Betrayal of Trust, Betrayal of Power
Trust is to empower. Unfortunately, incidents of a Betrayal of trust are happening practically everywhere and it is becoming more difficult to know whom to trust. Below are six betrayals of trust examples:
- Betrayal of Trust Victim: $17,000 loss. The president of a local chamber said, “What we’ve learned from this is that you think you can trust everybody, but you have to put controls in place.”
- Betrayal of Trust Victim: $8.9 million loss. This owner trusted his accountant until the day she was arrested for embezzling $8.9 million from his company.
- Betrayal of Trust Victim: $131,400 loss. The owner testified, “We became close friends. We trusted him.” This 30 year-old company shut down shortly after the discovery of this embezzlement.
- Betrayal of Trust Victim: $838,000 loss. The sheriff said, “This is one of those textbook cases where you had a trusted employee who had access that allowed her to get away with this (embezzlement) for a period of time.”
- Betrayal of Trust Victim: $2.4 million loss. An official of this county government agency said, ”This was a longtime employee who abused her position, abused our trust and abused the people.”
- Betrayal of Trust Victim: $10,000 loss. According to a District Attorney, “She was a highly trusted person who served as treasurer of the Boy Scout troop. No one questioned her integrity or ever checked the books.”
Unfortunately, determining whom to trust is at best a nearly impossible task. All it takes is a Betrayal of trust to severely cripple or even destroy any business.
Business Fraud: From Trust to Betrayal is loaded with evidence revealing the current approaches to fighting internal fraud and embezzlement are seriously flawed. This book also uses case histories to disclose how these crimes occur as it gives you a look at who the Betrayal of trust fraudsters really are, and shows you the best methods to defeat them.
Find out how to protect your business from a betrayal of trust by ordering your copy of Business Fraud: From Trust to Betrayal now!