Engaging in an embezzlement case can be draining. The process is usually complex and expensive to undertake. Although a business or entity undergoes losses from the crime, it can be challenging to get a conviction, let alone recover lost funds. It is mainly because the perpetrators are trusted individuals to the victims.
An individual may decide to embezzle finances from an employer due to many reasons. Maybe it is financial problems or stress that may prompt them to take the criminal act. Still, the practice of embezzlement is a criminal act, and the victim needs to take the initiative to get justice. It entails getting a conviction and recovering the finances. Also, taking the right approach can ensure the recovery of embezzled funds. Below are steps that can help entities to get the best results when they suffer from embezzlement;
Investigate the Incident First
Going to a criminal lawyer for prosecution with a vague idea on the probability of embezzlement will not help. However, it would be wrong to confront the individual you suspect as they can hide evidence. On the contrary, it would help if you discreetly investigated the incident. Setting a trap for the embezzler can help in getting evidence that can incriminate them. When you know their technique to steal funds, you can prompt them to steal again by giving them a chance. Once you catch them on the act, it will be easy to get a confession.
Collect the Evidence
Since companies require accountability through record keeping, an embezzler will manipulate the facts to conceal their activities. So, the financial records and accounting books will likely have valuable evidence to incriminate the perpetrator. It would help to secure the data and have an expert analyze them. Even though the embezzler might try hard and find intelligent ways to hide the truth, a professional accountant can help uncover the defrauding scheme.
A guilty person will likely destroy the evidence if there is suspicion of their activities. It is why we advise against confronting the individuals. On the contrary, you will need to secure the books as soon as you learn about the chance of embezzlement to ensure you have the evidence for your case. It is best to collect the evidence when the person you suspect is not at the workplace, probably during the weekend or after work.
Since the cases are challenging, getting a confession can help with the prosecution. A public prosecutor or police may have limited experience with corporate affairs, so you need to consider a private prosecutor for your case. The accused will try things like getting bail and fleeing the area of jurisdiction. But, an experienced attorney knows the loopholes and can help you get justice for the wrongdoings.
Unlike using a public prosecutor, a personal lawyer will look after your interests. It involves recovering the money and getting a suitable judgment on the case.
The loopholes leading to fraud cases in a company are numerous, and the impact is catastrophic. Therefore, it is essential for management to protect their entities from embezzlement even after getting convictions on previous incidences.