Trusted bookkeeper steals $433k + from local business
By Brenton Awa
UPDATED 10:52 PM HST Sep 22, 2014
HONOLULU —A trusted bookkeeper at a family owned business systematically swindled the business out of about $433,000. Now she's about to be kept behind bars.
Rhona Pizarro walked out of federal court today after the judge made that ruling.
In court, Pizarro stood up, looked at the people she ripped off and said she truly apologizes. She said what she did was terribly wrong and there's no way she can make it right.
Pizaro worked for the Filter Queen of Hawaii, a local vacuum shop, for nearly 30 years. She did the bookkeeping, but used the company's credit cards and business checks to pay for her personal items. That included car repairs and electric bills.
The son of the man who started the vacuum business says the company went through extreme hardships during that time and wants this case to be a lesson for others.
"We're thankful for the justice, that justice has been served. This happened for years. We put this in God's hands and that's what I have to say today," said Barry Schneider of Filter Queen of Hawaii. "Just remember that this is the land of aloha and people need to respect each other and do the right thing."
In a deal with the government Pizarro pleaded guilty to fraud and using an unauthorized access device to get the money.
Pizarro was sentenced to 24 months in prison and she'll have to pay back that money she stole.
- Source: http://www.kitv.com
Dual control system requires the authorization or approval of two individuals to complete a transaction. It’s that simple. One individual should not be responsible for an entire financial transaction from beginning to finish. Many small companies fall into the trap of having one bookkeeper handle all accounts payable and accounts receivable and write, sign, and deliver the checks. The dual control system puts a second set of eyes on transactions, greatly lessening the risk of embezzlement.
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