31–40 of 56 posts
Ouch, that is a horrible way to postpone retirement. It’s still hard to comprehend how that much money was stolen without any suspicion of any kind and over such a long period of time.
No company, no matter how small, should only have one person manage the books.
Ouch, that is a horrible way to postpone retirement. It’s still hard to comprehend how that much money was stolen without any suspicion of any kind and over such a long period of time.
I don't quite get how the loss could have such an effect. The article says "She hid her theft by creating dummy bills for suppliers and paying the money directly into her account." If I'm reading this correctly, fake bills were created and entered as expenses, which were then paid from the company bank account. If so, wouldn't the losses have shown up on the income statement? That would mean that the owner had the sa…
I don’t know what the solution is, but gambling (and particularly online gambling and video gambling) is a scourge on our society. I don’t think it should be outlawed, because adults should be free to make bad choices if they want to, but the level to which it is exploitive and harmful needs to be reduced. Does anyone have any good answers here?
I think everyone can agree that the employee is the #1 scumbag in this story. I think a 4 year sentence is woefully inadequate for someone who effectively stole her employers retirement years, years he cannot replace. Some blame can be assigned the business owner. How can you go so many years without a 3rd party audid, or Some kind of second opinion to your finances? Though trust shouldn’t be so harshly criticized. T…
Absolutely should not rely on them setting up a "charity".
I don’t know what the solution is, but gambling (and particularly online gambling and video gambling) is a scourge on our society. I don’t think it should be outlawed, because adults should be free to make bad choices if they want to, but the level to which it is exploitive and harmful needs to be reduced. Does anyone have any good answers here?
Earlier quoted context omitted.
I think everyone can agree that the employee is the #1 scumbag in this story. I think a 4 year sentence is woefully inadequate for someone who effectively stole her employers retirement years, years he cannot replace. Some blame can be assigned the business owner. How can you go so many years without a 3rd party audid, or Some kind of second opinion to your finances? Though trust shouldn’t be so harshly criticized. T…
Make gambling losses refundable unless the bettor posts a bond in advance. Only allow one purchase of chips per day. This prevents bleeding people drip by drip, while still allowing gambling. Mandate that all chips display actual cash value. Require signed disclosures with big warnings about the risks and costs of gambling, every time chips are purchased , like required on mortgages. Apply Accredited Investor rules t…
> Apply Accredited Investor rules to gambling.
Sorry, you should not need to earn $200k per year or be a millionaire to go blow a few hundred bucks at a casino. That's crazy.
Ouch, that is a horrible way to postpone retirement. It’s still hard to comprehend how that much money was stolen without any suspicion of any kind and over such a long period of time.
I don't quite get how the loss could have such an effect. The article says "She hid her theft by creating dummy bills for suppliers and paying the money directly into her account." If I'm reading this correctly, fake bills were created and entered as expenses, which were then paid from the company bank account. If so, wouldn't the losses have shown up on the income statement? That would mean that the owner had the sa…
The main damage to the business was the revealing of the fraud and driving away the people who were going to buy it.
Nobody is going to stick around for years waiting for court proceedings to finish up to complete a purchase of a small business - they’ll just find something else.
KYC and Source of Wealth info is pretty common in the gambling industry. For example at the company I worked at when you hit 2k EUR (or equivilent) your account would be locked until you gave information as to where the money came from. It's an overhead for sure but it should be the cost of running a gambling business. Gambling addiction is real and while it is the responsibility of the person not to defraud others t…
I don’t know what the solution is, but gambling (and particularly online gambling and video gambling) is a scourge on our society. I don’t think it should be outlawed, because adults should be free to make bad choices if they want to, but the level to which it is exploitive and harmful needs to be reduced. Does anyone have any good answers here?
I think everyone can agree that the employee is the #1 scumbag in this story. I think a 4 year sentence is woefully inadequate for someone who effectively stole her employers retirement years, years he cannot replace. Some blame can be assigned the business owner. How can you go so many years without a 3rd party audid, or Some kind of second opinion to your finances? Though trust shouldn’t be so harshly criticized. T…
She wasn’t gambling in a casino. She was gambling in what is essentially a pub that has a large room filled with pokie machines.
This is common across Australia, pubs have dedicated rooms (so called vip rooms) filled with pokie machines as they bring in a lot of money for the owners. Pubs are ripping out dining/general social space and putting in Pokie rooms.
It’s cultural to go have a pint and a bet.
She’s absolutely responsible for stealing but Australia’s obsession with Pokie machines and amount of Pokie machines is also problematic encouraging problem gambling. Pokie machines provide no benefit to anyone except the owners.
Not being Australian born the gambling commercials on tv was also eye opening.
Earlier quoted context omitted.
I think everyone can agree that the employee is the #1 scumbag in this story. I think a 4 year sentence is woefully inadequate for someone who effectively stole her employers retirement years, years he cannot replace. Some blame can be assigned the business owner. How can you go so many years without a 3rd party audid, or Some kind of second opinion to your finances? Though trust shouldn’t be so harshly criticized. T…
It’s interesting you use the word “casino”. She wasn’t gambling in a casino. She was gambling in what is essentially a pub that has a large room filled with pokie machines. This is common across Australia, pubs have dedicated rooms (so called vip rooms) filled with pokie machines as they bring in a lot of money for the owners. Pubs are ripping out dining/general social space and putting in Pokie rooms. It’s cultural…
I would prefer to see these sorts of clubs outlawed, and gambling only allowed to take place in licensed casinos, with very strict regulations around checking that the people gambling are doing so with full knowledge and are actually in a position do so...