Tuesday, August 29, 2006

Is Hannaford Getting Too Big?

Why do I wonder whether Hannaford is getting too big? Check out this story's account of how one of their long-time employees fleeced them but good!

In late 2000, Greeley created fictitious vendors and authorized payment from Hannaford to the fictitious vendors for services that were never performed. Greeley deposited the checks issued by Hannaford to the fictitious vendors into accounts he had established. Greeley obtained approximately $657,260 during the course of this fraudulent scheme.

If someone's able to steal more than half a million dollars from your corporation before you start to notice, your business might well have grown beyond its ability to be responsibly managed.



Linking to the following blogs with open trackback posts: Diane's Stuff, Rashbre Central

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