Jump to Navigation

$16 million allegedly stolen from Corsicana bakery by accountant

The success of a business in Houston depends primarily on the performance of its employees. As such, a company is often forced to place a great deal of trust into its employees to ensure that they can perform their job duties unencumbered by oversight. All too often, it’s easy for employees to get away with abusing that trust. If that abuse continues over time, it can end up being extremely costly for the company by the time the employee’s dishonest actions finally come to light.

Such has been the case of a Corsicana company that recently discovered that one of it’s most trusted employees had used his position to steal a great deal of money. The company, a world-renowned bakery, is suing its former corporate accountant for money that he allegedly embezzled during his many years of work there. The FBI has also become involved, having seized many of the accountant’s personal assets directly from his home. The accountant himself and his wife have not been seen for some time, though is has not been announced yet if they are considered fugitives. The man’s scheme finally came to light when a recent internal audit by the company revealed that he had stolen an estimated $16 million from them to finance his luxurious lifestyle. 

Embezzlement is a very serious crime that can often lead to an enormous financial loss for companies since those accused may not have the means to repay the large amounts of money that they stole, especially if they are arrested and incarcerated. Any company in this situation that’s hoping for some compensation may want to secure the services of a business litigation attorney that has experience in representing companies in these types of cases. 

Source: KHOU, “Corsicana bakery accountant accused of stealing $16M” Brett Shipp, July 25, 2013

HOW CAN
WE HELP YOU?
CONTACT US
fill out our 1-step form ›

Let Us Help You -
Contact Our Firm Today:

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Office Location

The Jackson Law Firm
3900 Essex Lane Suite 1116
Houston, Tx 77027

Local 713.574.5181
Toll Free 877.475.3058
Fax 713.527.8850
Houston Law Office Map

Review Us
FindLaw Network Subscribe to this blog's feed ►