Crime doesn’t pay, unless you make deals, latest on Koss’s Sue “moneybags” Sachdeva
In the story she attempted to blame a single merchant in 2004, this was as you can figure out a lie, since by that time she had been embezzling since 1997 from the company to the tune of $3.4 million by the time she had attempted to blame this merchant.
This woman had everything; she had a husband, a noted Doctor at the local hospital, she was obviously a long term employee that had the luxury of the trust of the company along with many others that were close to the company.
I have read many of the comments attached to the story from JSonline.com and I can relate to many of the comments, will she have an easy time in Prison, probably not, should she NO.
I can tell you she will probably lose her marriage, but I really don’t see how her husband couldn’t have known what she was doing, at least at some point common sense should trigger and you would notice your wife is bringing a whole lot more than what you make money to pay for, but then with this society being so built on credit maybe he thought they were keeping the credit card companies happy, but since 1997???? I don’t know if I could as a spouse not look at the income at the end of the year on the tax returns, and then ask a few questions about the buying she was doing.
I know enough that she is not and was not hurting for money, she wasn’t poor she didn’t need to take money for putting food on their table; she took the money so that she could buy herself baubles.
This was a person that had trust and abused the trust, do I blame her, oh yeah, but really there is more than a little blame to go around.
If the company was doing good business practices she may not have been able to get away with all that money, there should always be a double blind for a company, the person that writes the checks is not the same person as the one balancing the books.
If they had put a few safeguards in place they wouldn’t be out the money, and she wouldn’t have done this, at least not to such a large extent. For her to have access to a line of credit without having to have authorization wins the Koss board, CEO and everyone else the “blind eye award”.
Any business unless it is a one man show can and should do a few safeguards to make sure that their equity in their business is safe.
If you own a business or have a stake in a business, make sure your investments are safe and take the time to make sure the business takes the steps to safeguard against theft internal as well as internal prevention measures.
The time and expense to do this is far less than the potential loss your business may face, either from external or internal persons that feel that they can do better for themselves with your money.
Banks, convenience stores, and numerous other businesses use camera’s for safeguarding from someone taking their money by force, but with the downturn in the economy it is foolish to believe you are safe because your business balances at the end of the month.
- Koss Corporation Files Suit Against Former Employee Sachdeva and Auditor Grant Thornton Over $30 Million Theft (eon.businesswire.com)
- Fraud Files: How Well Does Sarbanes-Oxley Reduce Fraud Risk? (dailyfinance.com)
- Glancy Binkow & Goldberg LLP, Representing Investors Who Purchased Koss Corporation, Announces Class Action Lawsuit and Seeks to Recover Losses (eon.businesswire.com)
- Kendall Law Group Continues Investigation for Possible Securities Violations by Koss Corporation (eon.businesswire.com)
- Carney Williams Announces Deadline for KOSS Corporation Shareholders (eon.businesswire.com)
- Robbins Umeda LLP Announces an Investigation of Koss Corporation (eon.businesswire.com)
- SEC charges two US accountants with fraud (accountancyage.com)