Quote:
Originally Posted by shaginwagon13
Again for those of us who own businesses we all know there are checks and balances that are in place so this does not ever happen. First of all, only owners are usually allowed to write cheques because they are the only ones with direct access to the bank accounts. On sums of money of a couple grand or more it requires the signature of both or all owners for the banks to cash the cheques on the account.
Its reported that the Gross Revenues for HPF was around 4 million dollars annually. That may sound like a lot but thats considered a small company and I am sure the reported 4 million dollars gross revenues is exaggerated slightly. I don't buy that a firm that size could let 200k cash just walk out and nobody notice. That makes no sense at all.
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I never said nobody noticed it. They obviously did. But your checks and balances argument is invalid, with all due respect. This is how we had the owner of the largest ponzi scheme in the world as the chairman of the NASDAQ stock exchange, how we have employee theft at banks (in the sums of hundreds of thousands). I have seen a teller take around $450k out of the vault and bail to mexico, obviously we found out that night, but in the mean time we are none the wiser. All the guy at HPF had to do was forge a check and he is in. Im not saying its common, but its not hard to do.
Still a shame that HPF had to get the wrong end of the horse from this guy, and that insurance wouldnt pay them. I wonder why they are only insured for such a little amount.