As the controller or money manager, she knows how to steal money.
Any business should have regular audits. Trust but verify. The owners trusted her too much. Or perhaps auditors were incompetent and didn’t uncover things she was doing.
She will probably get a similar job in the future, as many small businesses do not do background checks on new hires.
And many companies to not even press charges. They quietly let people that do this go because public companies are “embarrassed” that they could let something like this happen and private companies don’t want to deal with legal issues or enhanced audits. I have been in procurement for 30 years and have seem both instances happen several times. It amazes me. The last guy was estimated to have managed over $800K in supply chain kickbacks only to be let go with no law involved. Too embarrassing. Now he’s in the mid-west, likely doing the same thing.
I live on $19,800 annually from SS and I do just fine.
But I have no debt, own several properties free and clear, have cash in the bank and don't waste what I spend.
What this lady did is called GREED.
One of my customers was nursing home medical supply company. I did all of their printing. Forms, invoices, labels, etc. It was a successful company that the owner had built up himself from scratch to 5 employees over 20 years.
He had hired a former Wall Street banker to run the financial end of his company and take it to the next level.
The company continued to grow for two years and then one day, nothing.
I hadn't gotten any orders for a while or calls so I went to visit him. I was shocked at what I discovered.
The new financial officer had embezzled several million from the company, putting it into bankruptcy. He took off on the run and hadn't been found as of yet.
The owner was devastated. The office was in shambles. All five employees were out of jobs. He had lost over a hundred pounds, his wife had divorced him and everything he worked for over 20+ years was gone. He was close to being suicidal.
I read later that they caught the guy in Mexico but by then it was too late for the owner and his company.
All because of the greed of one man.