This article brings to light some poor business book keeping practises we all can learn from . Has anyone experienced this type of thing ? How could it be prevented ?




http://www.saultstar.com/ArticleDisplay.aspx?e=3454943

House arrest for bookkeeper charged with fraud, forgery

By LINDA RICHARDSON, THE SAULT STAR

Updated 1 day ago


A bookkeeper who stole $40,000 from his employer will spend 10 months under house arrest for a "huge breach of trust."
Khawaza Ahmed, 30, received the conditional sentence Monday when he appeared in the Ontario Court of Justice.
He pleaded guilty at an earlier court appearance to fraud over $5,000 and uttering forged documents.
The offences occurred between October 2008 and November 2009 when Ahmed was employed at Raker Hydraulics and Machine Shop on Peoples Road.
Ahmed defrauded the company by writing cheques to himself and depositing them in his bank account.
As well, he used the company Visa card to pay personal expenses for his vehicle and to make purchases.
Assistant Crown attorney Mike Kelly called for nine months behind bars to prevent others from "simply acting upon greed."
"In order to deter others, a sentence of real custody has to be imposed today," he said.
Ahmed "is given access to the books, the finances of Raker and he has abused that position of trust for his own benefit. Simply for greed."
Kelly said the Crown's position was in light of the $19,000 in restitution Ahmed had made Monday. He asked the judge to impose a restitution order for the remaining $21,000.
Defence counsel Wayne Chorney argued that his client was a candidate for a conditional sentence and proposed an eight to 10-month term.
He cited Ahmed's pleas of guilt, lack of a prior criminal record and a pre-sentence report that, for the most part, was positive.
Chorney described Ahmed as industrious, something he had demonstrated through his education (obtaining an accounting degree) and employment since coming to Canada.
Ahmed is committed to repaying the money, has good prospects in the future and isn't a danger to the community, he said.
After he was laid off from the company in late 2009 during a restructuring (and before he was charged), Ahmed had obtained employment in the city's finance department, Chorney said.
"He was earning $60,000 a year and was terminated when charged," the defence lawyer said.
He now works on his own, six days a week, doing home renovations.
"Whatever sentence you impose today, the stigma of the offence will be attached to him," Chorney said. "He may have to remain self-employed for years."
When she sentenced Ahmed, Bignell cited a number of aggravating factors, including "an employee theft" that was a "huge breach of trust."
As well, the money involved was a significant amount, it wasn't a single incident and the employer was compromised by Ahmed's actions, she said.
Bignell said she didn't feel serving the sentence in the community would endanger the community.
Ahmed is employed, seems to have good rehabilitation prospects and is trying to pay restitution.
As for specific deterrence, "he has lost a career and has limitations on his future," she said.
During his sentence, Ahmed can only leave his home between 7 a.m. and 7 p.m. to work and at all other times must be in his residence.
Once he completes his sentence he will be on probation for a year.
While serving the sentence and on probation, he is not to assume a position of trust with an employer without disclosing this information.
Bignell also imposed a $21,000 restitution order.
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