My former accountant took money from the company bank account without authorisation. She did this in the form of company cheques, whom she wrote to other companies and individuals that have no connection to my company in any way. Is this money laundering?
2007-01-29 06:26:51 · 7 answers · asked by Daffey 2 in Business & Finance ➔ Corporations
No, it isn't money laundering. It's just fraud/embezzlement.
Money laundering involves taking funds from illegal sources (such as selling drugs, running prostitutes, etc.) and making it "clean" by declaring it as revenue for some other business (such as a restaurant).
2007-01-29 06:30:04 · answer #1 · answered by Anonymous · 2⤊ 0⤋
its embezzlement (stealing money when one is in a position of trust to control the money, but is not the right ful owner of the money).
money laundering is a whole different creature. its when someone takes "dirty" money (from illegal sources) and runs it through a legitimate business or source to make it appear as though the money came from the legal source (now its "clean")
ex.: i sell drugs. i make alot of money. but i need to find a way to explain all this money if the government ever asks, so i have a fake furniture store where i never really sell anything, but i have books that show x amount of income. (makes it look like the drug money is actually coming from my furniture store)
2007-01-29 06:37:19 · answer #2 · answered by lovebugger 3 · 1⤊ 1⤋
Was she an Ex employee when she took the money?
If so, then it's theft ( or possibly grand theft )
Was she still employed at the time?
Then it's embezzlement.
2007-01-29 06:36:35 · answer #3 · answered by Anonymous · 0⤊ 0⤋
I don't think so, since they aren't paying her back in anyway that you've outlined. Sounds like embezzeling. But not enough detail to be sure.
Time to call and attny.
Best of luck
2007-01-29 06:30:53 · answer #4 · answered by Anonymous · 1⤊ 0⤋
I don't know if it was laundering, but it was embezzlement. She should have criminal charges filed against her.
2007-01-29 06:30:57 · answer #5 · answered by hdsok 2 · 0⤊ 0⤋
Most definitely..as well as embezzlement.
2007-01-29 06:29:56 · answer #6 · answered by Hi 7 · 0⤊ 1⤋
No, it is theft
2007-01-29 06:35:36 · answer #7 · answered by bob shark 7 · 0⤊ 0⤋