Embezzlement: Attempting to Find the Easy Way Out
Envy and greed has existed since the beginning of time. Maybe we are born with those traits or maybe we are taught through life’s lessons. The rich are perceived as having a carefree un-stress-filled life. The reality shows and news stories of the wealthy buying yachts, taking lavish vacations with their Barbie doll mate, summer homes that are actually castles and extravagant parties. The rest of the world seems to be the servants of the wealthy. How can society not be envious or greedy to obtain what the few have in their life? Part of society is happy with their position in life; just being able to pay the bills, and take care of their family is what drives them. However, the other part of society wonder, “How have some individuals been gifted with monetary wealth?”, and their resentment builds. The “Get Rich” schemes are created.
The individuals trying to make the quick buck will pressure their friends and family into buying the Mary Kay, Tupperware, or lending money to place bets on Sport games or a gambling weekend at the casino. All this under the assumption that they will make a great deal of money, and earn the respect of the wealthy elite. The most well know form of money schemes is embezzlement. An understanding definition of embezzlement comes from Global Legal Resources; it states: Embezzlement is a criminal offense which involves the fraudulent and secret
misappropriation of money or assets by an agent to who the property has been entrusted.
This occurs when a person obtains possession of the goods or money in legal, proper
manner, but then appropriates them for his/her use without the rightful owner’s
permission. Six (6) cases of embezzlement stand out in Modern day History. The first case is about Yasuyoshi Kato in 1997 who managed to steal $132 million from Day-Lee Foods, Inc. of Santa Fe Springs, California. At the time, Yasuyoshi was the Chief Financial Offer of Day-Lee Foods. He managed to keep the game up for six (6) years by fraud and forged checks. Yasuyoshi, a Japanese citizen, wrote checks to himself and his wife, from the various companies’ accounts over the six (6) years. He even was so arrogant that he took out bank loans under the company’s name and manipulated the accounting books to cover the theft. Yasuyoshi bought numerous luxury homes, a citrus ranch, premium vehicles, unstable business ventures that failed, jewelry and extraordinary animals. He blamed his wife in court on the reasoning on why he performed the embezzlement. Stating she was always unsatisfied. Yasuyoshi was even so ignorant that when he was asked where the money was coming from, he stated he was a secret inventor of Nintendo. In 1997, Yasuyoshi Kato plead guilty to six felony counts. They ranged from mail fraud (Statute 18 U.S.C. Section 1341) to wire fraud (Statute 18 U.S.C. Section 1343). In the end, he was sentenced to 63 months in a federal state prison and an additional five years of probation. This was the maximum sentencing at this time. (Marquet, 2010) The second largest case of embezzlement was Gilbert Beesmyer of Guarantee Building & Loan Association of Hollywood, California. He was found guilty in December of 1930 (Statute 18 U.S.C. Section 981), and length of the fraud is unknown but assumed to be less than one year. Beesemyer was able to steal the equivalent of $100 million in 2010 dollars using his position within the company as the founder, general secretary and manager. The Guarantee Building and Loan Association went broke because of Beesemyer’s actions. He stole the money in form of overdraft penalties, and repeatedly stated he planned to repay the money. Even though he was sentenced to 10 to 100 years to the San Quentin prison, he was released under parole in 1940. The community that had invested in Beesemyer’s bank was destroyed. Businesses failed, 2,500 families went broke, individuals went...
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