Ep 113 | Trust Betrayed: Fraud and Embezzlement in Law Firms

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Your Profitable Law Firm

Kelley Brubaker

127 episodes

2 days ago

Guiding law firms to overflowing profits 💰 scaled growth 🌱 and thriving lives 😎 This is your source of business insights and money mindset with a little bit of humor tossed in. Hosted by Kelley Brubaker, CPA who is a business advisor and entrepreneur. Kelley knows there is an easier way to make money as a small business owner and that's what she's here to help you do.

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Ep 113 | Trust Betrayed: Fraud and Embezzlement in Law Firms

Your Profitable Law Firm

13 minutes 3 seconds

3 months ago

Ep 113 | Trust Betrayed: Fraud and Embezzlement in Law Firms

Uncovering Fraud in Law Firms: Real Cases and Prevention Tips

In this episode of 'Your Profitable Law Firm' podcast, host Kelley Brubaker explores the startling truth about internal fraud within law firms. She shares three real-life cases of embezzlement and fraud involving trusted staff members, highlighting the consequences of weak internal controls. Each case is analyzed to understand how the embezzlement occurred and why existing controls failed. Kelley also offers practical steps law firms can take to protect themselves, such as segregation of duties, regular reconciliations, and surprise audits. Learn how to implement the 'trust but verify' method to safeguard your firm's assets and reputation.

Case Study 1: Irene M. Scott – $1.7 Million Stolen by a Long-Term Bookkeeperhttps://www.justice.gov/usao-wdtx/pr/former-san-antonio-bookkeeper-pleads-guilty-stealing-17-million

Case Study 2: Jennifer Elaine Roarke – Paralegal Embezzles $1.5 Million from Client Trustshttps://www.justice.gov/usao-wdnc/pr/paralegal-charged-embezzling-15-million-law-firms-clientsCase Study 3: Scott W. Rothstein – $1.2 Billion Ponzi Scheme at a Major Firm

https://www.justice.gov/archive/usao/fls/PressReleases/2010/100609-01.html

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