Toronto Area Employee charged in $2.2M Fraud

Toronto Area Employee charged in $2.2M Fraud

An internal accounts payable audit recently revealed that an employee at liquid dispensing equipment manufacturer Hibar Systems allegedly stole $2.2 million from the company, Durham Region News, and the Toronto Star reported on June 4^th 2011.

Lynda Janet Dingwell – a senior employee in the company’s accounts payable department was recently accused of manipulating accounting records and making duplicate payments.

Detective Fred Kerr of the York Regional Police’s major fraud unit told the media outlet that Dingwell “left a great trail, except nobody caught it in the firm for quite awhile.”

Discrepancies in the company’s financials went back as far as 2006.

Dingwell, who had worked for the company’s Richmond Hill, Ontario-based office for 24 years, was charged with fraud over $5,000, theft over $5,000, and money laundering.

John Poulet Cheque Writer Service recommends that conducting regular internal accounts payable audits can help employers to identify and address embezzlement earlier, which could minimize losses. Additionally, if employees are aware that audits are conducted often, they may be less likely to attempt to steal from the company.

Do you worry about your business being the target of internal fraud? Contact us for a free and confidential consultation.