Salina Woman Admits To Embezzling $574,000
KSAL Staff - Thu 10:14 AM 10/11/2012
41-year-old Jill Marie Gregg has been sentenced to 12 months in federal prison and ordered to pay $574,000 in restitution.
A Salina woman will spend a year in federal prison for embezzling over a half-million dollars from her employer.
According to U.S. Attorney Barry Grissom's Office, 41-year-old Jill Marie Gregg has been sentenced to 12 months in federal prison and ordered to pay $574,000 in restitution.
Gregg admitted that from July 2010 until her termination in November 2011 she embezzled money from her employer, Crane Rental of Salina. As Crane’s office manager, she had authority to pay the company’s accounts receivable. She used her access to the company’s bank account at Bennington State Bank to pay her personal debts.
Gregg pleaded guilty to one count of wire fraud.
Comments must stay on topic and be respectful. Comments that are personal attacks, make unfounded accusations, or are for the purpose of "trolling" or inciting others will be removed. Offending users will have their profile suspended.
Post a comment Log in or Register to comment
Chatter11
Thursday 11 October 2012 10:47 Report this comment
Seriously, people can we not figure out money is missing before it ends up being over half a million $$$$$. How could she get by with this for so long and what kind of personal debt did she need to cover. Just asking!
risingr
Thursday 11 October 2012 12:33 Report this comment
Seriously, a 12 months for a half million plus? Wonder what you have to do to actually get some real jail time in this town?
ILD
Thursday 11 October 2012 16:29 Report this comment
Answer to your question risingr is DUI
ROCKER
Thursday 11 October 2012 19:32 Report this comment
she might as well break out of prison and carjack a car and go on a joyride and get an extra two years added to her sentence ,what the heck !
ksfarmdude
Thursday 11 October 2012 19:34 Report this comment
Hell they'll be lucky if they can get 10 cents on the dollar from that gal she'll be on welfare after she's out of prison
Iamgonnagetyou
Friday 12 October 2012 08:21 Report this comment
I have to agree everytime tdhis happens where were the owners of these companies? Even if they did not catch it they usually have accounting firms go over books especially a company this size. Over a half a million is not chump change.
The_Law
Friday 12 October 2012 09:45 Report this comment
The same person should not handle receivables and payables or the office manager handles neither. If the company is too small, you use multiple signature checks (do it anyway), with at least one manager (outside accounting) or owner as a signor. In some cases, checks have to be written when signers are not available so they pre-sign checks. All checks should be copied, filed, & attached to the invoice. In the case of pre-signed checks, a copy should be given to the person who pre-signed the check for verification. Any questions are alleviated by checking the invoice that is filed (usually by company but could be filed by check number). That copy is then shredded. Tax accountants just want totals and give no advice on separation of duties. Audits are not required for private companies. Those audits will identify problems with the separation of duties in the notes and will give their opinion if they do not feel comfortable that the company has enough checks in place.
The_Law
Friday 12 October 2012 09:55 Report this comment
That opinion will state how much you can rely on the financial statements. Of course you can get around an audit based on the threshold amount. Most audits only look at transactions over a certain amount, like $1,000. However, if an account is out of whack compared to the previous year, all transactions for that account are pulled and raises the audit cost. Any unusual or new accounts over previous years are also looked at. Unusual amounts to the same vendor are also checked. Cash should never be disbursed for items over $100 and should be approved before the transaction in writing with the receipt attached and filed under "cash receipts". Did I mention I was unemployed? LOL
The_Law
Friday 12 October 2012 10:07 Report this comment
Owners need office managers to produce financial statements, monthly. Especially, cash flow and recognize when there are discrepancies. Check the balance sheet and make sure the bank and the "cash" account reconcile (they won't so the office manager needs to produce the documentation so they do-e.g. outstanding checks). Have the office manager have a column for year to date totals and percentage of budget totals next to monthly totals, so at first glance you can see where problems might arise.
The_Law
Friday 12 October 2012 10:09 Report this comment
Communicate, communicate, communicate! Ask questions of office managers, body language is a sign something might be amiss.
victory2013
Friday 12 October 2012 13:07 Report this comment
Nothing worst than an unemployed lawyer.