Fraudulent crimes involving corporate identity theft are uncommon, and are not a feasible venture by the at-fault party. Eventually their endeavors will be uncovered, either by the company itself or by law enforcement. Having the proper security measures for your business and implementing the necessary protocols will protect your interests, as well as the assets of your organization.
A woman from just outside Atlanta, Georgia attempted such a crime in 2008 – during a probationary period for a previous federal fraud crime – and was recently sentenced to a decade-long stint in prison.
The woman’s scheme was to bring defunct companies back from the dead, applying to the Georgia Secretary of State that the companies were active and that she was a leading executive at the company. In addition, she opened checking accounts and email addresses in the defunct companies’ names, giving the appearance of a lively organization.
It was all a ruse, as the woman secured more than $1 million in loans and lines of credit earned through these invalid companies during her two-year scheme.
The woman was convicted in 2004 of federal fraud, landing her in prison until the end of 2006. After her release she was placed on probation and in an effort to deflect attention away from her new fraudulent plan, she gave her probation officer falsified her address and her employment situation.
While these cases are uncommon, there are people out there willing to risk their futures in an attempt to deceive and defraud companies of their hard-earned money. If this happens, bringing in a legal representative can help you collect any lost earnings and consult with you to establish improved security measures for your business.
Source: Atlanta Business Chronicle, “Metro woman gets prison time for corporate ID theft,” Amy Wenk, Feb. 28, 2012