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Risk Reduction

Saturday, December 12, 2015

Small business owner and entrepreneur Cheryl Obermiller of Obermiller Construction Services, based in Harrisonville, Mo., was the victim of major embezzlement. Over an eight-plus year period, Obermiller’s accountant stole more than $1 million by simply forging checks.

“I had three to four crews running over six states,” says Obermiller on an episode of the radio show “FraudTalk.” “Hundreds of things going in and out each month. It would have been easy to catch had I known what to do, but I didn’t.”

Obermiller is not alone. She says that a small business is 100 times more likely to be embezzled from than a larger company and more than a one-third of failures are due to an employee’s theft. “Everyone has 1 to 2 degrees of separation from an embezzlement, yet nobody thinks it will happen to them”... Read More