A former executive officer of the Scioto Valley Association of Realtors in Ross County, Ohio, was indicted by a grand jury on two felony charges: theft (a fourth-degree felony) and forgery (a fifth-degree felony).

The 58-year-old defendant is accused of embezzling $53,968 from the association and forging a $1,500 check using her secretary's signature for personal gain.

The victim, Scioto Valley Association of Realtors, reported the alleged theft. Jeremy Newman, "Ross County – Former Scioto Valley Realtor Executive Indicted for Embezzlement" www.sciotopost.com (Jul. 29, 2024).

Commentary

Although it is unclear how long the embezzlement scheme took place, or exactly how it was accomplished, it would appear this was a one-time act.

If so, was this one-time act of embezzlement the only one of many detected, or was the organization's oversight planning such that this act was quickly detected and reported to the authorities? If the latter, this is a prime example of why it is important to be constantly vigilant in watching your organization's assets and protect them from theft.

The use of video cameras, spot checks, random audits, and a system of confidential reporting of suspected theft are all good approaches to forestalling theft or embezzlement.

Make sure your code of conduct and ethics policy clearly states behavior expectations for all employees and volunteers, including their responsibility to report wrongdoing.

Clearly state your controls upfront and communicate to workplace participants that there will be little opportunity or tolerance for theft.

Conduct audits on an unscheduled but frequent basis so that wrongdoers do not have time to cover up signs of theft.