Oh boy: two former employees indicted in $943,000 e-invoicing embezzlement

September 11, 2013  |  Electronic Invoicing, Payment

The two former employees of Cox Communications had access to the company’s electronic invoicing system that tracked payments to third parties. Prosecutors say that the two had manipulated the invoicing system in such a way that the company would actually issue duplicate payments to the third parties. These payments were then funneled into bank accounts each of them had control over. Officials say that this method allow the two to steal stole more than $943,800 from the company. One of the accused already pleaded guilty to a count of wire fraud.

This is just one of these cases that should be a BIG wake up call for all of us. Some say that for every crime solved , ten crimes remain  undiscovered. Makes you wonder, doesn’t it?


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