Prosperident Webinar October 22 — The Million Dollar Club – Meet Embezzlement’s Elite

Five investigators, five great stories

Your hosts Amber Weber and David Harris welcome special guests Scott Clifford, Tony Ulbrandt, Pat Little, Sonya Hudson, and Kelly Paxton to this webinar.

The guests, who are all experienced Prosperident fraud examiners, talk about their most noteworthy embezzlement files.

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Embezzlement News #99 October 2020

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October 2020
Next Webinar October 22!
This month’s webinar promises to be particularly interesting. The topic is The Million Dollar Club – Meet Dentistry’s Elite.
David, Wendy, and Amber will be joined by some Prosperident investigators who will talk about some of their most interesting cases, including thieves who took over a million dollars from their dentists.
The webinar takes place Thursday, October 22, at 8:00 pm Eastern / 5:00 pm Pacific.
To register, click HERE.
If you want to catch up on our previous webinars (we had some great topics like Forensic Hiring and
Steal and Conceal; What Serial Embezzlers Can Teach Us), you can access them at THIS LINK.
PACE CE credit is available.
We look forward to having you back in our audience!
A Minute with Scott Clifford
Scott is one of the three people at Prosperident to hold the title Supervising Examiner. This means that Scott has that combination of intelligence and tenacity to put him at the top of his field. Let’s hear what Scott has to say about practice management software.
Click HERE to play the video.
Did you miss a previous newsletter? We archive them HERE.
How Big is the Embezzlement Problem?
Over the next few months, we are featuring excerpts from the upcoming second edition of David Harris’ book, Dental Embezzlement; the Art of Theft and the Science of Control.
The most recent broadly-based survey of embezzlement was performed by the American Dental Association’s Center for Dental Practice, which was published in 2019. In this survey, 19,991 dentists were polled, and the astonishing result was that 48.64% of those who responded confirmed that they had been victims of embezzlement.
It didn’t stop there. As can be seen from the graph above, almost half of the dentists who reported being embezzled disclosed that they had been victims more than once, with 9% of respondents confirming that they had been victimized four or more times.
Something to Talk About…
I’ll confess to being a news junkie. I’ve always been interested in what is going on in the world.
Lately, my interest has faded. The COVID numbers, which people watch in the way they would look at baseball scores in other times, and the decidedly nasty turn that politics has taken, have made the news far less appealing for me than it once was.
However, I saw an ad a few days ago that gave me pause. The essence of the ad was that if the impact of the virus was that you were stuck at home, that meant that you have a home. If you are bothered about wearing a mask when buying groceries, that means you have money for food. The message was that a bit of adversity should not make us oblivious to the blessings that we have.
As I write this, two of our valued team members, Scott Clifford (profiled in the left column) and Rose Clifford, are on evacuation alert due to wildfires near their home in Northern California. This is the second time for Scott and Rose in the past two years – the 2018 Camp Fire came very close to them, and Scott’s parents lost their home in that fire.
Unquestionably, the virus has impacted both dentists and those who provide goods or services to dentists adversely. I know that Thanksgiving isn’t until next month, but as the ad suggested, let’s be grateful for what we have and give some thought to those less fortunate.
Sincerely,
David Harris
We are Prosperident, Dentistry’s Embezzlement Experts

How Big Is The Embezzlement Problem?

We are featuring some excerpts from the upcoming second edition of David Harris’ book Dental Embezzlement; the Art of Theft and the Science of Control.


Embezzlement has been around since the beginning of recorded history. The Code of Hammurabi, the law code of the Mesopotameans, is most famous for its “an eye for an eye” provision, but also specifically addressed embezzlement, as did the legal code for Ancient Egypt.

The earliest record that I can find of embezzlement in a dental practice was in 1857 (which, by the way, also involved a murder). When you consider that the world’s first dental college, the Baltimore College of Dental Surgery, admitted its first class in 1840, it didn’t take long for this problem to emerge.

Former Federal Reserve Chairman Alan Greenspan said this about embezzlement:
“Corruption, embezzlement, fraud, these are all characteristics that exist everywhere. It is regrettably the way human nature functions, whether we like it or not… No one has ever eliminated any of that stuff.”
While measurement issues make the answer to the question of prevalence in dentistry somewhat elusive, a comparison of surveys taken of dentists over time shows that the problem is growing.

The most recent broadly-based survey of embezzlement was performed by the American Dental Association’s Center for Dental Practice, which was published in 2019. In this survey, 19,991 dentists were polled, and the astonishing result was that 48.64% of those who responded confirmed that they had been victims of embezzlement.

It didn’t stop there. As can be seen from the graph below, almost half of the dentists who reported being embezzled disclosed that they had been victims more than once, with 9% of respondents confirming that they had been victimized four or more times.

If we simply multiply the number of dentists in each frequency category by the minimum frequency (i.e., 27% x 1, plus 11% x2 and so on), we can determine that, for every 100 dentists, there have already been at least 91 embezzlements that have taken place.

In comparison, a 2007 American Dental Association survey determined that 35% of the respondents had been victims , so in the 11 years between the two surveys, the percentage of dentists reporting embezzlement increased by more than a third (i.e., 13% of those surveyed). This growth is a significant and alarming trend.

West Virginia Woman Pleads Guilty To Bank Fraud Of $120k

Joker

According to the information provided by the United States Department of Justice, the events happened between the years of 2011 and 2018.

In her position, Evans was responsible for accepting payments, posting entries into the accounting system, prepared and conducted deposits on behalf of the office and was in charge of their accounts payable, the information said.

During that time frame, Evans knowingly forged the signature of her employer without authorization and misappropriated checks from several institutions including the Boards of Education from Wood, Jackson and Pleasants counties.

Her employer’s forged signature made it possible to deposit the checks into her personal account with Poca Valley Bank in Spencer, the information said.

Throughout her scheme, Evans fraudulently appropriated more than 300 checks and embezzled more than $120,000, Stuart said.

Evans also forged her boss’ signature on three checks drawn on patients’ personal bank accounts, the information said.

After the checks were deposited into her personal account, Evans used her debit card or wrote checks to access the funds, the information said.

Evans owes the $120,000 in restitution, the information said.

Sentencing is scheduled on Nov. 18. She faces up to 30 years in prison.

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Content retrieved from: https://www.newsandsentinel.com/news/local-news/2020/07/palestine-woman-pleads-guilty-to-bank-fraud/

Embezzlement News #98 September 2020

Want to receive our newsletter automatically each month?

September 2020
Next Webinar Sept 16!
This month, we have a special treat for you. We have invited our audience members to submit questions, and if we use yours on-air, you win a prize.
David, Wendy, and Amber will answer your questions on Wednesday, September 16, at 8:00 pm Eastern / 5:00 pm Pacific.
To register, click HERE.
Do you have a question you want us to answer? Click HERE to submit it.
If you want to catch up on our previous webinars (we had some great topics like Forensic Hiring and
Steal and Conceal; What Serial Embezzlers Can Teach Us), you can access them at THIS LINK.
PACE CE credit is available.
We look forward to having you back in our audience!
Dental Podcast
Hear dental industry leader Interview David Harris in a wide-ranging and thought-provoking discussion.
Click HERE to play the episode.
Did you miss a previous newsletter? We archive them HERE.
Profiles of the Embezzler – the Narcissistic Sociopath, the Hero and the Sugar Momma
These are some of the common profiles of embezzlers.
Many thieves display sociopathic characteristics, and also markers of a narcissist. Psychological literature recognizes this combination as a narcissistic sociopath. The accepted traits of an antisocial personality disorder (sociopathy) include:
  1. Superficial charm and intelligence.
  2. Unreliability.
  3. Untruthfulness.
  4. Lack of remorse.
  5. Inadequately motivated antisocial behavior.
  6. Delusions of invincibility.
  7. Failure to learn by experience.
  8. Failure to follow any life plan.
    Something to Talk About…
    It’s a bittersweet moment in my life as I pack my son off this week to begin his next chapter. He is off to college 1,200 miles away to study math and computer science, and play basketball.
    I can barely remember what it was like not to have Ethan around. From the impish, perpetually giggling four-year-old who endlessly made me chase him around the house to the gigantic teenager, chronically leaving his size 16 sneakers where everyone would trip on them, he has always been there.
    I feel badly for his generation. The COVID restrictions have meant that some of the important life events, like high school graduation and a prom, have been skipped over or radically altered. The college experience is going to be quite different from the carefree one with which we were blessed.
    We adults have sufficient perspective to recognize that eventually, the disruption will pass, but I am not sure that teenagers can contextualize as easily.
    In the way that the parents of baby boomers were forever altered by their experience coming of age in WW2, this group will always be the “COVID Generation”.
    Ethan is handling it well and is excited about upcoming challenges. I hope that, if someone in your family is entering a new phase, that it goes equally well for them.
    Sincerely,
    David Harris
    We are Prosperident, Dentistry’s Embezzlement Experts