Re: Money scandals
Ian N Ford (ianford@DIRCON.CO.UK)
Sun, 21 Jul 1996 10:42:13 +0100
Certainly in England and Wales, if a bank pays a cheque without authority,
i.e. against the wrong signatures or against forged signatures, then the
bank is liable. If the irregularity could be proved the bank would have
to reimburse the money to the unit.
Then the offence would be against the bank ... and here at least they
would invariably press for a prosecution. Banks are also pretty good at
recovering money owed to them ...
If the offence involved forgery as well as plain fiddling the books then
I would expect the treaurer to face a prison sentence, even for a first
offence. Also, if a fraud were to be committed by the partner of a bank official
he would certainly be turned over by internal audit, and his promotion
prospects would take a nose dive.
Terry Howerton Sakima Group, Inc. SCOUTER Magazine Kansas City