EMBEZZLEMENT. MALFEASANCE. NEGLIGENCE.
Strategy: Strike quickly and truly.
After discovering that a long-time employee of a Palm Beach based privately held company had embezzled an estimated $7.5 million over a 10-year period, Don Hayden assisted in obtaining an emergency freeze order on bank accounts that the employer had fictitiously opened and other assets within 30 days of first discovering the possibility of employee malfeasance which accounted for more than half of the estimated loss. In addition, with the assistance of local law enforcement, material evidence was confiscated that further detailed the employee’s illegal activities and potentially additional assets acquired from the misappropriated funds. Actions remain pending against third parties including the financial institutions and accounting professionals that failed to uncover the embezzlement activities.
