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Another Des Moines embezzlement?

October 21, 2009

Stealing from the boss makes news again in Iowa:

The finance director for a Des Moines-based temporary employment company is in federal custody in Florida following his arrest on a wire fraud charge stemming from his alleged embezzlement of more than $1 million, court records show.

Randy Stringer, 46, of Clive was taken into custody by an agent of the Federal Bureau of Investigation last Thursday in Miami on an arrest warrant claiming that in July he illegally transmitted $2,000 to a woman in the Dominican Republic. The money allegedly was embezzled from Stringer’s employer DES Staffing Services Inc.

The Des Moines Register reports that court filings say the owner "became suspicious of Stringer’s behavior including frequent foreign travel and evasiveness when questioned by company finances and particularly 'why Quick Cash seemed to be repeatedly short of cash.'"

Embezzlement in a small business can be hard to spot. Often it only comes to light when something doesn't make sense to the owner - like when a business that seems to have good sales isn't making any money. Unfortunately, a lot of money can be gone by the time the owner puts two and two together. If the suspect really took the money, he'll face a hefty tax bill, but that doesn't help the guy who's out $1 million.