Former Cincinnati city employees’ union president Diana Frey has pleaded guilty to federal charges of embezzling more than $750,000 from the Cincinnati Organized and Dedicated Employees (CODE) union.
Federal prosecutors say Frey fraudulently transferred union funds to her bank accounts using checks, ATM withdrawals, credit cards and wire transfers. Prosecutors maintain Frey misrepresented the union’s finances to union members in a scheme that dated back to 2005.
She faces up to 20 years in prison and $1.5 million in fines.
Note: Always have safeguards in place so no one person can move funds without the knowledge or approval of another. No one—not even the highest officials—should be above suspicion.
Like what you've read? ...Republish it and share great business tips!
Attention: Readers, Publishers, Editors, Bloggers, Media, Webmasters and more...
We believe great content should be read and passed around. After all, knowledge IS power. And good business can become great with the right information at their fingertips. If you'd like to share any of the insightful articles on BusinessManagementDaily.com, you may republish or syndicate it without charge.
The only thing we ask is that you keep the article exactly as it was written and formatted. You also need to include an attribution statement and link to the article.
" This information is proudly provided by Business Management Daily.com: http://www.businessmanagementdaily.com/28412/cincinnati-union-leader-faces-jail-time-fines-for-fraud "
- Business interference is tough to prove in Pennsylvania
- When religion is crux of workplace problems, base discipline on behavior--not belief
- Fatal accident at Georgia-Pacific illustrates scaffolding dangers
- Exit interviews: Use them to cut turnover, unveil legal risks
- Indefinite suspension is retaliation, even without discharge