Josey Embezzlement Case
Jeanette Elizabeth Josey is involved in a million dollar embezzlement case. She is accused of embezzling the money from her employer James Gillikin. James Gillikin is the owner of Gillikin Marine Railways, Inc., Morgan Creek Seafood, James T Gillikin Inc, Traveler Captain Jimmy Inc and Captain James II Inc. Josey worked as the office manager for the group for seventeen years. Detectives in Carteret County said that this is the largest embezzlement case they have encountered. According to WITN.com news channel Josey embezzled the money from legitimate payee accounts of the corporation’s general accounts and then converted the money to her own use. She would conceal the movement of money by stamping corporate checks with a made up office stamp with one of the five corporation names so that it appeared the money was going to where it needed to. Deputies say that she then used the money to pay off loans, debts, obtain property, pay insurance, and pay for exotic trips and vacations. Josey had been embezzling the money over the seventeen years that she worked there. It was discovered when Gilliken tried to use a debit card Josey had gotten for him. When asked to enter his zip code it was rejected when he put in his zip code. Upon going to the bank to address the problem it was discovered that it was her zip code that belonged to the card. Josey is currently being charged with two counts of felony embezzlement. Josey was your typical white collar criminal. She was in her 50’s with no prior criminal record, and was considered a loyal long time employee. Since she was considered a valuable employee and had been with the company for so long it seemed unlikely that she would have been capable of such a crime. There are three in the opportunity triangle that happens when fraud occurs. The three elements are commit, conceal and convert. The first element is commit the fraud, Josey committed the most common type which is the misappropriation of assets. Josey did this by taking assets and pretending they were going to corporate accounts when she was funneling them to her own account. The next element was concealing the fraud. This is done to prevent detection of the stolen assets by keeping the accounting equation in balance. A couple of ways this can be done is by lapping of check kiting. In Josey case she falsified records by stamping checks with fake endorsements that made it appear to go to correct accounts but instead it was routed to her account. The last element of the opportunity triangle is converting the theft to personal gain. Josey did this by buying property, paying off personal debts and taking fancy exotic trips.
While Josey has not said why she committed the fraud looking at the pressures that could cause someone to commit these types of crimes I think that it was financial and emotional pressures to cause her