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Case Study: Discovering & Reducing Employee Theft

Need

Matthew Baizer, President and CEO of Zao Noodle Bar (a chain of 6 restaurants specializing in Vietnamese, Thai, Chinese and Japanese noodle dishes), uncovered a problem in his accounting area. He discovered that there were several checks written out to a member of his staff that could not be accounted for.

Mr. Baizer needed a company that specializes in dealing with this sensitive situation. At the point he contacted Mercantile Systems, he knew there was a employee theft problem - he just didn't know how large the problem was or how long it had been going on. Further loss prevention was also a consideration.

Solution

Mercantile Systems sent an investigator to Zao Noodle Bar's corporate office after extensive analysis of the collected evidence. Without warning, the suspected employee was called in for a meeting with the investigator.

Results

After a detailed interrogation the employee confessed to stealing in excess of $35,000.00, over the last two years. A full confession was written up and the employee promised full restitution. The employee was let go without further issue; Mercantile Systems reports contributed to the necessary employee theft support documentation.

Full restitution was made to the corporation within 45 days of the identified issue and Zao Noodle Bar has since incorporated a daily check and cash reconciliation system by a 3rd party not in control of the checks to help ensure this type of event does not happen in the future.

"Using Mercantile Systems theft and loss prevention division I have recouped over $90,000 identified by employee theft. I would recommend Mercantile Systems for any company who is concerned with controlling employee theft."
Matthew Baizer
President & CEO
Zao Noodle Bar

Looking for more information on how you can manage employee theft? Check out these additional resources:

Click Employee Stealing to learn about the variety of programs Mercatile Systems's offers to help you protect what's yours.

 

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Employee Theft

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