Most businesses, nonprofits and government institutions in Texas have a lot of money flowing through them. This observation may strike a chord for residents of the greater Austin area because our city is the seat of the state government.
It is important for employees in the private, not-for-profit and public sectors to handle their employer’s money properly.
Those who mismanage money or fail to follow laws and procedures risk losing their jobs. Getting fired over financial impropriety alone may make it harder to find another job. Professionals may also face licensing action after a fallout with their employer over money.
In some cases, an employer or their outside auditors may contact authorities, and those authorities may investigate and ultimately accuse an employee of theft, fraud, embezzlement or some other white-collar crime related to financial impropriety at work.
The result can be that an employee not only loses their job but also loses their freedom to a lengthy prison sentence.
Even if they manage to avoid prison, employees still may have to deal with hefty fines and restitution orders as well as probation. They also may wind up with a felony conviction on their records.
Employees who are accused of wrongdoing should know their options
A lot of behavior can make a person the target of a criminal investigation.
For example, an employee who does not correctly fill out a timesheet or who improperly submits a reimbursement request can draw the scrutiny of the authorities if the employer chooses to involve them.
Sometimes, the truth of the matter is that an employee made a mistake. These errors and judgment often happen when an employee is facing very difficult personal circumstances that can impact anybody.
Still, the best course of action may be to take responsibility for what the person actually did.
In other cases, though, what might seem criminal is really at worst an act of carelessness or a violation of internal workplace procedures but not the law.
Either way, if an Austin resident gets accused of mis-using their employer’s money, they should make sure they understand their legal options early on.