FOR YOUR FUTURE: BE AWARE OF EMBEZZLEMENT - sent by Wisewarrior
Hey folks. Since most dinarians on these sites are not used to having wealth, and since most of you are "trusting loving christians" I want to be sure you are aware that embezzlement happens more often than we'd like.
And, it can happen among "long trusted friends"/professionals that "feel like family" and especially among people who will use the "I'm a good christian" person of faith whatever mask to create the appearance of trust and confidence in the midst of gullible less sophisticated investors/holders of wealth.
I know a couple who had a very successful business, employed people they "trusted" and were embezzled TWICE!!!!!! Yes twice....even after putting safe guards in, it happened to them again.
We have seen it happen to movie stars, too.
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I'm not saying be super paranoid, I'm saying if you are new to having large or what seems large to you amounts of money or operating a business, be sure you know how to read your own balance sheets. Check your accountant's work. Learn how to read financial statements from investment companies.
Look at your own records, especially if you are planning to hire someone to manage property or a farm or multiple business locations.....and yes, even your charities/foundations churches you may be setting up.
Yes we've all heard stories of embezzlement at churches.
Go find books, articles on the web, or take classes on basic accounting and learn how to read these statements. At first it may seem too boring or overwhelming......that is normal, but as you study more you will feel more comfortable and be a better manager of your finances. Knowledge is power.