Sunday, September 4, 2011

Municipal Embezzlement Cases On The Rise In Iowa

Embezzlement cases involving municipalities in Iowa are on the rise, so says a report from the Iowa Auditor's Office.  According to the report, the office conducted 7 embezzlement investigations of finances in cities with fewer than 700 residents between 1996 and 2005.  In the past five years, since 2006, the number of investigations has grown to 32.  Marquet International's analysis shows that the trend is not only on the municipal level, but also for private businesses, where the sums misappropriated are even more significant.  Major embezzlements of governments and governmental bodies is the most frequent sector affected, with the second highest gross losses of all industries surveyed, according to the 2010 Marquet Report On Embezzlement.

Read the story here.

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