Everyone talks about cybercrime, but employee theft continues to be a major threat to law firms.
Sarah Gaulin was the bookkeeper for the Rhode Island law firm of Hamel, Wexler, Allen & Collins with offices in Rhode Island and Massachusetts. She was charged with embezzling the law firm where she worked. From January 2012 until May 2019 , Gaulin prepared and cashed firm checks made payable to herself, paid with firm checks her creditors and with firm checks her credit card companies for personal purchases.
Gaulin agreed to plead guilty to defrauding the law firm out of almost $750,000.
To read more about the US Attorney charges against Gaulin:
Click on Gaulin is Charged With
I have had more than one attorney through the years tell me that they never thought it could happen to them. Law firms need to make sure that they have the proper insurance coverage for employee theft losses. Your attorney malpractice insurance normally will not provide this coverage. Make sure that if your business owners insurance policy does not cover employee theft, that you have a properly endorsed crime policy to provide this coverage.
Lee Norcross, MBA, CPCU
Managing Director, CEO
(616) 940-1101 Ext. 7080