Missouri nonprofit embroiled in embezzlement probe

On Behalf of | May 6, 2022 | blog, White Collar Crime

A nonprofit based in Missouri has recently agreed to pay over $8 million to the federal government. This will resolve an embezzlement and bribery investigation. This money will be raised by a series of forfeitures as well as restitution paid directly to the government. They must also acknowledge their criminal conduct.

Employees of a nonprofit are being held responsible

Several former officers and employees of Preferred Family Healthcare are currently being prosecuted for committing a series of white collar crimes. The non-prosecution agreement that the charity has agreed to will hold it to be liable for the crimes committed by these individuals while acting as its agents.

The employees of the nonprofit are charged with using charitable organizations to line their own pockets. They did so through a complex system of fraud and bribery. Preferred Family Healthcare has made a public admission and apology for these crimes. The nonprofit is working to restore the funds that were stolen.

The long term impact of white collar crime

It’s important to understand that white-collar crime can have very serious consequences. These can occur both in the short and long term. Many people think that, as long as their actions are not violent, the sentence they can receive won’t be as harsh. The reality is that crimes committed in the financial and professional sectors can bear severe penalties.

White-collar crimes can be very destructive to individuals and companies alike. They can cost investors millions of dollars or wipe out a family’s entire life savings. They can result in the bankruptcy of companies. This type of crime costs the United States roughly 300 billion dollars, each and every year.

You don’t have to take part in a scam to face charges related to it. The doctrine known as Responsible Corporate Officer (RCO) stipulates that high-level corporate officers are most likely aware of their company’s actions.

This means that they can be held responsible for a wide variety of actions, both legal and illegal. The more harm that is caused by a scam, the higher the penalties will be.