Former Bank Account Accused of Embezzling Almost $280,000

 Posted on June 17, 2012 in White collar crime

Shaun Horan, 31, of Aurora, worked as an accountant at Resource One Bank in Oak Brook from 2007 to 2011. He was recently charged with embezzling almost $300,000 from his former employer. Authorities allege that Horan wrote himself unauthorized checks totaling $286,237.23 from the company account, and in an attempt to conceal the thefts, either deleted or changed entries in the company’s books.

A co-worker discovered the missing money in December while reviewing bank records. A follow up internal audit by the bank confirmed the amount of the money that had been stolen. According to prosecutors, by then, Horan had already spent some of the money on a down payment for a house and a new car.

The Daily Herald reports that Horan is married with two children and has been working for a Chicago-based staffing service for about the past three months. He was charged with one count of theft over $100,000 and faces up to 15 years in prison if convicted. His bail was set at $250,000.

State’s Attorney Robert Berlin said in a statement, “White collar crimes, such as what is alleged in this case, can not only pose a great hardship to the victim, but can have an enormous impact on society as well. When a company is defrauded, it must make up for its losses by raising costs, which ultimately means higher prices for consumers.”

Berlinalso added, “Additionally, this can also result in less pay for employees and even job losses. The effect can continue to ripple when it comes to those employees who now find themselves unable to pay off loans, and credit becomes harder to obtain.”

If you are accused of committing a white collar crime, or any other crime, you need to retain the services of an experiencedElk Grove criminal defense attorney to ensure your rights are protected.