The greed of the green is sickening. I've asked a lot of people what they would do if they ever won large sum of money (say $1 million dollars) and a lot of people said they would invest it, pay off bills, buy a home, buy their loved ones a home, buy a couple cars, start a business and so on and so forth. However, with all these responses, eventually more money will be desired, aimed for and needed. Living within our means is hardly ever done. If we have money; we're going to go out and grab the more expensive items rather than the least expensive. I know, because I am guilty of the same thing. Then we have to work harder to make more money to cover that more expensive item, when we could've comfortably lived with the least expensive one. The greed of the green causing us to live beyond our means. With the end of the system of things; it'll only get worse.
What led me to this post was something that I thought was mere gossip yesterday, coming from my co-worker as a tip from her cousin that works at a window covering company here in Houston. Embezzlement was the rumor. $1 million dollars being stolen from the company over the time span of 13 years. The woman guilty of such acts fled to NYC to be with her parents when they caught her. I was shocked; for one she was black and not too many of us get away with embezzlement for so much and for so long. Secondly, she was a woman who will probably spend the rest of her life in jail. This morning my co-worker throws the Houston Chronicle and there the story was. It wasn't a rumor after all. The story didn't match quite the same, but when it's foretold by word of mouth, it never is.
July 9, 2008, 7:02AM
Clerk's taste for high life cost her firm $6 million, officials say
By BRIAN ROGERS Copyright 2008 Houston Chronicle
Paying for a jet-setting luxury lifestyle — including tabs of $250,000 at Neiman Marcus and more than $100,000 at Kuhl-Linscomb for furniture — is how a trusted accounting clerk spent nearly $6 million she allegedly stole from her Houston employer, possibly costing many of her colleagues their jobs, prosecutors said.
Marcia Sinclair has worked for 16 years as an accounts receivable clerk for Gulf Coast Window Covering. For the past four years, however, she deposited checks meant for the custom window builder into her own bank account and pocketed millions, according to court records.
The 43-year-old was arrested Monday and is being held in the Harris County Jail in lieu of $12 million bail — twice the amount she is accused of stealing.
Sinclair is expected to hire JoAnne and Earl Musick to defend her in the criminal case, Earl Musick said. He said the father/daughter firm is handling a lawsuit against Sinclair arising from the same allegations.
Musick said he plans to fight the bail at a hearing in state district court scheduled for Thursday.
"They arrested her at home," Earl Musick said. "If she was going to flee the country, she would have already done it."
Sinclair apparently spent most of the money to finance trips, buying furniture and designer merchandise as she traveled to the Bahamas, Europe and across the United States, according to court records.
She particularly liked to shop in London for clothes, said Bryan Vaclavik, an investigator with the Harris County District Attorney's Office.
Problems linked to SinclairBack in Houston, Sinclair furnished her modest home with lavish items, including televisions in every room, paintings and sculptures from Europe, and state-of-the-art exercise equipment.
She also had more than 100 rings, dozens of shoes and "tons of clothes," Vaclavik said.
She also apparently had an affinity for sunglasses.
"It's disgusting," said Vaclavik. "We're talking about 61 pairs of designer sunglasses, with cases."
Bill Gaul, president and CEO of Gulf Coast Window Covering, said a cash flow problem led to 30 layoffs this year. He also said the company hasn't been able to fund the employee retirement plan.
Gaul said four employees have been hired back and the company remains solvent and doing business.
He said that even though the economy has taken a downturn, a significant part of the financial problem stemmed from Sinclair's alleged actions.
"What kind of company can just take a $6 million hit?" he asked.
He also talked about the extravagant expenses reported by authorities. "Instead of buying a $2,000 pair of shoes, she bought 12 pairs of $2,000 shoes."
Court records show that the company hired an auditor after recent discrepancies came to light. Soon after the auditor began asking questions, Sinclair stopped showing up to work. Eventually, the accounting problems were referred to authorities.
'It will happen again'Gaul said Sinclair was trusted with the company's finances. "She came up with us," Gaul said.
He also acknowledged that the company should have had safeguards in place to guard against the theft but said Sinclair was a highly trusted part of the company.
"It's another case of a trusted employee stealing from an employer," said prosecutor Lester Blizzard. "It's happened before, and it will happen again."
Blizzard said Sinclair was charged with the first-degree felony of theft because of the amount involved. If convicted, Sinclair could face a punishment ranging from probation to life in prison
*Sigh* Now why did she need all of that stuff? That's the greed of the green man. She cost people their jobs, sold her soul and now gave up her life for furniture, paintings, rings, shoes and sunglasses. Damn shame. When will we learn. Wait, we never will; not until it's too late anyway.
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