That Trusted Employee May Be Ripping You Off —Michelson

Industry suppliers are not immune to fraud, either. As reported on our news pages in this issue, the former CFO of the then-Pitman Co., plead guilty to wire fraud and tax evasion for embezzling $2 million from the New Jersey-based graphic arts distributor. John Eichner admitted to falsifying his expense reports from 2003 through 2009. Eichner appeared to have good taste and a penchant for the finer things in life. He turned in personal expenses that included stays at luxury hotels; clothing and jewelry from high-end retailers Nordstrom, Coach and Tiffany & Co.; and even wire transferred $30,000 directly from Pitman accounts to pay for cases of wine that he bought from Sotheby's.