California Courts of Appeal,
Banking
Nov. 25, 2014
Banks can't hide behind check cashing companies
A recent case address the all-too-common scenario occurs where a client's "trusted" employee, accounting manager, bookkeeper or the like helps himself to company funds.
Jill Switzer
Mediator
Alternative Resolution Centers
Formerly assistant general counsel at Bank of the West, Jill mediates employment, Commercial Code, business, elder financial abuse and real estate matters.
An all-too-common scenario occurs when a client's "trusted" employee, accounting manager, bookkeeper or the like helps himself to company funds. Often, that "helping" comes in the form of forged signatures on accounts payable checks. However, just as often it comes in the form of forged endorsements on checks representing accounts receivable, but which are diverted by that employee.
That employee usually takes checks payable to the company and forges endorsements, by forging a si...
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