Former Controller for BMW, Vanessa Vence-Small was sentenced to 30 months in prison and ordered to pay restitution after she pled guilty to embezzling $1.1 million. . Between October 2014 and June 2017, Vence-Small made 65 unauthorized electronic fund transfers from the dealership’s bank account to her personal American Express account various contractors.
Ms. Vence-Small supplemented her $150,000 income and purchased multiple lavish first-class vacations overseas, in addition to making payments to contractors to remodel and landscape her home. Ms. Vence-Small also had a history of financial improprieties with at least two prior employers that fired her as a result.
Ms. Vence-Small was questioned months before by company executives regarding problems within the dealership, but the incident was disregarded until June of 2017 when irregularities in bookkeeping were noticed. This delay caused the company to continue to lose money.
ClearForce would have identified Ms. Vence-Small’s unusual financial behavior in real time, thus allowing her employer to investigate and assess her position and access to funds as a controller at Continental BMW Darien Auto Dealership. ClearForce could have alerted leadership of the early patterns of significant and unusual increases in personal financial debt.