Billy Flack served as executive director of Downtown Columbia, an organization created to revitalize Columbia, South Carolina. Over the course of 11 years, Flack embezzled $444,000. How did Flack do it? By depositing subscriber cash receipts in his own bank account, writing Downtown Columbia checks to himself, and creating phony entities that Downtown Columbia wrote checks to.
Downtown Columbia was led by a board of directors comprised of civic leaders. Flack’s embezzlement went undetected until Downtown Columbia couldn’t pay its bills. Give four ways Flack’s embezzlement could have been prevented.