A former Facebook diversity program manager pleaded guilty to scamming the social media company out of $4 million after faking multiple business deals, according to cnbc!
Barbara Furlow-Smiles, was the lead strategist and global head of employee resource groups and diversity engagement at Facebook. According to the report, the woman used the stolen money to flaunt her lavish lifestyle.
The Feds claim Furlow-Smiles had access to the company’s credit card and was able to approve invoices which was part of her role with the job. her scamming skills reportedly “caused Facebook to pay numerous individuals,” including her friends and relatives, “for goods and services never provided to the company.”
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US Attorney Ryan K. Buchanan released a statement after Furlow-Smiles pleaded guilty on Tuesday saying she, “abused a position of a trust as a global diversity executive for Facebook to defraud the company of millions of dollars, ignoring the insidious consequences of undermining the importance of her DEI mission.”
In the realm of business, trust is a fundamental pillar that supports the foundation of any successful enterprise. However, there are instances when this trust is shattered, and individuals within organizations succumb to the lure of illicit gains. The act of stealing money from companies has become a prevalent issue, causing significant financial losses and reputational damage to businesses worldwide.
Corporate fraud, as it is commonly known, takes various forms. From embezzlement and misappropriation of funds to false accounting practices and insider trading, the motives behind these actions can be as diverse as the methods employed. In many cases, employees or executives who engage in such illegal activities are driven by personal financial difficulties, greed, or a desire to maintain a lavish lifestyle that exceeds their legitimate means.
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One of the most common ways individuals steal money from companies is through embezzlement. This occurs when someone entrusted with managing company assets diverts funds for personal use. Embezzlers often exploit their positions of authority, manipulating financial records, creating false invoices, or misappropriating cash to cover their tracks. Over time, these actions can lead to substantial losses for the company, potentially jeopardizing its financial stability. #Socialites however do you think this will play out for this woman?
