internal fraud

Summary of the Case: 

A group of employees at a retail banking office conspired to steal money from client accounts and from the bank’s operating cash assets. Mr. Kronvall grew suspicious during a review of internal controls at the office, particularly noting lapses in reporting dormant client accounts and remitting them to the state of California. This initial discovery prompted further investigation.  

Mr. Kronvall took proactive measures by notifying internal fraud investigations and the internal operational team. Confidential findings were promptly reported to local and federal authorities. Subsequent investigations revealed a multi-tiered employee fraud scheme. Through a confidential process, Mr. Kronvall, alongside internal investigations, obtained several key confessions from involved parties. Simultaneously, law enforcement was alerted and prepared. 

Within hours of obtaining written confessions and with the internal evidence that had been gathered, over 12 employees were arrested and subsequently prosecuted. 

Disposition: 

All 12 employees successfully plead guilty or were tried and convicted.