What A Toothache

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Binary data with the word IDENTITY appears in the shadow of a hand. Concept for digital crime. Blue toned image.

There are several skillsets you should possess to successfully be an office manager. Deceiving those around you and being able to discreetly embezzle money do not meet the criteria. (Try putting that under the ‘qualifications’ section of your resume. I doubt you’d get many interviews.)  

Yuliya Vaysglus, a former Hopkinton, Mass., woman also known as Julia Vaysglus, was an office manager for a Boston-based dental practice from 2009 until her time of termination in 2015. Vaysglus stands accused of embezzling $348,000 from the dental office. (That’s quite a financial toothache for the practice to rectify.) As you might guess, she was promptly let go from the practice once her alleged misdeeds were discovered.

Vaysglus’ duties as an office manager included tracking client billings, depositing insurance payments into the practice’s bank account, and recording those deposits. Vaysglus allegedly abused the trust given to her to redirect insurance payments into her own account. (She was in the perfect position to financially benefit at the expense of her employer.)  These payments were meant to reimburse the practice for services rendered to clients, not provide an extra source of income.

At least 276 checks from insurance companies never made it into the dental practice’s bank account. (These lofty reimbursement checks covered services such as routine cleanings and orthodontia work.) Vaysglus’ scheme went unnoticed for some time as she made the checks that were meant to reimburse the practice payable to herself, and forged the signature of the owner of the practice on the checks, so she could deposit them into her personal account.

The embezzled funds were never reported on Vaysglus’ tax returns leading to additional charges being filed. (Not reporting committing a federal crime led to another crime being committed.) Vaysglus pleaded guilty to eight counts of bank fraud, one count of aggravated identity theft and three counts of filing false tax returns. The bank fraud charges carry a sentence of up to 30 years in prison and a $1 million dollar fine.

Filing false tax returns could lead to three years in prison and a fine of $250,000. (I suddenly have the urge to double check the accuracy of my own tax returns.) Aggravated identity theft is a mandatory two-year sentence plus a $250,000 fine. Vaysglus is scheduled to be sentenced November 17th. (That sounds just as painful as a toothache.)

Today’s Fraud of the Day comes from an article, “Ex-Hopkinton woman pleads guilty to embezzling $348K from Boston-area dental practice,” published by The MetroWest Daily News on June 12, 2020.

BOSTON – A former Hopkinton woman pleaded guilty Wednesday in federal court to bank and tax fraud charges stemming from her embezzlement of more than $348,000 from a Boston-based dental practice.

Yuliya Vaysglus, also known as Julia Vaysglus, pleaded guilty to eight counts of bank fraud, one count of aggravated identity theft and three counts of filing false tax returns. Vaysglus, 36, will be sentenced Nov. 17.

 

 

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Larry Benson, Senior Director of Strategic Alliances, LexisNexis Risk Solutions - Government

Larry Benson is responsible for developing strategic partnerships and solutions for the government vertical. His expertise focuses on how government programs are defrauded by criminal groups, and the approaches necessary to prevent them from succeeding.

Mr. Benson has 30 years of experience in sales and business development. Before joining LexisNexis® Risk Solutions, he spent 12 years founding and managing two software technology startups. During the 1990s he spent 10 years as a Regional Director helping to grow a New England-based technology company from 300 employees to 7,000. He started his career with Martin Marietta Aerospace working on laser guided weapons and day/night vision systems.

A sought-after speaker and accomplished writer, Mr. Benson is the principal author of “Fraud of the Day,” a website dedicated to educating government officials about how criminals are defrauding government programs. He has co-authored WTF? Where’s the Fraud? How to Unmask and Stop Identity Fraud’s Drain on Our Government, and Data Personified, How Fraud is Changing the Meaning of Identity.

Benson holds a Bachelor of Science in Physics from Albright College, and earned two graduate degrees – a Master of Business Administration from Florida Institute of Technology, and a Master of Science in Engineering from Lehigh University.