Steam Railroading Institute robbed

GG1 2340 posted:

Rescued Trains posted:

Sketchy news from small town news sources in Owosso, MI, but apparently $200,000.00 has been embezzled from the SRRI. That's a lot of money! As of now they can't locate the person of interest.

Steve

Its a theft not a robbery

I said "Steam Railroading Institute" robbed. Definition of robbed:     rob (rŏb) v. robbed, rob·bing, robs v.tr. 1. a. Law To take property from (a person) illegally by using or threatening to use violence or force; commit robbery upon. b. To steal something from (a place, vehicle, or institution, for example): Bandits robbed the train. c. To steal (money or valuables): robbed money out of the till. 2. a. To deprive ...   As you can see b. fits the situation.

Steve

Stealing; Theft. You don't go thefting or commit a steal. (lots of things are crimes outside of Theft/Stealing)

An embezzlement; theft money by breach of a granted trust.

 Theft of an item, say an unused checkbook; a larceny.

 Taking things by force from a person; robbery.

 Entering/opening things to take something; burglary .

 Embezzlement is under punished; a cakewalk.

 Sounds like your heist was a memorable cakewalk Swipsey 😋  Hands and mouth full, playin' that old man😂. Music to your ears to think back eh? 😎

An additional cost, but maybe there is insurance one can purchase for this sort of thing.

Also,  things like this gives all non-profits and NGO's a bad name.  Not good at a time where many people think thete should be no non-profits.  Period.

Any commercial insurance agent should have recommended a bond on the position or the person by name. Limited coverage is often included in the business insurance package.

The agent would have to complete an application that would have specific questions regarding exposures and procedures such as counter signature of checks, audit/review, etc.

Sounds as if someone was asleep at the switch.

Often the newspaper report does not go into the insurance coverage that the entity had. The coverage is surprisingly cheap.

Rescued Trains posted:

GG1 2340 posted:

Rescued Trains posted:

Sketchy news from small town news sources in Owosso, MI, but apparently $200,000.00 has been embezzled from the SRRI. That's a lot of money! As of now they can't locate the person of interest.

Steve

Its a theft not a robbery

I said "Steam Railroading Institute" robbed. Definition of robbed:     rob (rŏb) v. robbed, rob·bing, robs v.tr. 1. a. Law To take property from (a person) illegally by using or threatening to use violence or force; commit robbery upon. b. To steal something from (a place, vehicle, or institution, for example): Bandits robbed the train. c. To steal (money or valuables): robbed money out of the till. 2. a. To deprive ...   As you can see b. fits the situation.

Steve

You’re using it as a slang term for a theft. 

Robbery is taking by force. 

GG1 2340 posted:

Rescued Trains posted:

GG1 2340 posted:

Rescued Trains posted:

Sketchy news from small town news sources in Owosso, MI, but apparently $200,000.00 has been embezzled from the SRRI. That's a lot of money! As of now they can't locate the person of interest.

Steve

Its a theft not a robbery

I said "Steam Railroading Institute" robbed. Definition of robbed:     rob (rŏb) v. robbed, rob·bing, robs v.tr. 1. a. Law To take property from (a person) illegally by using or threatening to use violence or force; commit robbery upon. b. To steal something from (a place, vehicle, or institution, for example): Bandits robbed the train. c. To steal (money or valuables): robbed money out of the till. 2. a. To deprive ...   As you can see b. fits the situation.

Steve

You’re using it as a slang term for a theft. 

Robbery is taking by force. 

 

Well I guess I never thought posting on this forum would turn from the subject matter to a discussion of my use of words. Just wanted to bring this topic to the forum because I thought people might have an interest in the SRI. Time for me to abandon this topic.

Steve

Hello, I don't post very much but I feel I am able to comment on this situation. I am a commercial underwriter for one of the largest insurers in the U.S. We offer a coverage called Employee Dishonesty that would probably covered this scenario. Depending on the amount of coverage and the amount the employee took the Institute could be made whole again. Everyone who has a business should always review their coverages as you never know when you might need to file a claim. Thank you.

Verb and typo police on OGE?  Just like at home.  No place for a dyslexic to hide anymore!

Tom, it's OGR.

Doug

What about MISAPPROPRIATED? LOL! Why use a nickel word when you can use a dollar word!  😂

The suggestions above re: bonding and/or insurance coverage are sound, and would at least increase the probability of recovery of the purloined funds!

BTW, robbery can be described as mutinously purloining or feloniously procuring! LOL!