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CEO Nabbed for Identity Theft From Own Employees 150

Posted by samzenpus
from the alright-people-I'm-going-to-need-some-maiden-names dept.
BuzzardsBay writes "And you think your boss is a jerk? Check out this VARBusiness story about a tech CEO the feds say was using his employees' personal information to apply for loans and credit cards to the tune of $1 million. Somewhere a whole lot of businesses who bought this guy's managed-services pitch are cringing with the thought of who is taking care of their data now. And 50 employees are gonna have to sweat out their credit reports even as they look for new jobs. Now that's a lousy boss!"
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CEO Nabbed for Identity Theft From Own Employees

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  • by 4iedBandit (133211) on Wednesday November 01, 2006 @11:43PM (#16684617) Homepage
    Wait a minute. You want me to have sympathy for the CEO of a company who commited credit fraud using his employees confidential information?

    You know, this is really taking the whole victim mentality to the next level of insanity. "It's not his fault really, society forced him to because no one would loan him money." Give me a break!

    Theft is wrong. Stealing from your employees is NEVER excusable. Please don't ask me to have sympathy for the crook. Corporations have a myriad of ways to legally screw employees without having to resort to outright theft.

    You know, there are some things in the world that really are black or white, right or wrong. This is one of them. Please stop turning everything gray.
  • by Danse (1026) on Thursday November 02, 2006 @12:10AM (#16684747)
    The company needed money to continue in business. Whether it was to pay salaries or to finance acquisitions, the money was earmarked for business purposes, not a 5 month vacation in the Bahamas for the CEO.

    He isn't the one that gets to make such calls. He deserves no leniency for his actions. If he had actually made the company successful, it still wouldn't excuse him. If he had a good idea, then he should have been able to get money to finance it. If he couldn't convince people that his ideas were solid and that they would get a return on their money, then he didn't deserve to be running the company. He's like every other schmuck out there that can't launch whatever idea he has. It doesn't give anyone the right, the obligation, or the duty to commit crimes in order to finance their business.

    If anything, crimes like these need to have more severe penalties. There's far too much identity theft going on. Anyone caught doing it should be severely punished. White-collar crime in general should be punished much more severely than it is now, if only because it's so hard to build the cases in the first place. It's the same logic they're using for giving out harsh penalties for file-sharers. If the chances of getting caught are low, then the punishment must be more severe to have the desired deterrent effect.
  • by timeOday (582209) on Thursday November 02, 2006 @01:03AM (#16685105)
    I guess he's not a criminal until convicted, so here's hoping. I'm taking bets on whether his laywer will try to invent some creative legal defense based on his victims' employment contract. "Employees have no expectation of privacy on company-owned computer systems," or "all goods and information produced during the term of employment are sole property of Jackass Inc." you know, those kind of clauses. Or maybe the boss will sue the company for careless handling of personal information in violation of state privacy law (proven, naturally, by the fact that he was able to steal so much $$$). OK, I'm obviously paranoid, but I didn't start out this way, so there must be a reason for it.
  • Re:I'm a bit slow (Score:3, Insightful)

    by daem0n1x (748565) on Thursday November 02, 2006 @04:47AM (#16686093)
    Margaritas are mexican. Maybe you meant caipirinhas?
  • Doesn't matter (Score:4, Insightful)

    by Sycraft-fu (314770) on Thursday November 02, 2006 @11:31AM (#16689945)
    A company can claim that you have no expectation of privacy at work, and to a large extent they are right, still doesn't mean they can break the law. Identity theft is a crime period. It doesn't matter how you got the information. For example my parents probably could, if they wished, steal my identity. They have all the relevant personal info like my name, birth-date, address, SSN, mom's maiden name and so on. What's more, they have it all legally. Most of it they know simply by virtue that I'm their kid. However that doesn't mean they can pretend to be me, I'm not a minor they are no longer my guardians. If they applied for a credit card in my name it'd still be identity theft an/or fraud and they'd still go to jail.

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