Embezzling problem gambler sentenced to jail

Master Organics logoA South-African mother of two is heading to prison for seven years after she cheated her bosses out of $219,186. The 42-year-old Tracy Galand was the accountant at a Cape Town-based company and she was responsible for creditor payments. Galand allegedly transferred suppliers’ payments to her private bank account.

Sophisticated system

Galand misused her position as bookkeeper to steal money from Master Organics to fund her gambling habit, a statement said. The 42-year-old gambling addict applied a sophisticated system to channel suppliers’ payments to her private bank account. The frauds took place over a period of two years.

Serious financial problems

The embezzlement came to light after one of the suppliers reported a number of late payments. Master Organics faced serious financial problems due to Galand’s frauds. The company was even forced to sell a farm, while the First National Bank withdrew Master Organics’ overdraft.
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