If Jill moves to California before distributing her IRA account, it will be taxable in California. Husband and Wife Sentenced For Embezzlement. I recently met with another prominent Silicon Valley business owner whose computer store was ruined because of a large embezzlement. Business owners who think their computerized accounting systems will protect them from employee malfeasance should think again. There is still a place for independent audits and internal control reviews in today's business world.
Computers can provide the opportunity for bigger thefts.
I attended a seminar on Electronic Security co-sponsored by Joint Venture Silicon Valley and the California Society of CPAs on June 6. The problem described is one we should all be concerned about. Donn Parker of SRI Consulting said we are on the verge of automated crime. Crimes can be systemized and packaged for sale to other criminals. In order to defeat professional criminals, the security system must be unpredictable.