Lawsuit claims Hitachi America manager embezzled $8 million

We aren’t talking about a few hundred thousand but $8 million dollars.  Dennis Dowd, employed by Hitachi from 1979 until earlier this year is charged by the US Attorneys office in the Southern District of New York with setting up an authorized Hitachi health plan account where he diverted the money and used it to buy a house in Florida, a Lexus and to pay for one million dollars for consumer goods purchased with a credit card.

So what does this say about Hitachi America?  Lax auditors?  Loose corporate controls?  Is he the only one? 

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Tags: embezzlement, Hitachi America, Lawsuit