Some people commit fraud in drips, taking just enough to elevate their lifestyles and to avoid suspicion. So, one drip at a time, over a 21-year period, Gregory Thomas Holland stole more than $1.7 million from those who trusted he would do the right thing. He didn’t.
AEP
AEP or American Electric Power, is based out of Roanoke, Virginia. For 35 years, Holland was trusted to oversee the accounts of customers. According to the Department of Justice, Holland “(was placed in a position) for managing AEP’s interests during customer bankruptcies, including filing claims on behalf of AEP as well as processing and collecting customer payments.” For 35 years, Holland worked, seemingly under the radar, to put in the hours and do his job.
Around 2000, Holland looked around the office, and perhaps the lack of supervision, checks and balances and hatched a rather nifty plan. And, let’s face it, he had already been occupying a desk for more than a decade by the point, dutifully grinding out his duties – day in and day out. Was it boredom or greed that began to work on his soul?
In his DOJ sentencing summary it was stated:
“In 2001, unbeknownst to anyone else in the company, Holland opened a personal checking account using AEP’s name and address.”
It was a hole in the system of epic proportion, that was so obvious, in fact, that everyone missed it. He opened a personal account under the name of his employer using the employer’s name and location. It was “brilliant,” and unethical as hell. So unethical, that I can’t imagine why no one at any local bank would not have flagged it and asked questions. However, as I said, by that time Holland had ceased to become a person and was essentially a fixture. He could fit into the customer service or accounting function of virtually any company; an older, slightly overweight, white-haired man who had the look of someone on the brink of retirement.
From 2002 to 2018, he was methodical in his greed and used the money to pay for “just enough.” He paid for membership in a golf club, second home, car payments, and his wardrobe. Obviously, he never reported the income to the IRS. In addition to the reported losses of nearly $1.7 million to his company, the IRS is basically sticking him with a bill for nearly $89,000.
Instead of Retirement
Instead of retiring to his lake house or playing endless rounds of golf, Holland has been sentenced to 36 months behind bars for wire fraud and filing false tax returns. I doubt the system will be overly lenient on him, unless he can magically come up with every penny, he has stolen from AEP plus everything he owes the IRS. When he leaves prison, he will be old and near penniless. He may be assigned to a federal penitentiary which is much harder prison time.
The question we might ask ourselves is how he rationalized his theft? We can search for deep reasons. Profound reasons. However, the answer might be rather clear: the day he looked around, he might have thought “These people are stupid. They deserve to get fleeced.”
And, maybe they were the greatest co-workers on earth and the bank where he created personal account, the friendliest in town, but at best, they were naïve and unprofessional.
Ethical behavior demands ethical training and oversite. That employees such as Gregory Thomas Holland have stolen billions across the business landscape is not surprising; that they continue to do so is troubling. To reduce unethical behavior, we might be well advised to see who is sitting, unnoticed, near the potted plants, or yawning away on the boxes of our virtual screens.
LEAVE YOUR COMMENTS!
