I was just reading about the guy who was accused a few days ago of embezzling a ton of money ($65 million, to be exact) from his employer Fry's Electronics. According to the complaint filed Dec. 18 by the Internal Revenue Service with the U.S. District Court in San Jose, Ausaf Umar Siddiqui -- the company's VP of merchandising and operations -- allegedly devised secret deals with five vendors that involved purchasing excessive amounts of merchandise above market rates in return for kickbacks ranging from 15% to 31% of the total order. That's some serious cabbage!

While high-dollar cases like this make a big splash in the news, cheating, theft, and embezzlement is all too common in many businesses, and it is something that every business owner and top executive needs to guard against. So how did Siddiqui manage to make off with $65 million from Fry's, which is famously obsessive about checking customers' bags before they are allowed to exit the store? As it turned out, Siddiqui had risen high enough in the organization to be above suspicion, and he was able to conceal his illegal dealings for several years.

Business is built on trust, and it's important for owners and executives to be able to trust those with whom they entrust the "keys" to the business. However, it is also true that some people are simply crooks, and they won't have any qualms about stealing every penny they can from your business. In some cases, this might mean that your business may face significant financial losses, bankruptcy, or outright failure.

I suggest that -- to borrow a phrase from President Ronald Reagan -- you should trust, but verify. Says entrepreneur Bill Kimberlin -- who lost $150,000 to a trusted personal assistant a number of years ago -- "I used to trust everybody. I still trust people, but I confirm."

Who do you trust?