Someone else I know has lost their job however the circumstances are greatly different from my other friend.
This friend was involved in fraud and theft. Those in the DC area are familiar with the name Harriett Walters and her theft of $50 million dollars from the DC Office of Tax & Revenue.
I was employed for a year with the District and worked in the same building, four floors up from Ms. Walters. I am sure I meet her at least once and that makes me sad. The scandal broke last year and all my former co-workers were highly upset. DC government has a horrible reputation for corruption, fraud, and incompetence; no matter how hard and diligent some work that reputation will never be erased because the actions of a few like Walters.
Back to my friend she was fired for being associated with and most likely she either accepted illegal monies or served as an agent to disburse monies. She had to have known that once the main culprit went down everyone else was going down too.
I want to ask her did you save all your money for the day you knew was coming? Did you cut your budget to the bone? Did you start looking for another position? That is my real question, why hasn’t you found a new job? How could she possibly have thought she wasn’t going to lose her job? Even if she returned what monies she received she had to have known her job was lost for betrayal of trust if nothing else.
I seriously hope she had planned ahead. But what if she hasn’t? What if she has no savings? What if she has no assets to liquidate? What if all of her available cash went toward restitution? What will she have to sell?
I cannot image what she is going through for two reasons. First, I would never have agreed to be a part of such a scheme. Second, for someone who just went through a long period of unemployment through no fault of her own; I cannot image the time it will take to secure another position once you disclose you lost your job through theft and fraud.
Will she qualify for unemployment? Will she be able to receive any government benefits? Most likely after she has exhausted all of her other options, how long will that take? Will she go through all of the money from her retirement accounts? She could live on that for awhile. IF she was a diligent investor, what if her retirement accounts were seized to pay portions of restitution?
The more I think about it the more depressed I become.