Accountant For A Small Town Land Development 545922

Vikkie was the only accountant for a small-town land development company. She was terminated when the company fell on hard times. One year later, when the owner of the company was reviewing the payments received from a land-owner for development cost, he discovered that they were five payments behind for a total of $150,000. He contacted the land owner who showed him the check stubs and cancelled checks. After further research he found that the account in which the checks were deposited belonged to Vikkie, his former accountant.

What type of fraud did Vikkie commit and what actions should be taken against her? Could this fraud have been prevented?