Last Sunday, Walmart accused two 18-year-old boys from San Angelo, Ryan Munoz and Carmelo Amigleo, of stealing over $1 million from the store during their employment over a year. Currently, the two boys are in jail awaiting their trial, and their bond has been set for $350,000.
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Teen employees stealing from Walmart on a large scale were reported to authorities, leading to an investigation that began on July 24th. After just 4 days, the suspects were located in nearby homes and arrested without incident.
It remains unclear whether the pair made off with cash or merchandise, but it is confirmed that the theft surpassed a whopping $1 million.
Last Monday, the SAPF Chief Travis Griffith held a press conference and urged the local citizens to provide any information they might have regarding the significant theft. The matter is currently under investigation, and the SAPF is looking into all possible leads.
The 2024 GITNUX Report reveals that Walmart suffers an enormous loss of around $3 billion annually from theft, with employee theft accounting for almost 43% of the total losses. Shockingly, statistics indicate that there is a shoplifting incident at a Walmart store every 48 seconds. The financial impact of each episode of shoplifting is significant, as it costs Walmart an average of $200. The company’s annual loss from theft is even more astounding, surpassing the annual revenue of several Fortune 500 companies, providing a clear perspective of the situation.
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