Anybody know what happens if a stolen paycheck gets cashed? Will the company lose the money or will the person who cashed it for the person? An employee called me an hour ago and told me his paycheck was stolen last night. The owner of the company is ticked that he waited until now to report and indicated he may make the employee eat it if it gets cashed. I guess I thought anyone who cashs a forged check eats the cost and that you cannot just not replace a check for an employee. Anyone have first hand knowledge?