I think you're missing the point of what ik9000 and I are getting at. You are technically right in everything you are saying but we believe that this is being used as a scapegoat.
He absolutely should be fired for breaking company policy and i don't give a damn that he was porking someone or embezzling, it's company policy.
However, i am erring on the side of that this is a convenient reason for him to walk out without headlines being negative about the company.
Don't misjudge my suspicions with exonerating him, far from it.