TERMINATION FOR FALSIFYING HOURS WORKED

Myself and a couple of other coworkers turned in evidence directly to HR that another employee who was put in charge of the time entry system (for pay) was falsifying hours for his buddies that were not being worked. He was also falsifying his own hours (putting in regular hours worked on days when he wasnt in, instead of using his paid time off). HR confirmed our info was correct after looking into it, thanked us, told us there would be no retaliation for reporting this, and said they now had "cause for action". Well, over a month later, the only thing we could see has happened is the time entry duties were quickly taken away from this person. He still holds a job at the company he basically stole from. After a little more than a month, should we now assume this person will not be terminated for this serious offense, or do you think it could still happen soon?