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re: Embezzlement and Naive Business Owners
Posted on 3/6/17 at 2:00 pm to Serraneaux
Posted on 3/6/17 at 2:00 pm to Serraneaux
I think that's where the expansion kind of covered him. As they were expanding, it was probably harder to track what extra expenses were from expansion and what was fraudulent.
Some of it makes sense as it to why it wasn't caught by normal variance analysis. But some of screams you didn't catch it due to naivety and incompetence.
I mean, the dude you're paying $50,000 a year is outbidding you at an philanthropy auction and ordering watches delivered to your bakery and you aren't concerned why the hell he is still working for you and hasn't quit?
Just about every red flag I've learned in a forensic course was hit here.
Some of it makes sense as it to why it wasn't caught by normal variance analysis. But some of screams you didn't catch it due to naivety and incompetence.
I mean, the dude you're paying $50,000 a year is outbidding you at an philanthropy auction and ordering watches delivered to your bakery and you aren't concerned why the hell he is still working for you and hasn't quit?
Just about every red flag I've learned in a forensic course was hit here.
This post was edited on 3/6/17 at 2:04 pm
Posted on 3/6/17 at 2:13 pm to southernelite
quote:
I mean, the dude you're paying $50,000 a year is outbidding you at an philanthropy auction and ordering watches delivered to your bakery and you aren't concerned why the hell he is still working for you and hasn't quit?
Yeah. Obviously hindsight is 20/20 but anyone that comes into an inheritance of that amount and is that flashy about their purchases, doesn't stay in their $50k/yr job unless they need it.
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