Internal Fraud Refund Case Study

In this case, there are several conspirators who is involved in the fraud receiving punishment from either SEC or federal government. Robert Levin, the AMRE executive and major stockholder, and Dennie D.Brown, the company’s chief accounting officer, were subject to the punishment in the form of a huge amount of fine by the SEC and the federal government. This punishment came from reasons. After AMRE going public, the company have the obligation to publish its financial reports but its performance did not meet expectation. The investigation by SEC shows that Robert took the first step of this scam, fearing the sharp drop of AMRE’s stock price because of the poor performance of company. He abetted Brown, to practice three main schemes to present a false appearance of profitable and pleasant financial reports. Firstly, they instructed Walter W.Richardson, the company’s vice president of data processing, to enter fictitious unset leads in the lead bank and they originally deferred the advertising cost mutiplying “cost per lead” and “unset leads” amount, so that they deferred a portion of its advertising costs in an asset account. The capitalizing of advertising expenses allowed them to inflate the net income for the first quarter of fiscal 1988. Secondly, at the end of the third and fourth quarters of fiscal 1988, they added fictitious inventory to AMRE’s ending inventory records, and prepared bogus inventory count sheets for the auditors. Thirdly, they overstated the percentage

In December of 1996, Debra McCann and her two children were out shopping at a local Wal-Mart. The family was there to exchange and return merchandise previously purchased. After checking out late in the evening, the family was stopped at the entrance of the Wal-Mart store by an associate who thought that one of the children had been caught shoplifting previously. They were told that the police had been called and were told that they were not allowed to leave the store. Instead of actually calling the police, the store’s security officer was called. Sure that this was a case of mistaken identity, Debra McCann offered to show her identification, but was refused by the

On December 20th at approximately 5:30 p.m. A Hispanic male and a Caucasian male walked out of the Galloway ShopRite with carts full of unpaid merchandise. The Hispanic male took approximately $323.20 and the Caucasian male took about $409.18 of unpaid goods. Store managers went after them, and were able to recover $72.90 in merchandise. The remaining of the stolen merchandise could not be recovered. Management immediately contacted store Security personal, Victoria Winder, who call the police and took pictures of the license plate of the Toyota 4Runner the individuals took off in. The suspects were later identified as William Terpak Jr. and Jocsan Moradel-Flores using ShopRite’s video surveillance.

Estrela advised me that Walmart did not want to press charges against the defendant the second time he exited the store and concealed several items in his clothing. Estrela stated "We detained him before he actually exited all poins of sale the second time." Estrela advised me that Walmart did want to pursue criminal charges for the fraudulent return.

The amount listed is the enrollment agreement was 10,020.00 which gives a difference of :

Florida AG accuses Clearwater firms of fraud in property deals. Two Clearwater businesses and their president, alleging the companies defrauded consumers out of thousands of dollars in a land buying scheme. The defendants charged upfront fees on average of $2,250 for brokering the deals, sometimes promising to refund most of the money, but rarely following through on those promises, a statement said. 34 people were paid about $70,000 to Scott and the two businesses.

Facts: On 07/19/16 Orlando reviewed POS transactions and CCTV footage to confirm the allegation. On 07/20/16 Orlando interviewed Rahman with Store Manager (MGR) Richmond Gokool as a witness. Rahman verbally admitted to conducting fraudulent refunds, totaling $250.00 dollars. Rahman also provided written statement documenting these actions. Rahman agreed to pay restitution of $250.00, Rahman also agreed to pay back $50.00 on 07/20/16, which was processed as miscellaneous income.

On December 19, 2016 at about 8:30 am Mrs. Padgett made me aware of funds that had been taken out of a Gift Card WEPS District had set up the previous year through an Amazon account. Her concern was Christian Linville, an 8th grade student who attend NEMS, had used the account to purchase personal items. Mrs. Padgett stated she was going to purchase a book she wanted to use in a reading class and was going to use the funds to make this purchase. The account’s login was changed when she attempted to get into the account. Mrs. Padgett reset the password and accessed the account. Christian Linville’s name was entered into the shipping information and the purchase history showed items were purchased by Christian and shipped to his home address.

On April 10, 2017, AP closed an internal merchandise theft at the Bay Rockland for a value of $23.92. AP was alerted by exception reports that an associate had entered several times her rewards card number during customer purchases. The DVR showed that the associate entered her rewards card number manually at the end of several customer purchases. During the interview the associate admitted to using her rewards card for customer purchases and also to theft of Bay

Many organizations have been in the news over the past few years due to accounting ethical breaches that have affected their customers, employees, and the general public. I searched the Internet to locate a story in the news that depicts an accounting ethical breach. I selected Krispy Kreme. I enjoy their hot donuts and was curious to learn more about how they played with the numbers. For some reason I always want to dig into the trickery behind the manipulation of financial statements.

On 10/20/16, APM Orlando interviewed CSA Smith, with Assistant Store Manager (ASM) Jessica Ilarraza as a witness. During the interview, CSA Smith admitted to conducting fraudulent refunds for person gain totaling $405.00 After the interview, CSA Smith agreed to repay $405 00dollars and signed the agreement to repay.

Predication: On 10/27/2016, Store Manger (MGR) Rajdavi Alexander contacted Point of Contact(POC) Asset Protection Manager (APM) Marry Cuestas and reported that she found a bag of merchandise with a receipt that did not match the contents in the bag. Upon further video review, MGR Alexander found that Shift Leader (SFL) Taquan Mouton brought up a bunch of items from the sales floor and placed them in the vicinity of Register 5. Service Clerk (SCA) Dominique Mathis rang up the transaction under mouton's cashier number and then conducted a transaction Void. A few transactions later SCA Martins rings only a portion of the previous items and places all of the items from the transaction valid into a bag and hands it off to SFL Mouton. On 10/27/16,

Waste Management Inc., hereafter referred to as WMI, was established in 1968by Wayne Huizenga, Dean Buntrock, and Larry Beck. The company provided environmental and waste services in Canada and the United States. By 1990, due to strong growth via operations and acquisitions, WMI grew to become the major waste management company in the region. Unfortunately, actual growth was supported by aggressive accounting policies. However, with the fall of real; growth and profitability, Buntrock and his team started to manipulate financial reports of the company in order to keep its successful appearance (Brook and Dunn, 677).

As requested I have completed an analysis of the accounting fraud case at Computer Associates (CA) in preparation of your speech at the American Accounting Associations annual meeting. I have structured my analysis to correspond to six key questions that arose from the case and Stephen Richards actions while Head of Global Sales at Computer Associates.

A business can not work out without an account system, which includes internal. Internal controls are used by companies to make sure financial information is accurate and valid. Strong internal controls are signs of a financially healthy company and protect the company’s integrity. Strong internal controls can also increase a company’s profitability. There are several types of internal controls that companies used to protect themselves such as: Segregation of duties, asset purchases, supervisor review, internal audits and adequate documents and records. This paper will discuss several topics from a case study about And the Fraud