Spar Store: Retail Fraud Case

Upon arrival, I made contact with Walmart Loss Prevention Officers, Fabiano Estrela, and Marion Edwards. The defendant, later identified as Derrick Warren Jordan, was located in the loss prevention office with Estrela and Edwards.

After a year of battle in court Sherri Shepherd and her estranged husband Lamar Sally have settled their divorce and have come to terms with a child support agreement.

Computer based cash registers: Such systems automatically record various types of relevant data. Examples include employee codes, items and quantity purchased, totals due, type of

F. Controls over cash and credit: a. Individual accountability for cash stocks. This meant that most personnel who dealt directly with cash were held individually accountable for a specific sum of money that was charged out to them. This control was designed to address the problem that these personnel will make mistakes to create any large shortages or persistent patterns of shortages.

Carefully management of cash can allow a company to have enough cash to pay for obligations. Another way of protecting cash includes, appropriately investing idle cash. Cash must also be controlled by merchants, this may involve limiting access to employees and issuing a bank reconciliations. Merchants can compare the cash amounts from bank statements to the general ledger. These two but equal one another. Petty cash must be administered correctly and a proper petty system must be used by merchants. Disbursements can also be used to mange and protect cash.

The inventory throughout the second quater each an every item is variable and it totals at about £4,009,800 and turns over every 3 months/90 days. Cash sales should amount to about £7,500,000 if the inventory of £4,009,800 valued at cost turns over once in 90 days and if the average mark-up is about £2004, 9000. This figure can be roughly checked by referring to the expenses on the income statement. A rough measure of the cash expenses can usually be obtained by using the operating expenses less any non-cash expenses such as depreciation. Overall this shows that it is very important for Doomy corporations to have cash budget planned for its business, because it can help them assess if they are over spending their money and if the money is going and where it is coming in.

On 02/20/2017, I, Officer Rivera Ayala, DSN #232, responded to 201 Prairie St. in reference to a Fraud. Sgt. McMichael also responded.

By implementing and maintain multi-person checking systems, physical and electronic barriers and only allowing the minimum number of necessary people access to areas, cash and the ability to do certain tasks it helps ensure the safety of the company's assets. Different employees in the accounts department having checks in place to confirm balances match ensures that cash and equivalents are

It follows a strong internal control system for cash. A separate person is appointed to approve all purchases, payroll and any disbursement of cash. At the end of each month company prepares bank reconciliation statement to reconcile cash book balance and bank statement balance. Company keeps proper inventory record system. All these prevent frauds and ensure smooth functioning of the business.

Providing a self-check-out machine to save the customer’s time. Also, these machines will reduce the expenses that will be paid for the labours.

Kroger has the worst Customer Service. I went to purchase gas, and the gas pump has another person information left in it when I enter my card to get a pre authorization. The gas pump charged the other card , and I did not know it thinking my card was charged. I gave my credit card, DL and Kroger's card to the manager. After he viewed the cards, he yelled out this is FRAUD, This is Fraudulent Activity. I asked how can this be fraud when you have all my information on me, So I No Longer Shop at Kroger. Oh, Yes I called their Customer Service Department and reported directly to their Kroger's complaint on Kroger.com, but receive not One call today to apologize.

Although the income statement and balance sheet provide measures of a company’s success in terms of performance and financial position, cash flow is also vital to a company’s long-term success. Disclosing the sources and uses of cash helps creditors, investors, and other statement users evaluate a company’s liquidity, solvency, and financial flexibility. Financial flexibility is the ability of a company to react and adapt to financial adversities and opportunities. McDonald’s cash flow is

On August 25th 2015 Co-Founder of OXYwater Preston J. Harrison and his Wife Lovena Harrison were sentenced for Wire Fraud, Money Laundering and Tax Crimes. (Investor Claims, August 2015). I chose this case because it has many different types of fraud, including wire fraud, money laundering, and tax fraud, conspiracy to commit fraud, concealment of fraud, theft and misappropriation of funds. What makes this case so interesting is that the husband and wife co-owners of OXYwater are not the only criminals. Their co-conspirator was Thomas E. Jackson;

On February 26, 2016, AP closed a markdown case at the Bay St-Bruno store for a value of $75.68. The associate was observed during live surveillance giving unauthorized discount to his friend. Further investigation and also an associate complaint revealed that that associate had forced another associate to give him 2 unauthorized discounts on his personal purchase. During the interview he admitted given and received those unauthorized

Finally, we also observed that the cashier deposits mail receipts in the bank weekly. The internal storage of cash on the premises of the Company is not advisable for obvious reasons- theft, robbery, and unauthorized access. Employees with other intentions can alert external cohorts to raid or rob the Company at night or at another time to gain access to the cash stored on the premises. Additionally, the storage of the cash on the premises presents a "working hazard" for the employees as outsiders wanting to gain access to the cash may subject them to unwanted raids. The use of a bank on a daily basis contributes significantly to good internal control over cash. The company can safeguard the cash on a daily basis by using a bank as a depository and