James Rose

Milking Investors Through Financial Statement Fraud

• September 1, 2004

Parmalat, “a milk-and-cookies conglomerate" seemed at first glance to be above suspicion. But the firm began to implode when the Italian regulatory commission began its investigation, a Parmalat bank account supposedly holding 3.9 billion Euros was found to be fictitious, and Parmalat fired its two chief auditing companies. This one will last for years.

Written By: James Rose

• • Accounting and Auditing
  • Fraud Investigation and Examination