Scott Morantz, CPA

End of the trail

• July 1, 2018

Between 1998 and February 2009, accountant James T. Hammes embezzled more than $8.7 million from his employer, G&J Pepsi-Cola Bottlers Inc. He was indicted shortly thereafter on 75 counts — including 38 for wire fraud and 36 for money laundering — but wasn’t arrested until May 16, 2015. Why did it take so long to arrest Hammes? After the FBI had questioned him in 2009 about the theft, he left his family and life, and began hiking the Appalachian Trail (AT).

Written By: Colin May, CFE, Scott Morantz, CPA

• • Accounting and Auditing
  • Financial Transactions and Fraud Schemes