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Knowing the red flags of red-collar fraudsters could save your life

Unlike nonviolent white-collar criminals, red-collar criminals commit acts of violence to conceal their crimes. This article describes the red flags that signal red collar criminals' propensity for violence.

Written By: Frank S Perri, J.D., CFE, CPA

    • Asset Misappropriation
    • Criminology and Psychology
    • Fraud Investigation and Examination

All hoax and no cattle

Cody Easterday was a Washington state rancher and farmer with a sterling reputation. Then Tyson Foods discovered that for at least four years he sent fake invoices to that company, and another, for $244 million for the care and feeding of 265,000 head of cattle that didn’t exist. He pleaded guilty to wire fraud and is serving an 11-year sentence in federal prison. Here’s an analysis of the fraud from a prosecutor, investigators and fraud examiners.

Written By: Dick Carozza, CFE

    • Asset Misappropriation
    • Criminology and Psychology
    • Fraud Investigation and Examination
    • Fraud Schemes
    • Identity Theft
    • Securities Fraud

This scheme is a load of manure and more

In California a man conducted a cow manure Ponzi scheme; a former Amazon manager is sentenced for stealing millions from the company; and fraudsters in India scam victims by posting fake business numbers online.

Written By: Anna Brahce

    • Asset Misappropriation
    • Computers and Technology
    • Fraud Investigation and Examination
    • Fraud Schemes

Don’t allow trusted ‘Radars’ to subvert internal controls

All organizations have employees who are so smart, energetic and indispensable that they can manage integral functions without close supervision. But some of these “Radars” will succumb to their freedom and rob you blind.

Written By: Daniel Porter, CFE

    • Asset Misappropriation
    • Financial Transactions and Fraud Schemes
    • Fraud Prevention and Deterrence

2020 Report to the Nations: Organizations opting more for civil litigation, internal punishment

According to the ACFE’s 2020 Report to the Nations, organizations are favoring civil litigation and internal punishment over referring their fraud cases to law enforcement. Organizations opting for civil litigation increased to 28% in 2020 from the average of 23% for the past decade. Similarly, referrals to law enforcement have dropped from 69% in 2008 to 59% in 2020.

Written By:

    • Asset Misappropriation
    • Bribery and Corruption
    • Fraud Investigation and Examination
    • Whistleblowing and Hotlines

One step forward, two steps back

Fraud examiners are always working to persuade management to search for internal fraud and adopt wise prevention controls. However, anti-fraud professionals can only give their best counsel and then work hard for a good outcome. Here are a fraud examiner’s early successes in a case and later frustrating management decisions. Regardless, he’s not daunted.

Written By: Jason Shepard, CFE, ARM

    • Accounting and Auditing
    • Asset Misappropriation
    • Career and Professional Development

End of the trail

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
    • Asset Misappropriation
    • Financial Transactions and Fraud Schemes

Small town, huge fraud, insightful documentary

Kelly Richmond Pope, Ph.D., CFE, CPA, an associate accounting professor, has produced and directed a riveting documentary, “All the Queen’s Horses,” about Rita Crundwell’s historic $53 million embezzlement from the city of Dixon, Illinois.

Written By: Dick Carozza, CFE

    • Asset Misappropriation
    • Government Fraud

Out of the frying pan and into the fire

Crime, of course, doesn’t pay. And committing another crime in an attempt to resolve the financial consequences from the first will only dig the perpetrator into a deeper hole. In Dixon’s case, she narrowly avoided jail time for her initial fraud at Classen, but she’s now serving time for the Tompkins County probation violation and could serve even more from the drug charge in Nebraska.

Written By: John E. Little, CFE, CPA

    • Asset Misappropriation
    • Financial Transactions and Fraud Schemes
    • Fraud Prevention and Deterrence

Memorable cases, part 2

ACFE faculty members share more notable cases from the trenches with practical principles that you can apply.

Written By: Dick Carozza, CFE

    • Asset Misappropriation
    • Bribery and Corruption
    • Fraud Schemes

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