Almost $1,000,000 in credit card fraud

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jlk82
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Almost $1,000,000 in credit card fraud

Postby jlk82 » Tue Mar 29, 2011 1:27 am

A man in Galt CA was charged with close to a million dollars in fraud on his employers credit card.

March 26, 2011 http://www.lodinews.com/news/article_339228e1-5c99-5e04-9721-16db52825706.html


agenda_zero
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Postby agenda_zero » Mon Apr 04, 2011 2:16 am

If he was spending $40,000/month fraudulently as claimed then there is serious mis-management going on at the company. Such gross fraud should have been uncovered almost immediately. Cash advances at casinos? Jewelry store purchases? Car payments? And you are telling me no one in HR thought the credit card statements were suspicious? The HR department must have either been in on the con or grossly incompetent of their basic responsibilities.

peace13
 

Postby peace13 » Sun Apr 10, 2011 2:38 pm

Whatever punishment maybe given to any man like this, the crime trend does not seem to reduce. Everyday you find a new fraud case somehow around your area, by your friends or in the news.

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Mogul of Pineapples
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Postby Mogul of Pineapples » Mon Apr 11, 2011 3:48 pm

agenda_zero wrote:If he was spending $40,000/month fraudulently as claimed then there is serious mis-management going on at the company.


Agreed but that shouldn't excuse what he did or lessen his punishment if he is guilty.
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fantasy86dj
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Postby fantasy86dj » Sat Jul 30, 2011 6:07 pm

That is a bucket load of money - I could not in a lifetime charge that much money in one year. Hopefully the company cracks down so something remotely like this never happens again.

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Postby sticf » Sat Jul 30, 2011 6:45 pm

Interesting read.

As the controller I am sure he thought he would never get caught. Hopefully the company has learned its lesson, always check the checker when it comes to the finances in your business. I am sure this is why many companies have outside auditors look at the books.

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Postby naomibatac » Wed Sep 07, 2011 11:00 pm

I firmly believe that companies should have internal control. In the case of the credit card, aren't they supposed to check if the expenditure is in large amounts and frequent?
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