Synopses & Reviews
Fraud is a serious problem that goes beyond monetary losses. It costs jobs, corporate reputations, and individual dignity. Fraud Casebook: Lessons from the Bad Side of Business is the most comprehensive book ever compiled on fraud case studies, presenting the collected insights of some of the most experienced fraud examiners around the world. With revealing case studies handpicked and edited by Joseph T. Wells, the founder and Chairman of the Association of Certified Fraud Examiners (ACFESM)the world's leading anti-fraud organizationthis collection sheds light into the dark corners of government and commerce through professional investigations.
Organized around the various categories of fraud, the cases in this exceptional casebook explore three broad categories of fraud as well as their various sub-schemes: asset misappropriations, corruption, and fraudulent financial statements. Each case provides an informative and entertaining look into the complex social factors behind fraudulent behavior. The observations of each fraud examiner, drawn from years of practical experience, provide readers with invaluable perspectives, many of which have never before been conveyed publicly. Some of the sixty-two cases in Fraud Casebook include:
- Swimming with the Sharks, Pedro Fabiano
Con Artists Gone Wild, Heinz Ickert
Bodies for Rent, Rebecca Busch
Information Superhighway, Barry Davidow
Dialing for Dollars, Ian Henderson
The $13 Million Man, John Francolla
Her Passion for Fashion, Bethmara Kessler
Fraud Casebook: Lessons from the Bad Side of Business not only provides an insider look at fraud, it serves to educate readers to hopefully avert some of the mistakes made in the past. It illuminates the combination of timing, teamwork, and vision necessary to understand fraud and prevent it from happening in the first place. Finally, it challenges senior managers to better use their corporate resources to become much smarter about fraud, or risk becoming its victims.
This one-of-a-kind collection consists of 69 actual cases written by fraud examiners out in the field. These cases were hand selected from hundreds of submissions and together form a comprehensive picture of the many types of frauds and how they are investigated, across industries and throughout the world. The cases each are entertaining stories in their own right, as well as educational, and readers will enjoy reading them as they grow to understand more about the world of fraud.
Featuring sixty-nine handpicked fraud cases, Fraud Casebook: Lessons from the Bad Side of Business reveals the many faces of fraud, how frauds are detected, and how perpetrators are brought to justice.
Praise for Fraud Casebook Lessons from the Bad Side of Business
"I have known Mr. Wells for over twenty years. In my opinion, no one in the world knows more about fraud than he does."
W. Steve Albrecht, Associate Dean, Marriott School of ManagementBrigham Young University, Provo, Utah
"This book covers the entire range of fraud that can be encountered in the workplace."
Grant D. Ashley, Vice President for Corporate Security and SurveillanceHarrah's Entertainment Inc., Las Vegas, Nevada
"I had the pleasure of serving with Mr. Wells when both of us were volunteers for the American Institute of Certified Public Accountants. He knows as much as anyone about how to detect and deter fraud."
James G. Castellano, Chairman, RubinBrown LLP, St. Louis, Missouri
"I have worked with Mr. Wells for ten years. His reputation is unsurpassed."
John F. Morrow, Vice President, The New FinanceAmerican Institute of Certified Public Accountants, New York, New York
"Fraud Casebook is a terrific work. I highly recommend it."
Sherron S. Watkins, a Time magazine "Person of the Year," Houston, Texas
"No one has done more for fraud prevention and detection than Mr. Wells and the Association of Certified Fraud Examiners. Their guidance and training proved invaluable to my staff and me in uncovering the WorldCom fraud."
Cynthia Cooper, a Time magazine "Person of the Year," Clinton, Mississippi
JOSEPH T. WELLS, CPA, CFE, is the founder and Chairman of the Association of Certified Fraud Examiners (ACFE) and a former adjunct professor of fraud examination at the University of Texas at Austin. He writes, researches, and lectures to business and professional groups on fraud-related issues and is frequently quoted in the media. He has won top writing awards from both Internal Auditor and the Journal of Accounting magazines, and he is a winner of the Innovation in Accounting Education Award presented by the American Accounting Association. For his landmark research in fraud detection and deterrence, Mr. Wells has been inducted into the American Institute of Certified Public Accountants' Business and Industry Hall of Fame and named to Accounting Today's list of top 100 most influential people for the last nine years in a row.
About the Author
"Don’t just read this book. Read it and then look at your organization and evaluate your company's risks. Implement the lessons learned and the recommendations to prevent future occurrences so that you won't have to go through what I and the other people in this book experienced." (Strategic Finance, August 2008)
Table of Contents
PART 1: ASSET MISAPPROPRIATION.
1. High Art, Low Value: How a Connoisseur Became a Convict.
2. The Ambitious Payroll Manager.
3. The Insider.
4. Aloha, Hawaii!
5. What About Pete?
6. Check, Please.
7. The MoJo Skim Twins.
8. The Mole.
9. Her Passion for Fashion.
10. An Unaffordable Complex.
11. A Taxing Problem.
12. Phantom Links in the Supply Chain.
13. The Trusting Business Owner.
14. The $13 Million Man.
15. They Didn't Know Jack.
16. The Skim Sisters.
17. No Such Thing as a Free Lunch.
18. The Dirty Custodian.
19. The Video Game.
20. Bet Your Life on It.
21. When Petty Cash Isn't Petty.
22. Where Did My Money Go?
23. Three Strikes and You're Out!
24. Country Club Fraud - What a Steal!
25. Where in the World is Dina Sanchez?
26. School of Fraud.
27. Price Check on Register One.
28. The Sky is the Limit.
29. Supplemental Income.
30. An Innocent Perpetrator.
31. Dr. Amy.
32. Patriotic Game.
33. Would You Like the Special Poutine, if You Know What I Mean?
34. Three-ring Circus: An Expose of a Corporate Commission Embezzlement.
35. One Bad Turn Deserves Another.
36. Dialing for Dollars.
37. Wake Up Call.
38. The Dental Queen.
39. Shirley A. Little Wouldn't Hurt!
40. Just When You Though it was Safe.
41. How Many Ways Can I Defraud You?
PART 2: CORRUPTION SCHEMES.
42. A Contract of Convenience.
43. Corruption by Seduction.
44. "Big Easy" Business.
45. Unlucky 13.
46. It's 11 p.m. - Do You Know What Your IT Director Is Up To?
47. These Weights Didn't Measure Up!
48. Swimming with the Sharks.
49. A New York State of Fraud.
50. Information Superhighway.
PART 3: FINANCIAL STATEMENT FRAUD SCHEMES.
51. Banking on Fraud
52. Just a Matter of Time.
53. Bury Me Not in Guyandotte.
54. The Woolly Mammoth Eats Its Prey.
55. Double Damage.
56. How to Steal a Million Dollars Without Taking the Cash.
PART 4: OTHER FRAUD SCHEMES.
57. This Land Is Your Land, This Land Is My Land.
58. Paradise Lost.
59. Bodies For rent.
60. The Million-Dollar Breach of Trust.
61. Troubled Water.
Chapter 62. Con Artists Gone Wild.