Connie works in the Human Resource department of a company and is
head of payroll. She needs some extra money and so she creates bank accounts in the name of employees who get fired or who leave the companyvoluntarily. Then she has those people stay on the payroll in order to have fraudulent payroll checks or bank transfers made to these people, but the checks or the transfer (direct deposit) goes to those bank accounts that Connie created in those names at the banks where she set them up (and she has her name on those account also - so she has access to the money). Unfortunately for the company this goes on for 5 years before the scheme is uncovered and Connie is caught.
Describe:
What type of fraud is this known as?
What do we call the employees that Connie was paying to accounts she controlled?
The fact that this took 5 years to catch indicates what?
Speculate as to what the company failed to do, in general.
Answers: 3
Business, 22.06.2019 05:50, eksdeeexe
Cosmetic profits. sally is the executive vice president of big name cosmetics company. through important and material, nonpublic information, she learns that the company is soon going to purchase a smaller chain of stores. it is expected that stock in big name cosmetics will rise dramatically at that point. sally immediately buys a number of shares of her company's stock. she also tells her friend alice about the expected purchase of stores. alice wanted to purchase stock in the company but lacked the funds with which to do so. although she did not have the funds in bank a, alice decided to draw a check on bank a and deposit the check in bank b and then proceed to write a check on bank b to cover the purchase of the stock. she hoped that she would have sufficient funds to deposit before the check was presented for payment. of which of the following offenses, if any, is alice guilty of by buying stock?
Answers: 2
Business, 22.06.2019 14:50, keishadawson
The following information is needed to reconcile the cash balance for gourmet catering services. * a deposit of $5,600 is in transit. * outstanding checks total $1,000. * the book balance is $6,400 at february 28, 2019. * the bookkeeper recorded a $1,800 check as $17,200 in payment of the current month's rent. * the bank balance at february 28, 2019 was $17,410. * a deposit of $400 was credited by the bank for $4,000. * a customer's check for $3,300 was returned for nonsufficient funds. * the bank service charge is $90. what was the adjusted book balance?
Answers: 1
Connie works in the Human Resource department of a company and is
head of payroll. She needs some e...
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