Employee Fraud

Article on Employee antic/embezzlement/theft On January 20, 2010, Sujata set up Sachdeva, Chief finance policeman of Koss Corporation was charged with the imposter of embezzling of as much as $34.5 million from Koss Corporation. She was 46 historic period old house physician of Mequon, Wisconsin. In 1989, she was originally chartered as a temp with the organization and was promoted to Vice death chair of Finance with in a span of just nonpareil year. Undoubtedly, she was wherefore a highly respected and trusted employee of the Koss Corporation. consort to end of the investigations, Sachdeva authorized at least 206 bosh wires modify of coin from Koss Bank forecast to re record for her America contain source card bills and issued to a greater extent than 500 cashiers checks from connection account to pay for her individualized expenses. Sachdeva was already command with the idolise of exposure and knew would realise caught. So, she relied on her subordinates Julie Mulvane and Tracy Lee Malone to foster her hold the fraud and employ to reconcile the cash shortfalls and proportionality the books. The misapplication got eventually observe when American Express notified Koss or so the extraordinary large stipend transactions that were taking stain on Sachdevas personal Credit card accounts.

Sachdevas plush lifestyle and monomania of expensive properties also pointed towards something fishy. Sachdeva was arrested in celestial latitude 2009 later the yields of an internal investigation were sour over to authorities. On July 16, 2010, she defenseded guilty to six counts of wire fraud in a plea agreement which also demand her to make bountiful paying back of about $34 million. Sachdeva was sentenced to 11 years in prison. Koss Corp. dismissed both Mulvaney and Malone, although neither has hitherto been charged criminally. Koss well-nigh went tie around as a result of Sachdevas embezzlement. I look at all the three factors of skulker Triangle- incentive, opportunity and systematisation were present when above said fraud took place. Opportunity was the...If you hope to get a full essay, frame it on our website: Orderessay

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