Requirement: Present a recent example of fraud with non-cash assets or fraudulent reimbursement. Be sure to answer the following questions in your paper:
- Who committed the fraud?
- What was taken and what was its value?
- When was the fraud committed?
- Where was the fraud committed?
- How was it stolen?
- Why did the perpetrator commit the crime?
An executive at Tiffany & Co. (TIF) allegedly stole $1.3 million worth of jewelry from the company. How did she do it?
Very slowly, it seems. Ingrid Lederhaas-Okun, 46, worked as the vice president of product development at the jeweler's Midtown Manhattan headquarters from January 2011 to February of this year, when her position was terminated due to downsizing. The F.B.I. claims that between November 2012 and her dismissal, 165 pieces of jewelry went poof, including "diamond bracelets, platinum, or gold diamond drop and hoop earrings, platinum diamond rings, and platinum and diamond pendants." Lederhaas-Okun, authorities say, would check out the jewelry for professional reasons—marketing purposes, showing potential buyers, and so forth—and then not return them.
"She was careful to only keep items that were valued at under $10,000," says Scott Selby, the co-author of Flawless: Inside the Largest Diamond Heist in History. "Tiffany's has a policy of only investigating missing inventory that's valued over $25,000. That's what enabled her to do this; it was slow and systematic." Lederhaas-Okun has since been charged by the F.B.I. with wire fraud and interstate transportation of stolen property and she faces up to 30 years in prison if convicted. Carson Glover, a spokesperson for Tiffany's, says the company is "not in a position to comment at this time."
What did she do with her millions in stolen Tiffany's jewelry?
The details ...
The expert discusses fraud examination. When and where the fraud took place is determined.
Financial Statement Fraud Scheme..
Use the attached Case Study
Write a letter or memo in no more than 1,050 words to the organization's management and communicate the examination findings explained in the case. Include the following in your letter or memo:
•A summary of the matter under investigation
•The scope of the examination
•A summary of conclusions
•The factors that aided the examination
•The limitations on the examination