Forensic Accounting Services, LLC
Piecing Together Financial Puzzles®
The tri-state area seems to have more than their share of financial investor frauds. Long Island, New York. Nicholas Cosmo, convicted in 1999 and served 21 months in federal prison for mail fraud, is accused of stealing $370 million in a Ponzi scheme. Who did their due diligence in deciding to invest their funds with Cosmo, a convicted criminal with …
No sign of Florida financier or his clients’ millions – good thing it may only be $300 – $400 million this time. Just how many of these are out there? How many individuals are going to abscond with millions and billions of other people’s money before something is done to protect individuals from these schemes? So Arthur Nadel, praised “successful” …
Here’s a story right on point about embezzlements and small businesses. This story appeared on the front page of the Hartford Courant today. It is right on point with what is happening with employees and thefts. I too would love to see a registry of past embezzlers. We could extend that to include all the past embezzlers turned consultants like the …
It’s amazing how life can change in a moment without notice. I am a big advocate for being thankful for the things you have in your life today, such as family, friends, and your health. So many in society are always seeking more, totally unappreciative of what they have, often much more than most have, and are trying to achieve …
Another staggering case – $65 Million by one individual in embezzled funds through kickbacks. California’s Fry’s Electronics VP Arrested for Embezzling over $65M This case seems really interesting. The kickback arrangement doesn’t seem to have been detected through anti-fraud measures, internal controls, employee tips, external audit procedures, or any other common means. Rather, it appears the only reason this case …