Premium Essay

Tallahassee Beancounters

In: Business and Management

Submitted By maxstone
Words 685
Pages 3
Fraud #1 What is the Fraud? The fraud consists of Equipment Overshipping and a kickback scheme.

Who is involved? Charlie Thurgood and Ben Hill.

How was it done? The first two months, April and May, TBC used Sports Chalet as its equipment vendor, however for the last two months, Ben Hill has diverted the business to Sports Equipment for no credible reason besides that Charlie is his friend, in the catalog there are no price differences between the two. Michele would submit the purchase order to Ben, so Ben had a chance to recreate purchase orders since they are left open and increase the orders. He would change the quantities ordered and told charlie to falsify the invoices. Charlie would also swap the shipping slips and the invoices so they would match TBC's records and alter the price on the invoice so the same total would be charged. Charlie and Ben could then fence the excess goods and divide the money.

What is the economic impact of the fraud for the last 4 months? This fraud has cost the Tallahassee Beancounters $4,150 dollars since it began in June.

How can this fraud be corrected? Ben had an overlapping authority when it came to choosing vendors, handling purchase orders, and paying vendors. By having access to all of these it was far too easy for him to use his position for fraud. Asking for the lost revenue back or possibly suing them for it. Sports Equipment could also be forced to deliver the amount of goods that appeared on the modified Purchase Order, giving TBC a stockpile of equipment that is not going to go bad. Fraud #2 What is the Fraud? Pilfering from the ticket sales cash box and hiding it in the ledger.

Who is involved? Ben Hill committed the fraud.

How was it done? Ben would alter the official ticket log to show less tickets as being sold and pocket the...

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