£4 million fine for misconduct

The accounting watchdog in England, Financial Reporting Council, found that misconduct by Deloitte led to the collapse of Aero, an aircraft parts wholesaler. The misconduct cost Deloitte £4 million! The fine is the highest recorded by the FRC for misconduct of a firm....

Exercising on slot machines

Jazzercise, a physical fitness company, have filed a case against their former finance director, Sherri O. Potts, who was stealing from the company. Sherri is charged with 50 theft related charges including forgery, fraudulent appropriation and grand theft by an...

Lime Energy pays $1M for accounting fraud

Lime Energy Co. agreed to pay $1 million to settle accounting fraud charges filed by the Securities and Exchange Commission. SEC alleged that Lime Energy and four of its executives recognized millions of dollars of revenue improperly. In total $20million of revenue...