Nov 2, 2012 | Accounting Frauds
Another case of embezzlement in a small company. Accounting manager of Schmitt, Inc an air conditioning and electric company in Dade City, Florida, was charged with embezzling half a million dollars from the company. Michael Cougill, the manager, forged and cashed...Oct 29, 2012 | Accounting Frauds
Another case of embezzlement in a company due to lack of segregation of duties. Debra Skies who has been working as the office manager at McCord Engineering, Inc. since the company’s inception in 1985 recently turned herself in for embezzlement. Debra was let go...Sep 6, 2012 | Accounting Frauds
The Cayman Track Limited, a governmental authority that runs the horseracing tracks in Jamaica, has come under the radar for its improper accounting practices. An audit was commissioned by the Ministry of Finance to look into the reasoning behind the entity getting...Jul 18, 2012 | Accounting Frauds
The futures brokerage firm Peregrine Financial Group has filed for Chapter 7 protection, after its founder attempted suicide and amid allegations of fraud. It is alleged that more than $200 million had gone missing at the commodities brokerage. In his suicide note,...