a GIANT payroll scam
Sorry ... couldn't help myself. Apparently, the payroll manager of the San Francisco Giants baseball team had sticky fingers.
In about a year, the enterprising young lady managed to allegedly embezzle $1.5mm. This appears to be a rate of $125,000 per month.
Note that internal audit, external audit or the Giants themselves did not catch this. The fraud was uncovered when Bank of America sent a confirm request to source the large deposits into Ms. Payroll Manager's (Ms. PM) personal bank account. Ms. PM had forged a letter to the B of A claiming that this money was a bonus for helping the Giants win the World Series.
Apparently the FBI was involved. Everybody loves baseball!
In about a year, the enterprising young lady managed to allegedly embezzle $1.5mm. This appears to be a rate of $125,000 per month.
Note that internal audit, external audit or the Giants themselves did not catch this. The fraud was uncovered when Bank of America sent a confirm request to source the large deposits into Ms. Payroll Manager's (Ms. PM) personal bank account. Ms. PM had forged a letter to the B of A claiming that this money was a bonus for helping the Giants win the World Series.
Apparently the FBI was involved. Everybody loves baseball!
posted by Kim J. Onisko MA, CPA, ABV, CFF, Cr.FA at
2:03 PM
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