Nov 11, 2016 | Accounting Frauds
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....Oct 25, 2016 | Accounting Frauds
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...Oct 21, 2016 | Accounting Frauds
FMC Technologies Inc and two of its former Controllers settled charges with the SEC, that it overstated profits in one of its business segments. The reason for the overstatement- to meet internal targets, the method of overstatement- improper adjustments and...Oct 20, 2016 | Accounting Frauds
Roger Stadtmueller, a CPA who owns Stadtmueller & Associates, an accounting and consulting services firm in Spokane Washington was charged and sentenced to 15 months of prison for filing fraudulent tax returns for his own company. Stadtmueller had set up a...Oct 19, 2016 | Accounting Frauds
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...