Identify a case of corporate fraud by finding a current event or by researching historical cases. After finding a case, complete the following in your initial discussion post:

Briefly summarize the case, including what happened, who was involved, and what damages were incurred.
Note how the fraud was detected and discuss any red flags that appeared prior to detection.
Could an accounting and finance system have helped deter this fraud? If yes, how? If no, why not?
Are there any specific business policies and procedures that could have been in place that would have prevented the fraud from occurring? Explain.

Sample Solution