Posts Categorized: Fraud Accounting

Payroll Fraud

Posted by & filed under All Articles, Fraud Accounting.

Paul McKunes, owner of M & M Equipment Services, in Ashland, Massachussets, pleaded guilty on January 15, 2010, to falsifying payroll records at his business so he could pay less in workers’ compensation insurance and taxes.  According to records, McKunes owed the state’s Unemployment Assistance program $21,180 in unpaid assessments and failed to withhold more… Read more »

Fraud at Koss Corporation

Posted by & filed under All Articles, Fraud Accounting.

Sujata “Sue” Sachdeva, the former vice president of finance and secretary at Koss Corporation, was arrested on December 21, 2009, for allegedly using interstate wire communications to defraud the company. The largest employee theft of 2009 was not detected by the auditors, but in fact resulted when American Express contacted Koss Corp. CEO, Michael J…. Read more »

The Fraudulent World of Hurricane Restoration

Posted by & filed under Accounting Principles, All Articles, Fraud Accounting.

Home Solutions of America, Inc., a hurricane restoration company, is charged by the SEC with recording millions of dollars in bogus revenues and issuing misinformation to fraudulently inflate its stock price. The scheme was compounded by transactions that occurred between Home Solutions and Fireline Restoration Inc., its largest subsidiary. All of this alleged activity happened… Read more »