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How a CFO Landed in Prison

DATE: January 1, 2013
BY: Jon Lambiras
SOURCE: Fraud Magazine (Jan./Feb. 2013)

This article presents a case study of a CFO’s accounting fraud that led him to prison. The scheme was a securities fraud aimed at investors. It involved ghost revenues, fictitious invoices and shipping documents, cost-of-good sold entries that were delayed or avoided altogether, and pulling otherwise legitimate revenue into earlier accounting periods. The article delves into interesting aspects of how and why the CFO did what he did.

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