Featured Posts ... Scambusting
Compliance Week article: Koss Fraud Spotlights Small Filers’ Internal Control Issues
An article in today’s Compliance Week, Koss Fraud Spotlights Small Filers’ Internal Control Issues (subscription required), quotes me on internal controls and the auditors as it relates to the huge fraud committed by VP of Finance Sue Sachdeva at Koss Corp (NASDAQ:KOSS). I’m no fan of Sarbanes-Oxley...
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Marketing Fraud: Why multi-level marketing pyramids and financial ponzis are ignored by law enforcement
Dear Colleagues, Consumers and Pyramid Scheme Alert Supporters, A new essay recently posted on the False Profits Blog addresses a question many of you have raised. Why are multi-level marketing pyramids and financial ponzis able to ensnare so many people today? What is the power behind this Main Street epidemic? This...
[Continue reading: Marketing Fraud: Why multi-level marketing pyramids and financial ponzis are ignored by law enforcement]
Sachdeva and Koss Corp.: The indictment, the clothes, and the auditors
The case of the alleged theft of at least $31 million by Sue Sachdeva from Koss Corp. (NASDAQ:KOSS) carries on. Last week, Sachdeva was charged with 6 counts of wire fraud. Experts are saying this indictment came much faster than usual, as the Feds usually spend much more time thoroughly investigating cases. They’re...
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Pyramid Schemes & MLM
Dear Colleagues, Consumers and Pyramid Scheme Alert Supporters, A new essay recently...
Usana Health Sciences knows it products are being sold illegally in China
Almost thre years ago, Barry Minkow and Fraud Discovery Institute released a report...
Medifast continues to mislead shareholders
This week multi-level marketing expert Robert Fitzpatrick released his second report...
More on the endless chain recruitment scheme of Medifast and Take Shape For Life
Yesterday I referenced a new report on Medifast and Take Shape For Life by multi-level...
Read more posts from Pyramid Schemes & MLM.
Fraud News
Barry Minkow busts another fraudster
As if uncovering more than $1.8 billion in frauds hasn’t been enough, Barry...
One type of case I really enjoy working is suspected arson. On either a personal...
Why does the U.S. Postal Service exist?
Back in the day, a government-run delivery service was a good idea. It put some quality...
The end of the year is fast approaching, and its’ a good time to remind everyone...
Read more posts from Fraud News.
Auditing & Regulations
Compliance Week article: Koss Fraud Spotlights Small Filers’ Internal Control Issues
An article in today’s Compliance Week, Koss Fraud Spotlights Small Filers’...
Sachdeva and Koss Corp.: The indictment, the clothes, and the auditors
The case of the alleged theft of at least $31 million by Sue Sachdeva from Koss Corp....
The move to IFRS: All about greed
Professor David Albrecht wrote a great piece today about the push to move from U.S....
Koss Corp.: Commit the fraud and cover it up
I’ve been talking here, at DailyFinance.com, and to the media about the massive...
Read more posts from Auditing & Regulations.
Work & Writing
A review of Expert Fraud Investigation: A Step-by-Step Guide
My second book, Expert Fraud Investigation: A Step-by-Step Guide, was recently reviewed...
A review of Genesis Rocket, a tool used to grow your Twitter Followers
People have many different reasons for participating on Twitter and other social...
Calling all accounting and finance bloggers (and those who want to be bloggers!)
You feel obligated to blog. You think it would be a good way to “get your name...
CNBC Ask the Experts: Bankruptcy or debt settlement?
Run on over to CNBC’s site for the personal finance show On the Money…...
Read more posts from Work & Writing.
About the Author
Tracy Coenen is a forensic accountant and fraud examiner in Chicago and Milwaukee who investigates white collar crimes, including cases of financial statement fraud, embezzlement, tax fraud, and insurance fraud. She is the author of Expert Fraud Investigation and Essentials of Corporate Fraud and more than 100 articles on fraud featured in industry publications.-
