How a CFO steals millions… and no one notices?!

Tracy Coenen noticed.

Coenen

This week Koss Corp (NASDAQ: KOSS) announced that Sujata “Sue” Sachdeva was fired from her position as Vice President of Finance for stealing at least $4.5 million from the company. Two members of the accounting staff Sachdeva supervised were suspended without pay. And then the estimate of losses went up to $20 million.

And here’s where it gets crazy… read the rest at Sequence Inc. Fraud Files Blog.

Posted on December 26, 2009

One Response to “How a CFO steals millions… and no one notices?!”

Skell
August 4, 2010
You miss 100% of the shots you don’t take.

Rick Telberg

About the Author

Rick Telberg is a veteran analyst, advisor, commentator, editor, and publisher. He brings a unique background and perspective to research and advisory services for the professional services community.

Mr. Telberg may well be the accounting profession's most widely-known commentator through his long associations with the American Institute of Certified Public Accountants, Accounting Today magazine, and today, CPA Trendlines.

As an expert in management, marketing, media, and e-commerce, Mr. Telberg has served as Senior Editorial Director of Pro2Net Corp., now www.smartpros.com, and as Director of Online Content at CPA2Biz, www.cpa.com.

Previously, Mr. Telberg served as the early Editor-in-Chief of Accounting Today, and as Vice President/Group Publisher at Thomson Financial (now SourceMedia), overseeing Practical Accountant, Accounting Technology, and what is now AccountingToday.com.

Mr. Telberg was presented with a special citation by the National Society of Accountants for service to the profession and has served on a variety of boards and steering committees, including BKR International and the IBM Small Business Advisory Council. He is a graduate of New York University.

Click here for more by Rick Telberg

One Response to “How a CFO steals millions… and no one notices?!”

Skell