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Playing the Ponies: A $5 Million Embezzlement Case

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Title: Playing the Ponies: A $5 Million Embezzlement Case
Language: English
Authors: Howe, Martha A., Malgwi, Charles A.
Source: Journal of Education for Business. Sep-Oct 2006 82(1):27-33.
Availability: Heldref Publications. 1319 Eighteenth Street, NW, Washington, DC 20036-1802. Tel: 800-365-9753; Tel: 202-296-6267; Fax: 202-293-6130; e-mail: subscribe@heldref.org; Web site: http://www.heldref.org
Peer Reviewed: Y
Physical Description: PDF
Page Count: 7
Publication Date: 2006
Document Type: Journal Articles
Reports - Descriptive
Education Level: Higher Education
Descriptors: Deception, Antisocial Behavior, Crime, Justice, Accounting, Case Studies, Institutional Characteristics, Prevention, Audits (Verification), Investigations, Sentences, Correctional Institutions, Trusts (Financial), Industrial Psychology, Inspection, Quality Control, Criminal Law, Ethical Instruction
DOI: 10.3200/JOEB.82.1.27-33
ISSN: 0883-2323
Abstract: Fraud is a pervasive problem, and educating future business leaders, managers, and auditors about fraud is one way to attack the problem. This instructional fraud case chronicles the actual details surrounding a major embezzlement at a regional high school (RHS) that culminated in long federal and state prison sentences for the school's treasurer. Names have been changed, but otherwise the case is factual. This case can be used in an auditing class or a fraud examination class to help students understand the dynamics of financial fraud, including identifying (a) the elements of the fraud triangle and the red flags and internal control weaknesses that existed in this situation, (b) the steps that could have prevented the fraud, (c) the auditing issues related to the fraud, (d) the investigation process, and (e) the resolution of fraud through the justice system. Discussion relating the case to these learning objectives is included. A Case Study is appended.
Abstractor: Author
Number of References: 16
Entry Date: 2007
Accession Number: EJ773167
Database: ERIC
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  Data: Heldref Publications. 1319 Eighteenth Street, NW, Washington, DC 20036-1802. Tel: 800-365-9753; Tel: 202-296-6267; Fax: 202-293-6130; e-mail: subscribe@heldref.org; Web site: http://www.heldref.org
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  Data: Fraud is a pervasive problem, and educating future business leaders, managers, and auditors about fraud is one way to attack the problem. This instructional fraud case chronicles the actual details surrounding a major embezzlement at a regional high school (RHS) that culminated in long federal and state prison sentences for the school's treasurer. Names have been changed, but otherwise the case is factual. This case can be used in an auditing class or a fraud examination class to help students understand the dynamics of financial fraud, including identifying (a) the elements of the fraud triangle and the red flags and internal control weaknesses that existed in this situation, (b) the steps that could have prevented the fraud, (c) the auditing issues related to the fraud, (d) the investigation process, and (e) the resolution of fraud through the justice system. Discussion relating the case to these learning objectives is included. A Case Study is appended.
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      – SubjectFull: Deception
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      – SubjectFull: Antisocial Behavior
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      – TitleFull: Playing the Ponies: A $5 Million Embezzlement Case
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