Report on Financial Assertion Fraud System

 Report on Financial Declaration Fraud Structure Essay

Survey on Financial Statement Scam Scheme


ACC 556


Trainer NameReport in Financial Affirmation Fraud System

TO: Company Management

VIA: Learning Group


SUBJECT MATTER: Fraud Evaluation Findings

An index of the Matter beneath Investigation

Crazy Eddie Gadgets Stores a chattered business, traded within the symbol CRXY on the New York Stock Exchange. The company was under managing of Eddie Antar family members from 1971 until 1987 when Oppenheimer-Palmieri Fund (OPF) took over the company as a result of proxy bid (Sanburn, 2012). After having a very small amount of time; however , Oppenheimer-Palmieri Fund management decided to postpone the entire table of owners under the governance of the Eddie Antar family members to allow space for analysis of a possible fraudulent paradigm in the business (Silverstone, 2005). OPF employed the Apollo Fraud Investigation (API) to look at on the CRXY electronic retailers internal control procedures operation to prevent the occurrences of frauds and errors in the company's assertions. They were as well aided simply by safeguarding you’re able to send investors consideringg the Eddie Antar and family poor management handles (Albrecht, 2011). Soon after their preliminary inspections, Apollo Scam Investigation contacted with Elias Zinn and Victor Palmieri of OPF, thus getting to a concession on the preceding from the CRZY managing that sooner or later revealed scams schemes. Amongst others the Oppenheimer-Palmieri Fund had been informed the fact that Eddie's Gadgets had a considerable decrease in inventory value. This, according to the checking out team was provoked by Eddy Antar family treatment of the economic statements to fulfill the stock market requirement, and deceive the general public on the provider's financial condition (Albrecht, 2011). Additionally , supplier's credit rating terms with CRXY weren't adhered to, and this made creditors to freeze out the company credit viability. This kind of environment dished up as the detective measure to aid well...

Recommendations: Akron, C. (2004). Occupational Fraud and Abuse. Retrieved from


Albrecht, C. C. (2011). Principles of fraud assessment. In L. Wells, Expert Fraud Investigation. Newyork: Steve Willwy & Son Hoboken publishers.

Antar, H. (2011). The Crazy Eddie fraud religion of a white-collar criminal. White Collar Fraud. Retrieved by

Mulford, C. W., & Comiskey, E. E. (2002). The financial quantities game: Detecting creative accounting practices. New york city, NY: Steve Wiley & Sons.

Sanburn, J. (2012). People Are Stealing Tide Detergent and Utilizing it to Buy Prescription drugs. Retrieved 03 6, 2013, from

Silverstone, L. R. (2005). Fraud info: Techniques and Strategies for Detection. NY: David Willey & Sons, Inc.

Wells, J. (2011). Rules of scams examination (3rd ed. ). Hoboken, NJ-NEW JERSEY: Wiley.

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