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PredictableChaos
User Rank
Platinum
Due Diligence
PredictableChaos   5/7/2012 2:25:56 PM
NO RATINGS
Looking over the Crazy Eddie blog, it looks to me like the auditors fell down. 

Most front-line auditors were young and inexperienced.  Some in just the first 6 months of working.  They were easily distracted and put off the scent by a full on-slot of charm and deception.  Trails that should have led to major gaps, were not followed.

Then Crazy Eddie rewarded the accounting firm with consultancy business that was worth several times the revenue of the auditing work.  This just made it easier for the accountants to be taken-in by a group of criminal minds.

PC

driven
User Rank
Iron
Re: The son-in-law perk
driven   5/7/2012 1:39:49 PM
NO RATINGS
Probably more honest work than earning millions by directly cheating investors, @Tenacious.

Tenacious
User Rank
Platinum
The son-in-law perk
Tenacious   5/7/2012 1:30:02 PM
NO RATINGS
I would like to earn nearly $600,000 a year just for marrying the daughter of the CEO.

Drivewaygirl
User Rank
Platinum
Re: Out of the mouths of felons
Drivewaygirl   5/7/2012 1:09:38 PM
NO RATINGS
Wow, the Crazy Eddie guys calling the kettle black. It's a funny world.

cat tail
User Rank
Platinum
Good advice
cat tail   5/7/2012 1:07:15 PM
NO RATINGS
Love the advice to read the footnotes @Sherri. It makes sense-I just haven't done it.

Noreen Seebacher
User Rank
Blogger
Out of the mouths of felons
Noreen Seebacher   5/7/2012 11:23:25 AM
NO RATINGS
I know the guys who masterminded the crimes are the best to offer insight, but geez. Still makes you wonder how this guy Sam avoided jail time. And I bet his family reunions are a lot of fun these days, after he spilled the beans on his cousin.

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