Attestation Update – A&A for CPAs

Technical stuff for CPAs providing attestation services

Tragedy of fraud – another case study – 2

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Previous post started a discussion of the consequences of Amy Wilson’s embezzlement story told here. These two posts are another case study of the tragedy of fraud.

I’ve discussed the consequences of fraud extensively on my blog. Even compiled those posts into a book, available at Amazon.

Let’s wrap up a review of the consequences earned by Mrs. Wilson and the impact on innocent people she loves.  Here are more things visible in her article:

I’m guessing this covers sentences a lot of ground:

My criminal actions devastated my family emotionally and financially.

Look at the huge hole she is in and the effort it will take over many years to climb out:

She has to pay back her employer and is working very hard to do so:

Through my employment and the funds I earn from speaking, I am making restitution to my victim.

It will take a long time for her to rebuild the trust of her immediate family. Ponder the hurt she has seen in her loved ones:

It has taken years for us to work through the feelings of anger and betrayal I caused.

Her family still has regained only partial trust in her:

My family has forgiven me, but they watch me closely to be certain my actions prove I am the changed person

Imagine the hurt and pain of her loved ones she has to work through every day.

Today, my family and I continue to rebuild our lives.

She is currently on probation, which involves severe restrictions on her freedom.

Just as a guess, that felony conviction also means she will never vote again, although I don’t know what state law allows where she lives.

Why write this post?

I’m not writing this to generate sympathy for Mrs. Wilson. I’ve not spoken with her, but would make a guess she does not want sympathy or condolences.

Quite the contrary. Several comments in the article suggest she owns everything that has happened as a consequence.

Instead, I write this series of posts for the same reason Mrs. Wilson wrote her article – that my small voice might:

  • prevent others from committing fraud and
  • motivate senior managers to implement strong internal controls.

Her closing comment:

I hope my story helps prevent a fraud or stops one in its tracks. I hope especially that others benefit from the lessons I have so sorely learned. I hope somewhere to save someone else the pain of committing such a foolish act, or to prevent a business and its owners from a betrayal such as mine.

Update: here are my posts in this series:

Written by Jim Ulvog

March 20, 2013, 8:34 am at 8:34 am

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