Don’t Worry, There’s Still Plenty of Accounting Fraud Out There

Posted on by Caleb Newquist

In what might be a lagging indicator of recession-spawned misdeeds, the percentage of reported corporate frauds compared with all other reported incidents increased to 20.3% in the first quarter of 2011, a rise of more than 60 basis points from the previous quarter, according to data from 1,000 organizations worldwide. Of the 30,000 ethics- and compliance-related reports from people at those organizations in the first quarter, more than 6,100 concerned accounting or auditing irregularities, embezzlement, kickbacks, and other forms of fraud. [CFO]

Related Posts

Area Man Sentenced to Serve Pizzas in Lieu of Jail for Sales Tax Fraud

Buffalo. City Mission. Tuesdays. For a year. Unless you’re really hard up for some nourishment, we would avoid with extreme prejudice. This will make the Denny’s freebies look like a mess hall at Fort Bragg.

Joseph J. Jacobbi, 57, operator of Casa-Di-Pizza, a popular Elmwood Avenue restaurant, was spared a jail term on his massive sales tax fraud case, but the judge Monday ordered him to deliver 12 sheet pizzas to the City Mission once a week on Tuesdays for the next 52 weeks, beginning [yesterday].

After Jacobbi turned over a check for $25,000 — part of the $104,295.31 court officials said he withheld from the state between March 2004 and the end of May 2008 — the judge ordered the weekly pizza deliveries as a form of community service.

“I will leave the choice of toppings up to you,” he told the nonplussed restaurant owner.

Not that we don’t appreciate the judge’s creative sentence but shouldn’t the people at the mission get to choose the toppings?

Oh, wait…

Tax cheat sentenced to serve … pizzas [Buffalo News via TaxProf]