September 25, 2020

Accountants Behaving Badly

Accountants Behaving Badly: Ex-Deloitte India CEO Gets 7-Year Audit Ban, KPMGer Fired for Facebook Rant, Ponzi Schemer Gets 10 Years

Plus, the engagement quality review partner for Deloitte India also got banned by an audit regulator in connection with IL&FS audit failures. NFRA bars former Deloitte head from audit for 7 years over lapses at IL&FS [Livemint] Former Deloitte Haskins & Sells CEO Udayan Sen was banned from auditing for seven years and fined Rs […]

Accountants Behaving Badly: PCAOB Fines Australian Firm, Larcenies In Massachusetts, Slammer Time

Plus, a former chartered accountant in India is accused of murder, and a U.K. accountant is jailed for three years for stealing thousands of pounds from car dealership. PCAOB fines Australian accounting firm $50,000, revokes registration for not following auditing rules too well [PCAOB] The PCAOB recently revoked the registration of Sydney-based HLB Mann Judd […]

Accountants Behaving Badly: Ex-KPMG Auditor Arrested, Embezzler Gets 5 Years, Fraudster Gets 2 Years

Plus, Australian accountant caught up in cheese scandal, and an accountant in Fiji accused of defrauding a client pleads not guilty. Sipho Malaba arrested in connection with the R2,7 billion VBS Bank robbery [Pindula News] Former KPMG South Africa auditor Sipho Malaba was one of seven people who were arrested on June 17 for their […]

Accountants Behaving Badly: KPMGer’s Racist Facebook Rant, Wife Killer Charged Again, Thankful For the Rona

Plus, serial embezzler sentenced to nearly three years in prison, and United Arab Emirates accountant jailed for money laundering. KPMG distances itself from manager’s ‘racist’ Facebook rant [Trinidad Express] Sachin Boodram, an audit manager at KPMG in Trinidad and Tobago, probably should’ve just stuck to posting selfies, inspirational quotes, and recipes on his Facebook page. […]

Look Out, Australia, You Have a Wild Accountant With an Aggressive Foot Fetish on the Loose

In my many, MANY years on this website, I’ve somehow been tasked with the job of writing up every perverted accountant who comes across our collective desk. I’m not entirely sure why this is, I think it started as a joke many years ago as my former colleague knew I loved to binge on old […]

Accountants Behaving Badly: Insider Trader Settles with SEC, Embezzler Gets Jail Time, Maritime Thief

Plus, accountant’s tax fraud conviction upheld in court, and a Canadian accountant is banned by financial regulator. SEC charges biotechnology company CPA with insider trading [SEC] Jana Faith Kiena, CPA, a former contract accountant in the revenue recognition group at biotech company Illumina, will pay about $374,000 to settle insider trading charges for using confidential […]

Accountants Behaving Badly: Boozin’ It Up, Embezzling Old Folks’ Home, Fake Robbery In India

Plus, two bookkeepers—one for a church and the other for an accounting firm—are busted for stealing money. Trainee accountant stole £60,000 from boss to fund six months of hard drinking [Metro] Jake Currie used his job as a trainee accountant to fake invoices and frittered away £40,000 of the money he stole on getting wasted […]

Accountants Behaving Badly: PCAOB Fines CPA, Scammer CPA Pleads Guilty, CPA’s License Suspended

Plus, an accountant from India is accused of spewing hatred, and a Michigan tax preparer allegedly stole more than $400,000 from clients. PCAOB fines CPA firm owner for not playing by the rules [PCAOB] Rizwan Ahmed, owner of Ahmed & Associates CPA P.C. in New York, was fined $10,000 by the PCAOB on April 21 […]

Accountants Behaving Badly: Ex-BDO Puerto Rico MP Charged, Sick Demands, Stealing $365K

Plus, chartered accountant jailed after stealing £86,000, and bankrupt New Zealand accountant sentenced for swindling horse trainers. Ex-Puerto Rico officials charged in corruption probe [Bloomberg] Fernando Scherrer-Caillet, ex-managing partner of BDO Puerto Rico, was one of six people indicted by the U.S. Justice Department on March 11 over allegations of theft, money laundering and wire […]

Accountants Behaving Badly: Ex-UAW President Charged with Embezzlement, Not Guilty Plea In Theft Case, Tax Fraud Sentencing

Plus, an accountant in India was arrested for secretly recording videos of women taking baths, and an Oklahoma City accountant was sentenced to 18 months in jail for embezzling more than $175,000 from her former employer. Former UAW President Gary Jones charged in U.S. corruption probe [Reuters] Former United Auto Workers President Gary Jones, who […]

Accountants Behaving Badly: Guilty Plea In Panama Papers Case, NY Accounting Firm Arraigned, Owning Up to Ponzi Scheme

Plus, accountants from India are in hot water for embezzlement and fraud, and a Florida law firm accountant charged with attempted first-degree murder faces additional charges. Accountant Pleads Guilty Ahead of Trial in Panama Papers Case [Wall Street Journal] Richard Gaffey pleaded guilty in federal court on Feb. 28 to charges he helped a client […]

Accountants Behaving Badly: Jail Time for Filing False Tax Returns, and BDO Malawi Given Stiff Fine

Plus, accountants in India got into trouble for fraud, duping investors, and forgery, while an accountant in Australia was charged for allegedly defrauding a business out of $200,000. Delaware County business owner sentenced to 4+ years in prison for stealing funds from clients, filing false forms with the IRS [Justice Department] Accountant Myles Hannigan was […]

Accountants Behaving Badly: Ex-Marks Paneth Partner Going to Prison, Duluth Chamber Thief Faces New Charges, Selling Unregistered Securities

Plus, an ex-IT accountant in Tokyo was arrested for allegedly embezzling more than 10 million yen, and a Portuguese accountant is accused of having aided illegal immigration and falsified documents. Prison sentence for $2M Westchester fraud marks former Stamford CPA’s fall from grace [Westfair Online] Steven L. Henning, a former partner-in-charge of a litigation group […]

Accountants Behaving Badly: Golf Club Thievery, Ripping Off Nonprofit, Tax Collector Gets Jail Time

Plus, tax preparers from Louisiana, Mississippi, and New York got into some trouble. Former accountant at Somerby Golf Club in southeast MN charged with stealing $450,000 from business [CBS Minnesota] Gordon Craig Perkins, who was in charge of handling the money, expenses, and bills for Somerby Golf Club in Byron, MN, was charged last week […]

Accountants Behaving Badly: Screwing Over the Mennonites and Amish, Exploiting Elderly Clients, Guilty of Conspiracy

Plus, an Indiana accountant gets jail time for wire fraud, and an Arkansas church accountant is in police custody for allegedly stealing more than $70,000. Berks County accountant allegedly victimizes the Mennonite and Amish communities in massive Ponzi scheme [Justice Department] Philip Riehl was charged on Jan. 31 with conspiracy, securities fraud, and wire fraud, […]

Arthur Andersen & Co.

Accountants Behaving Badly: Andersen Alum Charged with Fraud, Sentencing Postponed In Nxivm Case, Embezzler Jailed

Plus, a Las Vegas tax preparer pleaded guilty to filing bogus returns, and a New Jersey tax preparer pleaded guilty to tax evasion. Naperville man convicted of theft 25 years ago charged again with swindling woman’s estate [Chicago Tribune] Raymond Parcon, who went to federal prison 25 years ago for embezzling more than $1 million […]

Accountants Behaving Badly: Jailed Over Child Porn, Andersen Alum Fired By Law Firm, Nursery Thievery

Plus, ex-Las Vegas CPA pleads guilty to bribery, and a bookkeeper is accused of stealing $400,000 from two family businesses. San Rafael accountant, ex-Boy Scouts volunteer gets prison for child porn possession [KPIX] John Blecka, CPA, was sentenced in federal court in San Francisco on Jan. 14 to two years and nine months in prison […]

Accountants Behaving Badly: Ex-Senator’s Tax Guy Gets 18 Months, Embezzling $65M From Clients, Swindling Chamber of Commerce

Plus, retired Arkansas accountant pleads guilty to bank fraud, and soon-to-be-jailed Wisconsin accountant used stolen tax refunds to buy a hooker and drugs. Accountant who helped Brian Joyce evade taxes sentenced to 18 months in prison [Boston Globe] John Nardozzi, a CPA from Waltham, MA, who conspired with former Massachusetts senator Brian Joyce to cheat […]

Accountants Behaving Badly: Too Many Pints, Fraudster Gets 18 Months In Jail, Egypt Tax Authority Chief Arrested

Plus, a couple of tax preparers thought they could get away with defrauding the IRS. They were wrong. Drunk trainee accountant crashed car after Leeds night out [The Yorkshire Post] Archie Scott was banned from driving for 20 months and was sentenced to 12 months of community order with 50 hours unpaid work after he […]

Accountants Behaving Badly: Deloitte Malaysia Partner Fined, Guilty Plea In $1.2M Scam, Jailed for Xmas

Plus, several tax preparers have run afoul of the law. SC fines Deloitte’s partner for non-compliance [The Malaysian Reserve] Huang Khean Yeong, a partner at Deloitte PLT, was fined RM63,000 by the Securities Commission Malaysia’s Audit Oversight Board on Dec. 26 for failing to comply with the international standards on auditing when performing an audit of […]

Accountants Behaving Badly: Discrimination at EY U.K., Jail For Cancer Center Embezzler, Client Scammer Gets Prison Time

Plus, ex-accountant for city of Dunbar, WV, gets one year in prison for embezzlement, and former Suzuki accountant faces a seven-year jail sentence for stealing $1.8 million. EY deals partners accused of bullying and discrimination [Financial Times] Current and former staff in the Transaction Advisory Services team at EY U.K. described a culture they claimed […]

Accountants Behaving Badly: Sexually Assaulting Children, Guilty Plea In Visa Fraud Case, A Roudy Theft

Plus, U.K. accountant charged with misleading pensions regulator, and an Isle of Man chartered accountant is banned. Accountant, 57, and his boyfriend, 56, are jailed for total of 30 years after sexually assaulting children as young as 11 while they filmed their sick acts [Daily Mail] Asswipes. Richard Townsend, 57, abused children as young as […]

Accountants Behaving Badly: 367 *Years* In Jail, Scamming the Elderly, Wire Fraud Indictment

Plus, Kia Motors bookkeeper’s embezzlement case continued to January, and tax preparer gets 27-month sentence in scheme to defraud the U.S. Accountant sentenced to 367 years in prison [Onlanka.com] A court in Colombo, Sri Lanka, sentenced Hikkaduwa Liyanage Nandasiri, the former accountant of a public company, to 367 years of rigorous imprisonment [emphasis added] after […]

Accountants Behaving Badly: Retirement Fund Theft, Defrauding Nursing Home, Fraudster Going to Jail

Plus, two tax preparers, who as it turned out weren’t registered tax preparers, are sentenced for filing false tax returns. Plymouth accountant charged with stealing from county retirement board [Wicked Local] Paul Hurley, the former accountant of the Plymouth County Retirement Association, is accused of stealing money from the fund. He was arrested on Nov. […]

Accountants Behaving Badly: No Jail for PwC Peeper, Guilty Plea for Embezzler, Catholic Church Crook

Plus, no more lavish lifestyle for part-time accountant, and an accountant gets busted for stealing grocery gift cards. High-flying PwC accountant, 24, who was caught with 1,700 upskirting images after he was spotted behaving suspiciously in Topshop on Oxford Street store is spared jail [Daily Mail] Leon Chan got a suspended prison sentence. On Friday […]

Accountants Behaving Badly: Ex-KPMG Auditor Detained, Stealing From Clients, Ripping Off Boss

Plus, healthcare accountant sentenced to two years in jail for embezzlement, and tax preparer gets three years for filing fraudulent tax returns. Auditor detained after saying devil told him to kill his sister [Metro U.K.] Khalid Ashraf, who had worked as an auditor for KPMG for eight years until October 2018, pleaded guilty to manslaughter […]

Accountants Behaving Badly: Drugs and Sex Trafficking, Bookkeeper Busted for Embezzlement, Visa Fraud

Plus, a bunch of tax preparers are going to be spending some quality time in jail. Kentucky man charged with sex trafficking, drug conspiracy [Associated Press] Mark Milslagle, a former Kentucky accountant accused of paying for sex with young women who were addicted to drugs, faces federal conspiracy charges. Milslagle, 49, was charged on Nov. […]

Accountants Behaving Badly: Jailed Over Ponzi Scheme, Firm Fined In Pot Bust, Embezzlement Admission

Plus, tax preparers plead guilty to preparing fraudulent returns, and the owner of a tax preparation business failed to file his own taxes. Gambling accountant gets 14 years for $396M Ponzi scheme [Law360] Texas CPA Jay Ledford will serve 14 years in federal prison for his supporting role in a Ponzi scheme that netted $396 […]

Accountants Behaving Badly: Ripping Off Olympian, Ex-IRS Employee Jailed, Stealing From Your Own Firm

Plus, a Massachusetts accountant pleads guilty to tax fraud, and a Toronto accountant gets prison time for stealing from charity. Oregon CPA who ripped off Olympic snowboarder and spent trust fund of porn shop heirs headed to prison [The Oregonian] Nathan Wheeler was sentenced to four years and three months in federal prison on Oct. […]

Accountants Behaving Badly: Defrauding the IRS, Stealing From School, Drunken Leadfoot

Plus, an accountant allegedly stole thousands from an ice rink construction company, and a male tax preparer who pretended to be a woman named Alyssa Jean Pipes is accused of screwing over his clients. Former state senator’s accountant convicted of tax fraud [Justice Department] John Nardozzi, an accountant for former Massachusetts senator Brian A. Joyce, was […]

Accountants Behaving Badly: Train Station Turd, College Crook, Fake CPA’s Fraud

Plus, a New South Wales accountant got jail time for stealing moola from clients, and a Texas tax preparer is going to prison for a while for defrauding the U.S. Drunk trainee accountant who pushed man onto Tube tracks has sentence increased [The Times] Mathuram Muthuraja, a trainee accountant who drunkenly pushed another man onto […]

Accountants Behaving Badly: Rogue Tax Preparers, Suzuki Theft, Kiddie Porn

Plus, Filipino accountant gets jail time for embezzlement, and a CFO will spend time in a Canadian prison for stealing money to fund her opioid addiction. Former New Haven tax preparer pleads guilty [Justice Department] Devon Williams pleaded guilty on Oct. 2 to one count of aiding and assisting the preparation of a false tax […]

Accountants Behaving Badly: Big 4 Scammer, Dude Got His Nads Cut Off, Refund Stealing

Plus, accountant sentenced to seven years in jail for fraud, and church-swindling accountant gets sentenced to three months in prison. Accountant tricked girlfriend out of thousands in cancer scam [Accountancy Daily] Badal Arun Hindocha, who cheated his Internet girlfriend out of £4,300 by claiming he was dying from stomach cancer, received a suspended jail sentence […]

Accountants Behaving Badly: Naughty Kitty, Fancy Fraud, Cokehead Jailed

Plus, Colorado accountant arrested in child sex sting, and a UNLV accounting grad student is accused of killing ex-girlfriend. Essex accountant admits fraud against Cats production firm [BBC] Scott Hiskey, a U.K. accountant who worked for Monumental Pictures, pleaded guilty on Sept. 17 to a charge of fraud by abuse of position after admitting to […]

Accountants Behaving Badly: EY Gal Pleads Guilty to Fraud, PwCer Fired for Upskirt Pics, Grand Theft Guilt

Plus, wrongful death lawsuit filed against TV show accountant, and Scottish accountant jailed for protecting crime gang member. EY employee conspires in £76k staff fraud [Accountancy Daily] EY Executive Assistant Sukhbir Mawkin and her husband, Anil Mawkin, were sentenced on Sept. 11 for carrying out a £76,000 over four years, using credit card and personal […]

Accountants Behaving Badly: Defrauding Clients, CPA Ponzi Scheme, Wire Fraud Is a No-No

Plus, accountant jailed for lavish lifestyle fraud, and life in prison and hard labor isn’t a horrible enough sentence for one Zambian accountant. New Mexico CPA suspected of defrauding couple out of $1 million [Las Cruces Sun News] Thomas Laws was arrested on Aug. 26 for allegedly defrauding two clients of more than $1 million […]

Accountants Behaving Badly: FUBARed Over FBARs, Fake Returns, Landscaping Larceny

You are probably having a better Labor Day than these six accountants. Former CPA indicted for failing to report foreign bank accounts and filing false documents with the IRS [Justice Department] Ex-CPA Brian Booker was charged by a federal grand jury on Aug. 27 with failing to file Reports of Foreign Bank and Financial Accounts […]

Accountants Behaving Badly: Deadly Lunch Breaks, Embezzler Gets 10 Years, Church Swindler

Plus, tax accountant pleads guilty to scamming clients and a movie production accountant is accused of stealing money from his employer. Police: Lindenwold man’s ‘demeanor’ changed after co-worker’s murder [Cherry Hill Courier-Post] Kenneth Saal, a staff accountant at Engine Group in Princeton, NJ, since July 2016, was taken into custody on a murder charge at […]

Accountants Behaving Badly: Stealing From Nonprofit, Stealing From Restaurant, Stealing From Furniture Business

Plus, CPA for reality television stars indicted and accountant arrested for stalking woman. Accounting coordinator at non-profit facing fraud charges for embezzling $321K in organization funds [Justice Department] Danielle Strother-Rush, an accounting coordinator at a Pittsburgh-area nonprofit organization, was indicted by a federal grand jury in Pittsburgh Aug. 6 on charges of bank fraud and […]

Accountants Behaving Badly: Fraudsters Go to Court and Prison Time For Stalking Ex

Plus, a Maryland CPA and a California CPA both get jail time for embezzlement. Newton accountant charged with wire fraud and filling false tax return [U.S. Justice Department] Jeffrey Kellem, an accountant from Newton, MA, was charged with four counts of wire fraud and one count of filing a false tax return on Aug. 5 […]

Accountants Behaving Badly: Ex-CFO Busted For Embezzlement; Fraudulent Timesheets; Ripping Off Client

Plus, an accountant is accused of keeping a domestic slave at his house and an accounting officer is going to jail for swindling his firm out of £3 million. Former Walton Beverage financial officer sent to jail for embezzling company funds [The Bellingham Herald] David McLeod, CPA, the former CFO of Walton Beverage in Ferndale, […]

Accountants Behaving Badly: Tax Fraud, ‘Hopelessly Conflicted’ About Ethics, RICO Suave

Let’s see who made the news last week for conduct unbecoming of an accountant. Westchester tax accountant sentenced for tax fraud [Patch] Yorktown Heights, NY-based accountant Steve Sabba was sentenced to five years’ probation on July 18 after he pleaded guilty to third-degree criminal tax fraud and fourth-degree criminal tax fraud, both felonies, in February. […]

Accountants Behaving Badly: Insider Trading, Poker Player Gone Bad, Sex Toy Assault

Was there a full moon on July 10? Accountants were found to be doing bad things on that day. Ex-Illumina accountant accused of insider trading [CFO] Martha Bustos, a former accountant for Illumina, was charged on July 10 with leaking the biotech company’s quarterly results to a close friend as part of an insider trading […]

BDO Puerto Rico Managing Partner Resigns After Indictment In Massive Corruption Scandal

The words “managing partner” and “corruption” used in the same sentence is never a good thing, as we found out in the KPMG/PCAOB information leak scandal. But while there was no scheme to steal confidential information from an audit regulator going on in Puerto Rico, there were allegations of money laundering, theft, and wire fraud […]

Ex-KPMG Australia Senior Partner Avoids Prison For Being Too Stabby with a Campaign Volunteer

Even though he was convicted of two counts of common assault in court on July 4, former KPMG Australia partner Stavros “Steven” Economides was given a get-out-of-jail-free card. Economides, 62, who spent more than 30 years as a partner at KPMG, was sentenced to a 12-month good behavior bond after admitting to thrusting a corkscrew […]

Accountants Behaving Badly: Form 941 Shenanigans, Embezzlement, Stealing From Mom

Here are some accountants who failed badly at being a trusted advisor. Delaware County accountant charged with multiple tax offenses [Justice Department] Myles Hannigan, an accountant from Newtown Square, PA, was charged by the U.S. Attorney’s Office for the Eastern District of Pennsylvania on July 3 with one count of obstructing the due administration of […]

Accountants Behaving Badly: Alyssa Milano Lawsuit Settled, Money Laundering, Revenge=Jail Time

Here are some accountants who were up to no good last week. Alyssa Milano settles $10 million suit with former accountant [Variety] Actress Alyssa Milano has settled a legal battle with her former accountant Kenneth Hellie as the case was about to go to trial. Terms of the settlement were not disclosed. Milano and her husband, agent […]

According to This Infographic, You Guys Will Try to Expense Pretty Much Anything

One of the most fun things about business travel is seeing what you can get away with come expense report time. We’ve all taken liberties with our employer’s expense policy, although things I’ve put on expense reports would probably be considered lame: a pack of smokes, a four-pack of Surly Furious IPA, a bomber of […]

Accountant In College Admissions Scandal Will Find Out In October When He’ll Get Admission to Prison

As expected, Steven Masera, the former accountant of the bogus nonprofit and college consulting company led by Rick Singer, pleaded guilty to one count of conspiracy to commit racketeering today in Boston federal court for his role in the nation’s largest college admissions bribery scandal, USA Today reported. Masera, 69, is scheduled to find out […]

Former Marks Paneth Partner Admits to Screwing Investors Out of $2 Million

Steven Henning, CPA, a former partner-in-charge of advisory services at New York City-based Marks Paneth, could have as long as 20 years to think about his choices: Steven Henning pled guilty today [June 24] to participating in two wire fraud schemes. In the first, he falsely claimed to have entered into multimillion-dollar intellectual property deals […]

Accountants Behaving Badly: Update on Ex-Wife Basher, Bank Fraud Guilty Plea, Sexual Assault

Let’s see who in the accounting profession got into trouble with the law over the past week or so. Asian accountant, 51, who smashed his ex-wife’s head against a car and called her a ‘bacon basher’ after she began dating a white man is ordered to pay her £150 compensation [Daily Mail] Here’s an update […]

Accountants Behaving Badly: X Factor Winner’s Ex-Accountant Banned, Drunk Driving, Theft

Yes, there actually are accountants who behave badly who don’t work at KPMG U.S. or Deloitte U.K.: X Factor star’s accountant is banned from his profession [Essex Echo] Here’s an update to an article Adrienne wrote earlier this year: A south Essex accountant who defrauded X Factor winner James Arthur of almost £600,000 has been […]

Gambling Addict Accountant Who Expensed Fake Uber Receipts Thought He Could Pull a Fast One on Deloitte

A former Deloitte accountant in the U.K. pulled a Houdini and somehow escaped prison time after he tried to screw the firm out of £95,540 ($121,202) by expensing bogus ride-share receipts over a three-year period to fund a secret gambling addiction. Gurgyan Singh Kaley pleaded guilty to two charges of fraud by abuse of position. […]

Accountants Behaving Badly: Lots of Theft, Ponzi Scheme, Tax Evasion

Here’s a roundup of some bad stuff accountants did or were accused of doing over the past week or so. Auto shop accountant charged with stealing over $175K from employer [Chicago Sun-Times] Rungnapa Correia is accused of stealing more than $175,000 from a Bensenville, IL, auto repair shop she used to work at as an […]

Man Who Was Arrested For Repeatedly Stabbing a Hiker Near Los Angeles Apparently Works at BDO

We got a tip the other day that said an employee of one of the top accounting firms in the U.S. got into some trouble with the law last week: Look into the stabbing from Altedena on May 29th. The alleged suspect, Kristopher Brown works as a Senior for BDO Los Angeles. He’s currently in […]

Accountants Behaving Badly: Fun with Fridge Magnets, College Admissions Scam, That’s No Man, Baby

Here’s a roundup of some of the very bad things accountants have done over the past week or two. Nxivm accountant spelled out dirty messages with colorful fridge magnets [New York Post] The racketeering and sex trafficking trial of creepy old guy Keith Raniere, the leader of the sex cult Nxivm, is currently going on […]

Accountants Behaving Badly: Beating Up Ex-Wife, Tax Crimes, Stealing Lots of Money

Spend some time this Memorial Day remembering those who died serving our country and reading about how awful some people in your profession really are. Asian accountant smashed ex-wife’s head against a car outside David Lloyd centre and called her a ‘bacon basher’ after she began dating a white man who worked at their lettings […]

Accountants Behaving Badly: Busted with Meth, Stealing From Clients, Bank Fraud

A look at the best of the worst accountant malfeasance around the globe over the past week or so. British accountant, 47, faces the death penalty in the Philippines ‘after being caught with meth in a drugs raid’ [Daily Mail] Philip Joseph was in a flat with two locals when police burst through the door […]

Accountants Behaving Badly: Murder, Webcam Models, Defrauding Celebrities

It was a bad week for accountants from the U.K. with the first name of Andrew. AFC Fylde accountant blew £240,000 on sex, drink and drugs [BBC News] A semi-professional socc … I mean, football team in England nearly went belly-up because its finance director, Andrew Barnbrook, stole thousands of pounds from the team to […]

Bad MLB Pitcher-Turned-Bad Accountant Fesses Up to Stealing $145,000 From Employer

The Minnesota Star Tribune has an update on Ben Hendrickson, the former Milwaukee Brewers pitcher whose post-baseball accounting career took a dubious turn while employed by Floors Northwest in Fridley, MN. A Twin Cities man who briefly pitched in the Twins organization and had two short stints as a Major Leaguer has pleaded guilty after […]

Accountants Behaving Badly: Strangling Wife, Stealing Money From a Band, Shopping Spree on Company’s Dime

A look at the best of the worst accountant malfeasance around the globe over the past month or so. CA throttles wife to death, tries to pass it off as suicide, arrested [Times of India] Here is a disturbing story out of India: Jaiveer Singh, a 52-year-old chartered accountant, was arrested on May 1 for allegedly […]

Dorky Accountant Robbed His Employer to Buy Hookers and Blow Because Some Dude at the Office Made Fun of Him

Y’all ready to meet a real bad ass? You sure? I’m not sure you can take this. Darren Carvill, 38, is headed to jail after a “weekend of madness” which included hookers and blow funded by approximately £170,000 ($220,000 USD) he stole from his employer, a car servicing company. The Sun reports: A source revealed: […]

Wisconsin CPA Who Fatally Struck Illinois State Trooper with His Car Pleads Not Guilty to Reckless Homicide

Scott Larsen appeared in a Skokie, Ill. courtroom on March 11, where the Wisconsin accountant pleaded not guilty to felony reckless homicide charges in the January death of Illinois State Trooper Christopher Lambert. According to a Chicago Tribune report, Larsen, 61, also pleaded not guilty to violating Scott’s Law, which increases potential penalties for motorists […]

Zaza Pachulia’s Ex-Accountant Is Going to Jail But Not Until After April 30 Because Busy Season

You know it’s tax season when an accountant who was sentenced to 30 months in federal prison for identity theft is just too busy to go to jail right now. Such is the case for Randy Usow of Mequon, Wis., who agreed to plead guilty to one count of theft of government property and one […]

Hopefully, Wisconsin CPA Scott Larsen Will Never Get Behind the Wheel of a Car Ever Again

Wisconsin accountant Scott Larsen appeared in a courtroom in Skokie, Ill. on Jan. 29, where a judge set his bond at $250,000 on charges of felony reckless homicide and prohibited him from driving if he posted bond. This is a good thing for everyone because Larsen fatally struck an Illinois State Police trooper with his […]

Wisconsin Accountant Charged with Reckless Homicide in the Death of Illinois State Trooper

If you live in the Chicago area like I do, you’ve by now heard or read about the death of Illinois State Trooper Christopher Lambert, who was struck by a vehicle on an Illinois tollway on Jan. 12 after he got out of his patrol car to assist drivers involved in an accident. Well, we […]

James Arthur

Crappy Gambler Who Also Happened to Be an Accountant Jailed for Stealing From X Factor Winner

Not to show my ignint ‘Murican here but I have to admit I don’t know dick about X Factor. I think those one dudes were on there, you know, the ones who looked like skinny, middle-aged lesbians led by a bootleg Mick Jagger. To be fair, I can’t name an American Idol contestant since the […]

Scott Vetere

(UPDATE) Married Ex-KPMG Recruiter and Gym Coach Busted For Banging Young Gymnast in a Car

Whew, you guys, this one is … awkward. Scott Vetere is a 39-year-old father of three from Michigan who serves as assistant coach for the University of Michigan women’s gymnastics team, or at least he did until he resigned Oct. 15. His resignation came after Vetere was caught getting it on with an 18-year-old female […]

WTF? CPA Accused of Stealing Over $93,000 from Girl Scouts, Cancer Center

Through the years, Going Concern has chronicled accountants and finance chiefs getting caught doing really shitty things. But if this accountant is found guilty of the charges levied against her, this has to rank among the shittiest of the shitty. From the Los Angeles Daily News: A certified public accountant charged with embezzling more than […]

#WednesdayWisdom: Money Laundering Is Not a Specialization CPAs Should Pursue

Laundering your blue Oxford dress shirts, blouses, gray trousers, and fleece vests, good. Laundering money, bad. From the Times of San Diego: A San Diego-based certified public accountant was sentenced Tuesday to 21 months in federal prison for his role in an international drug trafficking, gambling and money laundering organization led by former University of […]

NBA Player Zaza Pachulia’s Former Accountant Pleads Guilty to Identity Theft, Probably Never Will Have Basketball Clients Again

In dubious accountant news, Randy Usow of Mequon, Wis., has agreed to plead guilty to one count of theft of government property and one count of identity theft after stealing more than $800,000 by submitting fraudulent tax returns in the name of NBA player Zaza Pachulia and his wife, the Milwaukee Journal Sentinel reported. Pachulia, […]

Ex-Manafort Accountant Given the Pink Slip After Testifying

We can’t say we’re shocked by this turn of events. From Bloomberg: Paul Manafort’s former accountant was fired from a Virginia firm after she told the court she was aware that Manafort’s tax returns contained false information. Cindy Laporta testified Friday [Aug. 3] in the government’s case against the former Trump campaign chairman, saying she […]

kpmg general electric

Accounting News Roundup: Tax Reform Glitches; KPMG and GE; Sexual Harassment | 03.13.18

G.O.P. Rushed to Pass Tax Overhaul. Now It May Need to Be Altered. [NYT] There are a number of quirks in the new tax law “that disadvantage certain farmers, hurt restaurateurs and retailers and could balloon the tax bills of large multinational corporations,” and that has business owners and executives worked up. Meanwhile, many fixes […]

accounting news pigzilla aicpa lobbying

Accounting News Roundup: AICPA Lobbying; Cisco Repats Some Cash; Stealing from Cub Scouts | 02.15.18

AICPA CEO Melancon sheds light on tax reform lobbying [AT] If you were worried that AICPA President, CEO, and curling enthusiast Barry Melancon didn’t carry water for large accounting firms during the tax reform debate, rest easy: The AICPA was unable to dissuade lawmakers from excluding large accounting firms from the 20 percent pass-through deduction […]

Accounting News Roundup: Delaware LLCs; Bitcoin Gains; Fake IRS Agents | 02.14.18

New Hedge-Fund Tax Dodge Triggers Wild Rush Back Into Delaware [Bloomberg] In the new tax bill, Congress thought it could stick it to private equity and hedge fund managers by requiring them to hold investments for three years in order to have their carried interest income taxed at the capital gains rate. Private equity funds […]

accounting news kpmg wells fargo

Accounting News Roundup: Big 4 Not Obliterating Law Conferences…Yet | 02.12.18

Twilight Of The Law Firms: The Big 4 Are Poised To Conquer The Legal Landscape [ATL] One thing we discuss around here with increasing regularity is Big 4 firms elbowing their way into the legal world unencumbered. Joe Patrice writes a good overview at Above the Law, noting that at a recent legal conference, “the […]

Accounting News Roundup: PwC’s New Envelope Safeguards and Changes to State Tax Rates | 01.23.18

Accounting firm adds 6 new rules to prevent Oscars envelope gaffe [AP] The Academy Award nominations were announced this morning, but PwC’s Tim Ryan had a little reveal of his own, sharing the new rules the firm put in place to avoid a SALY #EnvelopeGate. Naturally, the new rules center around “envelope rituals” that should […]

Accounting News Roundup: A Landing Pad for Retired Accountants Who Want to Keep Working | 01.18.18

One Accounting Firm Wants to Hire Retirees [WSJ] PKF O’Connor Davies has 24 employees who hit mandatory retirement age at other accounting firms, including one, in his 70s, who helped jumpstart their international tax practice. Mandatory retirement age policies at accounting firms, most notably PwC, have gotten the attention of the Equal Employment Opportunity Commission, […]

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Accounting News Roundup: South Africa’s Probe of KPMG Is Moving Along | 01.12.18

Ed. note: ANR will be off on Monday to observe Martin Luther King Jr. Day. South Africa’s Audit Regulator Says Part of KPMG Probe Nearing Completion [Reuters] South Africa’s Independent Regulatory Board for Auditors (IRBA) announced that one part of the investigation into KPMG’s work for the Gupta family is “nearing completion” and the rest […]

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Accounting News Roundup: FDIC’s Win Against PwC Could Be a Bellwether | 01.05.18

FDIC win against PwC could finally force auditors to look for fraud [MarketWatch] Francine McKenna reports that representatives from PwC have given contradictory testimony in separate civil trials in the past year about the firm’s responsibility to design its audits to detect fraud. In the Colonial case where Judge Barbara Jacobs Rothstein ruled that PwC […]

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Reminder, Creepy Accountants: Offering to Teach a Subordinate About Tax Returns Is Not an Opportunity to Get All Handsy

Here’s a story from November (yeah, I know, but it’s January 3rd) about a “68-year-old Manhattan accountant” who “lured his 23-year-old clerk to his home office by saying he wanted to teach her about income-tax returns — then claimed God wanted her to be his sexual plaything.” I don’t have to tell any of you […]

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Accounting News Roundup: Caterpillar’s Fight, Google’s Euros, Failed Flip-Flops | 01.03.18

What New Tax Law? Caterpillar Fights to Protect Its Swiss-Made Profits [WSJ] An exhaustive look at Caterpillar’s battle with the IRS, including a nod to PwC for Best Accounting Firm With Conflicts of Interest in a Supporting Role. Former Treasury Secretary Lew Says Tax Cuts Will Leave the U.S. Broke [Bloomberg] Jack sees where this […]

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Accounting News Roundup: Big Deals, Bribes, and Indifferent Investors | 12.14.17

House, Senate Republicans Reach Deal on Final Tax Bill [WSJ] The text of the bill is still being written, but in short: the top individual rate landed at 37 percent; the corporate tops out at 21 percent; pass-throughs get a 20 percent income deduction. A compromise over the SALT deduction is in the works; rather […]

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Accounting News Roundup: Workers vs. Owners; KPMG Quits Liberty Tax Audit; Fraud and Strippers | 12.11.17

Tax Plans May Give Your Co-Worker a Better Deal Than You [NYT] The tax bill puts wage earners, currently about 80 percent of the working population, at a big disadvantage. “So a decorator, an artist or a plumber would have a higher tax rate than an owner of a decorating business, an art shop or […]

Accounting News Roundup: Blowing Off Clients and Christmas Tree Tax Breaks | 11.29.17

Yes, it’s only Wednesday, but look at the bright side; the end might be closer than we think. ‘I’ve got to run. My big client is on the other phone!’ [AT] Withum partner Ed Mendlowitz shares an anecdote about meeting an accountant who he overheard blowing off a client “because his humongous client needed something […]

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Accounting News Roundup: Antitrust and ‘Large, Round Number, Unsupported’ Journal Entries | 11.21.17

Ed. note: We’re off starting tomorrow, returning Monday. Send tips over the holiday to tips@goingconcern.com and submit your questions, missives, and tryptophan-induced dream journals to Open Items. Happy Thanksgiving! Mergers Yesterday, the Department of Justice sued to block the AT&T-Time Warner merger. Justice believes the combined company would “greatly harm American consumers” while AT&T says […]

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Accounting News Roundup: Insurance Fraud and Tax Reform Gets Harder | 11.16.17

Accountants behaving badly Here’s an interesting diversion in the ABB section from the usual “Accountant Embezzles Funds” story: insurance fraud! An Atlanta-area CPA, Earle Turner Sr., allegedly took out 19 life insurance policies on his clients, naming himself as the beneficiary: Mutual of Omaha notified Georgia officials of suspected fraudulent activity by Turner after finding […]

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Accounting News Roundup: Massages During Tax Season and Big 4 Collusion | 11.10.17

Editor’s note: Accounting News Roundup will be off on Monday, returning Tuesday. Have a great weekend. Employee retention “How to lose staff and alienate employees” is this Accounting Today article based on a speech given by Sandra Wiley and it is nearly perfect. Secretive, cultureless firms with only up-or-out career paths are doomed, and rightly […]

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Accounting News Roundup: “Small Business” and ‘You’re going to get killed in this bill’ | 11.09.17

“Small business” Politicians love to trumpet their support for small business. And it’s no wonder, small businesses are all around us, so groveling to them makes for an easy ploy. The Republican tax plan includes a 25-percent rate for pass-through entities, which many people equate with “small business.” Unfortunately, the vast majority of small businesses […]

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Accounting News Roundup: Audit Committees, Gimmicks, and Bad Hawaiian Accountants | 11.06.17

Audit committees A recent study has found that a 1999 SEC rule requiring companies to disclose certain information about their audit committees hasn’t lived up to expectations: Before adoption of the regulation, there was no mandate on audit-committee size; independence was required of only a committee majority; and no definition of independence was provided, giving […]

Accounting News Roundup: Embezzling and Impersonating; Tax Reform; Phony Revenue | 10.20.17

Accountants behaving badly A reader pointed us to this seemingly common ABB story featuring Krystle Sheals of Marion, Ark.: Sheals, a former bookkeeper with Nichols Fire and Security (NFS) in Memphis, Tennessee, is charged with using her access to her employer’s bank accounts to pay personal bills and expenses, including personal credit card payments, personal […]

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Accounting News Roundup: Hacks, Rio Tinto, and ‘What was owed to him’ | 10.18.17

Hacks Joe Kristan pointed us to this disturbing story in Tax Notes (sub req’d) featuring IRS Commissioner John Koskinen: “Our estimate has been that before that breach, information on over 100 million Americans was already in the hands of criminals,” Koskinen told reporters during a press conference on the IRS security summit preparations for the […]

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Accounting News Roundup: New Bosses, Property Taxes, and Kickbacks | 10.02.17

New bosses KPMG, BDO, and Crowe Horwath have all announced new global chairmen/CEOs recently. This will have almost no effect on your day-to-day professional lives beside the fact that you will be ignoring emails from a slightly different smiley white dude. SALT This Bloomberg BNA post points out that if your city’s newly constructed professional […]

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Accounting News Roundup: Estate Taxes, Accounting Fraud, and Insider Trading | 09.29.17

Estate taxes Perhaps this will sound like a repeat of yesterday, but the Trump Administration’s tax reform plan is more of an illogical tax policy term paper. USC Professor Edward Kleinbard called it a “deficit-busting mess.” PolitifFact said Trump’s claims about ending the estate tax are a “Pants on Fire” level falsehood. This particular proposal […]

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Accounting News Roundup: Accountants Worry About Technology, Change, Et al. | 09.26.17

Accountants are worried about technology, change, et al. If you haven’t immersed yourself in the collective anxiety of the accounting profession lately, I highly recommend this Accounting Today column. There are a plethora of quotes to choose from, but Grant Thornton CEO Mike McGuire has a good one: “Our industry is being disrupted by accelerating […]

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Accounting News Roundup: No Low Tax Rates for You, Accounting Firms | 09.13.17

Critical audit matters A BDO survey of corporate board directors found that 48% of them “do not feel the discussion of CAMs is an improvement to the transparency and usefulness of the auditor’s report for investors.” This shouldn’t be surprising since 1) A lot of board members don’t care much about auditing and 2) Even […]

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Catching Your CPA Stealing From You Redhanded Must Be Oh So Satisfying

If you’re an accountant and you plan to steal from a client or your employer or whomever, one thing is certain: You are confident. Why else would you try to embezzle money unless you were sure you wouldn’t get caught? As noted criminal Sam Antar has said, “It’s a calculated risk. Everybody takes precaution against […]

Accounting News Roundup: Culture Copycats and A Bad Accountant Strikes Again | 07.31.17

Culture copycats At Accounting Today, Dan Hood writes about “Three things that aren’t your firm’s culture,” and those are 1) “We treat our staff like family,” 2) “We work hard and we play hard,” and 3) “We value work-life balance.” I don’t have hard data to back this up, but I’d venture to say that […]

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Florida Accountant Picks Up a Green Thumb in Retirement; Authorities Not Impressed

For those of you hoping to retire one day, do you know how you’ll stay busy once you’re not working? Golf? Traveling? Yes, those sound nice and leisurely. Gardening is another nice hobby, however, be sure you stay current on the marijuana laws in your area, should you decide that’s the kind of greenhouse you […]

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The IMA Figured Some of You Could Use an Ethics Refresher

In Compliance Week, Tammy Whitehouse reports on a revised “Statement of Ethical Professional Practice” from the Institute of Management Accountants. Why was a revision necessary? To keep up with technology, maybe? Perhaps to establish some rules for all the robots? Nope! They had to revise it because a fair number of you are a bunch […]