embezzlement

Top 10 Financial Scandals of All Time

Massive financial losses are joined by political double-dealings, public spectacles, pyramid schemes, celebrity downfalls, rouge traders and a few Nazis.

Fraud Files: Does a Bad Economy Lead to Fraud?

While we're hearing more about fraud, that doesn't necessarily mean more workers are stealing from their employers or more money managers are swindling investors. The probable reason? Tighter corporate finances are making it more likely that existing frauds will be uncovered.

Koss Corp: Anatomy of an Alleged Fraud

How does the alleged $31 million fraud at Koss Corp., a company with sales of no more than $45 million, go undetected for years? Blame management. It gave the employee charged with misappropriating funds far too much autonomy. And it never told auditors to do more than just the required audit.

Koss Fraud Probe Widens

The news keeps getting worse at embattled stereo-headphone maker Koss Corp. The Milwaukee company now fears that the amount that disappeared from its...

A $20 Million Embezzlement Tale Rocks Koss Corp.

Ponzi schemes were big news in 2009, but one of the most interesting white collar crimes of the year was good, old-fashioned embezzlement: $20 million was siphoned away from Milwaukee-based Koss Corp, and it took a call from a credit card company before anyone noticed.