koss corp

Fraud Files: How Useful Is Sarbanes-Oxley?

Executives often have the mentality that the "bad stuff" doesn't happen at their company. Averages apply to others, and corporate theft or embezzlement happens elsewhere. And Sarbanes-Oxley was supposed to protect investors from fraud.

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.

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.