07/10/2026
๐น๐๐๐ข๐ ๐น๐๐๐๐๐ฆ, written by shareholder Kyle P. Saltzman, CPA, CFE, shares real-world cases every other Friday to help organizations recognize risks and strengthen controls.
This week's case highlights how internal collusion can undermine even trusted organizations.
According to federal prosecutors, a former city employee pleaded guilty to helping embezzle and launder $1.5 million in public funds by using four secret bank accounts over a 12-year period. The scheme allegedly involved diverting federal grant money and using stolen funds for political contributions and other personal expenditures.
Fraud often requires more than opportunityโit thrives when oversight is lacking. Could something similar happen at your organization, or do you have the controls in place to detect it?
Read the full case: https://loom.ly/5mqzCbE