Tag Archives: fraud

CFO Penalized for Software Company’s Timesheet Falsification Fraud

Financial statement fraud schemes commonly take the form of overstated revenue. That was indeed the case in a recent SEC investigation into the falsification of time records by certain professional services employees of Saba Software, a provider of cloud-based intelligent talent management solutions that had its IPO in 2000.[1] According to the SEC, “[t]he improper time-reporting […]

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Guilty Pleas Received from Remaining Defendants in U.S. Navy Sealift Command Bribery Case

Last week, guilty pleas were received by the U.S. Department of Justice from the final two defendants in a case arising from a bribery and conspiracy scheme involving the U.S. Navy Military Sealift Command.  As described in two Department of Justice press releases (http://www.justice.gov/opa/pr/2014/August/14-crm-848.html and http://www.justice.gov/opa/pr/2014/August/14-crm-857.html), the five-year scheme involved payments by two government contracting […]

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Government Services Firm Executive Pleads Guilty to Fraud

A former executive of a Fairfax County defense contractor recently plead guilty to employment tax fraud and theft from an employee benefit plan. As described in a Department of Justice press release (http://www.justice.gov/opa/pr/2014/June/14-tax-620.html), the executive failed to remit over $1 million withheld from employee paychecks for employment taxes and retirement plan contributions. According to the […]

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Boeing Hacked — U.S. Military Data Stolen

The Justice Department reported on Friday July 11 that a Chinese businessman in Canada hacked into Boeing’s computer system and stole information about U.S. military aircraft and weapons dating back to 2010.  The information was sold to companies in China after the man obtained it by someone at Boeing clicking a link which allowed him […]

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Cybersecurity: How to Tell if You’ve Had an IT Security Breach

IT security breaches — we’re hearing about them more and more every day in the news.  Companies are starting to realize that they are vulnerable to breaches and taking the threat seriously, but how can you tell if your company has had a breach? Your system admin should be reviewing the following items:

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