McGrew A Silent Crime

McGrew A Silent Crime - McGrew | 1 Trish McGrew...

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M c G r e w | 1 Trish McGrew BSFR341-E2WW Fraud Examination Beth Hewitt, Instructor September 1, 2009 A Silent Crime In this case, the silent crime was credit card refund scheme. Russ Rooker had detected a large loss at the Greene’s store and investigated to find out why. The store records showed that the store’s shoe department was losing money because it had an exceedingly high rate of return. (Wells, 2008 p.200). The expected loss at the store was well over $150,000. During Rooker five year tenure, he should have detected the credit card refund scheme earlier. All the signs were there. The first sign that something was going on was the fact that there were so many refunds. When a refund was given to a customer the merchandise then returns to inventory. If a business had performed inventory checks periodically, they would have seen that the merchandise was not in stock. The next clue to indicate something fishy was the employee that was only working fifteen hours a week. This employee was dressed very nice, ate at expensive restaurants, and had other expensive items. An employee who only works fifteen hours a week cannot afford that kind of lifestyle. That is unless this person has a side job. In
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This note was uploaded on 03/11/2011 for the course ACCT. 341 taught by Professor Prof.hewitt during the Spring '10 term at Franklin.

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McGrew A Silent Crime - McGrew | 1 Trish McGrew...

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