Updates to report that individuals were terminated appear throughout. Welp, this looks bad. The Wall Street Journal reports that six KPMG employees, including four partners and the firm’s head of audit, have been fired after a PCAOB employee leaked confidential inspection details to the firm. The departing KPMG employees include four partners and Scott Marcello, […]
Today in consequences of career limiting moves, a former EY auditor settled charges with the SEC that he traded on insider information about a merger of a client that he was staffed on. Now, I know you’re thinking, “Wow, that was dumb.” And yes, that was incredibly bad decision on the part of Nima Hedayati, […]
Here's a weird one: A New Jersey man has been charged with threatening now-former President Obama's life on Facebook. A report in the Philadelphia Inquirer has the details: Federal prosecutors say William Peterman Jr., 33, of Medford Lakes and Beaufort, S.C., posted two death threats on his Facebook page last week, including one addressed to […]
As an accounting professional you have come across people who have attempted to bend the rules or do something illegal. There are penalties. Why do people do it? Smartest person in the room: They feel the pool of potential rule breakers is so huge, the chances of getting caught are minimal. This makes taking the […]
This is from last week, but it's still worthy of a mention since we don't get the deluge of long-winded, self-absorbed farewell emails like we used to. The Daily Mail reports that Oliver Alcock didn't take to life as a professional at PwC too well. He found the work boring and was relieved when he […]
Ed. note: Warning, there's some offensive language contained in this post.
Today in potential career limiting moves, we have a prospective PwC intern being accused of creating a bunch of “sock puppet” Twitter accounts to hurl bigoted tweets at high school football recruits.
The US Supreme Court has agreed to review an insider trading case involving a man who used his brother-in-law's position as a banker at Citigroup to make more than $1.7 million. The Court's decision could redefine insider trading and could possibly make it more difficult for the SEC to prosecute insider traders who pass information […]
A judge in London sentenced a former EY employee to four years in prison for filming more than 3,500 people "in bedrooms and bathrooms in his own home, shower rooms and lavatories at his work place and bathrooms in a large number of coffee shops in central London." George Thomas started his little hobby in […]
Here's one those fraud cases I just can't get my head around. Sean Weaver, 33, a former principal with Ryan, LLC pleaded guilty today to a $20 million tax scheme. He ran the whole thing by himself out of the firm's transaction tax practice group. The FBI press release states that he was in charge […]
If you were a CPA who testified in the trial of two NYPD officers dubbed the "Mafia Cops," no one would doubt you if you said, "I could never ever, I will never ever, be a CPA again." After he was busted for stealing more than $5 million from his clients, New York accountant Stephen […]