1. Do not present a monthly or yearly statement, present a balance for a single date.
2. Ask your banker how much they will charge for a 2 hour loan fully secured.
3. When told the fee will be .01% assuming the account is frozen while the loan is in it you agree to pay $7,000.00 for a 2 hour loan of $70,000,000.00.
4. Ask the bank to issue a bank balance while the loan proceeds are in the bank.
5. Repay the 2 hour loan.
6. Hand out copies to large mouth bass and giggle with no R's.
7. If the bank won't go for the deal, try some other hot money player who will charge 5 times as much.
Thanks for the info.
Now if you could please give us a step by step process on how to have a gender change for Don Monford? Apparently, he is intrigued by this opportunity after he cashes in on his puts.
Assuming an Auditor knows what he is doing, they would also do bank reconciliations and question any large transactions. This should eliminate most bank fraud.
I also will like to know why you don't question the big issues that may be scary. I will not help you dim wits with ideas.
BANK CONFIRMATION FRAUD
from Capital Confirmation Inc. Presentations
"The Parmalat fraud is the largest cash and investment confirmation fraud ever discovered, but it is not the only case of confirmation fraud used to steal cash or falsify financial reports. Here is just a sampling of some of the more significant public and private company confirmation frauds from recent years: Satyam (2008 - 2009), Take Two (2007), Ahold (2005 - 2006), Kmart (2005 - 2006), Refco (2004 - 2006), Parmalat (2003), All First Financial (2002)."
"Parmalat: $5 Billion Bank Confirmation Fraud
•10 year fraud by Executive Management
•Audited every year
•Parmalat acknowledged in a press release dated December 19, 2003, that the assets in its 2002 audited financial statements were overstated by at least €3.95 billion (approximately $4.9 billion)
•Auditors certifiedthe 2002 financial statements based upon a false confirmationthat the company held these assets at Bank of America. The bank account and the assets did not exist and the purported confirmation had been forged" www.nysscpa.org/committees/auditing/cci.ppt
Sample of Recent Confirmation Frauds
Company Years Public or Private Fraudsters
1 Take-Two 2007 Public Management
2 Daisytek International 2006 Public CEO, CFO, Controller, EVP, VP
3 Ahold 2005-2006 Public Executive Management
4 Refco 2004-2006 Public Executive Management
5 Parmalat 2003 - 1993 Public Top Management
6 Barings 2002-2003 Public Management
7 Safescript 2002-2003 Public Management
8 Allfirst Financial 2002, 2001 Currency Trader
9 Healthsouth 2001 - 1996 Public Top Management
10 Quintus 2001, 2000, 1999 Private & Public CEO
11 Three Point Digital 2000 Private Vice President
12 Digital Lava 2000 Public Vice President of Sales
13 Logo Athletic 1999 Private President
14 Converse 1999 Private Vice President
15 Adidas 1999 Private Executive
16 Fila USA 1999 Private President & CEO
17 Just for Feet 1999 Public President, Executive Vice President
18 CF Foods 1999 Private General Partner
19 North Face 1998, 1997 Private CFO & Executives
20 Manhattan Bagel Corporation 1998, 1997, 1996 Public Executive Management
21 Financial Asset Management 1998, 1997, 1996 Private General Partner
22 YBM 1998, 1997, 1996 Public CEO & Executives
23 Hybrid Networks 1997-1996 Private & Public Vice President of Sales
24 American Bank Note Holigraphics 1997 Private CEO & Chairman
25 Physician Computer Network 1997, 1996 Public CEO & Executives
26 Suprema 1996 Private Corporate Officers
27 Happiness Express 1995 Public CEO & Chairman, CFO, VP
28 Bio Clinic 1995, 1994 Public Vice President of Finance, Controller,
Asst. Controller, Manager of
29 Sunrise Medical 1995, 1994 Public Executive Management
30 Northstar Health Services 1995, 1994, 1993 Private & Public CEO & Executives
31 Kurzweil Applied Intelligence 1994, 1993, 1992 Private & Public President & CFO
32 RSI 1991, 1990, 1989, 1988 Private Owner
33 BCCI Bank 1990, 1989, 1988 Public Top Management
34 Refco 1988-1991 Public Investment Advisory and Staff
35 ZZZZ Best Carpet Cleaning 1987, 1986, 1985 Private & Public CEO & CFO
Bank confirmation comes up again ...
Recent CCME Sec filing:
"Prior to its resignation, DTT also had requested that issues encountered during the audit, including issues related to the reliability of the bank confirmation process, be addressed by an independent forensic investigation."
For months we hear the supporters holler...."How do you explain the cash?"
Then when they are shown exactly how to fake a bank balance and a lengthy list of companies that have done exactly that, they are back to insults.
Excellent reference piece Matt.
The effective rebuttal to my posit would be to show me that the statements were for the entire year, they were directly from the bank, and copies were being publicly posted.
None of that is going to happen because fraud requires the large bass to bite at imitations.
Wouldn't it be easier - in this day and age - to "photo shop" a fake bank statement? And since that can be done with any document, shouldn't we mistrust all document? Sadly for you, there is nothing you can really believe in. Hope I didn't take all the fun out of dreaming up ways to fake stuff!!!
1. Write a check from subsidary A to subsidiary B for 30,000,000.
2. Deposit the check and ask for a statement of balance.
3. Write a check from subsidiary B to subsidiary A for $20,000,000.
4. Ask for a statement of balance.
5. Go to the clerk that took the deposits and tell him you made a mistake. You meant $20.00.
6. Void both checks.
7. Make copies of the bank balance statements and distribute them to large mouth bass.
1. Create a check from your US subsidiary.
2. Deposit massive check into your account subject to transfer from the SAFE.
3. Bank records deposit and puts hold on funds.
4. Request balance statement.
5. Notify bank of transfer problem.
6. Bank reverses deposit and removes hold on funds.
7. Make copies of bank balance and distribute to large mouth bass.