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Forensic Accounting, Forensic Techniques, and Fraud Detection Copyrighted 2001 D. Larry Crumbley, ... - page 162 / 352

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© D.L. Crumbley

Whistle-Blowing

It almost always turns out badly for the whistle-blower. Often they regret it. They lose their job, have family problems, or they are shunted off to the side. The kiss of death for a career to get a reputation as someone who is not a team player.

Fate of Recent Whistle-Blowers

Forced into bankruptcy

Testified to Congress

Massive acctg. Fraud

Enron

Sherron Watkins

Awaiting results of an audit

Forced to change jobs at Duke

Improper accounting

Duke Energy

Barron Stone

Forced into bankruptcy

Fired, filed lawsuit

Round-trip trades and improper accounting

Global Crossing

Roy Olofson

Forced into bankruptcy

Talking to U.S. Justice Department

Massive accounting fraud

WorldCom

Cynthia Cooper

Subject of congressional and NASD probes

Left firm, filed lawsuit

Improper IPO allotments

Salmon Smith Barney

David Chacon

Company Outcome

Personal Outcome

Allegations

Company

Name

Source: Joseph McCafferty, “Whistle-Blowing, Talk or Walk,” CFO, October 2002, pp. 90-91.

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