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Forensic Accounting, Forensic Techniques, and Fraud Detection Copyrighted 2001 D. Larry Crumbley, ... - page 173 / 352

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© D.L. Crumbley

Acted With Criminal Intent

Government used coverup conspiracy to obtain conviction of 5 former Rite Aid executives accused of accounting fraud.

Martha Stewart was charged with and convicted for obstructing investigations into her conduct and securities fraud (not insider trading).

The two Tyco executives (CEO and CFO) used as their defense that they were open about their conduct. “What kind of fraud can you have when you don’t try to conceal it?”

Prosecutors of the Tyco executives argued that they hid the disputed bonuses and loans from two important groups: company directors and shareholders. Also, employees who helped process the disputed items shared in the largesse; thus they had incentives to not ask too many questions.

Mark Maremont, “Kozowski’s Defense Strategy: Big Spending Was No Secret,” WSJ,  February 9, 2004, pp. A-1 and A-23.

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