US Companies Lose 20% of Income to Fraud
According to the American Institute of Certified Public Accountants, American companies lose a staggering 20% of income to fraud.
Planning for Fraud: Using Forensic Accounting to Protect Your Business
On average, more than 20% of corporate profits are lost due to fraud each year.
Ex-Discount Tire Manager Arrested on Fraud
A former manager at a Discount Tire store in Mesa, Ariz., has been arrested for theft and fraud, according to local media.
Two Sentenced to Prison for Stealing $1.5 Million from Goodyear
Two Chinese nationals were sentenced to more than two years in prison for defrauding Goodyear Tire & Rubber Co. out of $1.5 million. Following their release, the pair will be deported. Xin Franco Fan and Rex Xu Yu both pleaded guilty to conspiracy to commit wire fraud and honest services wire fraud, according to the U.S. Attorney’s
Man Defrauds Tire Dealer from Inside Prison
An inmate at an Alabama correctional facility was convicted of defrauding a tire business, STM LLC of Fort Walton Beach, Fla., out of $200,000, local media reports. Using a smuggled in smartphone the inmate would call a tire business and ask who they sell tires to. Once he was able to obtain that information, he
Two Charged with Defrauding Goodyear
Two Chinese nationals have been accused of accepting a kickback payment when purchasing natural rubber for Goodyear Tire & Rubber Co. The two men were arrested by the FBI on Feb. 19, while attending business meetings at the tiremaker’s headquarters in Akron, Ohio. The men will face hearings in federal court on Feb. 25 in
Bridgestone Suing Hackers For Employment Scam
Bridgestone Americas has filed a federal lawsuit against hackers in Texas for allegedly sending fake job offers in Bridgestone’s name to foreigners and telling them to wire $290 for a visa. According to Court House News, Bridgestone is seeking “punitive damages for trademark infringement, false designation of origin, unfair competition, trespass to chattels, conspiracy and