Page 312 - Deception at work all chapters EBook

Other Applications 365

ESCORTS GALORE emerged. It appears that one evening the
main suspect working for the bank called
An investigation was moving along just on the director and warned him that if the
fine, driven by a team of external lawyers investigation continued, some very fruity
and consultants under the control of a photographs and tape recordings of his
director of the bank. He had been very sexual misbehaviour with escorts while
positive throughout and the team was he had been travelling overseas on the
confident it would recover many millions bank’s business might surface. The director
of dollars under fidelity insurance. Then, all was terrified and wanted to comply but
of a sudden, client support disappeared. did not wish to put his neck on the line by
Invoices from the lawyers and consultants terminating the investigation. However, he
were not paid and the credit head’s deputy achieved the same result by not paying the
nit-picked every line of enquiry and its cost. advisers’ bills and by nit-picking, causing
them to withdraw.
Before long the case ran out of steam and
then collapsed. The director blamed the The bottom line was that preservation
consultants for the failure, saying that they of the director’s career cost the bank $20
were ‘too greedy, had lost focus and were million. But the problem has not really gone
going nowhere’. His managers accepted away and if the shareholders were ever to
this excuse, since they didn’t like paying discover the truth, all hell would be let loose.
consultants, either.

A few months later the real reason for
upsetting the lawyers and consultants

Another normal reaction of victims to gross deception is to join together and pool their
resources to share legal costs. Banks do this all of the time and it never produces results. This is
because multiple victims are all chasing after the same assets and in the end, fight over them.
If you are one of a number of victims of the same scam, you must act alone and stay ahead of
the chasing pack. Do this and you might just succeed.

Joining forces with other victims to save recovery costs is a waste of time

CONCLUSIONS

Recovering after you have been victimized is a nasty and costly experience. It is always prefer-
able to avoid getting into bad situations in the first place through effective due diligence and
other procedures and by asking the right questions at the right time.

It is always easier to fall into the crap than to get out of it.
Prevention is far better than cure

Anonymous letters

BACKGROUND

In most frauds there are people on the sidelines who know what is going on but are frightened
to make a direct report. However, they may do so anonymously through letters, emails or
telephone calls. Obviously, some allegations are malicious or improperly motivated by the