Page 12 - ACFE Fraud Reports 2009_2020

• Case Study #1932:
Six executives of a family-owned electronics company pocketed more than $100 million
by selling overvalued company stock. The company's earnings and profits had been
significantly overstated through false financial statements prepared by the family

members.
Median Loss by Position:

Median losses caused by non-managerial employees were $60,000; by managers, $250,000; and
by owner/executives, $1 million. The loss differences are attributable primarily to the amount of
financial control exercised in each position; those in the highest positions have the greatest
access to company funds and assets.