Stupid Criminal of the Day

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So you decide it is a good idea to steal $4.8 million from your employer. What do you do with the money? Obviously, you would spend almost one million dollars on "player fees for an online video game." Seriously. That happened.

According to court documents, Co was employed by Holt of California, where he served as the controller and managed the company’s accounting department. During his tenure at Holt, from May 2008 until March 2015, Co embezzled approximately $4.8 million from the company. Co used the money he embezzled to purchase, among other things, luxury cars, home furniture, and NFL football and NBA basketball season tickets. In addition, Co spent approximately $1 million on player fees for an online video game. Co also engaged in a money laundering scheme involving a portion of the embezzled funds, which was designed to conceal the origin of the money he embezzled.
 
Ouch.. while the cars, and other physical goods can be reclaimed to partially get your money back, something tells me a million dollars to online games isn't going to bring any money back to the company.

I do find it funny though that he was charged with embezzling the money, and then there's also another charge of laundering because he tried to hide where the money came from.
 
Most of it credited to other people's social security numbers, or listed as written off company expenses. The money comes into the company then the person running the grift gives bad numbers to the people they are reporting to, be a boss, the shareholders or who ever, and then slowly expenses the money to themselves as fake employees or simply takes part of the money that the company brings and diverts parts of it via money the bank actually has and only reports that the company has so much money to the company.

So you pay the company they are working for ten dollars. The bank tells the company they received ten dollars. The accountant tells the company they five dollars of income and five outstanding. Or they received seven dollars and two of it is lost in over head. Some times they report that they had a bill of five dollars and received five dollars while the client was billed ten dollars and paid ten dollars. So the accountant knows there is ten dollars in the account that came in and the company only knows about part of it. So they simply write a purchase order for the remainder for what ever they want and they clear the purchase order when it comes back from the bank and shred it. Leaving the company with bad books more tax liability than they know about and people working for them who are essentially stealing form the company's income and reputation, from their clients, and the irs... which is usually how they get caught. When they forget to pay the irs and they irs has the records of all the money coming in through the banks... they investigate and find that people payed the company far more money that the company reported as income. To be certified accountant you have to agree not to commingle funds or steal from the people who trust you with money... clearly that guy totally missed the concept on that.

They almost always get caught because they start small and when they don't get caught the numbers start to add up, the damages to the companies reputation as the customers get bills that don't match what they are expecting, and slowly people stop doing biz with them and the irs often starts from better business bureau complaints of weird billing. Because their is a state IRS in every state and a federal IRS which work together. Property that is bought way below it's value triggers audits, property that is sold more than x number of time is short period of time... transfers of twenty five hundred dollars or more, transfers of ownership to another country. Basically when the property is moved in a way where redress is much hard to fix the original crime the transfers get flagged as an issue. One Million dollars make me wonder about second life and the island... not sure what other game could trigger a million dollar expense.
 
$1M on one online video game? I'm dying to know what game that could possibly be...
 
luke51087 said:
ha probably clash of clans or some phone game :/ need to keep up with the farmers in that game
Click to expand...

Some CS:GO skins are expensive, maybe he has all the good ones now?

No, you are probably right, he doesn't play cs, its either clash or pokemon or something of that nature...
 
Just think how much time you would need in a game to spend 1 million on it, and then think about how much you suck at a game to need to spend 1 million on it.
 
I don't remember what site, but I read in an article elsewhere that it was Game of War.
 
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