Awards
“We had over 200 entries this year from across the country – it’s really an incredible achievement to be selected by your peers in the Canadian podcasting community.”
John Leschinski, Chair of Podcamp Toronto
Senior Producer
Producer
LumiQ Podcasts
What Went Wrong? Segregation of Duties
Three Controllers. Zero Segregation of Duties. $80 Million Stolen.
Occupational fraud is one of the most common types of fraud. However, the risk of this fraud can be mitigated by implementing a fairly simple measure: segregation of duties. To emphasize the importance of segregation of duties in preventing occupational fraud, we will be looking at three notorious cases that, combined, amounted to over $80 million embezzled: The Fruitcake Fraud, The Pepsi Bottler Fraud, and The Dixon Fraud.
Defrauding the NHL: The John Spano Story
How NHL’s Lack of Due Diligence Let the New York Islanders Fall to Fraud
When John Spano pledged to save the dying New York Islanders hockey team, he was revered across the nation. But, he ended up playing a record game of fraud and false promises against the NHL. He managed to get so far as to even acquire the team without paying a cent of his own money. How? A fraudulent scheme and a lack of due diligence. As a result of the NHL’s inadequate processes in place, Spano spun a web of lies that led to his acquisition of the team, and his ultimate demise. The moral of the story: due diligence can never be overlooked.