Business, 12.03.2021 15:40 ThatTrashPanda

Three people work at a Real Estate Title Firm, called Benchmark, the firm closes deals on new houses. They get checks as down payments/escrow from the buyers of the homes. They get checks from the banks as reimbursement items on the HUD statement. All three can write and sign checks and its not uncommon for them to have each other write the checks out for each other, so they can close out deals. They all also make deposits of the weekly receipts. Benchmark, the owner is not involved. Your suspects: Bookkeeper for Benchmark/ Has access to all records
Two kids in College-FAU
Can sign checks/ make deposits/ make ledger entries
Goes out on the weekend/ quiet/ keeps to herself

Cassandra:
49 YOA/ 3 years with the Company/ Make $88,000 annually
Real Estate Agent/ Closer-Closes deals on new purchases
Married-two children in High School
Purchased her home 15 years ago
Drives a 2012 Mercedes
Can sign and write checks/ has access to all records
Cannot make ledger entries
Goes out three times a week and every weekend

Joe:
49 YOA/ 3 years with the Company/ Makes $88,000 annually
Real Estate Agent/Closer-Closes deals on new purchases
Single/ Enjoys the night life/ goes out whenever he wants
Drives a 2013 Corvette
Purchased his home 15 years ago
Can sign and write checks. Has access to all records
Cannot make ledger entries

Funds are missing in excess of $100,000. You, as the Certified Fraud Examiner/CPA, have to figure out:

a. Who took the funds?
b. What records you need?
c. How you will explain the crime?
d. How they did it?

Answers: 2

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Three people work at a Real Estate Title Firm, called Benchmark, the firm closes deals on new houses...

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