Bud Gaugh and Curt Kirkwood colluded to commit fraud. Bud worked in accounts payable. He...

90.2K

Verified Solution

Question

Accounting

Bud Gaugh and Curt Kirkwood colluded to commit fraud. Bud worked in accounts payable. He overpaid vendors, then asked the vendors to return the excess payment. Curt, who worked in the mailroom would slip the refunds from the vendors in his lunchbox. At the end of the day, Curt would alter the "pay to" line to read "Curt Kirkwood". He would cash the checks at the local liquor store, and Bud and Curt would split the cash. What type of scheme is this?
image

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students