Current Events > Wow, just stumbled across MAJOR fraud at my new job.

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Romulox28
07/30/18 1:19:29 PM
#1:


Today is the start of my second week at my new job (jr staff accountant for a midsized company).

My first week was mostly onboarding, training, etc so I didnt get a chance to dig into the systems side until today.

This morning I came into the office and started playing around in the system and familiarizing myself. It didnt take long before I noticed something was very wrong.

I began looking at the day to day transactions, the individual journal entries, and noticed something very strange - the transactions were listed twice.

I thought this must be an error, a one off thing, but sure enough when I checked every journal entry I found the same thing. If the company purchased something, theyd credit one account, but then at the same they would debit another in that same transaction. This went on for millions upon millions of dollars worth of transactions.

I immediately freaked out when i saw this, obviously. I got up from my desk, went over to my boss, and told him I had to go home ASAP because I was feeling very sick. When I got to the parking lot, I called the companys anonymous misconduct line and reported what I had found.

Now Im home and I dont know wtf to do. Im debating writing an email to the CFO but Im not sure how complicit he is. Obviously Im going to quit tomorrow (dont want to get wrapped up in this and have my career ruined).

Anyone ever been in a similar situation?
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pikachupwnage
07/30/18 1:20:07 PM
#2:


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SK8T3R215
07/30/18 1:20:53 PM
#3:


Yes I have done that fraud for my work.
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DK9292
07/30/18 1:21:30 PM
#4:


Romulox28 posted...
I began looking at the day to day transactions, the individual journal entries, and noticed something very strange - the transactions were listed twice.

I thought this must be an error, a one off thing, but sure enough when I checked every journal entry I found the same thing. If the company purchased something, theyd credit one account, but then at the same they would debit another in that same transaction. This went on for millions upon millions of dollars worth of transactions.

Please correct me if I'm wrong, but doesn't that mean the company is PAYING twice as much money?
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Muffinz0rz
07/30/18 1:21:52 PM
#5:


Romulox28 posted...
Anyone ever been in a similar situation?

Yeah

Today is the start of my second week at my new job (jr staff accountant for a midsized company).

My first week was mostly onboarding, training, etc so I didnt get a chance to dig into the systems side until today.

This morning I came into the office and started playing around in the system and familiarizing myself. It didnt take long before I noticed something was very wrong.

I began looking at the day to day transactions, the individual journal entries, and noticed something very strange - the transactions were listed twice.

I thought this must be an error, a one off thing, but sure enough when I checked every journal entry I found the same thing. If the company purchased something, theyd credit one account, but then at the same they would debit another in that same transaction. This went on for millions upon millions of dollars worth of transactions.

I immediately freaked out when i saw this, obviously. I got up from my desk, went over to my boss, and told him I had to go home ASAP because I was feeling very sick. When I got to the parking lot, I called the companys anonymous misconduct line and reported what I had found.

Now Im home and I dont know wtf to do. Im debating writing an email to the CFO but Im not sure how complicit he is. Obviously Im going to quit tomorrow (dont want to get wrapped up in this and have my career ruined).
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#6
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PoopPotato
07/30/18 1:23:00 PM
#7:


Accountants do it double entry
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TommyG663513
07/30/18 1:23:38 PM
#8:


Idk how this stuff works. So did you have absolute proof? How serious is this stuff?
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TommyG663513
07/30/18 1:24:32 PM
#9:


Is this whole topic a copypasta?
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SK8T3R215
07/30/18 1:25:01 PM
#10:


Hope you get a good whistle-blower payout
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Ushiromiya
07/30/18 1:25:19 PM
#11:


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Doe
07/30/18 1:25:53 PM
#12:


ITT people who didn't take West in the World and didn't learn about innovations in double entry bookkeeping in Florence
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eston
07/30/18 1:27:07 PM
#13:


Doe posted...
ITT people who didn't take West in the World and didn't learn about innovations in double entry bookkeeping in Florence

So you're saying TC is going to prison then
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Romulox28
07/30/18 1:27:46 PM
#14:


SK8T3R215 posted...
Yes I have done that fraud for my work.

Wow, and youre not afraid of legal repercussions? How would you explain this during an audit?

DuranOfForcena posted...
omg tc, you're onto something huge here

blow that whistle

I plan to, Im just scared of what the company might do to me. Ive heard of whistleblowers being blacklisted from entire industries before.
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PiOverlord
07/30/18 1:29:50 PM
#15:


OMG tc, I am actually studying accounting and they are starting to teach us this corruption.

Colleges are creating criminals by the thousands!
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bob742omb
07/30/18 1:29:57 PM
#16:


i can tell you as someone who is involved in accounting that this is not normal and it's good that you called the misconduct line. if nothing happens you can always tell the media
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#17
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BlueJester007
07/30/18 1:30:38 PM
#18:


Romulox28 posted...
theyd credit one account, but then at the same they would debit another in that same transaction.


I only took a few Accountant courses way back in my college days, so I may be incorrect here, but isnt that what you are supposed to do with journal entries?

Its your debits and credits:
Lets say you buy a lot of land for $100k in cash.
Okay, so you credit your cash 100k, but you also debit your land 100k.
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SK8T3R215
07/30/18 1:32:52 PM
#19:


Romulox28 posted...
Wow, and youre not afraid of legal repercussions? How would you explain this during an audit?


Come I late, leave early, long lunches, take vacation during it.

Just make yourself unavailable.
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#20
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ChainedRedone
07/30/18 1:36:30 PM
#21:


Wow people taking this topic as a joke.

This is why Trump won.
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UnholyMudcrab
07/30/18 1:37:45 PM
#22:


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mario2000
07/30/18 1:38:13 PM
#23:


i'm gay
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Romulox28
07/30/18 1:38:44 PM
#24:


BlueJester007 posted...
Romulox28 posted...
theyd credit one account, but then at the same they would debit another in that same transaction.


I only took a few Accountant courses way back in my college days, so I may be incorrect here, but isnt that what you are supposed to do with journal entries?

Its your debits and credits:
Lets say you buy a lot of land for $100k in cash.
Okay, so you credit your cash 100k, but you also debit your land 100k.

That doesnt sound right

ChainedRedone posted...
Wow people taking this topic as a joke.

This is why Trump won.

Yeah honestly its bothering me, I like to joke as much as the next guy but now Im really in a bad situation and could use help, not ridicule

mario2000 posted...
i'm gay

check your PMs
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Vamp_Aubrey
07/30/18 1:40:07 PM
#25:


i can tell you as someone who is involved in accounting that this is not normal and it's good that you called the misconduct line. if nothing happens you can always tell the media
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BlueJester007
07/30/18 1:40:54 PM
#26:



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ChainedRedone
07/30/18 1:42:35 PM
#27:


Holy shit CE thinks everything is a fucking joke. This is literally why Trump won.
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Dondre_X
07/30/18 1:43:01 PM
#28:


lol. Someone obviously lied on their resume to get that joob
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Romulox28
07/30/18 1:44:06 PM
#29:


Vamp_Aubrey posted...
i can tell you as someone who is involved in accounting that this is not normal and it's good that you called the misconduct line. if nothing happens you can always tell the media

thanks for the encouragement, it's really hard to do the right thing and im just hoping that my career isnt damaged by it
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TommyG663513
07/30/18 1:47:40 PM
#30:


I don't understand accounting. How can I understand if this is a joke or not?
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just tell them all your base doesn't belong to us because we were getting stoned...they'll understand-Ken156
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Doe
07/30/18 1:48:24 PM
#31:


TommyG663513 posted...
I don't understand accounting. How can I understand if this is a joke or not?

https://en.wikipedia.org/wiki/Double-entry_bookkeeping_system
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Tappor
07/30/18 1:49:00 PM
#32:


This topic made my head spin
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KLouD_KoNNeCteD
07/30/18 1:49:18 PM
#33:


this happened
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Turbam
07/30/18 1:49:32 PM
#34:


Jokes on you Romulox28.
I'm the grandson of the CEO of the company that you're trying to fuck with.
The only jobs you'll be able to get will be janitorial after I inform grandpapppy
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LordMarshal
07/30/18 1:50:15 PM
#35:


mario2000 posted...
i'm gay


Me too! High five!
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Fam_Fam
07/30/18 1:50:59 PM
#36:


lol so either its fraud, this is a joke topic, or the TC is a complete moron.
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ThyCorndog
07/30/18 1:51:21 PM
#37:


Tell me about it

Today is the start of my second week at my new job (jr staff accountant for a midsized company).

My first week was mostly onboarding, training, etc so I didnt get a chance to dig into the systems side until today.

This morning I came into the office and started playing around in the system and familiarizing myself. It didnt take long before I noticed something was very wrong.

I began looking at the day to day transactions, the individual journal entries, and noticed something very strange - the transactions were listed twice.

I thought this must be an error, a one off thing, but sure enough when I checked every journal entry I found the same thing. If the company purchased something, theyd credit one account, but then at the same they would debit another in that same transaction. This went on for millions upon millions of dollars worth of transactions.

I immediately freaked out when i saw this, obviously. I got up from my desk, went over to my boss, and told him I had to go home ASAP because I was feeling very sick. When I got to the parking lot, I called the companys anonymous misconduct line and reported what I had found.

Now Im home and I dont know wtf to do. Im debating writing an email to the CFO but Im not sure how complicit he is. Obviously Im going to quit tomorrow (dont want to get wrapped up in this and have my career ruined).
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Twin3Turbo
07/30/18 1:51:54 PM
#38:


Holy crap TC.

I've noticed that same fraudulent activity occurring almost daily at my current employer. It always struck me as odd but I just decided not to say anything about it because literally everyone was compliant. I just figured they knew what they were doing and I didn't want to potentially start something without being sure that this activity was wrong. I'm glad you've brought to my attention how fraudulent this is and I will be sure to start taking steps to inform the proper authorities.
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Cj_WlLL_VVlN
07/30/18 1:53:05 PM
#39:


BlueJester007 posted...
Romulox28 posted...
theyd credit one account, but then at the same they would debit another in that same transaction.


I only took a few Accountant courses way back in my college days, so I may be incorrect here, but isnt that what you are supposed to do with journal entries?

Its your debits and credits:
Lets say you buy a lot of land for $100k in cash.
Okay, so you credit your cash 100k, but you also debit your land 100k.


This is correct and the joke I thought he was making but it sounds like there might be a deeper joke just based on other people's reactions. Idk.
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Romulox28
07/30/18 1:54:32 PM
#40:


Twin3Turbo posted...
Holy crap TC.

I've noticed that same fraudulent activity occurring almost daily at my current employer. It always struck me as odd but I just decided not to say anything about it because literally everyone was compliant. I just figured they knew what they were doing and I didn't want to potentially start something without being sure that this activity was wrong. I'm glad you've brought to my attention how fraudulent this is and I will be sure to start taking steps to inform the proper authorities.

im honestly scared to see how deep this corruption goes
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#41
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DiScOrD tHe LuNaTiC
07/30/18 1:57:10 PM
#42:


This reminds me of Weekend at Bernie's.
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SwordMaster13X
07/30/18 2:07:12 PM
#43:


i can tell you as someone who is involved in accounting that this is not normal and it's good that you called the misconduct line. if nothing happens you can always tell the media

Please be a hero
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XxKrazyChaosxX
07/30/18 2:12:04 PM
#44:


Let me get this straight. You think that your client, one of the wealthiest, most powerful men in the world, is secretly a vigilante who spends his nights beating criminals to a pulp with his bare hands...and your plan is to blackmail this person? Good luck.
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Alpha218
07/30/18 2:14:06 PM
#45:


i can tell you as someone who is involved in accounting that this is not normal and it's good that you called the misconduct line. if nothing happens you can always tell the media
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Giant_Aspirin
07/30/18 2:17:52 PM
#46:


i honestly cannot tell if this is serious or not e_e
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Polycosm
07/30/18 2:19:20 PM
#47:


https://www.youtube.com/watch?v=Hhy7JUinlu0" data-time="

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WaterLink
07/30/18 2:20:04 PM
#48:


Go see Carol in HR
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TommyG663513
07/30/18 2:20:23 PM
#49:


Can the joke just die?
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just tell them all your base doesn't belong to us because we were getting stoned...they'll understand-Ken156
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Orthopox12
07/30/18 2:25:47 PM
#50:


Is this what its like to go to school in a different country and not speak the language?
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