The ethical reflection assignment required you to watch three videos about Barry Minkow. Which of the following is false with respect to Barry Minkow? Multiple Choice He is currently the CFO of Lennar Homebuilders After his first release from prison he started the Fraud Discovery Institute and worked with the FBI He eventually became an evangelical minister, but went back to prison again after embezzling money He was convicted at age 22 for the ZZZZ Best Fraud

The ethical reflection assignment required you to watch three videos about Barry Minkow. Which of the following is false with respect to Barry Minkow? Multiple Choice He is currently the CFO of Lennar Homebuilders After his first release from prison he started the Fraud Discovery Institute and worked with the FBI He eventually became an evangelical minister, but went back to prison again after embezzling money He was convicted at age 22 for the ZZZZ Best Fraud

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Jones is suspected of carrying out a fraud while working for his employer. Jones has worked for the employer for several years. The fraud is suspected to have begun in 2013 and possibly continued in 2014. As part of the investigation, the following financial information has been collected concerning Jones.In 2012, Jones was able to document he had $800 cash on hand and $1725 in a checking account. He also had a student loan on which he owed $8000.In 2013, Jones paid off his student loan. He also purchased a new car for $22,000. During the same year he purchased a condominium priced at $128,000. He placed $38,000 down and financed the remainder with a non-interest mortgage of $90,000. In addition, Jones had documented expenses of $12,000 for 2013 and according to his W-2 earned $55,000 in net wages. He has a zero balance in his bank account at year-end, no cash on hand, and made no known mortgage payments.During 2014 Jones had no cash on hand but $5,000 in his banking account. He…
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