Hello I need help ( Accounting Information System) CASE 7-1 The Greater Providence Deposit & Trust Embezzlement I have attach the case 7/1 I need short answer 8 questions at the end of the case.
Hello I need help ( Accounting Information System)
CASE 7-1 The Greater Providence Deposit & Trust
Embezzlement
I have attach the case 7/1
I need short answer 8 questions at the end of the case.
In a word document.
CASE 7-1 The Greater Providence Deposit &TrustEmbezzlementNino Moscardi, president of Greater Providence Deposit &Trust (GPD&T), received an anonymous note in his mailstating that a bank employee was making bogus loans.Moscardi asked the bank’s internal auditors to investigatethe transactions detailed in the note. The investigationled to James Guisti, manager of a North Providencebranch oFce and a trusted 14-year employee who hadonce worked as one of the bank’s internal auditors. Guistiwas charged with embezzling $1.83 million from the bankusing 67 phony loans taken out over a three-year period.Court documents revealed that the bogus loans were 90-day notes requiring no collateral and ranging in amountfrom $10,000 to $63,500. Guisti originated the loans;when each one matured, he would take out a new loan, orrewrite the old one, to pay the principal and interest due.Some loans had been rewritten ±ve or six times.The 67 loans were taken out by Guisti in ±ve names,including his wife’s maiden name, his father’s name, andthe names of two friends. These people denied receivingstolen funds or knowing anything about theembezzlement. The ±fth name was James Vanesse, whopolice said did not exist. The Social Security number onVanesse’s loan application was issued to a female, andthe phone number belonged to a North Providence autodealer.Lucy ²raioli, a customer service representative whocosigned the checks, said Guisti was her supervisor andshe thought nothing was wrong with the checks, though
Looking for a Similar Assignment? Order now and Get 10% Discount! Use Coupon Code "Newclient"
