Fraud Case Analysis

Fraud Examination & Forensic Accounting Professor: David L. Cotton Meriann El Haddad disciple Travel Agent Fraud Analysis Christopher Ryan Thomas, who ran a travel business, was sentenced for take students resound break bullion. In September 2006, Thomas was selected as a travel agent by the senior stratum at Hampton University who were homework a spring break agitate to the sunset Beach Resort and Spa in Jamaica. From November 2006 with April 2007, Thomas collected some $200,000 from approximately 200 Hampton University students, which he deposited into his business account. From November 2006 through April 2007 Thomas worn-out(a) turn on funds collected from students on personalised expenses totaling thousands of dollars. Thomas did not allow these purchases to the trip participants. In addition, in early 2007, Thomas was planning to hold a plan at Hampton University. He spent a substantial portion of the trip funds to take up the Convocation Center and to pay all other concert expenses, including expenses for entertainment, lodging, travel, and promotion. The concert related expenses totaled approximately $67,000. He didnt get any authorization from any of the paying students for these disbursements.

The spring concert was unsuccessful and resulted in the loss of substantial funds, with no profit returning to Thomas. Thomas was in short of currency and couldnt make a full payment to the Sunset Beach Resort and Spa. The fraud was discovered by the trip students when they checked into the Sunset Beach Resort and Spa and lettered that Thomas had not paid their lodging expenses, resulting in a balance due to the Sunset Resort and Spa of approximately $90,825. a) Type of fraud: Asset misappropriation cash c) Fraud Triangle I) motivating: We believe that one of Thomas motives for committing this fraud was greed. He spent part of collected trip fee on personal purchases. The second motivation might be financial pressure. It is... If you indispensability to get a full essay, order it on our website: Ordercustompaper.com

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