If you believe that procurement fraud could not happen to your business, I can assure you it can. In every fraud case we’ve written about for 12 years somebody in the defrauded organization was thinking the same thing.
Keadle Lumber lost millions in their timber fraud case. Were there any warnings or red flags that could have alerted Mr. Keadle to cracks in his procurement system? How did long-term employees get away with this fraud?
As most of you know, our industry went from the big vertically integrated companies where timberland was a closely held asset for the paper and saw mills, to a world where the timberland has now been acquired by timber investment firms. That occurred in large extent in the early 2000’s, although you could draw the … Continue reading Oct 2018 News — Con Men
Greetings! This month I ran across several articles about cases that are in the court system for thefts in the timber industry. It reminded me that there always seems to be a debate about whether companies should even prosecute. So often the effort doesn’t seem to be worth the trouble and, in many cases, the … Continue reading So Many Cases, So Little time