FierceFinanceFierceFinanceITFierceCompliance IT   FierceCIO

Yeaaaah: Interesting financial fraud attempt

Tools
Tags
Office Space
Lumbergh
fraud attempt
sarbox

The pre-Sarbanes-Oxley movie Office Space is a cult hit in a lot of places. People love quoting it (to this effect: "I wouldn't say I've been missing [work]..."). Chances are there's Bill "yeaaaaah" Lumbergh in your office. Was Michael Largent, who has been charged with stealing more than $50,000 from E-Trade, Charles Schwab and other brokerages, inspired by the film? The AP reports he created more than 55,000 accounts with fake names and waited until each brokerage made a "micro-deposit" of one to two cents to start the account; then, he swept all those pennies to his own account. Apparently something like this also happened in Superman III!  

For more:
- here's the AP article

Comments

Post new comment

The content of this field is kept private and will not be shown publicly.

More information about formatting options

What is 3 + 50?
To combat spam, please solve the math question above.