Scheme is a podcast about accounting fraud. Not run-of-the-mill fraud like passing $200 of bad checks, but large-scale frauds involving millions of dollars that ruined people's lives. Each episode discusses how a fraud was carried out, and what we can learn from it. Scheme is created and produced by Michael McLaughlin, an accounting professor and creator of Edspira.
Episode 17: Waste Management
In the 1990’s, Waste Management was the largest garbage company in the world. But Waste Management had a dirty secret. Its accounting was nastier than its landfills.
Episode 16: Yale Med School
Jamie Petrone was in charge of purchasing computer equipment for Yale's school of business. Petrone was making a fortune, until someone noticed she was buying a lot more electronics than the school needed. What was she doing with all those iPads? The feds decided to follow her and find out.
Episode 15: Rollins, Inc.
The largest pest control company in the world, Rollins Inc., was accused of manipulating reserves to boost profits. When Rollins achieved its earnings target by just one penny not once but twice, the SEC smelled a rat.
Episode 14: Contempo
Finding a good controller isn’t easy. You probably don't want someone who embezzled money from their last two employers. “What?!?” you’re probably thinking. "No one would hire someone as controller if they stole millions of dollars from their previous employers.” That’s what I used to think, until I heard the story of Peter Suk Lee.
Episode 13: Puda Coal
Puda Coal raised over $100 million from U.S. investors. But suddenly there was a problem: did Puda actually own the subsidiary Shanxi Coal? Someone claimed Puda’s board chair had secretly transferred the subsidiary to himself. Had Puda’s subsidiary literally been stolen?
Episode 12: Boom Global Media
One of the most difficult things about starting a business is getting clients. You need to work hard to get customers to say “yes”. But what if you didn’t have to get customers to say “yes”? What if you just sent them a bill? “Don’t be ridiculous,” you’re probably thinking, “companies aren’t going to pay you just because you send them a bill." But hold that thought, as I’ve got a story to tell.
Awesome, just honestly awesome.
Michael is the best person, business owner, teacher and story teller I’ve ever found on the internet. He deserves every accolade he’s ever received.
Micheal’s work has always been of the highest quality and caliber — this podcast is no different. So impressed by his ability to dig through intense data and turn his findings into captivating stories