Scheme

Michael McLaughlin

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.

  1. 07/31/2023

    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.

    28 min

  2. 05/31/2023

    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.

    11 min

  3. 04/30/2023

    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.

    12 min

  4. 03/31/2023

    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.

    8 min

  5. 02/28/2023

    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?

    13 min

  6. 01/31/2023

    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.

    7 min

  7. 01/01/2023

    Episode 11: DHB Industries

    David Brooks had taken a small company on the verge of bankruptcy and turned it into one of the world’s largest manufacturers of bulletproof vests. Those vests were used by U.S. soldiers, so Brooks was hailed as an American hero. But, problems with the company’s accounting for inventory was just the tip of the iceberg.

    27 min

  8. 03/29/2021

    Episode 10: Take-Two Interactive Software

    Take-Two Interactive was forced to restate its financials 3 times in a span of just 5 years. Each time you thought it was over, Take-Two ended up in the news again. And the company’s founder was right in the middle of it.

    10 min
See All (17)

5
out of 5
36 Ratings

About

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.

Information

  • Creator
    Michael McLaughlin
  • Years Active
    2020 - 2023
  • Episodes
    17
  • Rating
    Clean
  • Copyright
    © Michael McLaughlin & Edspira
  • Show Website
    Scheme