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Oversight of cash expensing is a basic financial control. Nobody, even the CEO, should be approving their own expensing with no oversight. An assistant pretend

Oversight of cash expensing is a basic financial control. Nobody, even the CEO, should be approving their own expensing with no oversight. An assistant pretending to be their own boss, so they can approve their own expenses, is fraud and a clear fireable offense.

randycupertino 5y ago
> Oversight of cash expensing is a basic financial control. Well, yes. Clearly. However, point being, that time and time again, for a Personal Assistant who does home/personal life related tasks (not an EA who is work-related duties), the oversight frequently gets overlooked. Lines get blurred and oversight is lacking. Hence by PAs are often prone to fraud. The CEO of Goldman Sachs had his PA steal over $1.5 million from him before anyone noticed. The Gearbox CEO also has his PA steal $3 million. There are tons of stories like this. https://www.polygon.com/2018/9/30/17920030/randy-pitchford-dallas-grifter-missing-charges https://www.polygon.com/2018/9/30/17920030/randy-pitchford-d... https://i1sglobal.com/2021/03/personal-assistant-stole-more-than-1m-from-ex-wife-of-nba-star-jason-kidd/ https://i1sglobal.com/2021/03/personal-assistant-stole-more-... https://nypost.com/2018/10/13/how-a-charming-imposter-stole-1-3m-in-rare-wine-from-the-ceo-of-goldman-sachs/ https://nypost.com/2018/10/13/how-a-charming-imposter-stole-... https://www.huffpost.com/entry/identity-theft-personal-assistant-jewelry-new-york_n_1313695 https://www.huffpost.com/entry/identity-theft-personal-assis... https://www.thejournal.ie/siobhan-maguire-personal-assistant-sentence-stealing-from-employer-3665515-Oct2017/ https://www.thejournal.ie/siobhan-maguire-personal-assistant... https://www.usatoday.com/story/entertainment/celebrities/2021/02/11/kevin-hart-former-personal-shopper-charged-1-million-theft/6731564002/ https://www.usatoday.com/story/entertainment/celebrities/202...

randycupertino 5y ago

> Oversight of cash expensing is a basic financial control. Well, yes. Clearly. However, point being, that time and time again, for a Personal Assistant who does home/personal life related tasks (not an EA who is work-related duties), the oversight frequently gets overlooked. Lines get blurred and oversight is lacking. Hence by PAs are often prone to fraud. The CEO of Goldman Sachs had his PA steal over $1.5 million from him before anyone noticed. The Gearbox CEO also has his PA steal $3 million. There are tons of stories like this. https://www.polygon.com/2018/9/30/17920030/randy-pitchford-dallas-grifter-missing-charges https://www.polygon.com/2018/9/30/17920030/randy-pitchford-d... https://i1sglobal.com/2021/03/personal-assistant-stole-more-than-1m-from-ex-wife-of-nba-star-jason-kidd/ https://i1sglobal.com/2021/03/personal-assistant-stole-more-... https://nypost.com/2018/10/13/how-a-charming-imposter-stole-1-3m-in-rare-wine-from-the-ceo-of-goldman-sachs/ https://nypost.com/2018/10/13/how-a-charming-imposter-stole-... https://www.huffpost.com/entry/identity-theft-personal-assistant-jewelry-new-york_n_1313695 https://www.huffpost.com/entry/identity-theft-personal-assis... https://www.thejournal.ie/siobhan-maguire-personal-assistant-sentence-stealing-from-employer-3665515-Oct2017/ https://www.thejournal.ie/siobhan-maguire-personal-assistant... https://www.usatoday.com/story/entertainment/celebrities/2021/02/11/kevin-hart-former-personal-shopper-charged-1-million-theft/6731564002/ https://www.usatoday.com/story/entertainment/celebrities/202...