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This happens every once in a while in investment banking, and we were warned about it regularly in HR training. Here's Matt Levine on one of the incidents: ht
by JauntTrooper 2y ago
This happens every once in a while in investment banking, and we were warned about it regularly in HR training.
Here's Matt Levine on one of the incidents: https://www.bloomberg.com/view/articles/2018-09-04/wells-fargo-had-a-fake-dinner-receipt-scandal https://www.bloomberg.com/view/articles/2018-09-04/wells-far...
The logic is if you couldn't trust a banker to not defraud their employer by submitting dishonest meal receipts, how could you trust them with client money and confidential information. I don't disagree.
- naveen99 2y agoIt might also be related to irs audits. even business meals are only 50% tax deductible. Personal items just aren’t. They are income and irs would want its share.