After Tax Reform, Here’s What the Nonprofit Sector is Watching

By Courtney Rozen Initial estimates aren’t promising: The American Enterprise Institute projected June 18 that the law would reduce charitable giving by $17.2 billion this year, according to a static analysis. But in the six months since Republicans passed the 2017 tax act (Pub. L. No. 115-97), much of the impact is yet to be [...]

Church Embezzlement Orange County

Interim Treasurer Fiatala Manu of the First Samoan Christian Congregational Church in Santa Ana has recently been charged with the embezzlement of upwards of $110,000. It is alleged that Manu wrote checks to himself from church bank accounts to feed a gambling addiction. He was called on the carpet about it when an Assistant Treasurer [...]

Another Catholic Priest Gambling with Parish Funds

At least this time is was in Las Vegas. Over 10 years apparently he pocketed $650k. Again ... no one ran into this guy in the casino? I'm just saying ... Some parishioners believed that he had a Robin Hood-type reason to steal. Remember, they're called con men because THEY GAIN YOUR CONFIDENCE AND THEY [...]

By |2012-01-17T00:32:00-08:00January 17th, 2012|Elizabeth Ann Seton, financial fraud, forensic accountant, Forensic Accounting, fraud, Gambling, James C. Mahan, non-profit, non-profit fraud, nonprofit, religious organizations|Comments Off on Another Catholic Priest Gambling with Parish Funds

City of Compton Fraud … You’re Kidding!

Now the Mayor of Compton alleges fraud. Who knew? It stopped the City from getting a line of credit to handle the $41mm deficit. Good luck getting an opinion from the auditors. Apparently the last audit had a "going concern clause". Here's hoping the auditor gives an opinion (rather than disclaiming). Oh ... what a [...]

By |2012-01-16T23:52:00-08:00January 16th, 2012|auditors, city of Compton, crappy accounting, Embezzlement, fraud, non-profit fraud, nonprofit, whistle blower|Comments Off on City of Compton Fraud … You’re Kidding!

First 5 LA gets blasted for crappy accounting

Can I say "crappy"? Yes, I believe I can. And did. Apparently, First 5 Los Angeles has accumulated $800 million of taxpayer money that they're sitting on. They apparently spend $180 million per year but can't quite spend the whole amount they get ... so it sits in the bank. THAT'S OUR MONEY PEOPLE! "An [...]

Big Trouble in Cedar City

Companies and Non-Profits ... please check your auditor's license. If it is not current or is suspended, there most likely is a reason. Always log on to your state board of accountancy website and license check before giving them work. Auditors ... please do the same with the prior auditors ... and do a google [...]

By |2011-03-25T12:45:00-07:00March 25th, 2011|due diligence, financial fraud, fraud, non-profit fraud, nonprofit, sec|Comments Off on Big Trouble in Cedar City

Den of Thieves

In case you didn't hear. The management team of the City of Bell California gave themselves absurd salaries. The City Manager about $800k The assistant manager and police chief about $500k each. The city only has about 40,000 residents and a significant percentage are below the poverty level. The city receives a significant amount of [...]

By |2010-07-23T16:56:00-07:00July 23rd, 2010|City of Bell, financial fraud, fraud, get rich schemes, non-profit, non-profit fraud, nonprofit|Comments Off on Den of Thieves
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