April 05, 2019
Accountant buys $6-million in Apple iPhones and iPads on company credit cards and nobody notices for five years
All of the Apple electronics — along with other personal goods and services — were charged to her company Amex
TORONTO — On a November afternoon in 2011, Nadia Minetto waited in the parking lot of Yorkdale Shopping Centre, one of the largest malls in the country, to meet a stranger who responded to her ad on Kijiji offering an iPad for sale.
When Gabriel Fung arrived, he swapped cash for her tablet, still in its packaging. It was the start of an extraordinary relationship.
Minetto and Fung would meet in much the same way again and again. The quantity of Minetto’s Apple products grew larger as Fung’s rolls of cash, bound with elastic bands, became thicker.
Over the next two and a half years, Fung bought 5,321 iPads and 4,942 iPhones from Minetto — up to 20 at a time — worth more than $6 million.
What Fung did with them was straightforward: he resold them, some through his electronics store in a mall north of Toronto, but most to companies in Hong Kong or to wholesalers.
How Minetto got them was more awkward to explain.
Minetto was the accounting manager for Wescom Solutions Inc., a Mississauga software company. It had been her job to approve payments on all of the firm’s American Express credit cards used by employees for business expenses, including her own.
One Of The Reasons Why BYOD Is Accelerating:
Unfortunately, this is not the only case that we have heard of in terms of employee theft or the intentional infliction of harm to company property.
It is by the far the worst example though that we have come across.
The article is a rather extreme example of why the BYOD (Bring Your Own Device) and BYOO (Bring Your Own Operator) trend is accelerating globally. Companies no longer wish to be on the hook for this type of fraud risk. Companies have realized that it is just easier to tell their employees to bring their own plans and devices.
The question becomes how to reimburse. Reimbursement is NOT optional least you run the risk of a class action lawsuit (it has happened) by your employees.
The answer to the reimbursement question is mobilityView…Back