A number of information-technology managers stand accused of ripping off their employers, allegedly using "shadow companies" and inflated or bogus invoices—in some cases, stealing tens of millions of dollars or more. The scam? It's called
A number of information-technology managers stand accused of ripping off their employers, allegedly using "shadow companies" and inflated or bogus invoices—in some cases, stealing tens of millions of dollars or more. The scam? It's called procurement fraud, and it's more prevalent than many people realize. Here's how it works.
Story Guide:
Introduction Procurement fraud is common, experts say, and it's often very hard to detect.
Case #1: Buca The Minneapolis-based restaurant chain accuses its former CIO of taking kickbacks.
Case #3: New York City Office of Chief Medical Examiner The former management information systems director at New York City's Office of Chief Medical Examiner is charged with setting up shadow companies to bilk the agency after 9/11.
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