An accountant employed by the organizing committee for the Atlanta Summer Olympic Games was charged with embezzling approximately \($60,000.\) The money allegedly was used to purchase a used Mercedes-Benz automobile and to invest in a certificate of deposit.

Police reports indicate that Steve Council wrote about \($60,000\) in Olympic Committee checks and deposited them into a bogus bank account. Council is a Brown University honors graduate who supervisors stated was a very trusted and loyal employee. Police report that Council allegedly created fictitious invoices from International Protection Consulting, as well as Languages Services. Both had contracts with the Olympic Committee. He allegedly deposited \($44,500\) into an account he opened under the name of one of the companies. Police have also discovered substantial additional losses. Council cooperated with police to the extent of telling them of the bogus bank account and the 1990 Mercedes-Benz.

1 How does Council fit the profile of a fraudster? In what ways does Council not fit the profile?

2 What fraud scheme did Council use to perpetrate his fraud?

3 What controls could have prevented Council’s fraud?

4 What controls could have detected Council’s fraud?