Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Angry employee. Martin is in charge of payroll and other expenses for ABC, Incorporated He becomes very angry with his boss Adam because Adam started

Angry employee. Martin is in charge of payroll and other expenses for ABC, Incorporated He becomes very angry with his boss Adam because Adam started dating Martin's girlfriend Stacy. Martin decided to quit but not before he got some extra money from ABC, Incorporated Martin wrote five checks from the account of ABC, Incorporated to pay off the five credit card companies that Martin owed money. The credit card companies took the checks without reason to be suspicious as to the source of payment. The checks to the credit card companies in total amounted to $30,000, and each check was in an amount under $10,000. Martin also made out ten checks on the account of ABC to twenty alleged employees who did not really exist. Each of these checks was in the amount of $5,000. Martin took the checks, endorsed, and cashed the checks in the names of the various fake employees, and kept the cash. Finally, Martin discovers through office gossip that Adam has been looking for another job with xYZ, Incorporated located in a neighboring state and that Adam is supposed to go there for an in person interview in a few weeks. Martin sets up an interview with XYZ, Incorporated pretends to be Adam, and induces xYZ, Incorporated to give him, posing as Adam, a check for $5,000 as a signing bonus. Martin immediately endorses the check pretending to be Adam and pockets the cash. Finally, Martin leaves town heading for the Caribbean. Is XYZ, Incorporated entitled to a refund from it bank for the check the bank paid to Martin posing as Adam?
image text in transcribed

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Fundamentals of Management

Authors: Stephen P. Robbins, David A. DeCenzo

8th Canadian edition

133856747, 978-0133856743, 978-0134283593

More Books

Students also viewed these General Management questions

Question

What key lessons learned can you draw from the case study?

Answered: 1 week ago

Question

why do you not do 100+60 when calculating consumer surplus

Answered: 1 week ago