Jim Beam is the CEO of Magpies Ltd, a developer and manufacturer of specialised electrical engineering equipment operating in Sydney, Australia. Market research conducted by Magpies revealed that Lions Ltd ['Lions'). a large electrical engineering company operating in Texas, USA, could signicantly improve its processes if it purchased special equipment developed and manufactured by Magpies. The cost of the special equipment is $USD2.5 million. In order to initiate the prospective sale of equipment to Lions. Jim contacted his agent in New York, USA to pitch the prospective sale to the CEO of Lions. The agent guaranteed that the sale will take place provided that Magpies paid the agent upfront a commission fee made up of a negotiation fee of $USDZ0.000 plus a guarantee fee of $250,000 to persuade the CEO of Lions to purchase the equipment. The agent instructed Jim to account for the negotiation and guarantee fees paid as 'research and development expenses' rather than 'commission expenses'. Jim thought this was a great idea and instwoted the Accounts Manager to electronically transfer $USD500.000 to the agent's bank account held with Yippee Bank in Switzerland. One week later the agent contacted Jim and advised that the CEO of Lions has signed the contract to purchase the equipment. REQUIRED: (a) Identify and discuss the most likely fraud offences that have been committed in the above case? (6 marks) (b) What are two difculties an investigator is likely to face during the investigation of this case? {2 marks) (c) How could this fraud have been prevented? (2 marks)