Fraud types: Crooked scenariosStudent Name:Institution:Date: Crooked Scenario 1.Initial data regarding how the Drill and Crooked companyconducted their operations indicates that a number of typesof frauds were committed.The two companies engaged in economic extortion fraudthrough the inflation of the contract cost from $50 millionto $125. it was also noted that the Drills corporateheadquarters never monitored the contractual terms, andhad fewer controls, thus, facilitating the commitment of thefraud.Mack engaged in corruption fraud by giving out some cash topolice in order to secure his freedom. Fraud types: Crooked scenario 1Fraud of financial statement was committed alsothrough records falsification. Also, Mack wasprepared to offer lavish trips to union representativesto ensure that things run smoothly. This shows that,he was prepared to commit illegal gratuities fraud,and should be investigated further.Conflict of interest is also evident in the case whereStagger Lee and Mack relatives made a bid on theconstruction of the pipeline project. Control Measures: Crooked scenario 1Economic extortion fraud committed could have beencontrolled if right to audit clauses were implemented inthe contract.With the help of implementing proper accounting awarenessand measures, every corrupt practice could be avoided.With the help of keeping proper book-keeping, unlawfulgratuities could be lessen.By offering a framework of practi ...
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