11 June 2008

An empire of imaginary metal

Rich List businessman Virendra Rastogi jailed for £350m fraud.

Only found out because a PwC auditor became suspicious when documents were all sent from the same fax machine. Maybe if auditors actually physically visited some of the "customers" they would have found out earlier, but then it is much easier to just check paper confirmations from clients and check the debits and credits add up - wouldn't want to do any real work.

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