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Financial Statement Fraud Casebook: Baking the Ledgers and Cooking the Books by Joseph T. Wells

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Chapter 5

The Broken Trust

Aaron Lau

Peter Sun was a Malaysian of Chinese origin. An accomplished linguist, he was proficient in the English, Malay and Chinese languages. Peter had been married to his lovely wife, Jane, for ten years and they had two intelligent boys. Peter was extremely proud of his sons' early academic and extracurricular achievements.

Peter's parents both worked as farm laborers, and Peter grew up humbly, deprived of many of the luxuries that youngsters today enjoy. Money was tight in Peter's family, and it was not easy for his parents to support and raise their three sons and three daughters. But Peter was determined to get a good education and succeed in the business world.

Peter started working as an assistant chemist at Hybiscus Manufacturing, a company that manufactured cosmetics, after he obtained his associate's degree in chemistry. His diligence at work was admirable and enviable, according to one long-term employee who said, “He was always the first to arrive and the last to leave the factory.”

In spite of his heavy workload during the day, Peter found time to enroll in an evening part-time chemistry program at a local college and worked toward his bachelor's degree in chemistry. After earning his degree, he was promoted to chemist.

He was not satisfied, however, with his position and salary. His strong desire for academic excellence and drive for success propelled him to pursue a doctorate in chemistry, and he sacrificed a year and a half to prepare ...

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