O'Reilly logo

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

Stay ahead with the world's most comprehensive technology and business learning platform.

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, tutorials, and more.

Start Free Trial

No credit card required

Chapter 8

Easy Come, Easy Go

Brad Mroski

Mike Morris and Tony Vincenti had been good friends for years, with a friendship dating back decades when the two had worked together at global telecommunications giant Aster in Dallas, Texas. With a bond formed through sharing various projects, it was not uncommon to find the two men over drinks after hours while discussing the numerous opportunities that existed for entrepreneurial minds in their rapidly evolving industry. Mike, an engineer by trade, was never short on ideas for dynamic new products while Tony, who worked in Aster's finance group, was very aware of the riches that could be made by start-up companies in the telecommunications arena. Therefore, it was no surprise that when Mike left Aster to start his own company, WireTech, he reached out to Tony to be his chief financial officer.

Tony was a charismatic individual who fancied himself as Mike's right-hand man. He thrived in the fast-paced environment of a startup company and found enjoyment in negotiating financing agreements with lenders and investors. In fact, Tony would be the first to tell you that he never viewed himself as an “accounting guy,” but as a deal maker who was responsible for facilitating WireTech's growth. Tony understood the importance of accurate accounting and a robust control environment, especially in a fast-paced and dynamic environment such as WireTech's, but he needed to focus on big picture issues. He could always rely on the people he hired to ...

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, interactive tutorials, and more.

Start Free Trial

No credit card required