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

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Chapter 31

Like Two Sides of the Same Coin

Patrick Wellens

Kim Lee was a good-looking, 58-year-old, flamboyant extrovert who was full of energy. A self-made businessman, he was very successful and worked long hours to maintain the prosperous growth of his company. At 63, Jonathan was contrary to his younger brother Kim, who liked a posh, fast-paced lifestyle. Jonathan was the calm, introverted thinker of the family.

Both Jonathan and Kim went to the University of Hong Kong, where they graduated with honors in economics. Afterward they both attended several management training courses.

Jonathan had been married for more than 20 years to Dana, who used to work as a teacher, and they had one daughter, 28-year-old Kyla, who was studying in the United States to obtain a doctorate. Kim was married to Tamara, a homemaker, and they had two children, Tommy (27) and Sheila (26).

Kim worked his way up through a variety of sales positions (sales rep, district sales manager and regional sales manager) in a fast-growing consumer goods company before cofounding Sports Trading. Jonathan worked for years at a Big Four audit company, followed by stints in financial management positions until he decided to start his own company with his brother and act as general manager and CFO.

Kim had a great desire to be successful; he worked extremely hard but also liked status, authority and a posh lifestyle that included playing golf, driving around in a limousine, having dinners at fancy restaurants and ...

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