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Thread ID: 105721	2009-12-11 19:45:00	Yes Most Corporates are Stupid	pctek (84)	PC World Chat

Post ID	Timestamp	Content	User
838857	2009-12-11 19:45:00	www.stuff.co.nz A conman who lied on his CV to get a job, went on to rip off the firm for more than $1.75 million. Trevor Uialatea Esera admitted creating hundreds of fake invoices while in charge of Rinnai New Zealand's IT department, funnelling payments into his wife's bank account. His simple, yet effective fraud – he used Microsoft Excel templates to create the 350 bogus invoices – lasted six years and made him $1,758,193. He was caught only after he resigned and his work replacement stumbled across the false invoicing system. Serious Fraud Office assistant director Gib Beattie said yesterday that Esera was "almost the archetypal conman". "A good conman is able to persuade people that they know what they are doing, and that they can be trusted. "People's nature is to trust. He pretty much had free rein and he took advantage of it." Esera was convicted in Auckland District Court yesterday on three charges of using a document with intent to defraud, three of obtaining by deception and one of dishonestly taking or using a document. Even his job application was a lie. According to court documents obtained by The Dominion Post, Esera claimed on his job application in 2000 that he had a bachelor of business studies from Massey University. SFO inquiries revealed he had never completed a business or accounting degree. Once employed at Rinnai, Esera soon moved up the ranks. He became the company's IT manager and a member of its executive leadership team. He was responsible for signing off expenditure and preparing the IT budget, and was in charge of ordering equipment and computer software. He created fake invoices from three companies. Two of the companies – Intergra Images and Software Plus – were bogus, and the third had no idea what he was doing. Court documents described the fake firms as "companies of his own invention". Esera's bosses were oblivious to his fake invoicing. "His budget estimates were not questioned by more senior staff at Rinnai, who had little or no experience in the IT field." Esera was also convicted of mortgage fraud. In 2006 he used false documents to over-state his financial situation and obtain a mortgage of $459,000. He forged the signature on an employer's statement of his salary – "which substantially overstated his income" – and created fake payslips and internet banking printouts. He will be sentenced in April.	pctek (84)
838858	2009-12-11 20:26:00	Oh well if anyone is stupid enough not to check the IT budget they deserve to lose every penny. It still amazes me how incompetent some management can be when it comes to IT. I would say that 33% still cannot copy and paste. Not that many students can do much better. What do they learn... "How to moan without smiling" "How to disobey an instruction without being caught" "How to apply for a job above ones station" "How to be a manager at 16" All of the above I reckon.	zcc (50)
838859	2009-12-11 23:52:00	Oh well if anyone is stupid enough not to check the IT budget they deserve to lose every penny. It still amazes me how incompetent some management can be when it comes to IT. I would say that 33% still cannot copy and paste. Not that many students can do much better. What do they learn... "How to moan without smiling" "How to disobey an instruction without being caught" "How to apply for a job above ones station" "How to be a manager at 16" All of the above I reckon. I think we have the making of a cynic here.	Cicero (40)
838860	2009-12-11 23:54:00	And the auditors must have been asleep as well!	Sweep (90)
838861	2009-12-12 03:01:00	And the auditors must have been asleep as well! You are right Sweep. To me this is a crime of equivalent status. Their name should be published, and they should be severely censured or fined by the Society of Accountants.	Richard (739)
838862	2009-12-12 04:51:00	Settle down. This might be a surprise to you, but it is not a prime objective of an audit to detect fraud. But if they do find it, hey must act. It is likely that the procedures used will detect some fraud, but do you really think they look at each invoice paid and see if the issuing comany is legit?	wotz (335)
838863	2009-12-12 05:30:00	His name should have set off warning bells.	prefect (6291)
838864	2009-12-12 05:34:00	Settle down. This might be a surprise to you, but it is not a prime objective of an audit to detect fraud. But if they do find it, hey must act. It is likely that the procedures used will detect some fraud, but do you really think they look at each invoice paid and see if the issuing comany is legit? I don't think the auditors would or should look at each invoice. However they should be looking at percentages and if costs increase significantly over previous years then they should be trying to find out why.	Sweep (90)
838865	2009-12-12 05:49:00	Back in about 1995 the part time office person for Palmers Napier who did the banking was caught with about $10000 in her bank account from Palmers. :)	Trev (427)
838866	2009-12-12 06:42:00	You are right Sweep. To me this is a crime of equivalent status. Their name should be published, and they should be severely censured or fined by the Society of Accountants. Mostly you will find it is a closed shop,like the eye surgeons of yore,you will remember them young Richard.	Cicero (40)
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