Every choice has a consequence! That is my opening comment at each presentation I do involving ethics and fraud prevention. In this case, as a former CPA who spent time in federal prison, I know first hand what is soon going to be the experience that a fellow CPA will face. And the sad thing is – for both of us – we knew better!
The question is – was it worth it?
Just days ago, Thomas P. Flanagan, CPA, and former partner in the Chicago office of Deloitte & Touche, LLP, was sentenced to 21 months in federal prison for engaging in insider trading after he obtained material, non-public information about publicly traded clients and used the information himself and shared it with a relative to make illegal trading profits.
Like me so many years back, Flanagan is free on bond and will begin his sentence on January 15…
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