Fraud Triangle Essay

15254 Words Dec 24th, 2012 62 Pages
Chapter 2
Who Commits Fraud and Why
I, Dennis Greer, am making this statement on my own, without threat or promises, as to my activities in regard to the activity of kiting between Bank A and Bank B. As of May
19XX, I was having extreme emotional and financial difficulties. For religious reasons, I was required without notice to move out of where I was living, and I had no place to go.
Also, my grandmother—the only family member I was close to—was dying. I had to live out of my car for 3 1/2 weeks. At the end of this time, my grandmother died. She lived in
Ohio. I went to the funeral and I returned with a $1,000 inheritance. I used this money to secure an apartment. The entire sum was used up for the first
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After a week of nothing being said to me by the banks, I began to make other purchases via this method. I needed something to sleep on and a blanket and other items for the apartment. I bought a sleeper sofa, a desk, a modular shelf/bookcase, dishes, and also paid off my other outstanding debts—college loans, dentist bill, and credit. I was acting foolishly. No one had questioned me at the banks about any of this. I usually made deposits at different branches to try to avoid suspicion, but when I was in my own branches, no one said a thing. I thought maybe what I was doing wasn’t wrong after all.
So I decided to purchase a new car, stereo, and a new computer to use at home for work. Still, I did not have a problem making deposits at the banks. But, I was feeling very guilty. I knew I needed to start downsizing the “debt” and clear it up. I began to look for a better-paying job. Finally, last week I got a call from Bank B while I was at work: They had discovered a problem with my account. I realized then that the banks
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 had found out. Later that day, I got another call from Bank A. They told me that what I had been doing was illegal and a felony. I was in shock. I didn’t know it was that bad. I realize now how wrong what I did was. From the start, I knew it was unethical, but I didn’t know it was indeed a crime until

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