Question

In one of the case studies in the textbook, Bill Gurado was a branch manager for a consumer-loan finance company in New Orleans who decided to help himself to the daily deposits. Instead of depositing the money into the company's bank account, he deposited the money into his own personal account. How was Gurado's fraud discovered

Answer 1

He suspected he was on the verge of being caught, called the company's president, and confessed that he had taken the money.

Step-by-step explanation:

Fraud is an act of misrepresentation of facts in order to gain an unfair advantage and wrongful ownership of an asset that is not one's own.

It is the act of converting another's property to oneself through illegal activities.

In this instance Bill was depositing funds into his personal account. He eventually confessed to the fraud.

A statement review of the customer account would have easily uncovered the fraud committed.