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Resource ID: #18521
Subject: Fraud
Source: Advertising Age
Date: 2022-02-26



Advertising Age tells the story of Philip Scheiber, the chief financial officer of the Berry Brown ad agency, who embezzled more than $6 million from his company and committed suicide when the crime was about to be discovered. The embezzlement was exposed when the agency was in final negotiations to be acquired. Berry Brown ended up being closed, and its assets auctioned off. The article reveals "the outrageous lavish lifestyle the executive had managed to keep from many of his colleagues and closest friends." A major conclusion is that small companies are the most vulnerable to white-collar crime.

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