Moneylife’s piece on the PwC forensics in Ricoh.
Moneylife got access to PwC Forensic report on the alleged wrongdoings at Ricoh. A forensic report is very enlightening on the heuristics used to suspect fraud and I have always wanted to lay my hands on one, sadly unsuccessfully.
This one doesn’t disappoint in outlining how fictitious sales were generated, the various parties - inside and outside involved, the transactions that give away fraud. It is also particularly damning on another listed company which has been touted as a multibagger in this veritable forum.
Here’s the link to the Moneylife report - The Fraud At Ricoh. Exclusive: PwC Forensic Report