AI-powered
podcast player
Listen to all your favourite podcasts with AI-powered features
The Accounting Podcast
Headlines: How a Vegas Hotel Manager Allegedly Stole $773K in Guest Refunds
Nov 1, 2023
A former Vegas hotel manager allegedly stole over $773K in guest refunds, living lavishly; discussion on the steps that could have been taken to detect and prevent such fraud.
03:35
AI Summary
AI Chapters
Episode notes
Podcast summary created with Snipd AI
Quick takeaways
- Regular audits, controls, and data analytics can help detect and prevent fraudulent refund scams like the one at Aria Resort and Casino.
- Creating a culture that rewards whistleblowers and strengthening internal controls can significantly mitigate the risks of fraud for corporations.
Deep dives
Fraudulent refunds and lavish spending
Brandon Johnson, a former operations manager at the Aria Resort and Casino in Las Vegas, is facing 15 felony charges, including theft, computer crime, and money laundering, after allegedly stealing over $773,000 in guest refunds. A co-worker became suspicious of Johnson's extravagant purchases and found that he had processed over 200 fraudulent refunds onto his personal debit card. The scheme started small but escalated over time. Johnson allegedly moved the stolen money between various Chase accounts to conceal the source. Johnson's co-worker reported the findings, but claims they were terminated by Aria. Regular audits of refund transactions, controls and approvals over refunds, and using data analytics to flag suspicious transactions are some suggestions to prevent and detect this type of fraud.
Get the Snipd
podcast app
Unlock the knowledge in podcasts with the podcast player of the future.
AI-powered
Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode
Save any
moment
Hear something you like? Tap your headphones to save it with AI-generated key takeaways
Share
& Export
Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more
AI-powered
podcast player
Listen to all your favourite podcasts with AI-powered features
Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode