ABB, A major European conglomerate, says one of its employees in South Korea has stolen $100 million. That has got to be a record but I have to wonder how he/she plans to spend it.
:eek:
Probably the same way anyone else would spend 100 million ill-gotten dollars.
Didn’t Nick Leeson steal more?
He lost more. It doesn’t mean he personally came into possession of that money.
A really good lawyer?
$50 million to Swiss authorities still leaves the guy with $50 million of his own to set up house undisturbed in an undisclosed Alpine village.
My plan would be, if I had embezzled say 1 million dollars and were about to get caught in an audit, to quickly steal as much more as I could, ten million or so ignoring the risk of detection, then, when caught, offer to return most of it in return for immunity from prosecution. Hey, wouldn’t they rather have 8 million back of their money?
Your ideas about Switzerland are rather odd.
For a private company, maybe. But the real big bucks are in kleptocracy!
EDIT: There’s also the Moldovan banks that had about $1 billion stolen; that’s pretty impressive.
Brian Molony embezzled (and gambled away) 10.2M CAD. They made a pretty good movie about him (Owning Mahoney)
Bruno Iskil (the London Whale) lost 6.2B for JPM, but AFAIK that was monumental arrogance/stupidity rather than outright fraud/embezzlement. There’s also the possibility that he was just following orders.