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Financial Misconduct

Business
Macy's Employee Hid Up To $154M In Expenses Since 2021, Company Says Macy's Employee Hid Up To $154M In Expenses Since 2021, Company Says
Macy's Employee Hid Up To $154M In Expenses Since 2021, Company Says A Macy’s employee misstated up to $154 million in delivery expenses over several years, the company just said. The development forced the retailer to delay its third-quarter earnings report. The employee, whose name has not been released, has been fired. According to the company, the employee responsible for accounting small package delivery expenses made erroneous accrual entries to conceal the costs from the fourth quarter of 2021 through the most recent quarter. During that time, Macy’s reported a total of $4.36 billion in delivery expenses. The company conducted an independent investi…

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by Joe Lombardi
Police & Fire
Bergen Prosecutor's Lieutenant Charged With Stealing Coke, Fentanyl From Evidence Bergen Prosecutor's Lieutenant Charged With Stealing Coke, Fentanyl From Evidence
Bergen Prosecutor's Lieutenant Charged With Stealing Coke, Fentanyl From Evidence A Bergen County prosecutor’s lieutenant stole cocaine and potentially deadly fentanyl from his department's evidence room, then tried to return the drugs in “substantially different” condition after superiors got wise, state authorities charged. Kevin T. Matthew, 47, of Cedar Grove, apparently was selling the drugs based on what was a series of cash deposits under $10,000 each at various banks to try and slide past federal reporting requirements, Attorney General Matthew Platkin said on Tuesday, Dec. 19. Two razor blades were also found in Matthew’s office at the BCPO, the attorney general …

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by Jerry DeMarco