An accountant with the Atlanta Olympic Games was charged with embezzling over $60,000 to purchase a Mercedes-Benz and to invest in a certificate of deposit. Police alleged that he created fictitious...

An accountant with the Atlanta Olympic Games was charged with embezzling over $60,000 to purchase a Mercedes-Benz and to invest in a certificate of deposit. Police alleged that he created fictitious invoices from two companies that had contracts with the Olympic Committee: International Protection Consulting and Languages Services. He then wrote checks to pay the fictitious invoices and deposited them into a bank account he had opened under the name of one of the companies. When he was apprehended, he cooperated with police to the extent of telling them of the bogus bank account and the purchase of the Mercedes-Benz and the CD. The accountant was a recent honors graduate from a respected university who, supervisors stated, was a very trusted and loyal employee.

In your opinion, how does the accountant fit the profile of a fraudster? How does he not fit the profile? What fraud scheme did he use to perpetrate his fraud? What controls could have prevented his fraud? What controls could have detected his fraud?