MAYBERRY BANK & TRUST: A CASE STUDY
Keywords:
fraud, accountingAbstract
On September 14, 2017, news that Barton Ward, a highly respected banker, had been charged with committing a long-running bank fraud rocked residents of Hazzard County. Astonishingly, the reported fraud involved a theft of almost $1.5 million that occurred over nineteen-years. In executing a search warrant at Ward’s residence, police located bank statements, deeds, IRS, and tax returns, including fake identities.
Ward, a senior vice-president of commercial lending at Mayberry Bank & Trust, was charged with 1st-degree Forgery, Filing an Illegal Lien, Possession of a Forgery Device, and Identity Theft. These charges carry a 30-year maximum sentence. The news shocked banking employees, residents of the close-knit community, and banking regulators. Less than one year after the fraud was detected, Big City Bank acquired Mayberry Bank & Trust.
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