Kaleil Tuzman: The Rest of the Story

Posted by & filed under Accounting Information Systems, Accounting Principles, Advanced Accounting, Auditing, Cost Accounting, Ethical Dilemma, Financial Accounting, Fraud Accounting, Intermediate Accounting, Managerial Accounting, Video Updates.

Kit Digital Inc.’s former chairman and chief executive officer and its former chief financial officer were arrested and charged with accounting fraud at the software company.

Questions:
1. What was the type of accounting fraud that Tuzman and Smythe are charged with committing?
2. According to the article, how much money was involved and who benefited?
3. What is the background of Kaleil Tuzman and what documentary did Mr. Tuzman star in?
4. Did Kaleil follow his own advice? Discuss.

Source:
Voris, B.V. (2015). Kit Digital Ex-Chief Tuzman Charged With Accounting Fraud. Bloomberg Business, Sep. 8 (Retrievable online at http://www.bloomberg.com/news/articles/2015-09-08/kit-digital-s-tuzman-and-smyth-arrested-in-accounting-fraud)