Big Time Food Stamp Fraud

Posted by & filed under Accounting Information Systems, Accounting Principles, Advanced Accounting, All Articles, Auditing, Cost Accounting, Ethical Dilemma, Financial Accounting, Fraud Accounting, Income Taxes, Intermediate Accounting, Managerial Accounting, Uncategorized.

Sheriff Mike Williams of Jacksonville, Florida, announced Tuesday the results of a multi-agency, undercover investigation into the exchange of Supplemental Nutrition Assistance Program (SNAP) benefits for cash and, in at least one case, cocaine.

Questions:
1. From 2012 to 2017, how many food stamp transactions were fraudulent in Jacksonville and what was the dollar amount?
2. In most cases, what percentage did food-stamp recipients receive for each dollar of SNAP used?
3. What was the name of the undercover operation in Jacksonville?
4. How were those individuals with SNAP/EBT (Electronic Benefits Transfer) cards complicit in the fraud?
5. What was the most interesting statistic in the article to you and why?

Source:
Parenteau, C. (2018). 198 ensnared in Jacksonville food stamp fraud totaling $3.7M. Jacksonville Channel 4 www.news4jax.com, March 16 (Retrievable online at https://www.news4jax.com/news/local/jacksonville/jacksonville-busts-organized-fraud-ring)