Koss Fraud: Losses Higher, Grant Thornton Fired, Baker Tilly Virchow Krause Hired

I’ve had plenty to say about the massive fraud Koss Corp has suffered at the hands of their Vice President of Finance, Sue Sachdeva.

In this news story from Milwaukee’s ABC affiliate, WISN 12, I talk about how a company with annual revenue in the $40 million range can fall victim to a fraud loss of $31 million (current estimate, up from original estimate of $4.5 million and first revision of $20 million): Continue reading

More on Fraud at Koss Corp.

Today’s Milwaukee Journal Sentinel provides additional insights into the alleged fraud committed by Koss Corp. VP of Finance Sue Sachdeva. Initially the fraud was estimated at $4.5 million, but that was quickly revised upward to more than $20 million. It is alleged that Sachdeva spent millions in corporate funds on clothing, jewelry, and other items.

My comments in the article: Continue reading