DOJ: Koss VP Embezzled $31 Million

There is embezzlement and then there is EMBEZZLEMENT. This is a post about the latter.

The former VP of Finance and Principal Accounting Officer for Koss Corp. is alleged to have engaged in a one-woman embezzlement scheme that is so big that the company now must restate financial statements going back to 2004. So inconceivably big that Sachdeva’s attorneys are now saying they may have her plead insanity to the six-count indictment brought yesterday by the DOJ charging her with wire fraud. So ridiculously big that it has led to a securities class action. Full details are available in this post on my Enforcement Action blog over at Compliance Week.