Macy’s employee responsible for a $151 million accounting scandal made one mistake that snowballed into an intentional coverup
Macy’s finally released its third-quarter earnings on Wednesday after having to delay it due to a massive accounting scandal caused by one employee. The employee, who no longer works for Macy’s made one mistake that led to years of coverup.
Macy’s rogue employee hid $151M in expenses to cover up mistake, wasn’t motivated by personal gain
According to the Wall Street Journal, the employee told investigators about having mistakenly understated the amount of small parcel delivery expenses in late 2021, citing a source briefed on the
Macy’s tightens financial controls after employee covered up what became a $151 million mistake
Macy’s said Wednesday that it has tightened internal financial accounting measures after completing a probe of a rogue employee who hid $151 million in delivery expenses over a span of nearly three years.
Macy’s Probe Found Employee Acted Alone in $151 Million Accounting Scandal
Macy’s has completed its investigation into accounting problems and found that a single employee’s mistake and coverup created $151 million in false bookkeeping entries.
Macy's confirms rogue employee hid $151 million in expenses over three years
A rogue employee was responsible for hiding $151 million in delivery expenses over the course of nearly three years, Macy's said Wednesday.
Macy’s provides more details about that employee who hid more than $150 million worth of expenses
Macy's confirms employee hid $151M in expenses to cover mistakes
Macy’s revealed new details about an employee who hid millions of dollars, saying what started as a single mistake led to years of cover-up.
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