Situation
This case study shows how white-collar crime caused a family-owned Pennsylvania fuel supply subcontractor to file bankruptcy and 275 people lost their jobs.
While serving as executives at Worley & Obetz (W&O) Jeffery Lyons, the company president and Judith Avilez, the company controller, schemed to defraud Fulton Bank out of more than $65 million. The executives created fake monthly financial statements that deceived the lenders at Fulton Bank into thinking the business had significant accounts receivable.
The information in this case study comes from two Department of Justice (DOJ) press releases and several news articles.
