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Substitute "mortage broker" in this story.

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USPAP Compliant

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Jan 15, 2002
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Certified Residential Appraiser
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North Carolina
This story could just as easily be about a mortage broker. Very, very similar business model.


Auto dealer Harrelson will plead guilty in fraud case
Plea deal is likely to spare the auto dealer jail time, but he'll repay more than $1 million.




http://www.charlotteobserver.com/597/story/454183.html
 

John Hassler

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Jul 23, 2002
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Certified Residential Appraiser
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California
Why only mortgage brokers? Ms. Shappert's logic applies to every industry. With few exceptions, when a company goes down due to unethical behavior the rot is almost always from the top.

U.S. Attorney Gretchen Shappert said Harrelson's plea agreement “should send a strong message to the automotive industry that dealership owners will be held responsible for the fraudulent activities of their employees whether they participate in the fraud, authorize it, or simply sanction it.
“No business manager can operate a company permeated with fraud and bury his head in the sand to avoid responsibility for the criminal conduct of his employees,” Shappert said.
 
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