Oh My Fraud

By: Greg Kyte & Caleb Newquist
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  • Summary

  • "Oh My Fraud" is an irreverent podcast from CPA/comedian Greg Kyte and blogger/former CPA Caleb Newquist. The two come together to unpack their favorite frauds and explore the circumstances, psychology, and interpersonal dynamics involved. They also fully indulge in victim-blaming the defrauded widows, orphans, infirm and feeble-minded—because who can resist? If you fancy yourself a trusted advisor—or prefer your true crime with spreadsheets instead of corpses—listen to this show to learn what to watch out for to keep your clients, your firm, and even yourself safe.
    © 2024 Fraud Takes, LLC
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Comedy & Humor True Crime
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Episodes
  • Financial Foul Play: A True Tale from Greg’s Workplace

    Financial Foul Play: A True Tale from Greg’s Workplace
    Nov 6 2024

    In this special episode, Caleb interviews Greg about a tricky situation he encountered early in his career as an accountant.


    Sponsors
    Tabs - https://ohmyfraud.promo/tabs
    Forwardly - https://ohmyfraud.promo/forwardly
    Artiffex - https://ohmyfraud.promo/artiffex


    • (00:00) - Welcome to Oh My Fraud
    • (00:37) - Listener Reviews and Ethical Dilemmas
    • (04:26) - Greg's Career Background
    • (05:32) - First Job and QuickBooks Training
    • (09:31) - The Client's Business and Management
    • (16:06) - Discovering Financial Irregularities
    • (18:24) - The Mysterious Loan
    • (24:07) - Checks and Balances
    • (33:57) - Firm's Response and Ethical Concerns
    • (37:44) - The Big Hairy Loan
    • (41:04) - Transition to In-House CPA
    • (44:07) - Monitoring the Loan
    • (47:22) - Revealing the Loan to the Board
    • (50:55) - Board's Reaction and Consequences
    • (01:03:22) - "John Bolton's" Hardball Tactics
    • (01:09:00) - Final Resolution and Aftermath
    • (01:15:37) - Lessons Learned and Reflections

    HOW TO EARN FREE CPE

    In less than 10 minutes, you can earn 1 hour of NASBA-approved accounting CPE after listening to this episode. Download our mobile app, sign up, and look for the Oh My Fraud channel. Register for the course, complete a short quiz, and get your CPE certificate.

    Download the app:

    Apple: https://apps.apple.com/us/app/earmark-cpe/id1562599728
    Android: https://play.google.com/store/apps/details?id=com.earmarkcpe.app

    Questions? Need help? Email support@earmarkcpe.com.

    CONNECT WITH THE HOSTS

    Greg Kyte, CPA
    Twitter: https://twitter.com/gregkyte
    LinkedIn: https://www.linkedin.com/in/gregkyte/

    Caleb Newquist
    Twitter: https://twitter.com/cnewquist
    LinkedIn: https://www.linkedin.com/in/calebnewquist/

    Email us at ohmyfraud@earmarkcpe.com
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    1 hr and 20 mins
  • Burned by Solar

    Burned by Solar
    Oct 23 2024
    In the era of climate change, it isn’t just about saving the planet using sustainable methods of energy, it’s about making a fortune from sustainable methods of energy. In this episode, Caleb and Greg discuss the story of DC Solar, a manufacturer of mobile solar generators.SponsorsForwardly - https://ohmyfraud.promo/forwardlyTabs - https://ohmyfraud.promo/tabsPractice Protect - https://ohmyfraud.promo/protect(00:00) - Introduction to the Unlikely Innovator(01:00) - Listener Reviews and Reactions(02:16) - Jeff Karpoff's Early Life and Struggles(09:19) - The Birth of DC Solar(12:27) - The Solar Eclipse Generator(13:36) - Hollywood's Interest and Initial Success(25:21) - Cracks in the Business Model(29:30) - The Ponzi Scheme Unveiled(30:58) - Jeff Karpoff's Extravagant Lifestyle(32:47) - NASCAR Sponsorship and DC Solar's Rise(35:18) - The IRS and Investor Scrutiny(36:29) - Bogus Reports and Fake Leases(38:18) - Massive Deals and Manufacturing Issues(39:49) - Fraudulent Practices Unveiled(53:02) - The Whistleblower and Legal Consequences(56:57) - The Aftermath and Loose Ends(58:30) - Lessons Learned and Final ThoughtsHOW TO EARN FREE CPEIn less than 10 minutes, you can earn 1 hour of NASBA-approved accounting CPE after listening to this episode. Download our mobile app, sign up, and look for the Oh My Fraud channel. Register for the course, complete a short quiz, and get your CPE certificate.Download the app:Apple: https://apps.apple.com/us/app/earmark-cpe/id1562599728Android: https://play.google.com/store/apps/details?id=com.earmarkcpe.appQuestions? Need help? Email support@earmarkcpe.com.CONNECT WITH THE HOSTSGreg Kyte, CPATwitter: https://twitter.com/gregkyteLinkedIn: https://www.linkedin.com/in/gregkyte/Caleb NewquistTwitter: https://twitter.com/cnewquistLinkedIn: https://www.linkedin.com/in/calebnewquist/Email us at ohmyfraud@earmarkcpe.comSources:The Billion-Dollar Ponzi Scheme That Hooked Warren Buffett and the U.S. Treasury [The Atlantic]Massive $1 billion solar power ponzi scheme results in the largest single-owner car collection ever auctioned by the U.S. Marshals Service — including Burt Reynolds’ Trans Am [AP]Obama Administration Announces Columbus, OH Winner of the $40 Million Smart City Challenge to Pioneer the Future of Transportation [WH]Federal agents raid home, business of Martinez resident [Martinez News-Gazette]DC Solar companies file Chapter 11 bankruptcy, Carpoffs leave leadership roles [Martinez News-Gazette]DC Solar files Chapter 11 bankruptcy, court papers show multi-million dollar debt [Martinez News-Gazette]Two plead guilty to participation in a Ponzi scheme involving $2.5 billion in transactions and $1 billion in loss [DOJ]Third Conspirator Pleads Guilty to Participation in a Ponzi Scheme Involving $2.5B in Transactions and $1B in Loss [DOJ]Fourth Conspirator Pleads Guilty to Participation in a Ponzi Scheme Involving $2.5B in Transactions and $1B in Loss [DOJ]Top Executives Plead Guilty to Participating in a Billion Dollar Ponzi Scheme—the Biggest Criminal Fraud Scheme in the History of the Eastern District of California [DOJ]Seventh Conspirator Pleads Guilty to Participation in the DC Solar Ponzi Scheme Involving $2.5B in Transactions and Nearly $1B in Loss [DOJ]DC Solar Owner Sentenced to 30 Years in Prison for Billion Dollar Ponzi Scheme [DOJ]DC Solar Owner Sentenced to Over 11 Years in Prison for Billion Dollar Ponzi Scheme [DOJ]Pleasant Hill man sentenced to 6.5 years in prison for billion dollar DC Solar Ponzi scheme [IRS]Vacaville Man Sentenced to 8 Years in Prison for Billion Dollar DC Solar Ponzi Scheme [DOJ]​​Nixon Peabody Gets OK For Deal With DC Solar Investors [Law360]Berkshire Takes Tax Hit as Victim of ‘Ponzi-Type’ Solar Scheme [Bloomberg]Martinez Clippers [Wikipedia] City ends Clippers license agreement [Martinez News-Gazette]Carpoff’s seized auto collection headed to auction [Martinez News-Gazette]Nearly 150 Collector Cars Seized in an FBI Raid Head to Auction [Motortrend]
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    1 hr and 8 mins
  • Airbusted

    Airbusted
    Oct 9 2024

    If you’re one of those cynical people who assumes that multinational corporations are deeply corrupt and only concerned with achieving global domination no matter the cost, then this episode is for you. Caleb and Greg discuss a case of international bribery, the likes of which the world had never seen.

    Sponsors
    Tabs - https://ohmyfraud.promo/tabs
    Forwardly - https://ohmyfraud.promo/forwardly
    Practice Protect - https://ohmyfraud.promo/protect


    • (00:00) - Welcome to Oh My Fraud
    • (02:34) - Airbus and the Watergate Connection
    • (11:02) - The Birth of Airbus and Its Rise
    • (13:51) - Airbus Self-Reports Bribery Scandal
    • (18:24) - The Mechanics of Airbus Bribery
    • (20:22) - Deferred Prosecution and Bribery ROI
    • (22:38) - Airbus Bribery Scandals Unveiled
    • (25:59) - Airbus' Self-Reporting and Consequences
    • (27:36) - The Global Investigation and Fines
    • (31:27) - Bribery vs. Marketing: A Blurred Line
    • (41:49) - The Largest Bribery Case in History
    • (42:49) - Closing Thoughts and Where to Find Us

    HOW TO EARN FREE CPE

    In less than 10 minutes, you can earn 1 hour of NASBA-approved accounting CPE after listening to this episode. Download our mobile app, sign up, and look for the Oh My Fraud channel. Register for the course, complete a short quiz, and get your CPE certificate.

    Download the app:

    Apple: https://apps.apple.com/us/app/earmark-cpe/id1562599728
    Android: https://play.google.com/store/apps/details?id=com.earmarkcpe.app

    Questions? Need help? Email support@earmarkcpe.com.

    CONNECT WITH THE HOSTS

    Greg Kyte, CPA
    Twitter: https://twitter.com/gregkyte
    LinkedIn: https://www.linkedin.com/in/gregkyte/

    Caleb Newquist
    Twitter: https://twitter.com/cnewquist
    LinkedIn: https://www.linkedin.com/in/calebnewquist/

    Email us at ohmyfraud@earmarkcpe.com

    Sources:

    • How the Foreign Corrupt Practices Act Came to Be — Corporate Compliance Insights
    • Early days (1967) — Airbus
    • History of Airbus S.A.S. — Britannica
    • Airbus to pay record £3bn in fines for 'endemic' corruption — The Guardian
    • Airbus to Pay $4 Billion to Settle Corruption Inquiry — NYT
    • Airbus to pay SFO €1bn in corruption settlement — BBC
    • Airbus enters into a coordinated resolution of foreign bribery investigation with US UK and French authorities for a total of 36 billion - Mondaq
    • Airbus Agrees to Pay over $3.9 Billion in Global Penalties to Resolve Foreign Bribery and ITAR Case — DOJ
    • Four Years and Almost $4 Billion: Airbus Corruption Investigations End with Sky-High Fine — Ropes & Gray LLC
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    45 mins

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Profile Image for Dawn Brady

Engaging podcast

I love the information and stories behind the crime. It’s informative and fun - gives me insight into what could be happening and what to be aware of.

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