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March 23, 2006
Engineer Faked $310mm in Purchases
This is a bizarre story. Apparently an NEC engineer faked $310-million in "business deals and inflated sales" at the company since 2001. How does that happen? I mean, how does a single engineer -- not even a salesperson -- get to play with the revenue line in such an unnoticed, material way? Here, however, is NEC's explanation:...NEC said it failed to initially detect the problem because "it did not fully confirm all the details" of the transactionsYou know, silly things, like the existence of a buyer, and the transfer of money to NEC. Nobody checks that stuff.
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Ah sensei, a plausibly cynical explanation right out of my own explanation-book....
If only I could remember the Japanese translations for "scapegoat" and "fall guy". Perhaps it translates as "engineer" in English.