Successful fraud perpetrators are like good magicians. They know what people expect and cleverly exploit that expectation to disguise what actually is occurring. Any lawyer responsible for running a firm needs to know that changing the observer’s point of view or frame of reference can help reveal the fraudster’s trick.
Here’s a hypothetical example of how fraud can go undetected until a key observer changes her frame of reference. This doesn’t represent any particular people, events or entities, but it does reveal an all-too-common scenario.
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