According to an article in a mid western newspaper, stealing $2.3 million from the Dakota Credit Union
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According to an article in a mid western newspaper, stealing $2.3 million from the Dakota Credit Union was simple. Joe Kramer, who lost the money gambling, was the credit union's only full-time employee. Kramer said he began gambling to make the payments on a $50,000 loan to a friend because the friend was unable to repay it. In a one-year period, Kramer made fifteen trips to Las Vegas, gambling to cover the $50,000 loan. While waiting for sentencing on a federal charge of looting, Kramer was fired from the credit union 1 week before the state Credit Union Board declared the institution insolvent and closed its doors. a. If Kramer is a licensed CPA, has he violated the AICPA Code of Professional Conduct? b. Should Kramer be permitted to practice as a CPA when he is released from prison? Explain your answer.
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a If the theft of funds is considered to be a felony Joe has committed an act dis...View the full answer
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