$23 billion vanishing act : the First Brands fraud / Noah Barsky, William Gagliardi, Wes Hamilton-Jessop.

Format:

Book

Author/Creator:

Barsky, Noah P., author.

Gagliardi, William, author.

Hamilton-Jessop, Wes, author.

Series:

SAGE Business Cases

Language:

English

Subjects (All):

Commercial crimes.

White collar crimes.

Fraud investigation.

Corporate governance.

Physical Description:

1 online resource.

Place of Publication:

London : SAGE Publications, 2026.

Summary:

First Brands Group, a global automotive aftermarket parts supplier reporting nearly $5 billion in annual sales, filed for bankruptcy in September 2025 after its founder and CEO was alleged to have orchestrated a yearslong fraud involving fake invoices, double- and triple-pledged receivables, and hidden off-balance-sheet debt. This case examines how complex financial structure, in particular factoring, can be exploited to conceal fraud, and how organizational and governance failures allowed the scheme to persist for years. Students are asked to identify what red flags should have been visible, evaluate how oversight should be structured in complex financing environments, and assess what role emerging technologies such as AI could play in preventing such frauds in the future.

Notes:

Description based on XML content.

ISBN:

9798348873226

OCLC:

1610678939

Publisher Number:

304043