The Koss of Doing Business
Family businesses are part of the bedrock of American entrepreneurship. But they carry their own unique risks. In this episode, Caleb and Greg discuss a decades-long successful family business—the Koss Corporation—and the fraud that exploited its close-knit family atmosphere.
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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 : ohmyfraud@earmarkcpe.com
Sources:
To learn more go to http://ohmyfraud.promo/xero
Thank you to our sponsor RuBook Creative
Use PROMO CODE - OHMY at checkout to receive 10% off your next order
https://www.ohmyfraud.promo/rubook
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.
Launch the course on EarmarkCPE to get free CPE/CE for listening to this episode..
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 : ohmyfraud@earmarkcpe.com
Sources:
- Koss History
- Koss Corporation - Company Profile, Information, Business Description, History, Background Information on Koss Corporation [Reference for Business]
- All The Right Moves [Inc.]
- The Diva [Milwaukee]
- Former Koss Corporation Executive Charged in $31 Million Dollar Fraud [FBI]
- United States of America v. Sujata Sachdeva via Tracy Coenen
- How an embezzler stole millions from a small company [AccountingWeb]
- Theft at Koss blamed on relaxed attitude, lax oversight [MJS]
- SEC v. Koss Corporation and Michael J. Koss [Securities and Exchange Commission]
- Publicly owned and family-run [Family Business]
- Sachdeva pleads guilty, says she regrets fraud [MJS]
- Koss embezzler feared discovery from start [MJS]
- Former Koss Corp. executive Sachdeva sentenced to 11 years in prison [MJS]
- SEC Charges Two Accounting Professionals at Milwaukee-Based Company with Fraud [SEC]
- Koss sues former executive, auditor over alleged embezzlement [MJS]
- Koss settles claims against former auditor Grant Thornton [MJS]
- Sachdeva out of prison after serving six years for stealing $34 million from Koss Corp. [MJS]
- Koss family around $30 million from Reddit-fueled stock market frenzy -- more than the company was worth at the end of 2020 [MJS]
- Koss Corporation 10-K YE June 30, 2022 [SEC]
- John C. Koss, Stereo Headphone Innovator, Is Dead at 91 [NYT]
- Chapter 7 versus Chapter 11: Know the Difference — Investopedia
Creators and Guests
Host
Caleb Newquist
Writer l Content at @GustoHQ | Co-host @ohmyfraud | Founding editor @going_concern | Former @CCDedu prof | @JeffSymphony board member | Trying to pay attention.
