"Nobody notices cause the losses are all within the limits of the loss projections and reserve accounts. Sweet and neat! Million dollar embezzlement scam with the SEC's approval."
"How much follow up did you do?" Higgins asked as his pen fly across the legal pad.
"Due to superior reporting ability," Scott puffed up his chest in jest, "I found that a good many account numbers listed in the package I received are non-existent. But, with a little prod- ding, I did get someone to admit that one of them was recently closed and the funds moved elsewhere.
"Then, this is the clincher, as the caller promised, today, I looked for the First State SEC reports, and damned if the numbers didn't jive. The books with the overseas accounts are the ones with the real losses and where they occur. The 'real' books don't."
"The bottom line, please."
"Someone has been embezzling from First State, and when they're through it'll be $3 Billion worth." Scott was proud of himself. In only a few days he had penetrated a huge scam in the works.
"You can't prove it!" Higgins declared. "Where's the proof? All you have is some unsolicited papers where someone has been play- ing a very unusual and admittedly questionable game of 'what if'. You have a voice on the end of a phone with no name, no nothing, and a so-called confirmation from some mid-level accountant at the bank who dribbles on about 'having to do it' but never saying what 'it' is. So what does that prove?"
"It proves that McMillan is a fraud, a rip-off," Scott retorted confidently.
"It does not!"
"But I have the papers to prove it," Scott shuffled through the folders.