Anatomy of a Fraud

In: Business and Management

Submitted By Alisan1
Words 3274
Pages 14
Anatomy of a Fraud Project
Abraham Kennard: The False Profit

Alisan James
Forensic Accounting
November 25, 2013
Dr. N. Sharma

Abstract
The goals and objectives of a fraud investigation are to think critically and creatively to be able to prepare and organize ideas to uncover a suspected fraud. Crook, hustler, swindler, fraudster and con artist are all used interchangeably to describe someone who will spare no expense to deliberately and intentionally achieve an advantage over another by false statements and suppression of truth. Fraud is elevated to another level when the con artist aims and targets investments scams towards members of a specific group, particularly religious groups. This is commonly referred to as, affinity fraud. This paper will extensively and thoroughly evaluate the anatomy of the fraud perpetrated by Abraham Kennard, an inappropriately named man of God who viewed the weaknesses of the African-American church to use his big personality and persuasive attitude to ultimately scam nearly 1,600 churches in 41 states, totaling almost $9 million. This paper will also discuss and analyze the application of the fraud triangle, the application of the fraud theory, explain the evidence and damages of the fraud, describe the disposal of the case and the lessons learned in relation to this ponzi scheme. The goal of this paper is to not only increase awareness of this type of scheme, but to also educate and prevent those who may be potential targets from becoming actual victims.

Introduction The man with the plan did have the name of a Prophet: Abraham, last name, Kennard. Abraham Kennard, a magnetic and charismatic speaker who preached the Word of God, was convicted and sentenced to more than 17 years in a federal prison for fraud, income-tax evasion, money laundering and conspiracy to commit money laundering by scamming…...

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