Fraud deconstructed: How an executive assistant embezzled a whopping $22 million

November 10, 2021 BDO CANADA

Phoebe Greenberg and her Montreal-based arts and culture organization, the Phi Centre, were defrauded over $22 million in the space of just 18 months.

The organization’s office manager and executive assistance, Sandra Testa, was found to have misappropriated millions of dollars between 2016 and 2017 to finance luxury expenses and generous handouts to friends.

How did such a colossal fraud escape immediate detection? By closely dissecting the incident, our case study presents strategies to prevent and detect occupational fraud in your business.

Keep reading to learn more.

Click to view our case study

This is the second installment of a series breaking down notable fraud cases and extrapolating insights, lessons learned, and techniques for prevention from these real-life events.

Our first case study breaks down a procurement fraud case at Netflix. Learn from the streaming giant’s mistakes to avoid making them in your own company.

For more information, please contact:

Alan Mak, Partner, Forensic Disputes & Investigations Financial Advisory Services

Chetan Sehgal, Partner, Forensics & Litigation Support

Anne-Marie Belanger, Partner, Forensic Disputes & Investigations Financial Advisory Services

Ziad Akkaoui, Partner, Risk Advisory Services

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