Story Time at Fraud Magazine


Cora Bullock
Asst. Editor, Fraud Magazine

"The universe is made of stories, not of atoms." -Muriel Rekeyser

We all love stories. Even if you're the most numbers-loving person, it's human nature to enjoy a good story. Through regular surveys, we have also found that ACFE members, in particular, can’t resist a true tale of fraud detection or prevention. That's why we're excited to produce our first-ever Fraud Magazine case-study issue this month.

Personally, I had become sick and tired of hearing the name "Bernie Madoff," until I read the opening chapter of The New York Times journalist Diana Henriques' fascinating book, The Wizard of Lies: Bernie Madoff and the Death of Trust. She writes in detail about the final week of Madoff's freedom, when he saw that his business was like a car on fire with the wheels coming off. Henriques, who received the ACFE's first-ever Guardian Award, provides fascinating details, from what Madoff wore when he was arrested to where the lawyers on both sides were and what they were thinking as they began realizing the magnitude of what he had done. I was transferring the chapter from PDF to Word, which entails endless formatting corrections, and I had to stop formatting just so I could sit and read it. (This chapter is available to ACFE members only at

In another article, writers outline a kickback scheme in which the fraudster was a victim, too. A professor and his team of students dissect the fascinating story of how a comptroller in a small town managed to allegedly steal a whopping $53 million. (You'll have to wait until the November/December issue to see how it concludes.) And there's more.

To read the full stories and more from the special case study edition, visit

We look forward to producing more special issues of Fraud Magazine. If you think of a theme or would like to contribute to the magazine, then email me at