Someone subsequently diagnosed with a brain tumour might easily be biased, consciously or unconsciously, to exaggerate the former and misstate the latter.
Fifteen percent of the CFOs surveyed said they would be willing to make cash payments to win business and 4% said they would be willing to misstate financial performance.
Fraud for profit is committed by industry professionals who misstate, misrepresent or omit relevant details about their personal or their clients' employment and income, debt and credit, or property value and condition with the goal of maximizing profits on a loan transaction.
According to the SEC, the Quantek hedge fund made loans to affiliates of Guerra and his Bultick Capital Markets Holdings that were not properly documented or secured, leading employees to later re-create the missing related-party loan documents, but misstate important loan terms and backdate materials to cover up the situation.