Macy’s logistics exec admits $3.5m shipping scam

Thanks to Loadstar for reminding us that in business our ethics can be challenged daily.  Logistics is no different.  This type of scam has been practiced for years; there was an incident when I was working for a mining company.  It involved accountants and shell companies that simply cashed checks without providing services.

Complexity in supply chains offers increased opportunity to cheat without being noticed.  The more partners there are, the more diverse interests and more complex contracts. But not every contingency can be detailed in a contract.  At the base, business deals are founded on trust.

  Logistics executive working for Macy’s pleads guilty to shipping scam that saw $3.5m embezzled from the retailer

Source: Macy’s logistics exec faces jail after admitting $3.5m shipping scam – The Loadstar


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