Making fake receipts to expense
if your firm expenses meals at $30 a night and you end up making fake receipts... you could in theory make an extra 10k a year just from this exercise.
Has anyone thought about it, tried it?
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intern posts like this give all interns a bad name. tf is wrong with you
Bruh
Smart
Imagine getting banned from the industry and probably prosecuted for an extra 10k
You have to pay for dinner anyway… so it’s a wash
...OP means make a fake receipt for a food purchase which never actually occurred, so you'd be reimbursed and pocket the cash.
Yes but you still need to get food to make up for the meal that you didn't actually buy.
A bank fired about 20 analysts for this a few years ago. Then FINRA banned them since the misdemeanor level offenses were dishonesty with money.
Horrible idea, Wells Fargo caught a whole bunch of people and had them fired and reported them to FINRA. There were people who submitted one false receipt and got fired over it.
https://qz.com/work/1374720/a-cautionary-tale-for-anyone-who-has-gotten…
And don't think you are slick, they can contact the platform and ask for the bill. If what you submit doesn't tie with what is on the platform, then you're in trouble. People were fired over simply having food delivered to their home instead of delivered to the office because they submitted a fake report saying that it was delivered to the office.
Use that intelligence towards something more useful like building a nicer PowerPoint shell, or reformatting your model or even better preparing for PE case studies
If a bank w/ a 75% loan to deposit ratio has $10mm in outstanding loans, could you theoretically make $13.3mm in one day by robbing it?
$10mm / .75 = $13.3mm in deposits. If all deposits are in cash, yes my friend.
Also not OP fuck that guy
There was a thread about a guy doing this a few years ago. Terrible idea
You should totally do it, bro. 10k is a lot of money and completely worth the risk.
So to clarify, this could theoretically be done. All you’d need to do is find a small food place where you could tell the manager to make fake receipts (I.E. fancy food for $30, but they wouldn’t actually make any food) and give him $10, so you’ll pocket $20. You’d then have a real receipt and your firm would never find out from the receipt.
That said, are you seriously that stupid? $10k? Even with this idea, you wouldn’t even net that amount, plus your team would be super suspicious why you always order from the same place every day and always ~$30. You’d also have to find a restaurant owner so cheap that they would be willing to get fined/sued over like $3k a year. Are you really scrounging around for $10k that badly? If your company is paying the meals, you’re likely IB and going to get a bonus that will hopefully be more than that.
I can only assume this was a meme/joke and you aren’t actually thinking about this or taking what I said as an actual idea. Just be thankful the company is giving you free food and just screw them over by taking your vacation instead of letting it accrue and then go unused.
You sound like the Stern student body President who got caught insider trading and was fired from RBC and banned from finance by FINRA
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