4. False inventory: The managing team of an international project has stolen millions of naira provisioned to buy equipments. The external audit time of the project is looming. A group of experts will visit the project sites soon.
The managing team does not panic. They call a friendly contact who has a rental shop with the materials they should have bought. Few days before the audit, the materials are shipped to different sites. The audit goes well. Everything is in place and according to the budget.
After the experts leave, the rent shop owner comes to take back his materials in exchange of a good bribe.
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Another variant of this scheme is to mark good-working equipment as broken and needing replacement. False orders are made and the money is pocketed in the meantime.
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