Now under arrest, Democrat Kinde's company, Durkee and Associates, says on its website: “Since 1972 we have worked for 5 presidential campaigns, 4 gubernatorial campaigns, numerous senate, congressional, state and local candidates, initiatives, political action committees and many non-profit associates and small businesses.” (Excerpt) Read more at ocregister.com.
There's a zillion ways to scam using non-profits, PACS, and other campaign accounts.
1. Lack of internal control policies;
2. Difficulties in obtaining documentation;
3. Untimely account balance reconciliations;
4. Lack of compensating controls in: journal entries, bank reconciliations, cash disbursements, and utility billing revenues;
5. No consistent process of financial enties;
6. Excessive financial entries made to correct or adjust initial entries;
7. Bank reconciliations not correctly reconciled to general ledger.
Did Kinde use the Madoff MO to stash stolen money? Bernie's Ponzi assets were stashed in a super-secret labyrinth of interrelated international funds, institutions and financial entities of almost unparalleled complexity and breadth......with assets and businesses in multiple places overseas that hid thievery, money laundering and tax evasion.