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CPA Fraud Paid for Exotic Dancers

 An 81-year-old Florida CPA has been sentenced to 10 years for prison after pleading guilty to embezzling millions. Richard Aboud used some of the millions looted from a trust to pay thousands to two exotic dancers.

Aboud, who worked as a tax preparer, has also been ordered to pay $2.7 million in restitution. He withdrew between $3 million and $4 million from the trust over ten years, depositing a portion in shell companies in his name.

He transferred about $2.5 million to his company Bakken Systems, supposedly using the money to invest in water “cleaning" machine.

He also spent some of the funds to pay living expenses of others, including the two dancers, reportedly spend more than $82,000 on one over 11 months. After that relationship ended, he said she blackmailed him not to tell his wife.

Bob Scott
Bob Scott has provided information to the tax and accounting community since 1991, first as technology editor of Accounting Today, and from 1997 through 2009 as editor of its sister publication, Accounting Technology. He is known throughout the industry for his depth of knowledge and for his high journalistic standards.  Scott has made frequent appearances as a speaker, moderator and panelist and events serving tax and accounting professionals. He  has a strong background in computer journalism as an editor with two former trade publications, Computer+Software News and MIS Week and spent several years with weekly and daily newspapers in Morris County New Jersey prior to that.  A graduate of Indiana University with a degree in journalism, Bob is a native of Madison, Ind
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