Fraud during business ownership transfer or sale.

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This case is interesting of a company director taking cheques from suppliers for the business,  after he had already sold the business. A fraud of £42k.

He admitted it saying that he did it to get money out of the firm before he sold it.
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The director of former good character co-operated with police and got a suspended sentence. Sellers remorse for not achieving a big enough price perhaps?

The change of business ownership presents many challenges and opportunities for fraud. Partly this is due to a resilence on dealing with the same people day after day.

People tend to follow the same process habitually, change needs to be planned, communicated, implemented and reviewed.