Careful with your corporate card.
A former Goldman Sachs executive assistant, Kristen Jacques, was fired and fined for using her Goldman Sachs corporate credit card for personal expenses and signing her manager’s name on the report, according to a new FINRA filing cited by Forbes’ Bill Singer, who was the first to find the complaint.
Filing false expense reports is against one of the rules that employees of broker dealers, like Jacques at Goldman Sachs, have to follow in order to register with FINRA, a self-regulatory body that polices banks and other Wall Street firms. (Specifically, it’s against FINRA Rule 2010.)
FINRA took issue with her falsifying an expense report. Goldman fired her for “using a Firm-issued credit card for personal expenses and signing her manager’s name on forms related to those expenses,” according to the filing.
But what’s strange is that while Jacques clearly disclosed that her expenses were personal — and she reimbursed Goldman for each expense (there were 13 from April 2009 until July 2010) — she forged her boss’s signature on the expense reports, according to the filing, known as an Acceptance, Waiver, and Consent form (“AWC”).
Why bother forging his or her signature if she paid for the charges?
Who knows. Maybe it’s because assistants are usually in charge of filing their bosses expense reports for them, so she figured it was OK. It couldn’t have been that serious – or Morgan Stanley wouldn’t have hired her for the same job, which they did in September 2010 –>
In any case, the proceeding against her is a good heads up for anyone with a Goldman corporate card.
Those things cause all sorts of trouble. Speaking of which, remember when a Goldman employee lost his, Stephen Colbert found it, and tried to blackmail the owner?
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