Albert J. Meyer (accountant) explained

Albert J. Meyer was a forensic accountant and investor who is credited with uncovering fraud at the Foundation for New Era Philanthropy,^[1] one of the largest ponzi schemes in U.S. history, as well as notable accounting irregularities at several large public companies.^[2] Meyer died on February 3, 2022, from lung cancer.^[3]

Career

Meyer started his career as a forensic accountant and spent 15 years as an accounting professor, including five years at Spring Arbor University. After leaving academia, Meyer worked as an analyst at Martin Capital Management and at Dallas-based investment manager, David W. Tice & Assoc., Inc. In 2006, he founded Bastiat Capital, a money manager based in Plano, Texas.

Discoveries

Meyer investigated New Era while working as an accounting professor at Spring Arbor University in the mid-1990s. The college was an investor in the foundation.^[4] Subsequently, Meyer detected accounting irregularities at Tyco International in 1999,^[5] which ultimately led to the conviction and imprisonment of CEO Dennis Kozlowski. He also brought to light accounting issues at Coca-Cola^[6] and Enron.^[7]

Further reading

• Michelmore . Peter . March 1996 . On the Trail of a Scam . Reader's Digest . 110–115.
• April 1996 . One man, two crusades . Accountancy . 117 . Institute of Chartered Accountants in England and Wales . 0001-4664 . 20.
• News: Michelmore . Peter . September 27, 1998 . Maybe Pepsi Has a Job For a Dogged Coke Critic . The New York Times.
• Petersen . Melody . May 26, 2003 . When A Skeptic Says, 'Buy!' . Fortune.

Notes and References

1. Web site: Accountant blows lid off New Era.. https://web.archive.org/web/20181118180437/https://www.highbeam.com/doc/1G1-17294383.html/. dead. 2018-11-18.
2. News: Stecklow. Steve. A Big Charity Faces Questions About Its Financing From SEC. 25 October 2017. The Wall Street Journal. September 28, 1996.
3. Web site: A memorial to Albert Meyer. 3 March 2022.
4. News: Carton. Barbara. Accountant Found New Era's Problems. 25 October 2017. The Morning Call. May 21, 1995.
5. News: Maremont. Mark. Tyco Sleuth Has Long History Of Uncovering Bad Numbers. 25 October 2017. The Wall Street Journal. October 15, 1999.
6. News: Peterson. Melody. THE MARKETS: Market Place -- Putting Extra Fizz Into Profits; Critics Say Coca-Cola Dumps Debt on Spinoff. 25 October 2017. The New York Times. August 4, 1998.
7. News: Morgenson. Gretchen. Enriching a Few at the Expense of Many. 25 October 2017. The New York Times. April 9, 2011.