On Sat, Oct 24, 2015 at 2:36 PM, Tom Gardner <t.gard...@computer.org> wrote: > The MiniScribe brick story is told at: > http://chmhdd.wikifoundry.com/page/MiniScribe+files+bancruptcy > > The apocryphal tale is that when the Maxtor President visited his then > recently acquired MiniScribe facilities he was shown buildings 1,2, 3, and > 5. When asked what happened to building 4 he was told, "we shipped it brick > by brick."
The actual story is almost as good. Employees broke into the auditor's files and changed the numbers in an attempt to conceal the "inventory hole". Miniscribe CFO Patrick J. Schleibaum was convicted based in part on an invoice showing that the bricks were purchased from Colorado Brick Company. Quentin T. Wiles, the chairman and CEO (and "turnaround specialist"), was also convicted and spent 2 1/2 years in the Big House. http://www.justice.gov/sites/default/files/osg/briefs/1996/01/01/w961430w.txt http://openjurist.org/102/f3d/1043/united-states-v-t-wiles https://www.sec.gov/about/annual_report/1991.pdf http://articles.latimes.com/1994-07-12/business/fi-14736_1_sherman-oaks http://www.sbrower.com/Steven%20Brower%20-%20Recent%20Developments%20In%20Computer%20Performance%20Litigation.htm One possible lesson to be learned: always pay cash when buying materials for inventory fraud.
