I'm a fraud, you're a fraud: the fables, follies, and foibles of a fraud fighter

330 Pages·2010·2.796 MB·English

by  Wells, Joseph T

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Additional Praise for
Fraud Fighter: My Fables and Foibles
Wells’ memoir is fantastic; the crime fi ghting is thrilling, but also the story of
Dr. Wells’ life and careers is an entertaining read as it vacillates between slightly
notorious to downright legendary. Although the book is primarily a story of the
motivations and achievements of one man, it has profound lessons for all—not
the least of which is that crime fi ghters have fun and win in the end.
Sherron Watkins, who helped uncover the Enron fraud
and is one of the trio of whistleblowers named
Time Magazine’s 2002 Persons of the Year
Fasten your seat belt and get set for a wild ride as you take an amazing trip through
the life adventures of Joseph Wells. This is a story that only he could tell. You will
laugh, cry, feel immense pride, suffer through disappointment, and perhaps even
engage in a bit of self-denial when you realize that the “fraudster” exists in each and
every one of us. When all is said and done, my hunch is that you will be more than
a little envious of Dr. Wells’ incredible life and accomplishments.
R. Frank Abel, Past President, Maryland Chapter of the
Association of Certifi ed Fraud Examiners
Wow. Just wow. It took an enormous amount of personal integrity for Dr. Wells to
put these words out there for us to see. And throughout it all, he kept his humor
and grace. Fraud Fighter is, at turns, instructive, funny, and vulnerable. We are
indebted to Wells for sharing so much of himself.
Janet M. McHard, President, McHard/Accounting/
Consulting/LLC
It takes a larger-than-life character to bust characters who would be larger than life.
Dr. Wells is one of the good guys, a character with character.
Mark Alimena, Partner, Financial Services, JH Cohn LLP
Will Rogers never met Ross Perot, yet Dr. Wells did. He also met Rudy Guliani
and many other famous people. Funny and poignant, Fraud Fighter is classic Wells.
Looking into himself, he fi nds a source of strength—he knows the window pro-
vided into his life will become a mirror, refl ecting into our own.
Joel T. Bartow, Director, Program Integrity, Express Scripts
What a great story of personal strife, tragedy, triumph, and love. I saw a lot of
myself in Joseph Wells and both liked and disliked what I saw. To me, his story is a
testament to the frailty of life and what perseverance and dedication can accomplish
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regardless of our beginnings. No one is perfect; we are all human and life is fi lled
with good and bad. But Dr. Wells’ “good” won out over the bad, and his leg-
acy will live on in one of his greatest gifts to society—the Association of Certifi ed
Fraud Examiners. A great read!
Cecil Brasher, Director of Auditing, Union Pacifi c Corporation
Being an educator and always looking for readings for my Principles of Fraud
Examination classroom, the chance to read Dr. Wells’ autobiography was an oppor-
tunity I simply couldn’t pass up. From the little I knew of the man, I sensed he had
led a colorful life. I had no idea the poverty he overcame—yet what he has accom-
plished! Fraud Fighter: My Fables and Foibles is at times hysterical, unsettling, gloomy,
shocking, and illuminating, and makes you a part of the investigative team. It will
now become one of my course requirements, as reading it is a great way to gain a
historical perspective of both the ACFE organization and its founder.
Linda G. Chase, Associate Professor, Baldwin Wallace College
A terrifi c read! Joseph Wells takes us on his remarkable and adventurous life journey
from childhood, the military, investigating fraud in the public and private sectors, to
the beginnings and growth of the Association of Certifi ed Fraud Examiners. It’s all
here, the good, the bad, and the ugly.
Ray Cosgrove, IBM Special Investigator (Retired)
After reading Joseph Wells’ book, I understood what a great personality he embodies. A
real man and devoted husband, an FBI agent, a musician, a perceptive entrepreneur who
appreciates people—not as employees but as human beings and friends—an anti-fraud
motivator and creator, an excellent educator and writer; and more. All this is Joseph T.
Wells. This book could be a great screenplay for a movie watched by millions.
Dr. Dimiter P. Dinev, Founder and Chairman, The
Association for Counteraction to Economic Fraud
As with many publications written by Joseph Wells, his autobiography, Fraud Fighter,
is entertaining but also a learning experience. He details many of his attributes in his
story for many to recognize as necessary for their own success as fraud examiners:
ambition, foresight, compassion, and dedication to the fi ght against fraud.
George P. Farragher, Managing Director, Forensic
Financial Services, BBP Partners, LLP
Joseph Wells is known for his entertaining and enlightening writing and presenta-
tions. Now, through his autobiography, he continues to instruct us with compelling
and poignant anecdotes of his own life experiences. His revelations teach us it is not
where you begin life’s journey, but how you fi nish.
Elvis B. Foster, President, Elvis B. Foster, PC
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Joseph Wells can be compared to Aldous Huxley as a leader of modern thought, an
intellectual who explores visual communications and sight related theories—but on
a different work platform: fraud fi ghting. As Huxley once said: “Facts do not cease
to exist just because they are ignored.” It will be impossible for the reader to ignore
the facts in Dr. Wells’ fascinating life.
Jerome R. Gardner, Dallas County Fraud Auditor
A magnifi cent journey of a great man’s quest for meaning, the history of his humble
beginnings and his tumultuous history. Joseph Wells exposes his childhood, human
failings, and professional accomplishments, including his creation of the ACFE—a
gift to all who fi ght white-collar crime.
Grace B. Ghezzi, Vice President, Benefi t Consulting Group, Inc.
Dr. Wells’ autobiography should be an inspiration to all of us that an individual—
any individual—can rise above personal adversity and make a real difference in this
world. Fraud Fighter: My Fables and Foibles exposes Wells’ human side in a way that
resonates with the reader. This book is not just for anti-fraud professionals; it is a
must read for anyone!
Michael D. Hansen, Internal Audit Manager, Public Employees
Retirement Association of New Mexico
I idolize Dr. Wells for his work and contribution to the anti-fraud profession. Fraud
Fighter is a brave undertaking, not only full of fraud fi ghting adventures but fi lled
with human mistakes and failures which make the book all the more interesting.
These did not change my opinion of this man; the admiration continues to grow.
I thank him for sharing his story.
Beth Jaballas, Supervising Auditor, California State
Compensation Insurance Fund
When I was editor-in-chief of the Journal of Accountancy, Dr. Wells was our readers’
favorite author; he is a natural-born storyteller. Whether talking about himself, his
FBI days, or his fraud cases, he will make you blush, sneer, smile, or even laugh out
loud. You wouldn’t expect less from a man whose life story could be Matt Damon’s
next blockbuster movie.
Colleen Katz, Editor-in-Chief (retired), Journal of Accountancy
It takes incredible bravery to put your complete life story in black and white for others
to read. It takes enormous talent to write that story in your own words and make
it compelling. Dr. Wells has both, as readers of his autobiography will undoubtedly
agree. The tale of how he became one of the world’s foremost anti-fraud experts is
full of unexpected twists and turns that you just have to read for yourself.
Melissa Klein Aguilar, business journalist
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The innumerable quotes, quips, case histories—even the occasional song lyrics—
provide an enjoyable read by a fantastic writer into the life and accomplishments
of an expectedly complex (and unexpectedly humble) Joseph T. Wells.
George Kyriakodis, Business Tax Offi cer, Upper Moreland Township
Dr. Wells is the most prolifi c author in the anti-fraud profession, and by reading this
book, you’ll also learn that he is the best, by far. This awe-inspiring autobiography
includes incredible tales that take the reader through a full range of emotions that
will not only teach you about Wells but about life. Reading Fraud Fighter kept me
up all night!
Richard White, Adjunct Professor, Utica College
This story is a true and authentic look at the life of one of the great fraud fi ghters.
It is a rare glimpse deep into the mind of the man who created the largest anti-fraud
association in the world, how he did it, and why. But it is more. Dr. Wells candidly
discusses his own demons and how he fought them, and won.
Tracy L. Coenen, Forensic Accountant, Sequence Inc. Forensic Accounting
Dr. Wells’ autobiography provides a unique insight into the life and experiences that
shaped the man who revolutionized the anti-fraud profession. His upbringing and
struggles are not unique. However, what is different is his uncanny way of dealing
with adversity and the ability to take advantage of those opportunities presented
to him. After reading the book, there will be no doubt in your mind that Wells is
a memorable character who was surely put on this earth to do exactly what he
is doing: fi ghting fraud.
Bert F. Lacativo, Partner, Forensic Services,
PricewaterhouseCoopers LLP

This man is a master storyteller. Reading his book is like sitting with a friend over
drinks. Dr. Wells may have had more to do with preventing fraud and catching
fraudsters than anyone in history—and on top of that, he has had a wonderfully
colorful life.
Kenneth C. McCrory, Principal and Founder, McCrory & McDowell LLC
This is not your normal rags-to-riches story. Dr. Wells gives open and honest
insight into how it really does take one to know one. And once he unleashed the
“fraudster” within him, the world of fraud prevention and detection was at his feet.
This is an amazing tale that has it all—sex, drugs, rock & roll, and fraud!
David W. Nicastro, SVP Business Development, GlobalOptions, Inc.
Reading Fraud Fighter is a journey inside the head of a fascinating man. Dr. Wells has
done a lot with his life, and is an inspiration to us. He allows us to see the duality
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that is inside everyone—some good and some bad—but in his case, always striving
for goodness. The generosity that has always been his hallmark is played out in this
literary gift. Few would have the courage to share as he has.
Marilyn B. Peterson, U.S. Government Agency
In this book, Dr. Wells makes no attempt to justify or rationalize what he may have
done wrong; after all, he’s human. His story is one of a man who rose above his
environment and fl aws by harnessing the energy of his passion in pursuit of his vision to
leave this world a better place. Few men ever achieve their noblest dreams as Wells has.
James C. Sell, James C. Sell, PC
This is the colorful life story of the colorful character who founded the world’s
largest anti-fraud organization; chock full of entertaining war stories from a lifetime
of slaying fraud and his own personal dragons. Only Joseph Wells could have created
this intoxicating brew of sex, drugs, rock & roll, and, yes, accounting! Take a sip
and you, too, will be addicted.
Michael S. Spindler, Executive Director, Litigation & Forensics,
Capstone Advisory Group, LLC
As anti-fraud professionals, it is easy to fall into a trap of believing we are better
people than the lying cheats we investigate. What Dr. Wells’ story does, with all his
unapologetic self-revelation, is help us understand that we are not superior. We’re
just people, fraudulent and fl awed. The difference is somewhere along the line we
made better choices and somehow managed to associate ourselves with individuals
of character and vision.
Kevin Sisemore, Internal Audit Manager, University of Colorado
An inspiring refl ection on the paths one travels through life and how destiny
can ultimately triumph—provided one knows the importance of fraud and how
it can both positively and negatively alter one’s course in life. This book is a
profound portrayal of how decisions control successes and destiny. A must-read for
anyone who ever thought one’s past dictates one’s future.
Peter E. Tobin, LTC U.S Army (Retired) and Audit Manager
(Chief Audit Executive), Perkins Coie LLP
Joseph Wells’ refl ections show us all that we are human. Reality is stranger than
fi ction in his hilarious account of an exciting life. The little frauds we commit each
day are a faint echo of the headlines we read today. Accomplishments are measured
by the individual, but readers can share vicariously in Wells’ successes.
Robert M. Torok, Managing Director, RSM McGladrey
Dr. Wells’ vision led to the birth of a new profession at precisely the time it was most
needed. While it is easy to laud such an accomplished man, Wells’ book allows the
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reader to step inside. With candor and contriteness he opens his heart, showing not
only the accomplishments and accolades, but errors, misgivings, and personal failings
that make him human. By letting us see him, warts and all, Wells stands taller. By
showing us his own path through the desert, he encourages us all to fi nd our way.
Jonathan E. Turner, Managing Director, Wilson & Turner, Inc.
A racy, riveting read about the life of a man whom many consider the father of
the modern-day fraud investigator. Dr. Wells had to write this book; anyone in the
fi eld of fraud prevention has to read it.
John Fisher Weber, District Attorney Investigator
Fraud investigators have become the last line of defense for the common man, as
each day the newspapers scream and the Internet buzzes about another criminal
enterprise that would make John Dillinger proud. Joseph Wells pioneered this new
breed of superhero, and his honesty and humble frankness about his upbringing
make him all the more compelling as the hero of this tale. Anyone who ever wished
they could be a fl y on the wall while some of the most ambitious criminal schemes
in the history of mankind were created, uncovered, and eventually blown up will
fi nd this book very hard to put down.
Lori A. Wigler, Partner, Mellen, Smith & Pivoz, PLC
Joseph Wells is one of the pivotal leaders of the anti-fraud movement throughout
the world. Fraud Fighter: My Fables and Foibles is insightful, energetic, and full of
real-life personal nuggets that show his passion and dedication in creating and
nurturing the premier anti-fraud organization.
Ron Hagenbaugh, Ronald L. Hagenbaugh, CPA
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Fraud Fighter
My Fables and Foibles
Joseph T. Wells
John Wiley & Sons, Inc.
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Copyright © 2011 by Joseph T. Wells. All rights reserved.
Published by John Wiley & Sons, Inc., Hoboken, New Jersey.
Published simultaneously in Canada.
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Library of Congress Cataloging-in-Publication Data
Wells, Joseph T.
Fraud fi ghter: my fables and foibles / Joseph T. Wells.
p. cm.
Includes index.
ISBN 978-0-470-61070-1 (hardback); ISBN 978-0-470-63675-6 (ebk);
ISBN 978-0-470-63676-3 (ebk); ISBN 978-0-470-63677-0 (ebk)
1. Fraud—United States—Case studies. 2. Fraud investigation—United States—
Case studies. 3. Wells, Joseph T. 4. Auditors—United States—Biography. I. Title.
HV6695.W43 2011
363.25'963092—dc22 [B]
2011007558
Printed in the United States of America.
10 9 8 7 6 5 4 3 2 1
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