Written by Douglas M. Boyle, CMA, CPA, James F. Boyle, CPA, and Daniel P. Mahoney, CPA, CFE, “Avoiding the Fraud Mind-Set” outlines the following learning objectives that address the rationalization element of the fraud triangle: develop an ability to recognize your own human tendency toward rationalization, understand that fraudsters are “real people”, realize the psychological cost of “getting away ...
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...lose personally with Jeffrey Skilling, Enron’s CEO at the time. Upon Enron’s eventual bankruptcy, Skilling noted that Baxter was heartbroken by what had happened to Enron and all of the employees who lost their jobs and life savings. He was sued personally and former employees along with the media publicly slandered his name. Knowing his role in the fraud, Baxter could not take it anymore. Seven months after his resignation from Enron, Baxter was found dead in his Mercedes because of a self-inflicted gunshot wound to his head. He left behind a suicide note to his wife reading:
I am so sorry for this. I feel I just can 't go on. I have always tried to do the right thing but where there was once great pride now it 's gone. I love you and the children so much. I just can 't be any good to you or myself. The pain is overwhelming.
Please try to forgive me.
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