This course examines the rise and collapse of First Brands Group to explore fraud risks embedded in modern private credit and nontraditional lending markets. Through a detailed case study, participants will analyze how aggressive leverage, complex financing structures, and weak internal controls contributed to a multibillion-dollar failure. The course highlights key issues such as receivables factoring fraud, off-balance-sheet financing, and the limitations of due diligence in opaque financial environments. Participants will gain practical insights into identifying red flags, evaluating financial structures, and understanding how systemic risk can develop within evolving credit markets. Recorded November 2025.
Learning Objectives
• Build awareness of real-world frauds.
• Recognize the factors that allowed the fraud to occur.
• Evaluate warning signs and apply critical thinking to identify potential fraud risks.
Major Topics
• Fraud
• Internal controls
• Auditing
• Ethical issues
• Advanced accounting issues
• Risk management
