Driving through and stopped to pick up a couple of fruitcakes on … Someone who knows the business should be looking at vendors, and wondering why they are getting paid so much. I am the quality control partner for our CPA firm where I provide daily audit and accounting assistance to over 65 CPAs. Here’s a peek of what’s inside: Crunchy pecans Hand-picked pineapple Ripe cherries There aren't enough food, service, value or atmosphere ratings for Collin St. Bakery, Texas yet. Medium Texas Blonde Pecan Cake 1.3kg Collin Street Bakery. Will Ferrell And Julianne Moore To Star In Movie About Corsicana’s Collin Street Bakery . But did it? For the last thirty years, he has primarily audited governments, nonprofits, and small businesses. Thanks for joining me. David, good question. Code. Jenkins was stealing from the Collin Street Bakery for eight years before he finally got caught, and all the while he was exhibiting another big warning sign. The scandal was featured on season 11 of CNBC’s “American Greed.” In the end, ... Photo credit (Collin Bakery): Collin Street Bakery Facebook Photo credit (Collin fruitcake): Collin Street Bakery Facebook. Alternatively, provide online access to the reviewing person. Did they not notice (foolish me) that voided checks were clearing and outstanding checks for the same amount were still outstanding? (He still had the printed check.) We hope to see you again soon! Will Ferrell and Julianne Moore, the stars of the film, were set to film on-site in Corsicana this past spring but will have to wait to begin filming until the producers deem it safe. Kay Jenkins was further ordered to complete 100 hours of community service and to submit a formal apology in writing to the Bakery. Usually, in these types of cases, the fraudster is taking money over a period of time, so the effect is less pronounced. Show Coupon Code. Website +1 903-939-0602. No one was comparing the cleared check payees to the general ledger. Then, he would generate a second check for the same amount to a legitimate vendor, but the second check was never mailed. Judge Kinkeade sentenced Kay Jenkins to five years’ probation. Santa came to Collin Street because of our world-famous fruitcake, but his cookie cravings got the best of him. He took over $16 million, so, $11 million on a Black American Express card, 532 luxury items, including 41 bracelets, 15 pairs of cufflinks, 21 pairs of earrings, 16 furs, 61 handbags, 45 necklaces, 9 sets of pearls, 55 rings, and 98 watches (having an approximate value of $3.5 million), Wine collection (having an approximate value of $50,000), Steinway electronic piano (having a value of $58,500), 223 trips on private jets (primarily Santa Fe, New Mexico; Aspen, Colorado; and Napa, California, among other places), with a total cost that exceeded $3.3 million, 38 vehicles, including many Lexus automobiles, a Mercedes Benz, a Bentley, and a Porsche. He is the author of The Little Book of Local Government Fraud Prevention and Preparation of Financial Statements & Compilation Engagements. (You can unsubscribe at any time.). Collin Street Bakery was known for making ”the Cadillac of fruitcakes” and was owned by one of the wealthiest families in Corsicana. Write a Review. A movie about the scandal starring Will Ferrell and Laura Dern is in production. Ms. Jenkins was sentenced to five years of probation. The film is titled Fruitcake. Movie Planned About Collin Street Bakery Scandal (Corsicana, TX) — A new Hollywood movie is in the planning stages that will be based on the embezzlement scandal at Corsicana’s Collin Street Bakery. I am the author of The Little Book of Local Government Fraud Prevention, Preparation of Financial Statements & Compilation Engagements. 10% Off Your First Purchase For New Customers. 10%. Enhance this page - Upload photos! The basic steps that Jenkins used to secure the funds in his own name were as follows. You may be familiar with the movie Catch Me If You Can which chronicled the exploits of Frank Abagnale, one of the most brilliant cons of all time. Betty, I so examined cleared checks, but, yes, I can’t see the back of the checks, though, on occasion, I have requested the backs of checks. Despite fruitcake's bad rep, I couldn't actually say why or even if I hated it. The Collin Street Bakery Scandal. 94. What about check 21? | Called Fruitcake, it's based on the true story of Sandy and Kay Jenkins, who embezzled more than $17 million from world-famous fruitcake company Collin Street Bakery in Corsicana. Get FBI email alerts Success! Or was Jenkins also reconciling the bank accounts. According to documents filed in the case and evidence proffered at the sentencing hearing, beginning at least as early as December 2004, and continuing until his termination from the Bakery, Sandy Jenkins engaged in a massive scheme to defraud the Bakery. Categories Log in Join for free. $16 million was stolen from a bakery. Next, Jenkins would send the first check to his credit card company. Jenkins was promoted to the controller in 2004 when he earned approximately $50,000 per year. Food and ambience. Rachel Taylor is a staff writer at Southern Kitchen. Jenkins was promoted to the controller in 2004 when he earned approximately $50,000 per year. Read my full bio…. Mr. Jenkins was reconciling the bank accounts himself and had made up stories to tell his staff about missing checks (the “voided checks”). I agree that “looking at vendors, and wondering why they are getting paid so much” is a good step. Charles is the quality control partner for McNair, McLemore, Middlebrooks & Co. where he provides daily audit and accounting assistance to over 65 CPAs. The money was taken over a long period of time. In March 2019, Sandy Jenkins passed away in a federal prison. In 1998, Collin Street Bakery hired a bookkeeper, Sandy Jenkins. Temporarily out of stock. Only the front, no back of the check for signature comparison or account numbers. You might think that stealing $16 million would require an elaborate scheme. Share on Twitter Twitter A movie about the crime, starring Will Ferrell, was in development, although its current status is unknown. Lastly, when segregation of duties is not possible, have the bank statements mailed to someone outside the accounting department such as an owner. That includes the following: (a) four vehicles, including a 2005 Lexus SC, a 2010 Mercedes Benz CL550, a 2013 GMC Yukon Denali, and a 2013 BMW X53 (having an approximate value of $150,000); (b) 532 luxury items, including 41 bracelets, 15 pairs of cufflinks, 21 pairs of earrings, 16 furs, 61 handbags, 45 necklaces, 9 sets of pearls, 55 rings, and 98 watches (having an approximate value of $3.5 million); $580,754.90 in cash; a wine collection (having an approximate value of $50,000.00); and a Steinway electronic piano (having a value of $58,500.00). A movie about the scandal starring Will Ferrell and Laura Dern is in production. … No Thanks Fall River (Images of America (Arcadia Publishing)) by Rob Lewis | 1 Jul 2003. Without seeing the payee on the cleared check, this type of fraud is always a possibility. Since Collin Street Bakery is a family owned business in a small-ish town, everyone trusted everyone. (KLTV) - A former bookkeeper for Collin Street Bakery was sentenced to 10 years in prison Wednesday for embezzling more than $16 million from the company to fund an extravagant lifestyle. During that time, he embezzled more than $16 million from the Bakery, and he and his wife, Kay Jenkins, used that money to bank-roll a lavish lifestyle. "We were blindsided," a bakery partner, Hayden Crawford, told the Associated Press in … Be one of the first to write a review! 4.2 out of 5 stars 8. Alternatively, the business could periodically sample the cleared checks, comparing the cleared checks to the vendor payments in the general ledger. There's a movie in the works about a scandal at a beloved Texas fruitcake company, set to star Will Ferrell and Julianne Moore. Collins Street is a major street in the centre of Melbourne, Victoria, Australia.It was laid out in the first survey of Melbourne, the original 1837 Hoddle Grid, and soon became the most desired address in the city. The government further established at sentencing that the Jenkins spent over $11 million on a Black American Express card alone—roughly $98,000 per month over the course of the scheme—for a couple that had a legitimate income, through the Bakery, of approximately $50,000 per year. Here at the Bakery, we are nuts about pecans. About us Founded in 1896, our family-owned bakery offers a delicious array of quality baked goods. Email Email. I fully agree. Paperback £16.94 £ 16. DALLAS—Sandy Jenkins, a former executive at the Collin Street Bakery (“the Bakery”) in Corsicana, Texas, and his wife, Kay Jenkins, were sentenced today on felony convictions stemming from Sandy Jenkins’s embezzlement of approximately $16 million from the Bakery, announced U.S. Attorney John Parker of the Northern District of Texas. He took over $16 million, so says the FBI. In addition, I consult with other CPA firms, assisting them with auditing and accounting issues. You'll also receive my periodic newsletter. Family Owned & Operated . 9 Collin Street Bakery coupons now on RetailMeNot. Former employee Sandy Jenkins was found to have stolen nearly 17-million-dollars from the bakery in 2013. https://www.fbi.gov/contact-us/field-offices/dallas/news/press-releases/former-collin-street-bakery-executive-and-wife-sentenced, Preparation of Financial Statements & Compilation Engagements. By 2000 he had been promoted to controller. 50 (£39.32/kg) FREE Delivery. The film is titled Fruitcake. I think of Rita Crundell who stole $53 million from a small city; she did so over a 20 year period. We've Been Featured In. Additionally, someone should be reviewing the profit margins of the company, comparing the ratios with prior periods. SooSooSees. This is a fruit cake that is just like Collin Street Bakery. Making the world a better place, one fruitcake at a time… Our family-owned-and-operated bakery, located just 50 miles south of Dallas, Texas, has been baking the World Famous Deluxe® Fruitcake since 1896! The government also showed at sentencing that the Jenkins purchased 38 vehicles over the course of the scheme, including many Lexus automobiles, a Mercedes Benz, a Bentley, and a Porsche. Please log in again. Still baked true to the original recipe, our Fruitcakes and Pecan Cakes have reached international acclaim. You'll receive my free 10-day course with examples of frauds and how to prevent them in your organization. FREE Delivery by Amazon. The articles I read about this theft did not disclose who was reconciling the account, but I got the impression Jenkins was reconciling. Sandy Jenkins was sentenced in federal court in Dallas Wednesday after pleading guilty in 2014 to charges connected with the embezzlement of nearly $17 … The FBI article (https://www.fbi.gov/contact-us/field-offices/dallas/news/press-releases/former-collin-street-bakery-executive-and-wife-sentenced) says Mr. Jenkins become the controller in 1998. A Quick Fruitcake Stop. It would have to show up as a big distortion in the overall numbers or ratios and just a few simple analytics by a CFO or the Auditor should have got the alarm bells ringing. You can’t rely solely on the bank reconciliation process to catch this kind of thing. Now, it appears there will be a new movie about another: Sandy Jenkins. A Collin Street Bakery fruitcake is displayed, with a chunk already gone. I had the same thought in reference to her fraud. My sweet spot is governmental and nonprofit fraud prevention. Baked In Texas Since 1896; Shop Our Online Products. Sandy Jenkins was sentenced by U.S. District Judge Ed Kinkeade to serve a total of 120 months in federal prison. Kay Jenkins, 64, of Corsicana, pleaded guilty in May 2015 to one count of conspiracy to commit money laundering. Save with 9 Collin Street Bakery Offers. The login page will open in a new tab. Reviews (8) Filter reviews . COLLIN STREET BAKERY. Added by BRhapsody. OFF. Some businesses have hundreds (or even thousands of checks) clearing monthly. DALLAS—Sandy Jenkins, a former executive at the Collin Street Bakery (“the Bakery”) in Corsicana, Texas, and his wife, Kay Jenkins, were sentenced today … He and his wife were contributing members of the community and had raised a daughter. Mr. Jenkins also had stories about inheriting money so that explained how he went from living modestly to a higher standard of living. And what did Mr. Jenkins do with the money? Someone other than those who create checks should reconcile the bank statements to the general ledger. In search of answers, I did not fool around. I'd like to receive the free email course. After the Bakery discovered the fraud, he was terminated on June 21, 2013. It does not have ginger or the other fruit that has a weird taste (I cannot remember the name). Thanks for the comment. Home; Locations. Bello Bcr8tve, Thank you for taking the time to share this detailed review! Sandy Jenkins, 66, served as the Corporate Controller for the Bakery from February 1998 to June 21, 2013. The movie's plot centers around accountant Sandy Jenkins, portrayed by Ferrell, and his wife, Kay (Dern), who embezzled more than $17 million from the Collin Street Bakery. Call ahead for to-go or curbside pick-up. Doing so creates the camera effect. When people know their actions (in this case, the creation of checks) will be examined, they act differently–they are much less likely to steal. Improve this listing. As a result of the turnover of property, the Court ordered restitution jointly and severally for Sandy and Kay Jenkins in the amount of $12,697,921.79 to be paid to the Bakery. The evidence at sentencing also established that a significant portion of stolen funds (approximately $1.2 million) were spent at Neiman Marcus at Northpark in Dallas where Sandy Jenkins and Kay Jenkins had nicknames, “Fruitcake” and “Cupcake,” respectively. Mel Bakery Opens With Heirloom Grains and Fresh-Milled Flour The new bakery from bread master Nora Allen opens this weekend on the Lower East Side. This was discovered when an employee decided to reconcile the bank account while Mr. Jenkins was out-of-town. If you desire a preventive control, require a second-person review of canceled checks. FBI.gov is an official site of the U.S. government, U.S. Department of Justice, emailStay Connected Downtown Corsicana; Corsicana South I-45 ; Lindale I-20; Waco I-35; Menu; About; Gallery; Blog; Contact; We’re open, come visit us! Will Ferrell and Laura Dern are set to star in a new Hollywood movie based on noted Corsicana sweets shop Collin Street Bakery and the scandal that consumed it … The persons creating checks should know that this test work will be performed. Each DeLuxe® Fruitcake contains 27% pecans, shelled right here in Corsicana, Texas and is packed full of fruits like our hand-picked pineapple, grown in Collin Street Bakery’s very own Costa Rican farms. Statistics. Reviewed 10 August 2020 via mobile . Asset Misappropriation. and The Why and How of Auditing, and I frequently speak at continuing education events. Other options New and used from £13.96. The government introduced evidence at sentencing identifying the 223 trips on private jets as well as the locations (primarily Santa Fe, New Mexico; Aspen, Colorado; and Napa, California, among other places), with a total cost that exceeded $3.3 million. In 1998, Collin Street Bakery hired a bookkeeper, Sandy Jenkins. Location and contact. Today I show you how large sums of money can be taken from a small business with one simple fraud scheme. And what did Mr. Jenkins do with the money? View our menu. Sandy had always admired the finer things in life but struggled to obtain them on his $50,000 salary. But many residents remain befuddled by the case of Sandy Jenkins, the bakery’s $50,000-a-year corporate controller, who sits in a Dallas detention center charged with … Skip to content. £53.50 £ 53. Collin Street Bakery Fraud and Movie. For the last thirty years, I have primarily audited governments, nonprofits, and small businesses. ×. By Rachel Sugar field notes 9/3/2020 at 10:14 a.m. Bank Recs are always an easy recommendation, but there are other indicators to look at. Sandy Jenkins, the controller of Collin Street Bakery in Corsicana, Texas, made off with more than just fruitcakes. Shop Now. Through the efforts of law enforcement in this case, the government recovered approximately $4,000,000 in property and cash that will be turned over to the Bakery as partial restitution for the losses suffered in this case.
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