Episode 87
The Dead Bodies on the Balance Sheet: Where Fraud and Missing Millions Hide
The biggest financial threat to your company may not come from competitors or the market but from the trusted people inside your business quietly draining value through fraud and unseen financial leaks.
Maartje van Krieken sits down with CFO and M&A advisor Holli Moeini to unpack the hidden problem of business fraud and the “missing millions” that quietly disappear inside organizations. Many leaders track competitors and market trends. Fewer question the financial story unfolding inside their own company.
These issues often surface during mergers and acquisitions, when deeper scrutiny begins. Financial due diligence forces buyers to examine patterns across financial statements, and that process often reveals irregularities that have gone unnoticed for years. Balance sheets tell stories that income statements can hide.
The conversation also highlights the cultural side of fraud detection. Someone inside the organization often notices something first. An expense pattern feels off. A colleague’s behavior raises questions. Does your culture encourage people to speak up when something seems wrong? The takeaway for leaders is simple. Know your numbers. Review financial patterns with curiosity. Invite outside expertise before a transaction forces scrutiny.
If business fraud touches most companies at some point, how quickly would your organization detect it?
Episode Breakdown:
00:00 Internal Business Fraud: The Hidden Threat Draining Companies
01:50 The “Missing Millions” Problem in Mergers and Acquisitions
05:49 How Leaders Can Detect Fraud in Financial Statements
10:37 Why CPAs and Audits Often Miss Internal Fraud
15:40 Creating a Culture Where Employees Speak Up About Fraud
22:05 Financial Due Diligence for Buyers in Mergers and Acquisitions
27:05 How Leaders Can Protect Their Business From Fraud
Connect with Holli Moeini:
Connect with Holli on LinkedIn
Holli Moeini is a trusted CFO, M&A advisor, and strategic architect for business owners who want more than just an exit — they want a legacy. With over 30 years as a CPA and executive leader, she transforms financial complexity into clarity and turns numbers into strategy. Holli is also the author of the book “Finding the Missing Millions in M&A”
Connect with Maartje van Krieken:
Connect with Maartje on LinkedIn
Visit The Chaos Games Consulting website
Visit The Business Emergency Room website
Subscribe to The Business Emergency Room on YouTube
Subscribe to Maartje’s Substack
Host Maartje van Krieken is a crisis strategist and decision-making expert who thrives in high-stakes business environments. Combining disaster management training, hands-on experience in global industries, and leadership skills honed as a seasoned sailor, she helps businesses navigate chaos with precision. Whether tackling transformation, scaling challenges, or leadership bottlenecks, Maartje delivers actionable insights to turn turbulence into traction.
Podcast production and show notes provided by HiveCast.fm
