Thursday, July 28, 2016

Mattel Gets Scammed for $3Million in China

It was an easy three million, and if Mattel can fall for it, so can you.
Mattel's millions were swept up in a tide of dirty money that passes through China and that Western police are only beginning to understand. The scam the company fell victim to — known as the fake CEO or fake president scam — has cost companies, many of them American, more than $1.8 billion, according to the FBI. Most of the stolen money passes through banks in China or Hong Kong, the FBI said.
Read also Mattel's missteps in China, a dinosaur cannot dance.  I believe the "lead paint" recall point is wrong, but the point is, Mattel was once small, and small is where it is at now.  Mattel gets hurt when it fails, we fail fast, fail cheap and learn.

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