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Disney has been billions of inflation revenues



A Walt Disney Company accountant who claims the company exaggerated its revenue for years went to the Security and Exchange Commission to blow the whistle, according to a report in MarketWatch. Sandra Cuba – who has been with the company for 18 years and worked in the revenue management department – claimed that in the parks-and-resorts business, they exaggerated their revenues by billions. She said employees would do this by taking advantage of the weaknesses of Disney's accounting software, along with recording false earnings or exaggerating actual revenue amounts. Cuba estimated that the company's annual revenue for 2008-2009 could be exaggerated as much as $ 6 billion. She said she went to the SEC in 201

7 after trying to get it up internally. She was fired about a month after she approached the feds.

Cuba told the site that she has spoken and met with the SEC several times, including a discussion as late as last week. A Disney spokeswoman said Cuba's claims had been reviewed by the company and were "completely without merit." The SEC declined to comment.

Read it at MarketWatch


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