By working with Chinese law enforcement, the company was eventually able to recover the funds, ABC News reported, but the perpetrator remains unknown. And Chinese police aren’t always so willing to cooperate, according to a recent report from the U.S. State Department. This particular scam has cost American companies more than $1.8 billion to Chinese scammers, according to the FBI.
How did Barbie-maker Mattel get conned out of $3 million?
Answer: the fake CEO scam
A Mattel finance executive wired $3 million to whom he believed was the company’s CEO, Christopher Sinclair, visiting China in an effort to revamp the brand in one of the company’s struggling markets.
By working with Chinese law enforcement, the company was eventually able to recover the funds, ABC News reported, but the perpetrator remains unknown. And Chinese police aren’t always so willing to cooperate, according to a recent report from the U.S. State Department. This particular scam has cost American companies more than $1.8 billion to Chinese scammers, according to the FBI.
By working with Chinese law enforcement, the company was eventually able to recover the funds, ABC News reported, but the perpetrator remains unknown. And Chinese police aren’t always so willing to cooperate, according to a recent report from the U.S. State Department. This particular scam has cost American companies more than $1.8 billion to Chinese scammers, according to the FBI.
