Undisclosed ownership change.(selected topic)(Fast Break Bicycles)

Publication: Business Credit

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COPYRIGHT 2004 National Association of Credit Management

While a change in business ownership does not necessarily mean that the business will be operated with fraudulent intentions, such new circumstances can be a warning sign of fraud. Unscrupulous new owners take advantage of the business good credit history to set a fraud in motion, particularly if they neglect to tell suppliers that they recently bought the firm.

Fast Break Bicycles, a retailer and repairer of bicycles, opened its doors in the early 1990s. Ten years later,...

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