Tag: fraud

Steer Clear of this Out of Home Fraud

The Philippine Securities and Exchange commission has issued a warning that a fraudulent company named Clear Channel Outdoor Asia Corp is attempting to solicit investments even though it is not related to or affiliated with Clear Channel Outdoor Holdings, the public US based out of home company.  The real Clear […]

Watch Your Bank Account!

Here’s a story which illustrates why you or someone you trust needs to look at your out of home company’s bank balances every day.  Billboard Insider talked with an out of home company owner who had a rent dispute with a landlord.  One day the billboard company owner happened to […]

Henson Sentenced to 8 Years

Jeffery T. Henson, also known as Matthew Burns, who used a stolen identity to get a job as comptroller of Watchfire Signs has been sentenced to 8.5 years of prison followed by 3 years of supervised release for wire fraud, identity theft and money laundering.  He has also been ordered […]

More on OOH Employee Fraud

Billboard Insider wrote a post last week discussing how to protect your out of home company from employee fraud.  Readers of that post called our attention to some new employee frauds. An employee, who paid an out of home company’s power bills, slipped her personal power bills into the bundle […]

Avoiding Fraud

Clear Channel Outdoor took a $10 million charge during the fourth quarter of 2017 for accounting fraud in the company’s China subsidiary.  Some employees opened fake accounts in the company’s name and deposited advertising funds into those accounts. This game can be played with payables as well.  Insider remembers a […]

Clear Channel organic revenues and cashflow decline.

Here are the highlights from Clear Channel Outdoor’s 4th quarter earnings call,  press release and earnings presentation. Consolidated revenue increased 1% to $729 million during the fourth quarter of 2017.    Organic revenue, adjusted for asset sales and currency fluctuations declined by 0.3%  Americas revenue (North and Latin America) declined […]