In most small companies (such as Kallo)
management usually keep the chequebook under lock and key.
This WAS the case at Kallo.
I highly doubt 'junior accounting staff'; the company doesn't have enough money, sales, or complexity to justify more than one, possibly two, employees in accounting. It would be virtually impossible for this to happen.
Cecil was functionally acting as the central authority on all finances, but that would have changed during the time where they did have a CFO.
Generally, Teflon John does not allow things to stick to him.
And 'more important things'? rrrriiiiight. Sales maybe? ;)
And if the board has a majority of the shares, it becomes much easier to close off any 'investigation'. 'Investigation' is the word that outsiders will be looking at, and they know how to close doors at their convenience.
Fraud?
Yup.
No proof, but yup.
Market Data 
Markets 
AI
