Empire State Building stolen by paper-pushers
December 5, 2008 by Shane BorerPosted in: "Would you want this person in Finance?", Auditing, In this week's e-newsletter, Latest news & views, Whistleblowers
Not double-checking your paperwork could cause more than errors — it might cost your company the building it’s in.
In what’s being touted as one of the biggest heists ever, the New York Daily News reportedly “stole” the Empire State Building after 90 minutes of paperwork. Reporters drew up fake documents, created a forged notary stamp and successfully took over ownership of the $2 billion landmark.
Performed as a demonstration that the city’s clerks aren’t spending enough time verifying information, the newspaper transferred ownership of the 102-story building from Empire State Land Associated to Nelots Properties, LCC (“nelots” is “stolen” spelled backwards).
As if that weren’t absurd enough, reporters also used bogus names on the new deed’s paperwork. Fay Wray, star of the original “King Kong” film, was listed as a witness, and the infamous robber Willie Sutton was listed as the notary.
A day after the fake deed was honored, the newspaper returned the building to its rightful owners.
Popularity: 4% [?]
Tags: Empire State, King Kong, Overpayment, Paperwork

