State Farm Employee and McKinsey Insurance Consultant Accused of Fraud

Originally published by Chip Merlin.

Ed Rust must have muttered, “you’ve got to be kidding,” after learning that a McKinsey & Company consultant and State Farm employee were accused of siphoning about $900,000 in consulting fees and expenses.
Check out the funny line about this story in the Chicago Tribune story:

It’s a question many businesspeople have quietly asked themselves: Just what do consultants do for their money?

According to a federal indictment unsealed Monday, the answer for one former partner at McKinsey & Company’s Chicago office and his colleague at State Farm was “not much.”

McKinsey partner Navdeep Arora, 51, allegedly teamed up with former State Farm employee Matthew Sorensen, 49, to bilk McKinsey and State Farm out of nearly $500,000 in bogus consulting fees for work that was never done over an eight-year period beginning in 2004.

Arora received another $400,000 from McKinsey, State Farm and other McKinsey clients by making false expense claims for personal travel to…

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