Janor Wire & Cable Corp. Not only substitutes product to their customer but they have falsified documentation regarding their assetts.
James McGarvey, the President of the company instructed his warehouse personnel to substitute 16 (1) bare copper with 15 (1) bare copper to Stonco, Inc. Technically speaking the substituted material would work for the customer's application, however they were never told about the product "switch".
Some of the wire and cable that this company has manufactured has bubbles and breaks in the jackets and many of their customers are returning wire and cable due to not meeting specifications. Mr. McGarvey and Maureen T. Deasy, the Controller have mismanaged funds so they can no longer afford to get product delivered to them. They spend their time searching for new vendors, rather than paying the vendors they have. They are not paying their bills and are purchasing product from the new vendors with no intentions of paying the invoice when it comes in.
Regarding the falsification of documents, the bank who holds the note on their line of credit is under the impression that Janor Wire & Cable has $274,000 in Inventory, when it's only actually worth $100,000 at the most. Some of the Inventory they claim to have is not physically there or has been given false monetary value to improve their financial statements.
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