BUSINESS EMAIL COMPROMISE FRAUD LOSS |
12 Months Ended |
|---|---|
Jun. 30, 2015 | |
| Extraordinary and Unusual Items [Abstract] | |
| BUSINESS EMAIL COMPROMISE FRAUD LOSS | BUSINESS EMAIL COMPROMISE FRAUD LOSS In June 2015, the Company determined that it was the victim of criminal fraud known to law enforcement authorities as business e-mail compromise fraud which involved employee impersonation and fraudulent requests targeting our finance department. The fraud resulted in transfers of funds aggregating $46.7 million held by a Company subsidiary incorporated in Hong Kong to other overseas accounts held by third parties. To date, the Company has recovered $8.1 million. As a result, the Company recorded a charge of $39.1 million in the fourth quarter of 2015, including additional expenses consisting of professional service fees associated with the fraud loss. An additional $6.8 million of the amounts transferred are currently subject to legal injunction and reasonably expected to be recovered by the Company in due course. The Company is continuing to pursue the recovery of the remaining $31.8 million and is cooperating with U.S. federal and numerous overseas law enforcement authorities who are actively pursuing a multi-agency criminal investigation. |