HIGH FINANCE: The Card Shark

With the rise of computer punch-card accounting and the decline of the clerk's pen-entry ledger, company comptrollers have relaxed in a new atmosphere of mechanical morality. They have been confident that neither false entry nor ink eradicator could juggle the electronic accounts. But last week, Walston & Co., one of Wall Street's largest brokerage firms, found that the computer is no more honest than the hand that feeds it. In eight years, Walston Vice President and Computer Specialist Frank B. Haderer, 50, had stolen more than $260,000 from the electronic till, to become the first known big-league electronic embezzler.

Haderer...

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