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BUSINESS EMAIL COMPROMISE FRAUD LOSS | 9 Months Ended
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Mar. 31, 2017
Unusual or Infrequent Items, or Both [Abstract] |
BUSINESS EMAIL COMPROMISE FRAUD LOSS | BUSINESS EMAIL COMPROMISE FRAUD LOSS As disclosed in June 2015 and 2016, the Company determined that it was the victim of a 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 $16.7 million. The Company recovered $8.1 million in fiscal 2015, resulting in a charge of $39.1 million in the fourth quarter of fiscal 2015, including additional expenses consisting of professional service fees associated with the fraud loss. In fiscal 2016, the Company recorded a net recovery of an additional $8.3 million, comprised of the $8.6 million recovery less $0.3 million of professional service fees associated with the recovery. No additional recoveries were made during the three and nine months ended March 31, 2017. The Company intends to continue to pursue the recovery of the remaining $30.0 million. The Company is also continuing to cooperate with U.S. federal and numerous overseas law enforcement authorities, who are actively pursuing a multi-agency criminal investigation. Any additional recoveries of funds are likely remote and therefore cannot be assured.

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- Definition The entire disclosure for an event or transaction that is unusual in nature or infrequent in occurrence, or both. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 20 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=64828382&loc=d3e15138-107781 + Details
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