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UNAUTHORIZED TRANSACTION RELATED COSTS AND RECOVERIES (Notes) | 12 Months Ended
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Jun. 30, 2012
Unauthorized Transactions, Related Costs and Recoveries [Abstract] |
UNAUTHORIZED TRANSACTION RELATED COSTS AND RECOVERIES | UNAUTHORIZED TRANSACTION RELATED COSTS AND RECOVERIES In December 2009, the Company learned of significant unauthorized transactions, which totaled approximately $31,500,000 from fiscal years 2005 through December 2009 as previously reported. The Company has ongoing costs associated with the unauthorized transactions. For the years ended June 30, 2012 and 2011, the costs incurred were for legal defense costs and legal fees related to claims initiated against third parties (see Note 20). The Company has received various recoveries related to the unauthorized transactions which are summarized below. The insurance proceeds have covered the majority of the legal defense costs and are expected to continue covering these costs, which are decreasing with the settlement of these defense related actions. The Company will continue to incur legal fees for the claims initiated against third parties. There have been other recoveries of the assets previously owned and forfeited by the former Vice President of Finance. The Company expects to receive additional forfeiture related funds in the fiscal year ended June 30, 2013. For the years ended June 30, 2012 and 2011, these costs and recoveries were as follows:
|  | 2012 |  | 2011
Legal fees incurred |  | $ | 987,285 |  |  | $ | 3,035,269 |
Recoveries: |  |  |  |
Insurance proceeds |  | (867,711 | ) |  | (2,398,202 | )
Proceeds from legal settlements |  | — |  |  | (850,000 | )
401(k) and KESOT proceeds |  | (229,510 | ) |  | (401,456 | )
Proceeds from asset forfeitures |  | (1,118,463 | ) |  | (2,899 | )
CEO bonus reimbursements |  | (242,419 | ) |  | (208,895 | )
Total recoveries |  | (2,458,103 | ) |  | (3,861,452 | )
Unauthorized transaction related costs and (recoveries), net |  | $ | (1,470,818 | ) |  | $ | (826,183 | )

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