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UNAUTHORIZED TRANSACTION RELATED RECOVERIES (Notes) | 12 Months Ended
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Jun. 30, 2013
Unauthorized Transactions, Related Recoveries, Net [Abstract] |
Unauthorized Transaction Related Recoveries, Net | UNAUTHORIZED TRANSACTION RELATED 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 and recoveries associated with the unauthorized transactions. For the years ended June 30, 2013 and 2012, 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 covered the majority of the legal defense costs relating to defending the actions and investigations against the Company. 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, 2014. For the years ended June 30, 2013 and 2012, these costs and recoveries were as follows:
|  | 2013 |  | 2012
Legal fees incurred |  | $ | 2,598,454 |  |  | $ | 987,285 |
Recoveries: |  |  |  |
Insurance proceeds |  | (15,014 | ) |  | (867,711 | )
Gross proceeds from the settlement of the third party lawsuit |  | (8,500,000 | ) |  | — |
401(k) and KESOT proceeds |  | — |  |  | (229,510 | )
Proceeds from asset forfeitures |  | (1,670,487 | ) |  | (1,118,463 | )
CEO bonus reimbursements |  | — |  |  | (242,419 | )
Total recoveries |  | (10,185,501 | ) |  | (2,458,103 | )
Unauthorized transaction related recoveries, net |  | $ | (7,587,047 | ) |  | $ | (1,470,818 | )

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- Definition This element represents the complete disclosure related to unauthorized transactions. + References No definition available. + Details
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