UNAUTHORIZED TRANSACTION RELATED RECOVERIES (Notes)

12 Months Ended

Jun. 30, 2017

Unauthorized Transactions, Costs and Related Recoveries, Net [Abstract]

Unauthorized Transaction Related Costs and Recoveries

In December 2009, the Company learned of significant unauthorized transactions as previously reported. The Company has ongoing costs and recoveries associated with the unauthorized transactions. For the fiscal years ended June 30, 2017 and 2016, the costs incurred were for legal fees related to claims initiated against third parties (see Note 18). During the year ended June 30, 2016, the Company had net recoveries as a result of settling one of its claims for a gross amount of $3,000,000. For the fiscal years ended June 30, 2017 and 2016, the costs and recoveries were as follows:

	2017			2016
Legal fees incurred	$	77,500		$	1,714,074
Gross proceeds from settlement of the third party lawsuit	—			(3,000,000		)
Proceeds from asset forfeitures	(9,952		)	(75		)
Unauthorized transaction related costs (recoveries), net	$	67,548		$	(1,286,001	)