Without getting into details, I’ve seen this first hand.
When you have a secure, well paying job, you tend to take great care in staying employed. You also take great care in who you hire, and in protecting the institution.
When you begin to care more about money – be it expenses or profit – that ‘great care’ diminishes. Sure, you tell your partners, contractors, and vendors to do background checks, but you never really check or care to the extent it was your name on the hiring docs.