Flicking through the documents before me, there was no doubt. The invoices which suppliers denied issuing, the cash transfers to an offshore account, the amendments to the company's financial ledger, it was clear that someone was perpetrating a fraud on the company. Tens of thousands of dollars, maybe more, had gone missing. As CEO, it was my responsibility to make sure that the fraud stopped and that the person responsible be brought to account for their behaviour.

The simplest thing to do would have been to call the police and let them deal with it. But there were wider implications to consider and take into account. Calling in the police would involve a lot of bad publicity, a lot of time wasted giving witness statements, a lot of expense with lawyers. And then the trial and all that involved. Perhaps the person responsible would be found not guilty - who knows what crazy verdicts juries could come up with nowadays - or perhaps the person would be found guilty and not get the appropriate sentence, not be punished severely enough.

Yes, there were a lot of issues to consider before I decided what to do. As a CEO, my job is to make difficult decisions. Having said that, I must admit that my decision was made a lot easier when I found out who was perpetrating the fraud. It was my CFO, Jenny Hewitt. Who would have thought it?

Jenny was something special. She had a brilliant mind - which was why I had hired her - although she obviously thought she was cleverer than she actually was. Her fraud had been childishly easy to uncover. Perhaps she thought I was too stupid to realise what was going on, or just too rich and lazy to care. Wrong on both counts. I didn't like being made a fool of.

As I said, Jenny was brilliant. She was only 29 and here she was a CFO, pulling down 200 grand plus a year, plus bonuses and share options. Obviously it wasn't enough, she wanted more. In a way, I admired her greed. I also admired her drive, her ambition, and the way she carried herself. Many people in the company regarded her as too driven, too ambitious. She had a strong personality and knew how to get her way. She made enemies - but hey, that's business. I knew a lot of people hated her, thought she was a bitch.

But I admired all that, especially the way that she used her sexuality to get what she wanted. Jenny was not only extraordinarily clever but stunningly beautiful. She was one of the sexiest people I knew. 5 foot 5 inches of sex on a stick! Long lustrous shoulder length black hair, brown eyes you could drown in, and a fantastic 36C, 25, 34 figure. Her breasts, ass and legs were simply superb and she wore clothes that accentuated them to perfection: low cut blouses, a shirt with the top buttons undone showing her heaving cleavage; tight figure hugging short skirts, heels. She was quite a package. With that mind combined that body, she had both employees and customers eating out of her hand. She was quite an asset to the company.

So you can see what a dilemma I faced. Turn Jenny over to the cops and let the law take its course, or deal the matter internally. There was no contest. It didn't take me long to realise that there was a way to deal with this in a way that would deliver a lesson to Jenny about her behaviour that she would never forget and ultimately bring significant long term benefits to the company - and, just as importantly to me, of course.

That morning, I made a few calls and set everything up. Already, I was excited at the thought of what was to come and had difficulty concentrating on more mundane tasks. Then, about 11 o'clock, I called Jenny and asked her to come to my office when she had a moment. I didn't want to make her overly suspicious by asking her to see me straight away but I knew from experience it wouldn't be long before she came to see me.

Sure enough, about ten minutes later, I heard a knock on my door and saw Jenny step into the office, looking as immaculate as ever. I was taking a call at the time and motioned her to come sit down in front of me at my desk. I watched as she walked across to the desk and sat down, her short skirt riding up her legs as she lowered herself onto the chair. I continued to speak on the phone, observing her out of the corner of my eye, watching as she absent-mindedly twirled her shining black hair between her fingers and almost imperceptibly licked her luscious lips.

I finished the call and replaced the receiver, "Sorry about that, Jenny. How are things?"

"Good," she replied, "Busy but we're getting there. I should have the Period 8 results for you this afternoon if that's what you wanted to see me about."

"No," I said, "it wasn't, but good to know. No, what I wanted to know was what you were doing this evening. There's a party with a number of new potential clients going on and I was hoping you'd be able to come with me. You know the drill, schmooze a little, flatter them, try to find out if we can help."

Jenny didn't hesitate. "Sure", she replied with fake enthusiasm, "I'd love to." She knew, as well as I did, how dull these sorts of marketing functions were but equally how essential they were to getting new business. And of course, it didn't hurt that Jenny was beautiful and always made an effort to try to flirt with the customers and woo them into submission.

"Great," I said, "Shall I pick you up from your home at 7:30. It starts at 8."

"Fine," she replied, "Is that all?"

"Not quite," I said, pushing a manila folder across the desk to her, "I'd be grateful if you could take a look at this for me and let me know what you think."

Jenny picked up the folder and opened it, leafing quickly through the documents inside. All credit to her, she didn't show any signs of a loss of composure as she looked at the copies of the fake invoices and bank transfer details.

"I'm not sure if they're anything to be concerned about, " I continued, watching carefully for a reaction, "Perhaps you could make a few discrete enquiries and see what you can find out. And let's keep this between ourselves. If there is anything suspicious about these transactions, I want to keep this quiet until we've figured out what to do."

She looked up at me, still turning through the documents slowly, "Mmmmmm . interesting. I'll see what I can do and get back to you as soon as I can."

"Great. Thanks a lot. See you at seven thirty."

"It's a date!"

With that, Jenny stood up and holding the file in her left hand, turned and left my office. I smiled as I watched her tight little bottom move beneath her black skirt. This was going to be such fun. It was time to make a few calls.

That evening at 7:30 on the dot, I pulled up outside Jenny's condo in my Mercedes. I saw the curtains twitch and the lights go out, then watched as Jenny walked down the path to the car. She opened the car and climbed in.

"Hi," she said, smiling.

I allowed myself a long lingering look at Jenny and smiled. Damn, she looked sexy. She was wearing a black low cut cocktail dress, showing off her magnificent cleavage to perfection. Her dress ended just above the knee, revealing her long silky smooth legs, clad in sheer black nylons. Her long lustrous black hair tumbled onto her bare shoulders. Her subtle perfume permeated the car.

"Hello," I replied, "You look fantastic."

Jenny smiled and thanked me as I steered the car from the curb and drove down the street. Soon we were on the freeway headed out of the city.

"Where are we headed?" asked Jenny.

"It's a bit outside town in the hills," I replied, "The clients have a little place up there. It's supposed to be quite lovely."

We drove in silence for a while. Then I turned to Jenny and asked, " Did you have chance to look at those papers I showed you this afternoon?" She shook her head, "Not really. I had a quick look through but didn't really have time to get into them."

"Pity," I said, " I had another trawl through them after you'd gone, rang Accounts, asked a few questions." I paused and cast a quick glance at Jenny to get her reaction but she was deliberately avoiding my glance, looking straight ahead. She said nothing. I continued, "I'm pretty certain something's going on, some sort of fraud. And I'm pretty certain who's behind it."

There was a short pause before Jenny spoke. "Really?" she said, her voice seeming to crack slightly, "Who is it?"

"Well," I said, pausing for effect, "I think you know them. And its really someone who should have known better." Saying that, I turned and looked at Jenny, smiled and then turned back to watch the road.

She was silent for a moment, "Are you going to tell me their name?"

"Not just yet," I said, "I think at the moment that it would be better to say nothing until I have completed my enquiries, until I have decided whether to contact the police."

Jenny spoke, a little too quickly, "So you've not decided what action to take yet then?"

"No, not yet. It depends on how co-operative the culprit is." And saying that, I turned to Jenny again and placed my hand on her thigh, gently patting it. Jenny turned to look out of the windscreen again, a fixed expression on her face.

I smiled and returned my attention to the road. I knew that a prolonged silence now was the best strategy. From my long experience of negotiations, I knew what Jenny was thinking now. How much does he know? Does he know its me? If he did, surely he would have said something. Surely he would have called the police. No, he can't know. But then, what did he mean by his last comments about being co-operative? Does he know? Does he want something? If so, what?

After about ten minutes, the sound of the car's tyres rolling on the freeway, I decided it was time. "Well?" I asked.

"Well, what?" Jenny asked, her voice trembling.

"Have you looked at the papers I gave you?"

"Y.yes."

"Well, what do you think? Do you agree that there's clear evidence of a fraud?"

Jenny shuffled through the papers on her lap once more but it was clear she wasn't reading them. It was a delaying tactic. Eventually, she spoke - I could sense the fear in her voice, "Well, it certainly seems that way. Who do you think is doing this, if something is going on?"

I laughed, "Isn't it obvious? Take a look at the name of the company on the bank account to which the funds are being transferred."

There was a pause: "I don't recognise the name." There was a noticeable tremor in her voice.

"You should, Jenny," I explained, "The thing about fraudsters is that they think they're cleverer than they actually are. And not only that, they have big egos. They always leave something of themselves behind. Surely, you've noticed that the name of the company, JLH Enterprises Inc, is basically your initials."

I heard Jenny catch her breath, "M.my initials?"

"Yes, your initials. J.L.H. Pretty stupid, don't you think. But then I bet you thought no one would ever find out. And I expect it gave you a buzz using your initials like that. So what do you think? Do you think this will stand up in court?"

Saying that, I flicked the indicators to turn left off the freeway: "Not far to go now".

The car was deathly quiet again as we drove up the dark hillside road, the city lights twinkling in the valley below us.

"What do you intend to do?" Jenny stammered after a long silence.

"Well Jenny, what would you do in my position? You appreciate I can't let this go. I can't be made a fool of and I can't let employees rob me blind."

She was silent, no doubt turning over the options in her brain.

"The thing is, Jenny, you put me in an impossible position. You're the best CFO I could wish for and yet ." I paused, ".you're a thieving little bitch. I either need to know that this won't happen again ."

"It won't, sir, it won't. You have my word," Jenny interrupted.

"Let me finish, Jenny, let me finish. I need to know that this won't happen again or I need to turn you in to the authorities. The SEC takes a very dim view of this sort of thing nowadays, and I have my reputation and my shareholders to consider. So what I need, Jenny, what I need is your total unquestioning obedience from now. I need to know that you will do whatever I say when I say it, and then maybe I will believe this won't happen again. What do you say?"

"Of course, sir, anything," Jenny stammered, so quickly she tripped over her words.

"Anything?" I asked, a smile playing around my features.

"Anything," she replied.

"You appreciate that anything covers a lot of possibilities, don't you."

"W.what do you mean?" Jenny asked tremulously.

"You'll find out," I laughed, "But you did say 'anything' I believe. Or did I not hear you right? I have a cellphone here we can use to call the cops, if you like."

"No," she replied, "I'll do anything. Just don't call the cops."

"I'm glad we understand each other, Jenny," I said, patting her gently on her silken thigh, "Ah we're here." Saying that, I turned the car off the hill road onto a short gravelled driveway that led to a set of large double gates. As the headlights swivelled onto the gates, they swung upon automatically and I steered the car up the driveway to the mansion at the top of the hill.

Pulling up in front of the large white portico, I handed the keys to the valet. Jenny and I stood side by side in front of the steps leading to the front door. Offering her my arm, she slipped her arm inside mine and we walked up the steps into the house.

The entrance to the house was full of people, clad in evening dress, chatting, drinking, and eating from the buffet. The room was impressive, a large white marble floor and marble staircase leading to the upper floors. We wandered through the house, nodding to some of my contacts, admiring the luxurious decor. It was quite the place.

As we stood in the lounge, a waiter approached us with a tray laden with champagne. I took two glasses and handed one to Jenny.

"Cheers," I said, "To our future working relationship." "Cheers," Jenny replied nervously and we clinked the glasses and sipped our drinks.

"So Jenny, you know anyone here?"

Jenny sipped her champagne and looked around, "Don't think so. No-one looks familiar."

I nodded," Its always difficult being with new people. It's important to make a good first impression. You don't want to . embarrass yourself."

Jenny looked at me curiously. She knew I was getting at something but she didn't know quite what.

"You wouldn't want to embarrass yourself in front of all these people, would you?" I smiled.

"No," she replied circumspectly, " No, I wouldn't."

"Imagine what these people would think if they knew what you were really like. If they knew, you steal and lie."

Jenny blushed, lowering her eyes from my gaze. I reached up and placed a finger under her chin, lifting her head up so I was looking directly into her pretty face. I smiled and felt Jenny shiver. Life was good.

Placing my empty champagne glass on the tray of a passing waiter, I ordered a large vodka and orange on the rocks. Almost immediately, it arrived and I took it, taking a long sip as I stared intently at Jenny. Reaching into the glass, I pulled out a piece of ice and stroked it between my fingers, feeling the ice melting to my touch. Slowly I began to run the piece of ice down Jenny's cheek, running it down to her neck.

She flinched slightly and gasped slightly as the icewater trickled down her skin but otherwise did not react. She knew this was a test and if she failed, it was all over for her. Slowly I ran the piece of ice over her neck and down over the swelling of her breasts, letting the ice water run down her cleavage. I could see the water beginning to dampen her dress as it trickled between her breasts.

Moving the ice cube over her dress, I rubbed her left nipple through the fabric of her dress. She gasped again as I felt the nipple become erect and visible through the thin wettened fabric. Moving my attention to the other nipple, soon both were erect and clearly visible. Then staring intently into her pretty brown eyes, I slid the ice cube down her belly and then reaching under her skirt, slipped the cube into the front of her panties and let go of it.

I smiled at Jenny's discomfort, noting the rivulets of water trickling down her legs.

"You enjoy that, Jenny," I asked as she stood there before me, blushing, embarrassed. She did not answer, biting her lip in embarrassment. "You see what I meant, Jenny, when I said you would be expected to do anything." She nodded.

"OK now. Give me your drink, Jenny," I said and took the wine glass from her, placing it on the table behind me, " Now get on your hands and knees in front of me."

"What did you say?" Jenny said startled.

"I said," I replied evenly, " Get down on your hands and knees in front of me. And be quick about it unless you want me to tell everyone here and the police about what a thieving little slut you are."

Jenny's eyes flared with indignation but I knew that she knew she had no choice in the matter. I leaned closer to her, my eyes locked on her, and hissed under my breath, "One . last . time. Get down on your hands and knees, bitch. Now."

I saw the resignation in her beautiful brown eyes. Slowly she knelt in front of me, her head down. Looking down, I had a superb view of her heaving cleavage. Then slowly she lowered herself onto her hands and knees. I could tell from her stance that she was trying to pretend that she was looking for something, trying not to attract attention. But who could fail to notice the beautiful girl crouched before me, her hair falling over her face, and that perfect rounded ass.

I looked down at Jenny, trembling at my feet. Placing my wineglass on the table, I clapped my hands and called for quiet " Ladies and gentlemen, ladies and gentlemen, please may I have your attention." As I do so, I heard a low moan of "No" from the cowering slut at my feet.

Conversation began to quieten down and people turned to look in our direction. As they did so, they could not fail to notice Jenny on her hands and knees at my feet. A few people giggled and pointed.

"Look everyone," I continued, "Look at this bitch on her hands and knees at my feet like a dog. And do you know why? Because that's where she belongs . On the floor."

There were a number of nervous laughs as people took in what was happening. I looked down at Jenny cowering at my feet. Bending over, I patted her head, "Good doggie." More laughter. Everyone in the room was entranced by the spectacle before them, not least because they now realised that this was the show I had promised them when I had made those calls earlier that day - inviting people to a party they would never forget.

Running my hand down Jenny's back, I lifted up her skirt exposing her panties. I then pulled the skirt back so that she crouched there, her pantied ass on view to all. And what a perfect ass it was, the cheeks so round and spankable under the thin silk panties.

"Now then, bitch," I said, "Crawl on your knees across the room to that woman over there." I pointed towards a slim attractive brunette wearing a tight-fitting black cocktail dress across the other side of the room, watching intently, holding a glass of red wine.

The room was quiet, everyone wondering whether Jenny would obey. Seconds passed as she hesitated. Lifting my foot, I gave the crouching slut a push in the ass. Jenny lurched forward, falling face first onto the floor. A gale of laughter swept round the room as she lay sprawled on the floor, her clothing in disarray, her hair falling across her pretty face flushed red with embarrassment.

Slowly Jenny lifted herself back onto all fours and, head lowered in shame, she began to crawl across the floor towards the woman. Some of the onlookers began to clap slowly as she crawled grudgingly but helpless to resist. Eventually she reached the woman, remaining on all fours, her head hanging down. The woman looked down on the humiliated girl, smiling, looking at her companions and then at me.

"Kiss her feet, slut," I ordered and Jenny slowly lowered her lips to the woman's shiny black leather shoes and kissed each shoe gently, her ass exposed to view. More laughter.

"Now then, pup," I continued, "I want you to kneel and beg her to allow you to give her a ride round the room on your back." The partygoers laughed and whooped their approval.

We all watched as Jenny slowly raised herself onto her knees, lifting her hands to a begging position in front of her, her head lowered in shame. I heard Jenny mumble something and saw the woman smile.

"Louder, bitch," I shouted, "We can't hear you. And lift your head up. Do it. Now." Resignedly, Jenny lifted her head and looked up at the woman looking down on her a quizzical smile playing across her features, "Please miss, please will you allow me to give you a ride on my back round the room." God, she looked so sexy and so vulnerable, kneeling there, her hair and clothing dishevelled, pleading with another woman to be humiliated.

More comments and ribald laughter echoed round the room. Whilst Jenny was clearly totally embarrassed by this situation, I could sense the submissive in her bubbling to the surface. This would be more fun that I had imagined.

The woman laughed, " Why thank you horsey. What a kind offer. However ." and she paused, looking at the glass of red wine in her hand, ". I don't seem to have finished my drink just yet." Another pause and a wicked smile, "Oh wait a minute, I have an idea ."

Saying that, the woman slowly raised the half full glass of wine above Jenny's head and slowly tipped it up. A thin stream of red wine trickled down onto Jenny's uplifted forehead, rivulets of wine dribbling over her face, down her neck, and down between her cleavage. The onlookers howled with laughter at the sight of my slut kneeling there, wine running down her stupid face.

Upturning the glass to shake the last drops of wine out over Jenny's head, the woman spoke again, "There. Finished now. Right, pony, on all fours, quickly. I want my ride."

Jenny obeyed, her face wet and sticky, her chest and boobs stained with wine. Immediately, the woman straddled the crouching girl and lowered her bum onto the small of Jenny's back, wiggling her bottom to get comfortable. The crowd cheered. Grabbing Jenny's hair with her right hand, the woman lifted her feet off the floor, crooking them back to rest against Jenny's thighs. Then raising her left hand high in the air, she brought it down with a THWACK on Jenny's ass cheek shouting, "Giddyup horsey."

Jenny began to crawl, the woman swaying on top of her, her heels digging into the side of Jenny's thighs. The crowd cheered as Jenny crawled amongst them, looking down at the humiliated slut, her head hanging down, hair dangling across her pretty face, now flushed with embarrassment and shame. Slapping Jenny's left buttock, the woman screamed with laughter: "To the left, horsey. Turn. Quick, to the left."

Slowly, laboriously, Jenny did as she was instructed. "God," chuckled the woman, "This is hopeless. I need some reins to steer this pony around." Saying that, a man removed his tie and handed it to Jenny's rider. "Open wide, slut," the woman ordered, bending forward to slap Jenny across the cheek. Jenny dutifully opened her mouth and the woman quickly placed the middle of the tie into it. "Bite down hard, horsie," she commanded and Jenny obeyed. Grasping each end of the tie, the woman now had a rudimentary bit and reins.

Pulling hard on the ends, Jenny's head was forced upwards, the fabric of the tie cutting into the sides of her mouth, drool trickling down her chin. With a "giddyup" and a dig to the thighs with the woman's heels, Jenny began to crawl again, her rider directing her by tugging on the left rein to turn left and on the right to go right.

For five minutes, the crowd laughed and cheered at the tableau presented to them before, exhausted and humiliated, Jenny collapsed on the floor, her rider spilling off, laughing hysterically. I walked over to the prone slut, lying in a heap on the floor.

"Look at me, slut," I ordered and wearily Jenny raised her head. I smiled as I saw the beaten expression on her face, her cheeks flushed with exertion and shame, sweat beads on her forehead, her breasts heaving with each breath. But most of all, I revelled in the look in her beautiful brown eyes, burning with humiliation.

Bending over, I grabbed her hair and pulled the slut to her feet, forcing her to stand in front of me. She looked so submissive and helpless, stood there before me, clothing dishevelled and ripped, head hanging down with shame.

"Right, bitch," I hissed, "That was just for starters. Now get your clothes off. We are going to have MUCH more fun with you."

"Pleeeease," I heard Jenny whisper under her breath.

"What was that, slut?" I said, leaning forward, " Did you say something?"

There was a brief pause before Jenny quietly spoke again, "Pleeease don't make me take my clothes off."

I laughed, "So why exactly is it that you think you deserve clothes after what you've done, whore. Now get them off . NOW."

Slowly, resigned to her fate, Jenny began to undress. The crowd of men and women gathered round, watching intently as she stripped. Slowly, Jenny slipped the cocktail dress from her shoulders, letting it fall around her ankles. She now stood before us, dressed in a bra and panties and stockings, her heels having been lost earlier when she crawled around the room. Bending over, Jenny rolled each of the stockings down her legs and pulled them off. She now stood before everyone, clad only in her bra and panties, the silky white bra showing off her tanned 36C breasts to perfection.

"Come on bitch, " I snarled, "Get the bra off. We haven't got all night."

Sobbing quietly, Jenny unclipped the bra and let it drop to the floor. A cheer went up as the audience admired her firm rounded breasts, still heaving from the exertion earlier.

"Jiggle them for us, whore," I laughed, "Let's see those puppies move." Blushing, Jenny swung her body from side to side, her beautiful tits bobbling as she did so. The audience whooped and cheered at the sight.

"Now get naked," I commanded, "Quickly. Then get your hands on your head."

With a sigh, Jenny rolled her panties down her thighs, down her legs and stepped out of them, standing before the partygoers stark naked. Placing her hands on her head, she stood before us exposed and helpless. I smiled as I cast my eyes over her perfect nude body, admiring her wonderfully trim pussy. Stepping towards Jenny, I ran an appreciative eye up and down her body before giving her a light slap on her pussy with my hand. Jenny moaned and her knees buckled slightly. Gently, I cupped her pussy in my hand and rubbed, standing close to the naked girl, and looking deep into her eyes, whispered, "We are going to have SO much fun with you, girl." I felt her body trembled as I spoke.

Stepping back, I admired her body once more and then gave another order, "Okay, slut. Turn around slowly and let these ladies and gentlemen inspect you." Slowly Jenny, hands still on her head, began to shuffle round, letting the audience feast their eyes on her superb naked body. Rude comments and muffled laughter came from the crowd as she displayed herself. Eventually, she had turned 360 degrees and stood facing me again.

"On your hands and knees, bitch," I ordered and Jenny obeyed, dropping to all fours at my feet, her hair falling across her face, her boobs dangling seductively. Bending over, I picked up her discarded panties and threw them across the room, "You were a useless horse. Now lets see if you're better at being a puppy. Now, fetch."

Resignedly, Jenny turned and began to crawl through the watching audience on all fours, their mocking laughter ringing in her ears. Reaching the panties, she lowered her head, picked them up between her teeth and crawled back to me, waiting on the other side of the room. I watched as Jenny knelt before me, the panties hanging from her mouth, her big brown eyes looking up at me burning with humiliation. I let her kneel there for a moment or two before taking the panties and patting her on the head, "Good puppy."

"Now bark for me, pup," I laughed, dangling the panties between my fingers and letting them stroke across Jenny's face. Blushing with shame, the helpless slut began to bark like a dog: "Woof, woof, woof." The audience laughed as Jenny humiliated herself before us, whining and whimpering like a naughty puppy. Eventually, I raised my hand: "Enough, pup. Stop."

Throwing the panties across the room again, I looked down at Jenny: "I think that last task was a little too easy for you. This time, get down on your belly and fetch."

Jenny lowered herself, face down onto the floor and began to wriggle on her belly across the room to the panties. I smiled as I watched her bum wiggle from side to side as she wriggled along, her breasts squashed against the floor. Eventually she reached the panties, gripped them between her teeth and wriggled back to me. Kneeling before me, I grinned as I saw the red marks on her breasts and belly caused by the friction of her lightly tanned skin with the rough floor.

"Very good, slut," I said, taking the panties from her mouth and pulled them over her head. A roar of laughter came from the watching partygoers as they stared at Jenny, kneeling there naked, the panties sitting neatly on her head.

I let Jenny kneel there for a while to give her time to appreciate how stupid she looked before I removed the panties and tossed them aside. Looking down on the kneeling slut, I bent so my face was only inches from hers, "Look at you, you cheap little whore. You're loving being treated like this, aren't you?" Jenny blushed: it was doubtful she was and the suggestion that she looked as if she was only served to embarrass her even more.

"Now then, whore," I laughed "Time for your real punishment to start."