Regardless of who did what, I hope United learns a lesson. Anytime they come up with a promotion, they need to ask, "How can this be abused?"
Preventing theft and creating solid internal controls are both responsibilities of management. This situation has resulted from lack of competent management and foresight.
Someone at UA should lose his job over this. Companies have been making and distributing promotional discount coupons and codes for decades. This is no different than someone photocopying a bunch of coupons.
Whoever ends up buying UA can instantly create a ton of synergies by simply addressing inefficiencies and poor business practices like this. Thankfully, I'm not a UA shareholder, so I really don't have to worry about it.