Securities fraud Essays

  • Bernie Madoff Scandal

    674 Words  | 3 Pages

    highly respected financial organizations with his deception. He went on to become one of the most revered investment brokers of all time. He used his highly respected title as the Chairman of NASDAQ to gain the trust of the groups he committed the fraud against. Madoff was able to use his reputation and stature to prevent anyone from gaining the knowledge of the scheme he was actually manipulating. As explained in the PBS Frontline report none of his clients actually knew how he invested their funds

  • Anthony's Social Status In The Great Gatsby

    778 Words  | 4 Pages

    his social status in his educational institution. Similar with TSOP, there are three significances described in TBD; as adaptation, power and also state of grace. In the TBD, literacy works as adaptation as it is used by Anthony to adapt with his grandfather pressure to work. By mentioning of the literacy practice which is writing, he is able to make his grandfather stop asking him to find a job. It was Anthony’s way in hiding his laziness toward his Grandfather. Writing, even though seems to be

  • History Of Corruption In FIFA

    2381 Words  | 10 Pages

    1. Introduction Corruption in FIFA has a very long history of bribery and money laundering, but it was never taken seriously until last year when a large number of FIFA officials were arrested over corruption scandal. When in May 2011 president Sepp Blatter was asked about the crisis in FIFA he sarcastically answered “Crisis? What crisis? We are only in some difficulties.”, four years later in December 2015 FIFA independent ethics committee banned him from all FIFA related activities for 8 years

  • Causes Of Fraud

    840 Words  | 4 Pages

    A major reason why people commit fraud is because they are allowed to do so. There are a wide range of threats facing businesses. The threat of fraud can come from inside or outside the organisation, but the likelihood that a fraud will be committed is greatly decreased if the potential fraudster believes that the rewards will be modest, that they will be detected or that the potential punishment will be unacceptably high. Upon the case of John Y. Lee, a former director of Samsung America Inc. who

  • Business Case Analysis: Enron's Ethics Policies

    918 Words  | 4 Pages

    BUS323 Professor Pao INTRODUCTION/SITUATIONAL ANALYSIS The object of this case analysis examined the ethics program of the Eron Corporation. The case analysis examines the Enron’s organizational culture that led to multiple counts of security fraud and its bankruptcy, in December 2011. Although, there are many contributing factors to the demise of the gas company, the major factor was its unethical practices and its financial scandal to its shareholders. This analysis will address the cultural

  • Secret Service Research Paper

    1147 Words  | 5 Pages

    safeguard the financial systems of the United States. They have many duties inside these categories, such as; Prevent computer-based crimes, safeguard cyber banking and finance, treasury checks, bonds, prevent credit card fraud, prevent computer fraud, and prevent identity fraud. Recently in U.S. history there has been in increase in the quantity and sophistication of the amount of cyber crimes against US infrastructures. The secret service does a lot to put an end to these types of attacks. They

  • Fraud Case Study: Refco Inc.

    1393 Words  | 6 Pages

    Phillip Bennett was arrested on October 12 and charged with number of counts of securities fraud for using interstate commerce and securities exchanges to lie and not to be ethically truthful to his investors. After his arrest, his lawyer said that Bennett planned to appeal against the charges. Trading of Refco's shares was halted on the New York Stock Exchange

  • Examples Of White Collar Crimes

    932 Words  | 4 Pages

    criminal act are embezzlement, bank fraud, tax fraud, health care fraud and money laundering. WorldCom was one

  • Examples Of Unethical Behavior In Business

    1191 Words  | 5 Pages

    individuals who act unethically whether it is for their personal benefit or for the sake of the company they work for. Unethical behaviors in business might be as simple as using company property or funds for personal gain to inside trading and financial fraud. According to The Chartered Institute of Management Accountants, nearly one third of business professionals feel pressured to compromise their ethical standards and are increasingly pushed towards unethical behavior. Moreover, “misconduct is common

  • Essay On Unethical Behavior

    1680 Words  | 7 Pages

    Bid-Rigging, and Kickbacks. 6. Purchasing Goods for Personal Use with Company Funds. 7. Data Manipulation. 8. Duplicitous Expense Reports. 9. Manipulate the Machines. 10. Salami Fraud. Many times security and controls are so poor, employees simply walk out the door with your cash, inventory, or other assets. Discounting fraud or disagree with it can happen at your company is foolish and is inviting loss. By the way, a favored trick of dishonest employees is to take inventory out the back door and

  • Similarities Between Corporate Crime And White Collar Crime

    992 Words  | 4 Pages

    Corporate crime is a form of fraud that is closely related to “white-collar crime,” which takes place in business organizations and other corporate institutions such as banks, manufacturing industries, and non-governmental organizations. Unlike organized crime which may involve illegal street activities such as kidnappings and cross-border operations like drug trafficking, corporate crime involves “clean jobs” like manipulation of accounting records by finance officers, insider trading, misappropriation

  • Type Of White Collar Crime

    1354 Words  | 6 Pages

    not knowing any better. Here is an example of USA. According to the FBI, fraud committed against government health insurance programs costs the United States over $60 billion each year. Oversight coupled with a lack of medical knowledge is generally said to account for the epidemic of healthcare industry fraud in the United States. Defense Contractor Fraud: Pakistan spends a huge amount of budget on defense. Defense fraud causes great damage to the government. Here are some common methods that are

  • Crazy Eddie Case Study Managerial Accounting

    1586 Words  | 7 Pages

    Clients will know what auditors will do next, even they can change something in the audit work product if the security of audit work product in inadequate. In today’s audit environment, auditors should keep their work product in their personal business laptop, put a password lock protection on the laptop and files/folders. Do not share the password with other people

  • The Worldcom Fraud Case

    2107 Words  | 9 Pages

    This three element fraud is often referred as a fraud triangle by the researchers (Cohen, Ding, Lesage & Stolowy, 2010, p. 276). On the other hand the theory of planned behavior focuses on the intentions behind the planned behavior. Ajzen (1991, p. 188) explains this as “attitude toward the behavior… refers to the degree to which a person has a favorable or unfavorable evaluation or appraisal of the behavior in question”. Cohen, Ding, Lesage & Stolowy (2010) have combined the fraud triangle and theory

  • Martha Stewart Case Summary

    899 Words  | 4 Pages

    On January 27, 2004, Martha Stewart stood on trial facing charges of conspiracy, obstruction, securities fraud, and lying to investigators in connection with the sale of her stock in ImClone, a biopharmaceutical company (Gibson, Warin, & Gassaway, 2008). Just three years earlier, Stewart sold her stocks that she had within the company. After two days, the organization 's stock dropped 16 percent when the Food and Drug Administration (FDA) said it had rejected the company’s new project of a drug,

  • Cyber Routine Activity Theory

    1698 Words  | 7 Pages

    and Non-Domestic Routine Activities and Their Impact on Digital and Traditional Threat Victimization”. European Journal of Criminology 8(2): 115-127. Wilsem van, J.A. 2011b. “Bought it, But never got it”. Assessing Risk Factors For Online Consumer Fraud Victimization.” European Sociologic Review 29(2): 168-178. Yar, M. (2005). The Novelty of Cybercrime. European Journal of Criminology, 2,

  • Bernie Madoff Case Summary

    1555 Words  | 7 Pages

    title 17 cob of federal regulations Section 240. 10B - 5. Madoff was accused of defendant, unwillfully, willfully and knowingly, by the use of mean and instrumentalities, in connection an entry interstate commerce with the purchase and selling of securities, would and could use and employ manipulative and deceptive devices. Bernie Madoff mislead misrepresented himself to invest in businesses to take part of his and engaged and his illegal Enterprise for profit no true return on investment.

  • Money Laundering Crime

    973 Words  | 4 Pages

    society as it affects the economy and the stability of a country. It is a gateway of sourcing criminal activities like mafia operations, drug trafficking, illegal arms dealing and terrorist financing. Financial crimes ca be in the form of credit card fraud, insider trading and money laundering. Money laundering is a large scale financial crime. "The process by which one conceals the existence, illegal source, or illegal application of income, and then disguises that income to make it appear legitimate

  • Sally Q. Yates Case Summary

    895 Words  | 4 Pages

    individuals instead of just the corporation. If history is any lesson on the matter, her rhetoric will remain just rhetoric. An Ongoing Problem The problem with the current financial regulations is that it does stop corporations from committing fraud. When a bank, such as Credit Suisse, pleads guilty to a crime like helping Americans avoid taxes, they are not punished with criminal charges or anything that would actually stop them from committing the same act. A financial institution is typically

  • Sarbanes Oxley Act 2002 Summary

    823 Words  | 4 Pages

    Sarbanes-Oxley Act (2002) Developed by U.S senator Paul Sarbanes and U.S representative Michael Oxley and enacted in 2002, the Sarbanes Oxley Act sought to delimit the increasing level of financial fraud. The sought enhance the accounting process by ensuring that the top management remained actively involved on an individual basis in the analysis and certification of the accuracy levels pertaining to company financial information. The Act was developed in an effort to reduce and consequently eliminate