Case Study: The Unusual Suspect According to the case The Unusual Suspect, Diann had committed an embezzlement fraud that she pleaded guilty to embezzling approximately $500,000 from her employer and she was sentenced for 18 months in Florida prison. Diann's fraud scheme is a form of an anti-organizational crime, and she had committed several types of the fraud schemes such as: First, she started to mistakenly pay for her vacation expense through her company’s account, Second, she called the payroll company and told the company to make changes to her salary range. Third, she made duplications of her bonus checks.…
This case involves three parties Romanelli Inc. as principal, Schor accountant and financial adviser as agent and Citibank as a third party. It must be decided whom is liability for actions made by Schor. This case addresses the following legal issues; Authority, Authority branch of agency law, Criminal Law, Third Party Liability, and Vicariously Tort Liability. Relevant social issues involved. Standards must be in place to aid society.…
Who both submitted reports, but two different results were given to me. Nevertheless Phillip Waters have suppressed information causing elimination of adverse information enclosed in the reports, the ethical issue in this case deals with integrity and submission of fraudulent information. There is a decision to make in regards to what should be done if it is declared an employee has falsified a document.…
The Knapp commission was a committee made up of five citizens that was established and impaneled by then New York city mayor John Lindsay in 1972 that endeavored to investigate corrupt activities of police officers, detectives and supervisors working within the New York police department. This research revealed different types of corruption within the department they revealed different gambling operations where police officers were being paid off to not report them or arrest them for operating illegal gambling within the city. The police department had officers involved selling and distributing drugs, narcotics and even transporting drugs they were providing protection to known drug dealers. It was also determined that they were involved in prostitution by providing protection to the pimps, some of the officers were also found to be pimping out females.…
Francine Odegaard has recently been elected governor. Francine had received 50.2 percent of the general vote. Francine grew up without either of her parents, both passing away while she was very young. Her grandfather, Rolf Odegaard never legally adopted her, but regardless raised her as his own. Rolf helping out his granddaughter, donated $41,995 to support her campaign after the election had been completed.…
It includes solicitation or acceptance of gifts, unauthorized compensation, misuse of public position, or use of certain disclosure information, solicitation or acceptance of honoraria. All of…
Executive privilege is necessary, but should not be abused. There are instances where information discussed in the executive branch needs to be protected for the sake of preserving internal decision-making processes. It has to be in place to protect the fundamental interest of the presidency, but if the information could be used to help the country for the greater good, then it should be released regardless of executive privilege. An example of this is definitely the Nixon case. The information had to be released about the Watergate scandal just so everyone could feel safe about the country’s main headquarters.…
For example, police corruption or misconduct. A police chief who hires his niece as the executive secretary of the police integrity bureau can fall into this category. The act is intentionally committed when he alters his job application and resume so that her experience and qualifications fit the job description. The police chief is well aware that the position pays by experience and that his niece will be paid a certain salary. The police chief is fully aware that his behavior is unethical.…
Numerous laws were broken in the Enron scandal. The mail and wire fraud statutes of U.S. law criminalize the use of wires the enable a scheme to defraud or to obtain money by fraudulent means (Seitzinger, Morris, & Jickling, 2002). The honest-service statue, the law Skilling alleged broke that was then overturned, defines the fraud as a scheme to deprive another of the intangible right to honest service. Enron was subject to quite a few other laws that were broken. The company was supposed to disclose all information concerning federal securities to any public investor so that the public can make investment decisions.…
1) At Peregrine, the risk factors, especially those aligned with control environment factors and the “tone at the top” are discussed. The risks included having a paper based confirmation system for the entire business; no segregation of duties, which meant that only one or very few people were working on the financial statements, and in this case Mr. Wasendorf was the only one and had altered all bank documents using only Photoshop, excel, scanners, and printers. Continuing on, time off was not required at Peregrine, which could have ultimately discovered this fraud much earlier, by allowing someone else to sit in the absentee’s seat and review all of their work. Additionally, Peregrine lacked internal auditors or an audit committee at the time. The presence of the internal auditors could have decreased odds of misstatement incentives to commit fraud by management, called fraudulent financial reporting, and overseen…
The Pretrial process is very important to any case. It is important to both sides. It sets the climate for the prosecution’s strategy and it helps the defendant’s lawyer know how he needs to best set up the defense for his client. Bail is set for the defendant, and an examination of the facts is also reviewed. If a grand jury is chosen there are rules that have to be followed in order for a fair trial to be given.…
Essay Outline White-collar crimes, although not discussed very often, are on rise. When one hears the word crime, they are inclined to think violence or an unethical abuse of some sort. However, people rarely take corporate crimes such as fraud, theft, forgery, or embezzlement into a higher regard, as they do not highly affect the common citizen personally. Studying these executive crimes is important to raise awareness of deceit within society, and to protect and prevent unethical practices from occurring. The latent impact of these white-collar crimes is the emotional trauma, blackmail, and loss of finances.…
Managing the Risks of Global, Bribery in Business Case Analysis for ACCT 6390 – Spring 2016 Ebraheem Almakrami The issue of bribery has long been considered unethical and unfair. This classification led people to invest in finding ways to justify bribery differently based on their culture. Bribery could be descried as gifts in many countries like Japan, Saudi Arabia, and the United Arab Emirates. In other parts of the world like Brazil, Russia, India, and China, bribery is looked at as business expense. The issue of bribery is complicated and requires clear distinction between right and wrong, between gifts and bribes.…
When employees in organizations make decisions to act unethically, they affect not only the company itself, but also its shareholders, employees and customers. Employees make a countless number of choices every day in businesses, if they act unethical, they can damage a company's productivity, profits and…
Question 1 Some of the fraud risk factors at Peregrine include; the nature of transactions (cash), Separation of duties, Complexity of transactions, dominance, and expectations. The fraud triangle includes three portions in order for fraud to take place; these portions are opportunity, rationalization, and pressure. The risk of fraud decreases significantly when multiple employees are involved in different phases of a transaction. During the embezzlement Wasendorf, was the only one in the company who was able to see each transaction from the bank.…