Marty Frankel was born in 1954 and he was an American financial criminal who conducted a series of investment frauds since the late 20th century and brought hundreds of millions of dollars in losses. Marty Frankel was born to Leon and Tilly Frankel in 1954. He was Tilly’s second child and Leon's fourth. He went to University of Toledo but he couldn’t graduate. He was overall smart.…
The auditors could have detected this embezzlement and fraud by performing additional audit procedures for cash and inventory. With respect to cash-skimming scheme, the auditor could investigate further on the “Office” line item of certain cash report sheets by inquiring the company’s personnel and the management. Similarly, the auditor could also use analytical procedures to gain an overall assessment of sales and profitability across individual stores. Because the cash receipt was taken into consideration in determining sales and profitability of stores affected by the embezzlement, stores that consistently exhibit relatively lower sales and profitability may raise auditor’s eyebrows. Additionally, since the cash-skimming operation was not…
Many personnel in the criminal justice system have been punished for legal/ethical violations. Joyce Mitchell, who was a correctional officer at a New York prison, is one of those people. Joyce Mitchell helped David Sweat and Richard Matt create a plan to escape from a maximum security prison where they were serving the sentence in upstate New York. They had also planned to kill Joyce’s husband after Joyce first spilled him two pills to knock him out. She bought them contraband into the prison by buying whatever they requested and sneaking it by concealing items her purse.…
In the novel Nickel and Dimed by Barbara Ehrenreich, Barbara is an undercover journalist looking to write on how people in the lower class get by on minimum wage. She finds out through her journey, that most of them don’t. She has many different experiences, but she really evolves toward the end of her journey. She realises that the managers, and the bigger companies treat the employees like suspected criminals. I believe that this influences the employees morale negatively and therefore impacting their work negatively.…
In the excerpt Cheating in a Bottom-line Economy from his book The Cheating Culture, David Callahan takes a close look at the changing moral values of workers when they are forced to worry about profit over anything else. When upper management puts the pressure of making money on the workers instead of handling it themselves unintended consequences can happen. For many people, work has taken up most of their lives. Most interact with coworkers more than they see their family.…
I chose to write about an article where a male correctional officer pimps out female officers who work with him. I am going to summarize it now. A dishonored former correction officer condemned of importing medication onto Rikers Island claims during a sensational new book that he conjointly pimped out a triad of feminine colleagues to inmates and jail bosses. The guy would show up to work every day with a list of dreams.…
Corporate criminals are portrayed are not viewed as pathological and their crimes, are ‘’decriminalized’ ’and seen as ‘’technical law violations.’’ (Surette, 2015) In the news however, when these criminals are shown and their crimes are explained, they are in a bad position. These tend to be big names, therefore if they have committed a crime such as stealing the public’s money, their image deteriorates. For example, In Canada, a few senate scandals came out surrounding the fact that members of our parliament were using tax payers money to buy their own personal belongings and travelling to exotic places with their family, which the claimed as business expenses.…
Case Study: The All-American Girl Katie Jordon was the “all-American Girl Next Door” that got in way over her head when she turned to fraud to cover her bills in the midst of hard times (Wells, 2014). Like many who steal from their employer with intentions of paying them back, Katie became just another case of one bad decision that led to another (Wells, 2014). By the time she was caught, she had stolen over $65,000 (Wells, 2014). “What measures could have been taken to prevent the fraud committed by Katie Jordan or detect it earlier?”…
Lately, there has been a proliferation of concerns regarding ethical leadership within organisations not least because of the frequent scandals – which includes that of Australia Post CEO Ahmed Fahrour whom it was revealed was being paid 119 times that of a postal worker – divulging the excessive salaries that CEOs are being paid (Rhodes 2017). Indeed, the Australia Post scandal is almost reminiscent of that of the case of Barclays Bank in 2008 where the issue of bankers remuneration, especially bonuses, became a political and media cause celebre.…
I think that stealing these items is unjustified. Many people steal from their employers when they are dissatisfied or disrespected at their workplace. They believe that because they are not payed enough or treated harshly that it gives them the right to take items as their own way of disrespect. 4. Why do you think companies engage in corporate crime?…
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.…
Julio Jimenez committed the crime of theft from an ATM of more than a hundred thousand dollars. Jimenez robbed the ATM during the process of receiving the job. Not to mention, the LASD went through a rough time when…
The former chairman of the HSBC Swiss private bank Lord Stephen Green covered illegal activities of banking arm dealers and helped wealthy customers from around the world to evade taxes. This kind of strategy used by Mr. Green shows disappointing financial performance by people who are supposed to act like leaders not criminals. Instead of keeping the company’s reputation safe, Mr. Green engaged himself and the company who he’s been leading into trouble. Moreover, while Mr. Green let these illegal activities to continue, the auditors at that time should have caught this instead of being coerced followers who were afraid to raise alarms about the situation at HSBC.…
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…
Case 11.1: Accounting/Finance Ethics Scenarios Main Ethical Issue(s) Financial professionals are often confronted with fiduciary issues which challenge their integrity, honesty, and ability to be transparent with stockholders and customers. They may be pressured to make decisions or participate in accounting practices that are clearly against company policy, financial or accounting rules, regulations, and code of ethics. In all three scenarios, employees are asked to make such decisions. Concepts and Theories Relevant to Case Economics and the bottom line are often the driving force behind decisions that are made within the organization.…