Accounting scandals

Richard Dickey Scruggs is a famed Mississippi tort lawyer, who was born on May 17, 1946, grew up in Pascagoula, Mississippi. He was raised by his mother, because his father left the family when Scruggs was five years old. His mother worked as a legal secretary at the Ingalls shipyard. Dickie is known for tobacco and asbestos case and amassed more than 1 billion in judgments against various companies. According Joseph B. Treaster, Scruggs became one of the richest America lawyers, by forcing…

The act of submitting fraudulent claims is nothing new; many third-party payers are often the victim of these crimes. As a working individual that pays taxes through payroll deductions, like many Americans that have a contribution towards the Medicare program. I have a right to know where funds go and how they are disbursed. The reason I chose this particular regulation because there was a similar case of an Optometrist submitted fraudulent claims to Medicare. Dr. Sponseller was sentenced to…

hadn't really wanted to see him hired, he found himself in the middle of a venal greed machine whose story unfolded with all the absurdity and frustration of a tale by Kafka crossed with Tulipomania and Liar's Poker. While Cruver's book examines the accounting tricks, the insider stock trades—and in a special section, how the grossly lucrative fraudulent partnerships were structured and funded—it…

The client, Barae Pharmaceuticals had won a $2 million judgement against Bara Pharmaceuticals for the misuse of Barae’s name. Bara Pharmaceuticals had used Barae’s name inappropriately in the generic-label over-the-counter market. Bara, the defendant in the case, had closed down and filed for Chapter 7 bankruptcy when the judgement was entered. With the judgement entered and debt being incurred, the CEO and CFO of Bara had left the country and returned to South America. Additionally, the 125…

Introduction The nineties were a strange, almost fantastical time; new technology was being created, Presidents were playing the sax on television, and Bernard, informally known as Bernie, Madoff was serving as the NASDAQ chairman. Bernie climbed the economic ladder, eventually being in control of millions of investments in 2008 until it was found out that he had been the head of the largest Ponzi scheme in America. Madoff’s case is not only important to the how expansive it was, but how…

BenQ, a Taiwanese-based company, grabbed the headlines all over the world on June 7, 2005 when it acquired Siemens Mobile, a lose making mobile phone division of Germany’s Siemens and later launched the brand, BenQ-Siemens. Subsequently the acquisition proved to be a strategic mistake, as the two companies could not successfully integrate. In October 2006 BenQ-Siemens filed for bankruptcy in a Munich court, surprising every one. This sparked a debate in Germany over whether BenQ had acquired…

The job I had accepted assumed directorship of a 50-man comprehensive information technology department with a history of perennially poor management, incoherent staff development, technologies, internal policies and procedures. However, no sooner than concluding the first day on the job, the chief operating officer had apparently gone snooping around my office only to discover an inadvertent disregard for one of their key rules - all desks must be clean before leaving. Had I been informed?…

Franklin Clinton Franklin Clinton is one of the three main characters from a video game called, “Grand Theft Auto V”. His height is 6’0”. Franklin is 27 years old. His first job was towing cars. He is sometimes nice, sometimes gets mad, strong, a really good driver, and used to be a gang banger. Even though he’s a criminal and a gang banger, he just do it to protect himself and for money. He live in a poor neighborhood but as soon as he met a guy name Michael, who is also a criminal but more…

The financial indecency performed by Bernard Madoff changed the financial world forever. He is not only former non-executive chairman of the NASDAQ stock market, but the man to operate the largest Ponzi scheme in history. Upon further research relating the awful nature of a Ponzi scheme, many people after the ordeal were hurt and affected closest to him, especially his own children and the individuals following him around the world. This is truly the most deceitful monster like act ever done and…

There are lots of reports, attention, and even movies record this famous financial issue. In the movie “Margin Call”, John Tuld (very similar with Richard Fuld, who was the CEO of the Lehman Brother) said, the toxic aspect of its asset make it dangerous enough to death, and will be transferred easy relatively. 2000 is the 150 anniversary of Lehman Brother. The World Trade Center Office of Lehman Brother destroyed in 2001 “9.11”, and move to Manhattan 2002. During 2002, Lehman Brothers build it…