Accounting scandals

After kenneth worked there after while he got sent to prison for selling large amounts of Enron stock in september and october of 2001. Security new that something was going on and that he was up to something. Then they eventually went through his accounting book and found out that he had been selling the stock, that's how they found out it was kenneth selling the stock and not someone else that worked there. Lay…

Behind closed door deals, bribes, scandal, trades, mass corporations, sounds like the next top crime show, but this is no show. This is the Oil Reserves Scandal also known as the Teapot Dome Scandal. The Teapot Dome Scandal took place in the early 1920s. It was the secret leasing of federal oils by the Secretary of Interior, Albert Fall. After President Harding switched the oil reserve lands from the Navy to the Department of Interior in 1921, Albert Fall secretly gave Harry F. Sinclair from…

Overview Fraud has become common occurrence in business world. And organizations lose considerable chunk of their hard-earned revenue to fraud. Prevention and Detection are two methodologies to handle a white-collar crime like business fraud. Wisest approach towards any illegal and inappropriate activity is to prevent it from occurring in first place. Prevention is the most economical way of tackling fraud. Barriers to Fraud Prevention Fraud prevention is challenged by several barriers which…

The company I have chosen to write my case analysis on is the Hostess Brands. Hostess Brands is known for its iconic baked goods like Twinkies and Wonder Bread. In 2012, Hostess Brands sought bankruptcy in Federal Court due to labor issues and company costs. Hostess’ long history and product brand was coming to an end, due to hard choices the company had to make and the demands of the union. It was a situation that brought about the collapse of a long-standing company amidst the protests of…

The Adelphia scandal is the one the most extensive financial frauds ever happened at a public company. The fraud was long-lasting: the company systematically excluded billions of dollars in liabilities from its consolidated financial statements since at least 1998 till March, 2002. Huge amounts of money were hidden on the off-balance sheet affiliates' books. The company was found in 1952. In 1986 it was publicity listed. Rigas Family owned five cable television companies, which were reorganized…

The trade turnover for the Newport creamery in 1918 was reported at a substantial sum of £34,765. At the Nenagh Quarter Session of the County Court in October, in efforts to recoup the endured losses a claim was lodged by the society for £20,000. The magistrate awarded £12,339 in damages, which also included interest at six percent for the duration of one and a half years on the value of the stock destroyed. Furthermore, an additional fifteen percent was awarded for the increase in the price of…

In the passage," Isabella Stewart Gardner Heist: 25 years of theories", the police and FBI agents discovered that a special piece of artwork was stolen, Rembrandt's Christ in the Storm on the Sea of Galilee. The stolen work of art was worth $500 million dollars, making it known as the largest art theft in American History. Later on, it tells us about our main protagonist, a reporter for the Boston Herald. He tells us about some paint chips he received in1997 from people who were in charge of to…

The United States Congress is the ground for policymaking in our nation. I chose to write about corruption in Congress, because the 535 members of the House and the Senate have the power to place limitations on levying taxes, and solving problems that cause America to be so divided. The legislative branch is able to control almost every aspect of American life in some way. A Princeton University study comparing 1,779 outcomes to what the public actually wanted found that groups representing…

From 2008 through 2012, 481 FDIC insured banks were either liquidated or merged with healthier institutions. Credit Unions saw 136 involuntary liquidations or assisted mergers at the hands of the National Credit Union Share Insurance Fund. In 2009, Credit Unions saw their delinquency for mortgage loans peak at 1.61 percent compared to 8.86 percent at the banks. Many of the largest corporate credit unions in the United States invested in troubled mortgage-backed securities which resulted in…

o With no increase in revenue as the market interest rate went up due to the swapping interest rate deal, so did the debt. Jefferson Country’s lawyers wanted to sue the banks for issuing more than $3 billion in debt that ruined by an inducement scandal. o The county agreed to close the lawsuit in exchange to the $3 billion principal reduced to $1.98 billion and…