Medium of exchange

On July 21, 2002, WorldCom, one of the nations leading companies in Telecommunications, filed for bankruptcy and exposed an $11-billion-dollar fraud, making it one of the largest in all time. Spearheading the scandal were six employees, Bernard Ebbers the CEO, Scott Sullivan the CFO, David Myers the accounting controller, Buddy Yates the Accounting Director, and Betty Vinson and Troy Norman the accountants. The scandal went to federal trial, and after six days of jury deliberation, all six of…

Society's awareness of the crimes of theft and fraud against the elderly have come to the forefront because of media and social awareness. Criminal cases have been publicized to show the extent of these crimes. One criminal case involving the financial abuse of an elderly individual occurred on January 2, 2017, in New Bedford, Massachusetts. Christopher Strose was arrested for stealing more than sixty thousand dollars from his grandfather. “Thirty three year old Christopher Strose was…

I found some existing case literature I thought you might find an interesting compliment for your forum's summary. EEO offenses aren't in my bailiwick so I was curious about international enforcement of the violation. There was a federal case prosecuted out of the Eastern District of Virginia: US v. Kolon Industries, Inc. Kolon is a South Korean company which competes with Dupont in the manufacture of synthetic fiber which Dupont has successfully marketed as Kevlar. Over a period of many…

Austin Sweeting Mrs. Jones Sociology 8:00 21 March 2016 Bernie Madoff's $50 Billion Ponzi Scheme: White Collar Crime After overlooking several different types of crimes I decided to look into the damaging effects of what white collar crimes can cause. Thereafter I then decided to choose one of the most infamous white collar crimes “Bernie Madoff’. The man who almost got away with billions of dollars of innocent investors. We will dive into the shocking story of Bernie Madoff the man who…

Iowa authorities said that Robert K. Miell was approved and bedevilled on Jan. 9 on assets tax artifice in United States District Court in Des Moines. Last week, Miell had pled accusable to 18 counts of mail artifice apropos to an allowance artifice arrangement and cheating renters out of their accident deposits. Additionally, he pled accusable to two counts of perjury. An investigator for the Iowa Allowance Division’s Artifice Bureau baldheaded affirmation of Miell’s arrangement in 2004. The…

Case Study Part 1 of Target Corporations Shannon Mott Kaplan University Abstract Unit 4 Assignment: Case Study Part One of Target Corporations Preliminary Analysis US Securities and Exchange Commission The event that spurred the creation of the SEC was The Great Depression. The SEC was created to “restore investor confidence in our capital markets by providing investors and the markets with more reliable information and clear…

In the case of United States vs. Walter Liew, Liew is being charged with over 20 criminal counts, with one of them being misappropriation of trade secrets (Levine). Liew had gotten paid millions of dollars by a Chinese company to apprehend trade secrets of the American company Dupont in order to solidify the company in China. Liew, 56, living in California, received 28 million in order to bribe engineers and other employees for confidential paperwork that the Chinese company wanted. What was the…

November 10, of 2016, in the city of Hollisworth, started out as another ordinary day. No Evil Villains Roamed the streets so the cities super hero, The Cantil, had nothing to worry about. Agent 30 and Agent 91 completed their morning routine. They made sure ever vault in the Prison for Super Villains was secure. They started to walk back to the main desk as Agent 30 asked, “You checked Vault 1 through 50, right?” “Yeah, and you checked Gordon’s vault, there was nothing wrong there?” “Mhm. But…

Unfortunately in the corporate world there had been internal fraud committed by employees no matter what type organizations they are-nonprofit or profit-and this situation occurs more than anyone thinks it does. Embezzlement happens most frequently to not for profit organizations that have not taken active steps to prevent it. In addition, once any type of fraud or financial mismanagement is detected, many nonprofits do not handle the information properly or understand their responsibility;…

IT’S hard enough to believe that beneath the sincere image of a contemporary investor, Bernard Madoff, is an exploiting individual. After taking a glance at the decisions he made under his economic façade, there seems to be more than what meets the eye. During a past family breakfast, I remember hearing his name constantly brought up on 9 News. When we heard the broadcast, it appalled me to learn that Madoff was involved in a scandal where he deceived legitimate contacts into pooling large sums…