Securities Exchange Act of 1934

United States Secret service was under the Treasury Department with the mission to prevent fraud against the government. However on March 2003 The United States Secret Service transferred from the U.S Department Treasury to the Department of Homeland Security, which became the United State’s first counterintelligence agency (Reese 2). The United States…

successful and properly operating company who never had to restate their earning from previous years. However, Don Collum VP of Trinity Industries, had described the company in 2003 as a candidate for material weakness as defined by Sarbanes-Oxley Act (SOX). The company was deficient in internal control process in the area of documentation and evidence that controls had been performed which could lead to material weakness. Sarbanes-Oxley (SOX) was created in 2002 because of all the accounting…

Bernie Madoff was a well-respected, intelligent, and charitable individual. Having served on a government regulatory board and as Chairman of the NASDAQ from 1990-93, further entrusted individuals to Madoff (Ferrell, Fraedrich, & Ferrell, 2013). Holding increased titles within the community, Bernie Madoff was respected not only for his business savy, but for his philanthropy. The investment firm operated in an “invitation only” approach that added to the air of a high-class, elitist firm,…

social security numbers for PRE exemptions and the Treasurer receiving bank account information from collecting taxes. Janis circumvented this firewall by making unauthorized copies of PRE forms containing taxpayer’s social security numbers. This gave Janis both taxpayer bank account and social security numbers. The combination of bank account and social security numbers gives Janis Tipton unlimited and unauthorized access to taxpayers bank accounts: Bank Account Number + Social Security…

of 2007 and was interested in learning more. In 2013, the company settled a lawsuit with the Department of Justice concerning their misrepresentation of residential mortgage-backed securities, specifically that employees knowingly securitized loans that did not comply with underwriting guidelines, and those securities were then sold to unknowing investors. The settlement amounted to $13 billion, the largest settlement with a single entity in US history. This year JPMorgan Chase and Co. settled…

Summary of J, C. Penney’s Annual Report Through the creation of a summary of financial reports management such as business executives can have access to information fast. Thus, helping executives identify the most important points showcased in the financial report. A prime example is as simple as a break down on how much business have spent on advertising and marketing during the year. By comparing revenues, profits, expenses, and factoring in the year-over-year changes will help executives…

on Tuesday. Aside from scamming Mark Sanchez out of US$7.8 million, Ash Narayan also deceived San Francisco Giants pitcher Jake Peavy and retired Houston Astros pitcher Roy Oswalt in a Ponzi-like scheme. Based on the lawsuit filed by the Securities and Exchange Commission (SEC) last month, the investment adviser told his clients that their money would be invested in low-risk businesses but actually put US$33 million in Illinois-based online sports and entertainment ticketing firm The Ticket…

felony court judge had explained the laws of France and the revision process results in criminal money-exchange best practices. France is suspected of laundering…

The self-made teenage millionaire Berry Minkow used to be called Whiz kid by founding his own carpet cleaning company, Z-Best, which was net worth over million dollars. After few years, his net worth was accused by bank fraud, embezzlement, and securities fraud which are typically fraud risk and because of insufficient proof as well as fake evidence caused him in jail more than a decade (Video A). 1. Fraud Risk: First of all, fraud risk defined as two different frauds which are individually…

In November 1985, Cardillo had credited some transaction of $203, 210 as an adjusting entry and had been considered as commission received from United Airlines. Yet in the agreement between United Airlines and Cardillo, that amount of money was refundable through 1990 if some stipulations in the agreement were violated. Vice president Lawrence and Chief Executive Officer (CEO) Walter Rognlien insisted that the entry was correct and the disputable amount that had been recorded as commission…