Watergate scandal

The fraud that Bernard Madoff committed was discovered in December 2009, which was based upon a Ponzi scheme. He did so by taking money from new investors to pay earnings to old customers. The higher the number of his clients who wanted to withdraw of retire their investment, the more revenue he would need. Ponzi scheme is named after Charles Ponzi whose crime was discovered in July of 1920 by the Boston Post. Madoff started in the investment business legally by buying and selling stocks that…

INTRODUCTION Bernard Madoff was a former chairman of NASDAQ stock exchange. He started his investment advisory firm on his own. He has be guilty for the defrauding of the investors of amount $50 billion which he was running the biggest Ponzi scheme for around two decades. In 2008 December when there were economic disturbances and meltdown in the United States Madoff couldn't carry his functions and satisfy his Investors requests of cash. He decided to come clean and accept the fraud he has…

at the expense of the American consumer. Additionally, Enron used investing companies to hold onto huge amounts of debt and then buy them back at a later date, so as to make the Enron appear profitable. This was seen in the Nigerian Power Barges Scandal, in which Merrill Lynch bought three power barges from Enron only to have them buy them back in a few months, all to allow Enron to avoid reporting this debt. Activities such as these only emboldened the call for regulation and eventually for the…

On the schemes done by Walt Pavlo, many ethical problems were occurred and it will be figured out based on six hyper norms consisting of honesty, fairness, compassion, integrity, predictability, and responsibility and determinants of reputation which are credibility, reliability, trustworthiness, and responsibility. Because of the lapping, account receivable which involved the fraud did not show as old aging receivable. Generally, it can be easily done by a smaller business which has one…

From the case, we know that the Imclone company was almost destroyed due to the conspiracy of Martha Stewart and Peter Bacanovic. The fact is that, in 2001, 28th 0f December, SEC rejected the approval of a kind of medicine. However, before this big day, CEO and her stockbroker sold their stock, making the share price plunged. Thus, Martha Stewart and Peter Bacanovic were convicted of conspiracy, making false statement and interfere with a public function. At the same time, Lawrence Stewart, an…

The article, “The Talent Myth,” by Malcolm Gladwell analyzes the connection between hiring, retaining, and disproportionately promoting employees based on their inherent talents or potential to succeed, an atmosphere which challenges societal norms of rewarding employees based on experience and performance. Not a fan of this myth, Gladwell claims an organization that supports this environment lacks tacit knowledge, promotes narcissism, and creates a decentralized organization system. While the…

Introduction - Historic Enron Financial Scandal The merger between Houston Natural Gas and InterNorth produced Enron in 1985 which started off slowly specializing in the natural gas and then grew to start increasing its product range. Kenneth Lay founded Enron and became Enron’s Chairman and CEO. However, Enron management aggressively decided the need to grow faster, increase investor’s confidence, attract more investments and increase their credit rating. In order to achieve their vision, the…

In the early 2000s, the business world was rocked by a series of scandals in the business sector and many of which involved suspicious accounting activities. One of the largest of these failures was a company known as Enron. Due to their involvement with Enron, the Enron debacle is sometimes referred to as the Enron/ Arthur Andersen scandal. The inclusion of Arthur Andersen in the Enron scandal was due in part to the fact that Andersen handled the accounting for Enron for approximately sixteen…

In current business world, the magnitude of the corporate scandal is huge. In the past 15 years, many directors have breached their fiduciary and legal duty that caused many people loses their money. For instance, the amount of money that lost by the shareholders and stakeholders in Enron Scandal, Lehman Brother Scandal, WorldCom Scandal, Tyco Scandal, Satyam Scandal, and Bernie Madoff Scandal are more than $200 billion. The company can sue the company's director if they breach fiduciary and…

Boston Tea Party The British East Indian Company went into debt after having corrupt management and becoming involved in a war that cost them a great deal of money. This caused me and another seventeen million pounds to be packed into chests and stored in a warehouse. We all started to lose hope as the days went by and we remained unsold. Then an unlikely hero emerged. His name is Lord North, the prime minister of Britain. He originally put a tax on us that resulted in Dutch tea to be smuggled…