The issue of whether HSBC had an adequately incredible and essential effect in revealing Bernie Madoff is very controversial. However‚ after very careful consideration‚ I believe that HSBC’s role had a sufficiently great and important impact in uncovering Bernie Madoff. To begin‚ Bernard Madoff is significantly pessimistic about whatever is left of Wall Street‚ bringing up that the expansive banks dealt with his money‚ as well as promoted his assets. HSBC says it didn’t realize that extortion was
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Bernie Madoff is claimed to be the largest white-collar criminal in history. I knew of the scheme when he was arrested‚ however‚ I was not aware of the scope of the crime that had been committed. Furthermore‚ The understanding that I gained from The Madoff Affair documentary involving white collar crime is that not only business managers‚ VPs‚ and even lower level employees are able to commit this type of fraud but that the number one person in charge can run a scheme so big that it boasts billions
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Bernard “Bernie” Madoff (NASDAQ) Angela Collier LEG 100 George Asinc June 7‚ 2012 Introduction Bernard Lawrence Madoff was born April 29‚ 1938 in New York City to the parents of Ralph and Sylvia Madoff. His father was a child of a Polish immigrant‚ and worked as a plumber for years. Madoff mother was a daughter of a Romanian and Austrian immigrant‚ she was a housewife. Madoff parents married in 1932 when the great depression was at its height. After struggling financially for years
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involved in the Madoff case? The Madoff case if filled with numerous ethical issues. The case is considered to be the largest scam in our nation’s history. The Madoff case is a great example of how someone who did not care about his profession‚ as well as the all the personal relationships he had cultivated over the years. Bernie Madoff was involved in a scheme called a Ponzi scheme. Madoff would take money from new investors to pay off the current investor’s dividends. Since Madoff promised
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The Bernie Madoff Scandal Introduction: Bernie Madoff‚ an American stockbroker‚ investment advisor chairman of Wall Street firm‚ has operated the largest financial fraud – Ponzi scheme in U.S. history in 2008. Before he was arrested by FBI agents in December 11‚ 2008‚ he was a chairman of Bernard L. Madoff Investment Securities LLC. He founded this Wall Street firm with his family members in 1960. His brother and sons were charge of different and important positions in the company. Before
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Barnard Lawrence Madoff he is an American with a background in stockbroker‚ investment‚ advisor‚ and financier. Barnard Lawrence Madoff had committed largest financial fraud in the United States history‚ with a fraud over $17.179 billion. He was charge money laundering‚ mail fraud‚ wire fraud‚ false statements‚ perjury‚ securities fraud‚ investment advisor fraud‚ and theft from employee benefit plan adding to all these criminal charges he was sentenced for 150 years in prison on June 29‚ 2009. Referring
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There are several ethical issues surrounding the Madoff case‚ but the two that significantly caught my attention was white collared crimes and enhancing the wealth of the rich at the expense of working class individuals. According to the textbook‚ white-collar crime (WCC)‚ is a nonviolent crime orchestrated by highly educated people‚ resulting in deceit‚ concealment‚ subterfuge‚ and other fraudulent activity; consequently‚ WCC does more damage in monetary and emotional loss in one year than violent
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ASC 410 Summary ASC 410 is the accounting standard codification that represents asset retirement and environmental obligations. Under ASC 410‚ there are two main subtopics which are asset retirement obligations and environmental obligations. Asset retirement obligations are legal obligations that may exist in connection with an entity’s retirement of a tangible long-lived asset. These legal obligations may arise when the entity acquires‚ constructs‚ or develops a long-lived asset‚ or operates a
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Problem 17-4A 1. Current ratio = 3.9 to 1 2. Acid-test ratio = 2.3 to 1 3. Days’ sales uncollected x 365 = 33.2 days 4. Inventory turnover = 7.2 times 5. Days’ sales in inventory x 365 = 49.6 days 6. Debt-to-equity ratio ($16‚500 + $2‚200 + $2‚300 + $62‚400) / ($90‚000 + $59‚800) = 0.56 to 1 7. Times interest earned $66‚950 / $3‚100 = 21.6 times 8. Profit margin ratio
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The dilemma presented when faced with a resume containing Bernard Madoff’s firm as a former employer may be complex to some; however‚ from my point of view‚ the dilemma may be resolved by using appropriate and effective selection tools. Dismissing a highly qualified candidate based sole on the reputation or legal troubles of a former employer would be unethical‚ especially since as HR professionals we aspire to be as objective as possible when it comes to selection or hiring decisions. Whether or
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