A CASE STUDY ON ENRON CORPORATE FRAUD (2001) Submitted by: AMIT SHARMA PGDM (016)/09-11 What is FRAUD? In the broadest sense‚ a fraud is an intentional deception made for personal gain or to damage another individual. The specific legal definition varies by legal jurisdiction. Fraud is a crime‚ and is also a civil law violation. Many hoaxes are fraudulent‚ although those not made for personal gain are not technically frauds. Defrauding people of money is presumably the most common type
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which is crucial in this case because‚ the contract falls under the Statue of Frauds. With the existence of contract laws it is crucial for the employer to be aware of all the laws and theories that surround a contract. In this case Jose Castillo who does not hold a management license‚ orally agreed to assume Barrera’s management and after Castillo helped Barrera settle a few lawsuits and financial problems Barrera stopped communicating with Castillo. With no surprise this case brings up a lot of issues
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Accounting/AIA1010/EB-301/7:30-9:00 Professor Dorega 2010244321 Part 1 Mr. Manuel V. Pangilinan has been a director of PLDT since November 24‚ 1998. He was appointed as Chairman of the Board of PLDT after serving as its President and CEO from November 1998 to February 2004. He is the Chairman of the Governance and Nomination‚ Executive Compensation and Technology Strategy Committees of the Board of Directors of PLDT. He is also a director and the President and CEO of Meralco. He also serves
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mechanism of repression which led to psychoanalysis. In 1886‚ he entered private practice where he specialized in nervous disorders. Sigmund Freud came up with several theories as discussed below. 1. The Conscious And Unconscious Mind This was one of Freud’s theories. According to Freud‚ the human mind is divided into two main parts: the conscious and the unconscious. The conscious mind consists of everything that our mind is attentive to. This includes memory although it is not always part of
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A First Data White Paper Now You See It‚ Now You Don’t: A Review of Fraud Costs and Trends Fraud is more dangerous to your business than you think‚ and treating it as a cost of doing business may be emboldening criminals and costing you customers. A well-designed fraud management program can help protect your customers and improve profitability. By Krista Tedder Product Owner‚ Risk Management and Fraud Solutions © 2009 First Data Corporation. All trademarks‚ service marks and trade names
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Healthcare Fraud - is knowingly and willfully executes or attempts to execute a scheme to defraud any healthcare benefit program‚ or to obtain by false or fraudulent pretense. Therefore‚ in order to prove fraud the government must prove that the act performed was knowingly‚ willfully and intentionally. Healthcare Abuse - is most frequently defined in terms of acts that are inconsistent with sound medical or business practice‚ is an unintentional practice is directly or indirectly results in an over
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Healthcare Fraud and Abuse As we head into the next four years under the Obama administration‚ many Americans are hearing more and more about healthcare reform and what needs to be done to fix the ailing healthcare system. Part of the dramatic increase in healthcare costs is due to Medicare fraud abuse. Healthcare fraud is defined as making false statements or representations of material facts in order to obtain benefits or payment. Healthcare abuse is defined as practices involving the overuse
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Abstract A fraud is an act of deceiving others for personal gain but is not usually followed by a crime. The symptoms of fraud or the red flags help understand the slight difference between a corporate fraud and a corporate crime. The continual financial frauds leading to corporate collapse and the failure of the statutory audit to detect and prevent fraudulent activities of the perpetrators lead investors and the firms and individuals to suffer. This contributed to the increased need for investigating
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tremendous respect on Wall Street (Gregoriou & Lhabitant‚ 2009‚ p. 90). His lines of business included market making‚ proprietary trading‚ and investment advisory services. Madoff used the investment advisory services sector to perpetrate his Ponzi scheme. More than $750 million dollars of stolen funds were transferred to the market making and proprietary trading operations‚ keeping those portions of the business afloat. Madoff needed to support these failing portions of the business to maintain
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CREDIT CARD FRAUD AND THE LAW By A.L.R. JOSEPH SUBJECT: Banking‚ Criminal Law Malaysia [1993] 2 CLJ xii (Apr) Introduction To most consumers‚ credit cards are pieces of plastic - issued to them by their bank or retail shop which allow payment for goods or services - which give them prestige and flexibility. Further‚ they also provide a convenient avenue of obtaining on-the-spot cash. The credit card is a phenomenally successful development of modern banking and retailing based on technological
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