three years. When this report was released to the public‚ the resulting damage to the market value for the company was approximately $14 billion‚ with their stock tumbling from a high of $41 down to nearly $12. At the time‚ this fiasco was the largest case of
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1/14/13 Political machines of fraud and bribery Introduction: Lincoln Steffens published the “shame of the cities” witch was a book based on the corruption in the 1900’s. By 1900‚ many cities in the south of America were controlled by political machines. These organizations consisted of full-time politicians whose main goal was to get and keep politicians power and money and also influence that
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Railroad was authorized to construct a transcontinental railroad with substantial financial support from the federal government‚ officers and directors of the company devised a plan to make an immediate profit from its construction by fraud. The vehicle for this fraud was a company called Credit Mobilier of America. The method was to have Credit Mobilier‚ which was entirely controlled by the same people‚ bill the Union Pacific for the costs of constructing the railroad. There was no "market value"
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Sales at Miniscribe Corp. grew from just over $5 million in 1982 to approximately $114 million in its fiscal year ended in 1985. The 1986 and 1987 annual reports talked enthusiastically about new manufacturing initiatives. MiniScribe’s success continued well into the first half of 1988‚ when the company seemed to be the only disk drive manufacturer in the industry to buck another slump. The improved financial results of the company were mostly fabricated‚ including fictitious shipments to boost
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The advancement in technology in the healthcare industries has not only left its positive landmark‚ but has also left a puzzling effects that are difficult enough for most people o actually sense or detect. This paper attempts to analyze the fraud that is predominately a feature in the healthcare sector‚ unnecessary medical procedures‚ a term which means overutilization‚ overuse‚ or overtreatment. This crime’s expense alone accounts for about a third of healthcare spending in the united states ($750
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such that it removes control over the object. 3. Impallomeni : Not only must you move the object and take it to the sphere of control and take it to the desired destination. Pessina’s theory was used by the Italian code in 1889‚ this created problems in trial but Carrara’s has been best because it is the simplest. Pulizija vs Carmelo Felice‚ (Mamo Notes). In criminal law there is no distinction between owner‚ possessor or the detentor‚ the criminal law does not care. Second element dolosa‚
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powerful law because companies can use it to prosecute employees when they use the rights the companies have given them to carry out fraudulent activities. Other federal laws that address hacking include the following: Computer Fraud and Abuse Act of 1984 The Computer Fraud and Abuse Act (CFAA) of 1984 protect certain types of information that the government maintains as sensitive. The Act defines the term “classified computer‚” and imposes punishment for unauthorized or misused access into one of
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schools for their children‚ keeping up the appearance of greater wealth than he was able to afford as a status symbol (Sutherland‚ 1940). Earl Jones scheme works by simply paying old investors the funds collected with new investors. The fraud can only continue just as long as there was a continued flow of new investors. Jones had made a promise to his clients that they will achieve an above normal rate of return. (Moffatt‚ 2012). In 2005 Jones set up nine mortgages valued nearly two million
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Tartuffe was written by Molière in France in the 19th century‚ during the reign of King Louis XIV. In the play a religious fraud‚ Tartuffe‚ befriends Orgon‚ a rich merchant‚ and persuades him to stay at his house. During this stay‚ Tartuffe masquerades as a priest‚ appearing to be devout and committed to the church. During this time‚ he nearly manages to trick Orgon into letting him marry his daughter‚ Mariane‚ seduce his wife‚ and imprison Orgon. Pikes Peak Community College (PPCC) Theatre Department’s
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picture of how fraud is being penetrated in the financial strength of Nigerian banks. In a nut-shell ‚ the damage which the menace‚ called fraud has done to the banks is innumerable and needs urgent attention. Internal control are measures established by directors relating to the accounting systems in order to check if all transactions made are recorded using the correct figures and if they were executed in accordance with proper general or specific authorisation. Internal Control and Fraud Detection
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