The Enron Scandal One of the most popular business bankruptcies and collapses known to date is that of the Enron Corporation. Enron‚ once known as "America ’s Most Innovative Company" by Fortune Magazine six straight years from 1996 to 2001. Enron seemed to be doing very well until the summer of 2001 generating a lot of cash and new businesses‚ but in October of 2001 Enron was forced to disclose that their accounting practices had been very creative‚ and failed to follow generally accepted accounting
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The Adelphia Scandal In 1952‚ John Rigas purchased his own cable company. By the late 1990’s‚ he had turned it into the sixth largest cable company in the United States with 5.6 million customers. The business was always run as a family style business which led to fraudulent acts among family members and upper level executives. The family has been accused of stealing $3.1 billion from Adelphia and is now facing criminal charges. Adelphia was forced to file chapter 11 bankruptcy and as of April
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Is it greed or simply ignorance which caused the Enron Scandal? Enron once was known as "America’s Most Innovative Company" and as of today‚ known as one of the most popular business bankruptcies and failures. Enron appeared to be doing really well‚ producing a lot of cash and new businesses‚ in October of 2001 that all changed. Enron reported a $618 million third-quarter loss and declares a $1.01 billion non-recurring charge against its balance sheet. Partially related to "structured finance" operations
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The Rampart Scandal When officers from the Los Angeles Police Department’s Internal Affairs bureau began shadowing Rafael Perez‚ watching their fellow cop steal massive amounts of cocaine from evidence lockers in order to sell it on the street‚ investigators thought they had a major misconduct case on their hands. They didn’t know the half of it. The perception of the Los Angeles Police Department has ranged from being the best police force in the United States to being a blatant racist agency
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Running head: CORPORATE SCANDAL 1 Sheri Bardot Ashford University OMM 640 Business Ethics and Social Responsibility Prof. Tricia Devin Corporate Scandal in America: Week 6 March 17‚ 2012 COROPORATE SCANDAL 2 The unethical business practices of Enron‚ Leman Brothers and
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A Strategic Case Analysis: Waste Management Inc. Respectfully Submitted to: Dr. Jifu Wang By: Cliff Aseltine Danny McRea Tejal Modi Ajay Shukla Sean Sullivan Semiinar iin Strategiic Management Sem nar n Strateg c Management Management 6359 - Sectiion 09106 - Spriing 2006 Management 6359 - Sect on 09106 - Spr ng 2006 Team 2 – Aseltine‚ McRea‚ Modi‚ Shukla‚ Sullivan TABLE OF CONTENTS 1.0.0. Executive Summary…………………………………………………………………4 2.0.0. Company History…………………………………………………………………….
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of the Enron Scandal The main problem of the Enron scandal was that they committed business fraud. This is what the root problem of the company was. The sad thing about the Enron scandal was that approximately 22‚000 men and women lost their jobs. Not only did it affect the people who worked for the company but the problem was that it also affected other accounting firms that worked directly with Enron‚ for example the company Arthur Anderson went under because of the Enron scandal and this also
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Contents Introduction 2 Early Career 2 The Firm 3 Sales Strategy 4 Investment Strategy 5 The Scandal 7 He was not alone 9 The Markopolos Whistle 11 The collapse 13 Charges and Sentence 13 The Victims 14 2009 Ponzi Schemes 16 The SEC Failure 17 SEC post- Madoff 19 Hedge Fund Transparency 20 Conclusion 21 Bibliography 25 Tables Table 1: List of Madoff Clients (taken from the "The New York Times"‚ last updated June 24‚ 2009) 15 Table 2: 2009 Ponzi Scheme SEC Charges 17 Figures
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PRIORITY DEVELOPMENT ASSISSTANCE FUND (PDAF) By: PEREZ‚ Chrysalyka C. I. INTRODUCTION PDAF or Priority Development Assistance Fund is a form of pork barrel which has been a very controversial issue in our country today. These are funds given or allocated to government officials in order to support and be spent on community projects and/or repairs and improvements. G. Luis Igaya of Institute for Popular Democracy defined pork barrel
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This paper will explain the fraudulent accounting practices that led to the collapse of Worldcom. Other objectives of this paper will be to demonstrate how these activities were able to go undetected. Also‚ what motives drove the individuals involved to commit these acts. And finally the ethical accounting issues involved. Worldcom got its start as a small discount long distance provider in Mississippi. Founded by Bernard Ebbers and a number of others the idea for Worldcom was simple‚ buy long
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