2013 The Many Meanings of Scandal Themes * Slander * Attacks on personal and public reputation * Take people to court for slander * Print Media * Publicity * Personal Attacks * Gossip * The engine of scandal * Doesn’t have to be true * Public figures * The most likely figures. They invite scandal because they are in the public sphere. Slander has been limited to people who stay private. Etymology of Scandal * Greek meaning – Skandalon
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am detailThe ENRON Scandal is considered to be one of the most notorious within American history-White Collar By misrepresenting earnings reports while continuing to enjoy the revenue provided by the investors not privy to the true financial condition of ENRON‚ the executives of ENRON embezzled funds funneling in from investments while reporting fraudulent earnings to those investors; this not only proliferated more investments from current stockholders‚ but also attracted new investors desiring
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Freddie Mac Fraud Thanaphan Darnsomboon PME604 Project Financial Management National University December 18‚ 2012 Freddie Mac Fraud The definition of fraud is “an intentional deception or deceit‚ perpetrated for profit or to gain some unfair or dishonest advantage” (dictionary.com). Fraud is a breach of law and can be punishable by law. Mortgage fraud is one of the financial crimes where a company materially misrepresents or omits information on its mortgage loan documentation in order to
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Expectation Gap and Corporate Fraud: Is Public Opinion Reconcilable with Auditors’ Duties? Jeffrey Cohena‚ Yuan Dingb‚ Cédric Lesagec‚* and Hervé Stolowyc b Carroll School of Management at Boston College‚ USA China-Europe International Business School (CEIBS)‚ Shanghai‚ China c HEC Paris‚ France a This draft – October 28‚ 2010 – Please do not cite or circulate without permission – Comments welcome Acknowledgments. Cédric Lesage and Hervé Stolowy acknowledge the financial support of the
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Introduction The Adelphia Communications scandal occurred in March‚ 2002 when three of the original founding family members which included the father John Rigas‚ and two of his sons Michael and Timothy‚ along with two other company executives were arrested for improperly taking assets from the nation’s sixth-largest cable television company. The scam involved one of the biggest financial frauds faced by a publically held company. In the end stakeholders were forced to absorb massive losses as
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BANK OF PUNJAB (BOP) SCANDAL OF 9 BILLION RUPEES LOAN TO HARIS STEEL The Bank of Punjab (BOP) hit by a massive scandal‚ a unique fraud that involves billions of rupees. The State Bank of Pakistan expressed its great concern over the Bank’s “system and controls”‚ terming them “quite weak” while the internal audit of the Bank has repeatedly cautioned the management on the huge facilities offered to certain companies. The recipients of the huge loans include owners of some companies that do
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Accounting Fraud at WorldCom LDDS began operations in 1984 offering services to local retail and commercial customers in the southern states. It was initially a loss making enterprise‚ and thus hired Bernie J. (Bernie) Ebbers to run things. It took him less than a year to make the company profitable. By the end of 1993‚ LDDS was the fourth largest long distance carrier in the United States. After a shareholder vote in May 1995‚ the company officially came to be known as WorldCom. WorldCom culture
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what comes to mind for me‚ is the Martha Stewart scandal in 2004. In 2001‚ Martha Stewart had received an inside tip from her stockbroker that her stock‚ ImClone Systems was going to fall‚ so she sold her almost 4‚000 shares in the company to avoid an almost $46‚000 loss‚ the next day the stock fell 16%. Over the next few months‚ Martha’s activies were being investigated‚ she was quesioned and later indicted on nine counts‚ including securites fraud and obstruction of justice. There was a six week
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Fraud in the Business World Sean P. Dixon Business 670: Legal Environment Instructor: Jennifer Stephens April 4‚ 2011 Abstract Americans lose hundreds of millions of dollars each year to fraud. Billions more are lost world-wide to con artists touting the next great investment idea‚ guaranteed loans and diets that can ’t fail. These con artists do not discriminate between the rich and poor‚ the young and old‚ nationality or race. They target the well-educated‚ so-called smart individuals
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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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