Ponzi Scheme Corporate Finance A Ponzi scheme is an illegal business practice in which new investor’s money is used to make payments to earlier investors. In many Ponzi schemes, the fraudsters focus on attracting new money to make promised payments to earlier-stage investors and to use for personal expenses, instead of engaging in any legitimate investment activity. The returns are repaid out of new investors’ principal, but not from profits. This can continue as long as new investors line
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Assignment 1: Review of Business Fraud Tara Johnson Professor: Jim Ridilla, CPA ACC 564— Accounting Information Systems May 1, 2012 Assignment 1: Review of Business Fraud Compose a summary of the case. Include how the fraud was perpetrated, the characteristics of the perpetrator(s) who committed the fraud, the role the auditors had in the case, and the direct and indirect effects the incident had on the organization’s stakeholders (customers, vendors, employees, executive committee
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Assignment # 4: Bait and Switch [pic] Law, Ethics, and Corporate Governance 1. Betty drove three hours in one-hundred degree heat. Explain if this fact has any bearing on whether or not the dealer must perform in accordance with the published advertisement. The fact that Betty drove three hours in one hundred degree heat may not necessarily have any bearing on whether or not the dealer must perform in accordance with the published advertisement. However
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timely manner that the customer will not be held responsible for the amount. Depending on the length of time between the fraudulent activity and the reporting of the fraudulent activity the customer could bear a portion of the responsibility. If the fraud is reported within 2 business days the
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WHAT IS CYBER – CRIME? Cyber-crime by definition is any harmful act committed from or against a computer or network, it differs according to McConnell International, “from most terrestrial crimes in four ways: they are easy to learn how to commit, they require few resources relative to the potential damages caused, they can be committed in a jurisdiction without being physically present in it and fourthly, they are often not clearly illegal.” Another definition given by the Director of Computer
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cents less than the expected 82 cents that the company was expected to pay. To cover the difference, Mr. Neil devised a plan to put the extra cost into the following year which all the company the report better-than-expected results. The alleged fraud gave the company a string of earning beats and a strong rise in its stock. It also allowed Diamond Foods Inc the necessary currency needed to clinch a deal to buy the Pringles snack brand from Proctor and Gamble for $2.35 billion. Everything unraveled
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dot com bubble collapse, and the onset of the economic recession. This major loss in revenue, current market conditions, and a large amount of liabilities from all the companies they had been acquiring led WorldCom to their involvement in accounting fraud. 2. What is the boundary between earnings smoothing or earning management and fraudulent reporting? The boundary between income smoothing and fraudulent reporting seems to be more of a blurred line than a distinct one. Both actions will inhibit
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turned out to be a middle-aged wife and mother. When asked the reason of her act, she mentioned that she was diagnosed with schizophrenia and she felt lonely. Schulman decided to turn the documentary into a show and reveal all online relationship fraud to create awareness on fake identities used on social media. In my opinion, fake identities should not be used on social media because it is a crime offence, it is not an ethical act to perform and much worst it creates unnecessary troubles for teenagers
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dissemination of false or deceptive advertisements of consumer products and services. They make sure that the truthful products we buy have the proper labels that are truthful to what they contain. They promote electronic commerce and try to stop fraud on the Internet and develop policies that safeguard online privacy of personal information. They stop fraudulent telemarketing schemes and protect consumers from abusive and deceptive telephone tactics. They require creditors to disclose in writing
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Holden’s problem is not ‘phonies’ but his inability to accept reality.” Do you agree? Holden Caulfield main problem is with all the phonies that surround him and irk him. Reading extensively through the novel; we can confirm that Holden throughout the book is continuously tormented by the acts of these phonies who are superficial and hypocritical. Throughout the novel Holden meets various phonies who commit phony acts. One such case is when he first arrived at the Edmont Hotel and he saw these couples
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