AIG / Gen Re 2004 ACCOUNTING SCANDAL Table of Contents I. Introduction 3 II. The Companies and Participants 4 III. The Setting 5 IV. Aftermath 9 V. Conclusion 10 I. Introduction AIG’s accounting scandal is one of the biggest accounting scandals in the first decade of 21st century. In 2004, SEC discovered that AIG rewrote its financial reports for years from 2000 to 2004, with support from Gen Re, one of the biggest reinsurers in the world. This scandal led to reduction of AIG’s
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MEMORANDUM TO: FROM: RE: Keith Roberts case- PTSD and Fraudulent Disability Claims DATE: Question Presented Is eyewitness testimony able to provide evidence beyond a reasonable doubt of intent to defraud the Government through a diagnosis of Post Traumatic Stress Disorder (PTSD) even though essentially it is one mans word against another’s? Short Answer Yes. Evidence from the accident report of the incident in question and interviews with the people recorded to be present
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concluded after she pleaded guilty to embezzling $34 million from her employer, an increase of $2.5 million over earlier estimates. The six felony fraud counts carried a maximum penalty of 120 years in jail, but 15 to 20 years is appropriate under federal sentencing guidelines. Because she cooperated with authorities from the very beginning of their investigation, the judge limited her sentence on November 17, 2010, to 11 years in federal prison, plus restitution to Koss of $34 million. Her physician
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Date: Topic: Information Law Cyber crime involves criminal activities conducted using the internet and both the computer together with the individual behind it are victims. The Australian Institute of Criminology (2011) finds cyber crime to include fraud, hacking, money laundering and theft, cyber stalking, cyber bullying, child sexual exploitation, child grooming and identity theft. The crimes mostly go unreported making it hard to quantify (Australian Institute of Criminology, 2011). However, the
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PREVENTION OF FRAUD AND CORRUPTION IN THE WORKPLACE This paper will discuss the relationship between corporate governance and prevention of Fraud. One can safely argue that corporate governance is a medicine to cure corporate fraud in an organisation. The systems, procedures and policies set by the organisation to curb anomalies such as fraud and corruption largely entail corporate governance. To make this task easier, this paper shall define in detail the meaning of corporate fraud and later proceed
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A View of an Accounting Fraud and Litigation from Inside the Courtroom What the Jury Heard in the PharMor Case 1 In the Phar‐Mor case, several members of top management confessed to, and were convicted of, financial statement fraud. Certain of Phar‐Mor’s creditors and investors subsequently brought suit against Phar‐Mor’s independent auditor, Coopers & Lybrand, alleging the firm was reckless in performing its audits. A jury found the audit firm liable for fraud. While this module can only contain a very small
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making or exceeding a number. Consequently, the auditor invariably gets swept in the wave of reporting mayhem. Unequivocally, management is the first line of defense against fraud. A strong system of internal control serves to minimize fraud. However, no system of internal control, no matter how strong, will guard against fraud in the event of collusion. Indeed, when management engages in misconception and deceit, it makes the financial information repor ted that
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Computer Related Crimes Michael Dill American Military University ISSC351 Computer Forensics Dr. Kevin Harris June 21, 2015 Outline I. Introduction A. Computer related crimes 1. What are computer related crimes 2. Types of computer related offenses 3. The increase in computer related crimes II. Computer related crimes A. What are computer related crimes 1. Legal definitions 2. Perceived definitions B. Types of
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O N O C C U PAT I O N A L F R A U D A N D A B U S E 2012 GLOBAL FRAUD STUDY Letter from the President & CEO More than 15 years ago, the ACFE’s founder and Chairman, Dr. Joseph T. Wells, CFE, CPA, conceptualized a groundbreaking research project to study the costs, methodologies and perpetrators of fraud within organizations. The result was the 1996 publication of the ACFE’s first Report to the Nation on Occupational Fraud and Abuse. Since then, we have released six additional Reports that
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Volume 3 Number 1 2004 Accounts Manipulation: A Literature Review and Proposed Conceptual Framework by Hervé Stolowy, HEC School of Management (Groupe HEC), Department of Accounting and Management Control, 1, rue de la Libération, 78351 - Jouy en Josas Cedex, France and Gaétan Breton, Université du Québec à Montreal, Department of Accounting Sciences, P.O.B. 8888, Succursale Centre-Ville, Montréal (Québec), H3C 3P8 - Canada Abstract Accounts manipulation has been the subject of research, discussion
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