management practices. (3) Brief Chronology In late 1991 and extending into February 1992, the UWA Board of Governors ordered an independent internal investigation of long-time UWA President William Aramony for allegations of misuse of funds, fraud, tax evasion and illegal operation of satellite businesses. The investigation emerged in response to information provided (anonymously) by UWA staffers to LaSalle D. Leffall Jr., Chair of UWA’s Executive Committee, to inquiries from a Washington Post
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pleaded guilty to federal fraud charges, Beam being one of them. Richard Scrushy, founder and former CEO of HealthSouth Corp., denied that he was involved in this fraud and 36 of his fraud charges were dropped. But the following year, in 2006, Scrushy and former Alabama Governor Don Siegelman were found guilty of federal bribery charges and are now serving a six-year sentence at a Teaxas prison. Aaron Beam is a co-founder of HealthSouth. In 2005, Beam was convicted of Bank Fraud. He was sentenced to
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Business Law and Corporate Ethics Shawn Greiner May13, 2014 Faculty: Jonathan McGovern BUS2112 A05 Argosy University Online Ethical Concerns of False information Ethical lapses and moral indiscretions can occur under the pressures in today’s marketplace to generate profits. In general, business people, students, customers know the difference between right and wrong! Ethics are related to matters of right and wrong or moral conduct pertaining to marketing communications. Central
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the buyer as well as the seller. 2. What potential contracting problems exist on eBay? Potential contracting problems which exists on eBay are misuse of online marketplace in the form of trading on banned items, selling of damaged products, frauds in the form of non payment of goods after buying or non delivery of goods after selling etc. Also, since it is an online marketplace, it is difficult to judge the authenticity of buyers and sellers in advance. Another potential contracting problem
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CASE 4: ACCOUNTING FRAUD AT WORLDCOM Betty Vinson: victim or villain? Should criminal fraud charges have been brought to her? How should employees react when ordered by their employer to do something they do not believe in or feel uncomfortable doing? In discussing whether Vinson should been charged with criminal fraud, it can be analyzed from ethical perspective which can truly judge whether she was morally responsible for the wrong or not. In order to determine whether Vinson was morally responsible
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Accounting: Accounting Fraud at WorldCom Date: 1/26/2015 3. What are the pressures that lead executives and managers to "cook the books"? The CEO and CFO of WorldCom wanted to “cook the books” because they wanted to keep the company’s stock price growing. Managers and accountants “cook the books” because they are forced to do so by their CEO and CFO. WolrldCom CEO Ebbers believed that increasing the stock price is their number one priority, so he set up a goal for the corporation--“The
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computers and internet, fake ID’s are becoming easier to get, and their quality is improving. Not too long after states find ways of making ID’s harder to duplicate, the counterfeiters are finding a way to make them. Fake ID’s no longer consist of scratching an 8 into a 3. These advances make it hard to tell apart fake ID’s from the real thing. Some websites sell fake ID’s from $50-5,000. Selling fake ID’s over the internet has increased greatly over the past few years. The internet makes fake
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Reporting Practices and Ethics Lindsey Petway HCS 405 December 14, 2014 Professor Jennifer Noren Reporting Practices and Ethics Introduction Success comes from effectively implementing the four elements of financial management: planning, controlling, organizing, and decision-making. These four recognized elements allow health care organizations to adjust the inflow and outflow to achieve the most beneficial outcome. A health
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dollars and eventually realizing he needs to find a different way to bring in a steady cash flow. He becomes a pilot for Pan Am Airlines as a “deadhead” who is a backup pilot and therefore does no actual flying on the plane. Meanwhile the FBI’s fraud division has caught on to Frank’s scams and begins to track him down with one detective leading the investigation: Carl Hanratty. It becomes Carl’s personal goal to find Frank with little to no
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managers resigned unexpectedly. The fraudulent activity was difficult to figure out because it had many layers of fraudulent loan agreements. These loans created a false perception of a successful company. Characterized as a Ponzi scheme, the fraud was using newly invested money to pay off earlier debt obligations. Le-nature falsified invoices, checks, account statements, and other financial documents to verify business transactions and activity that never actually occurred. This falsely inflated
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