Zzzz Best Company, Inc. Case 1.9 Case 1.9 ZZZZ Best Company, Inc. Delta. Describe the elements of the Fraud Triangle that apply to this case. Assume you are the perpetrator. Is there a better way to perpetrate this fraud? If there is, describe your method. Specify practical recommendations for the client to prevent this fraud from occurring in the future. The first element of the Fraud Triangle in the case of ZZZZ Best, case 1.9 is Incentives/Pressure. Incentives/Pressure- As a result
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25-year imprisonment regarding the crime of stock and accounting fraud. Before WorldCom, the world had seen several cases of famous, or infamous, financial and accounting frauds, including Enron, Tyco, Aldelphia, Global Crossing and HealthSouth. Such cases, we can say, were quite complicated to trace, but WorldCom used a simple recipe to cook the book, which will be illustrated below. HOW DID WORLDCOM COOK ITS BOOKS? To understand the fraud occurring at WorldCom, we should basically understand the difference
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Vanessa Wells American InterContinental University CRJS205-1202B-04 Introduction to Criminal Law May, 20, 2012 Abstract The paper describes the meaning of fraud and embezzlement; the types of crimes committed in such cases and the penalties that are faced with the various types of theft that involve public funds. Examples of cases are discussed to help give the reader an idea of the situations that arise and the consequences that come along with them. There also is a brief explanation
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Examining a Business Failure Paper Rhonda Ellis-Thomas LDR/531 May 30, 2012 Dr. Felicia A. Bridgewater Examining a Business Failure Paper 2002 has witnessed its share of scandals. Enron, WorldCom, Tyco, and Global Crossing are just a few names to mention. WorldCom, the nation’s No. 2 long-distance phone company, filed for Chapter 11 bankruptcy protection in July 2002, approximately one month after it publicized that it had indecorously
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ZZZZ Best company Inc. Summary “ZZZZ Best company” was founded by 16-year old Barry Minkow. The core activity of company was carpet cleaning. As he began doing business, Minkow soon realized that carpet cleaning was a difficult way to earn money because customers always complained and vendors demanded payments. Soon Minkow started seeking for financing but realized that bank were not willing to lend him money due to his age and low profitability of his business. That’s why he came up with the
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Main Entry: fake [feyk] Show IPA Part of Speech: adjective Definition: false, imitation Synonyms: affected, artificial, assumed, bogus, concocted, counterfeit, fabricated, fictitious, forged, fraudulent, invented, make-believe, mock, phony, pretended, pseudo*, reproduction, sham, simulated, spurious Notes: a fake is a work of art that is deliberately made or altered to appear better, older, or other than what it is; a forgery is a fraudulent imitation of another thing that already exists
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Veronica Cantu Accounting Information Systems Written Assignment –Week 2 Gary Foster, a former vice-president for Citigroup, pleaded guilty to one count of bank fraud in Brooklyn, New York. Foster embezzled 22.9 million from the bank in a period of eight years, between September, 2003 and June, 2011. The fraud was detected after an internal treasury department audit. Foster joined Citigroup in 1999 after graduating from Rutgers University with an accounting degree. He climbed the corporate
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Need of Cyber Crime Law In India Abstract A Cyber space is a virtual space that has become as important as real space for business, education and politics. The growing danger from crimes committed against computers, or against information on computers, is beginning to claim attention in the India. The digital age has dramatically changed the scope of a crime by adding the electronic component and it comes a new form of science ≴Computer Forensic Science≵. Computer Forensic allows for the evidence
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problems? eBay addresses these problems by insuring the buyers for non-delivery/damaged delivery of products. It also establishes in-house fraud prevention and escrow services to prevent fraudulent transactions. eBay also has one of the best payment mechanisms in the industry. Further, it blocks people for future transactions who have committed frauds on the website. 4. What are the contracting costs at eBay? The costs would be costs related to website maintenance, costs in the form
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the first chapter of Principle of Cybercrime, Clough describers the various definitions of cybercrime. It can be defined as crime that committed through internet on a computer. It uses computer as a tool to commit the crime like child pornography, fraud, copyright, piracy and etc. However, computer can also be a targeted victim. There are various types of cyber crime such as hacking, spamming, malware, and etc. More serious, cybercrime can move on to cyberterrorism which the attack on a computer is
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