Corruption in Wal-Mart: Bribery Scandals within the World’s Largest Foreign Subsidiary Omar Morales National University The retail industry is a very challenging and demanding industry, especially for a retail giant like Wal-Mart. Wal-Mart currently operates in 27 countries with 10, 130 retail units and was named the world’s largest company by revenue on the Fortune 500 list for 2011 (Corporate & Financial Fact Sheet, 2012). Due to its large success, it has been able to position itself in a globalized market. This success, however, has come with plenty of notoriety and headline news. Recently, Wal-Mart has been under scrutiny for bribery scandals in its largest foreign subsidiary, Wal-Mart de Mexico.
FINK-403 Case Studies in Finance The Rise and Fall of Michael Milken 4/9/2014 The Rise and Fall of Michael Milken Michael Milken is known for many things. He is known to many as the “junk-bond king”, the “leveraged-buyout king” an innovator who changed the face of financial securities, to others he is seen as a crook who allowed his greed to beat out his integrity in order to make himself and those around him wealthier. The truth, as in most cases, is more than likely to fall somewhere in the middle. Michael Milken’s story is one with many highs and very few lows, while those lows would be considered catastrophic for some, Michael Milken conducted himself with a grace that very few people possess. He weathered the storms he was confronted with throughout his life and continued to remain on top.
Merrill Lynch called the SEC to report suspicions of insider trading in ImClone. Stewart told the SEC that she instructed Bacanovic to sell her shares if the price fell below $60. Faneuil went to Merrill Lynch and confessed. He pled guilty to a misdemeanor charge for accepting money for not informing the investigators of illegal conduct. He was the prosecutor’s main defense.
BDO Seidman * Accounting firm based out of NYC iii. Arthur Anderson * Accounting firm based out of Chicago * Was one of the “big five” C. Third Parties iv. Corporate Shareholders v. Creditors II. Background Information D. Leslie Fay Company * John Pomerantz used the skills he learned dressed the Women’s Army Corp in World War II, to create women’s apparel manufacturer Leslie Fay in 1947. * Hired Paul Polishan right out of college, as an entry level accountant, but he quickly rose through the ranks to become the company’s Chief Financial Officer.
Fashioning a Fraud Case Study Accounts payable By goldiebrown4380 Aug 20, 2011 616 Words 84 Views PAGE 2 OF 2 In this article, Bobbie Jean Donnelly was a fraudster who used Travel and Expense reimbursements to defraud her company. Donnelly figured out how to manipulate her travel and expense reimbursements to eventually defraud her company of about $275,000. Had her company had proper controls in place for travel and expense reimbursements, wouldn’t have occurred to this magnitude. Donnelly was targeted in an internal investigation because she was one of three employees with the highest amounts of travel and expense reimbursements hers totaling, $115,000. One of the red flags in the case was the fact that Donnelly’s supervisor had only submitted $40,000 in travel and expense reimbursements that year.
CASE 1.4 HEALTH MANAGEMENT, INC. Synopsis This case profiles an imaginative accounting fraud orchestrated by two top executives of Health Management, Inc. (HMI), a New York-based pharmaceuticals distributor. The HMI fraud is noteworthy because it led to the first major test of an important federal statute, the Private Securities Litigation Reform Act of 1995 (PSLRA), that was intended to alleviate the growing burden of class-action lawsuits filed against accounting firms and other third parties under the Securities Exchange Act of 1934. (The PSLRA amended key provisions of the 1934 Act.) The PSLRA makes it more difficult for plaintiffs to successfully “plead” a case under the 1934 Act, that is, to have such a lawsuit proceed to trial. Among other provisions in the PSLRA is a proportionate liability rule.
Reed Slatkin Fraud Case For my fraud case study, I chose to do it over Reed Slatkin for investment fraud. He was considered to be the perpetrator of the largest Ponzi scheme in the United States since that conducted by Charles Ponzi himself. Slatkin was born in Detroit, MI and was an initial investor and co-founder of EarthLink. Slatkin was also an ordained Scientology minister and long time supporter of the group, as were many of his victims. Reed Slatkin acted as an investment advisor for over 15 yearsin stock trading and money management.
Furthermore, BH’s ownership of the MidAmerican Energy Holdings allowed Pacificorp to benefit from synergies that arose by the acquisition. Q2. As it is stated, the implied enterprise value of Pacificorp ranges between $6,252bn and $9,289bn. Therefore BH has acquired the company at a significantly higher price than it was expected (9.4bn) due to an expected and analyzed higher intrinsic value of the company. Questions connected to this fact concern the background of Buffets excessively high bid for Pacificorp.
Lowering Sales Quota at Wells Fargo Bank Prepared for: Patrick Nygren SVP Regional Banking Area President at Wells Fargo Greater Philadelphia Area Prepared by: Shakeya Covin Lead Teller at Wells Fargo Bank Upper Darby Branch August 13, 2014 MEMORANDUM TO: Patrick Nygren, SVP Regional Banking Area President FROM: Shakeya Covin DATE: August 4, 2014 SUBJECT: Lowering Sales Quota at Wells Fargo Bank One of the largest banking and financial services holding companies in the world, Wells Fargo is a powerful political player and is the nation's leader in selling add-on services to its customers. The company, which is considered one of the four major banks in the United States, does business with one in three households in the U.S. Besides traditional banking services, Wells Fargo is a big issuer of credit cards and is the largest retail mortgage lender in the United States. The cornerstone of Wells Fargo’s sales is a strategy called cross-selling, in which Wells tries to sell additional products to existing customers. That means pitching checking-account holder’s new mortgages, mortgage holder’s new credit cards and card holder’s new bank accounts.
This crime is a growing threat Early this year, Sky News Investigator Jason Farrell reported that Identity fraud has risen to a record level according making it more likely for people to have their identities stolen. Criminals now use online methods like hacking, malware or Phishing emails to steal people’s personal information. Most astonishing is that identity theft makes up 58% of all fraud. An individual might not know straight away if their indentity has been stolen. Therefore it is important that they protect their details and are aware of any signs that their identity might have been stolen.