Perjury is known as lying under oath. It is the deliberate, willful giving of false, misleading or incomplete testimony under oath. Mr. Madoff, who is allegedly lost $50 billion in investor money in histories largest documented Ponzi scheme, He plead guilty for stealing vast sums of dollars from individuals and organizations, some of them charitable, by taking their money and pretending to invest it in the stock market, when in actuality he used the money for his own selfish purposes. 1. Name three types of parties who were impacted by the actions of Mr. Madoff and describe how they were impacted.
The Scandal: In 2002, the Securities and Exchange Commission filed charges against Adelphia Communications Corporation; "its founder John J. Rigas; his three sons, Timothy J. Rigas, Michael J. Rigas, and James P. Rigas; and two senior executives at Adelphia, James R. Brown, and Michael C. Mulcahey, in one of the most extensive financial frauds ever to take place at a public company (sec.gov)." The defendants were charged with fraudulently excluding billions of dollars in liabilities from its financial statements by hiding them on the books, falsified operations statistics and inflated earnings to meet Wall St. expectations, and concealing "rampant self-dealing by the Rigas Family, including the undisclosed use of corporate funds for Rigas Family stock purchases and the acquisition of luxury condominiums in New York and
Initially, a criminal investigation was the primary focus for one the Navy’s main ship supplier, Glen Defense Marine Asia, a Pacific Fleet. However, investigators turned their inquiry to another contractor who supplied ships located in the waters of Africa, Middle East, and South America. A whistle-blower who worked for Inchcape Shipping Service, which is owned by the government of Dubai, suspected the company of fraudulent activity as a result ignited a civil fraud investigation to be conducted by The Justice Department. According to the article, it was alleged Inchcape, along with subcontractors, overcharged the Navy by millions of dollars (Drew & Ivory, 2013). The owner of Glen Defense was arrested in September 2013, charged with conspiracy to bribe Navy officials with cash, trips, and prostitutes.
Investigators have determined others were involved in the scheme.The U.S. Securities and Exchange Commission (SEC) has also come under fire for not investigating Madoff more thoroughly; questions about his firm had been raised as early as 1999. Madoff's business, in the process of liquidation, was one of the top market makers on Wall Street and in 2008, the sixth-largest. Madoff's personal and business asset freeze created a chain reaction throughout the world's
The Sarbanes-Oxley Act of 2002 Corporate America took a hard blow to the chin when the reality of bad accounting practices, fraud, embezzling, and other criminal activities took center stage on every media outlet worldwide around the turn of the millennium. American’s began to see firsthand exactly what types of people were running some of the largest organizations in the country and how greed and power could ruin lives. Along with these eye opening realizations, our elected officials were forced to create a way of holding Corporate America accountable for their accounting and business practices and to ensure that the criminal activity that brought down several of the nation’s largest organizations, costing taxpayers millions of dollars
These seven men were either directly or indirectly employees of President Nixon’s re-election committee and many persons, including the trial judge, John J. Sirica, suspected a conspiracy involving higher-level government officials. In March 1973, James McCord, one of the convicted burglars wrote a letter to Sirica charging a massive cover up of the burglary. His letter transformed the affair into a political scandal of unprecedented magnitude” (www.infoplease.com). This affair is known as “The Watergate Scandal.” The Watergate Scandal taught America many lessons, but the three most important lessons learned were elected officials abuse their power, the media is an intricate part of politics and elected
FIN 4634 1. What was the nature of the scandal, and which entities were laundering money? HSBC is one of the top British multinational bank and financial service company in the world. In July 2012, a U.S. Senator released an extensive report on HSBC on investigations of money laundering for Mexican drug cartels and moving cash for international banks with ties to terrorists.
Attorney General Elliot Richardson appointed a special prosecutor, Archibald Cox, to investigate the entire affair; Cox and his staff began to uncover widespread evidence of political espionage by the Nixon reelection committee, illegal wiretapping of citizens by the administration, and corporate contributions to the Republican party in return for political favors (Columbia, 6th Edition). In July 1973, it was revealed that presidential conversations in the White House had been tape-recorded since 1971; Cox sued Nixon to obtain the tapes, and Nixon responded by ordering Richardson to fire him (Columbia, 6th Edition). Richardson resigned instead, and his assistant, William Ruckelshaus, also refused and was himself fired. Solicitor General Robert Bork finally fired Cox in what became known as the Saturday Night Massacre (Columbia, 6th Edition). In July 1974, the U.S. Supreme Court ruled unanimously that such recordings were not privileged and Nixon announced his resignation knowing he would face impeachment if he did not.
(Department of Justice, 2009) That is approximately 18,000 kilograms of cocaine per year in the city of Chicago. The Los Zetas were founded in 1999 by the Mexican Army’s elite forces that left the army and joined with another organization (Gulf Cartel). In 2010, the Los Zetas defected from the Gulf cartel and created their own organization. “The U.S. government says Los Zetas is “the most technologically advanced, sophisticated and dangerous cartel operating in Mexico.” (CNN, 2009) In November, 2010 a drug dealer that was supplied by the Los Zetas Cartel was sentenced to 210 months in prison for conspiracy to distribute and possess with intent to distribute more than
Gorshkov. The trial ultimately resulted in conviction on all twenty counts of the accused and represents the outcome of a large and complex digital forensic investigation following a complaint that included honeypot deployment, undercover operation, remote data retrieval and substantial computer data forensic analysis. The case incidents, investigation and trial span almost two years in duration. On October 10, 2001, in Washington, a jury returned a guilty verdict against Vasiliy Gorshkov, age 26, of Russia, on 20 counts of conspiracy, numerous computer crimes, and fraud. The targets included Speakeasy Network (Seattle, Washington), the Nara Bank (Los Angeles, California), the Central National Bank of Waco (Waco, Texas), and the online credit card payment company PayPal (Palo Alto, California), among others.