The University of California was in error of poor ethical codes. Bin Han would not have gone through all of this if the University had better control of business research. There were others that felt the repercussions of this case. A California State Legislator, Judy Chu, has said this case had the same type of allegations as a former one, Dr. Wen Ho Lee, a physicist, charged with stealing classified materials. Asian Americans are said to be marked by these types of actions.
Nick had started out his career as a strike-force Agent; their basic function was to uncover possible criminal activities. Their duties often consisted of undercover work. The book explains some terms used in the industry along with some statistics, and IRS history. For example, in 1998 Congress prohibited financial status or economic reality techniques to determine the existence of unreported income unless an agent has a reasonable indication that there is a likelihood of unreported income. The targets of Special Agents who work for TIGTA are dishonest Treasury Department employees, as well as government officials and employees.
21819 Securities and Action No. CV 11-0092-PHX-DGC, where charges were formally brought forth against the senior management of the corporation. Prior to the indictment, the SEC formally charged NutraCea, two accounting personnel, and three executives for the unlawful engaging of fraudulent accounting in order to inflate the entities sales revenue. The corporations overstatement of sales revenue for both the 2nd and 3rd quarters of the 2007 fiscal year was done as a result of the corporation engaging in unethical activities of revenue recognition and by recording falsified sales. Those that were employed by NutraCea and were found guilty of engaging in improper activities and were charged by the SEC were former CEO Bradley David Edson, Secretary Todd C. Crow, Senior VP Margie Adelman, Director of Financial Services Scott Wilkinson and Controller Joanne D. Kline.
Adelphia Communications Corporation Scandal Sheewane Davis Strayer University Professor Powell July 22, 2013 In Senator Sarbane’s own words, the problems that led to the creation of SOX were “inadequate oversight of accountants, lack of auditor independence, weak corporate governance procedures, stock analysts’ conflict of interests, inadequate disclosure provisions, and grossly inadequate funding of the Securities and Exchange Commission (U.S. Securities and Exchange Commission, 2002).” Senator Sarbanes intentions were good and it create an oversight that would deter financial fraud but it just wasn’t enough. Even after the “Three Big Scandals” from 2000 to 2002 Enron, Tyco, and Worldcom who were the original cause of SOX coming about Adelphia Communication Corporation took the cake in 2004. Looking at Adelphia one would believe that the SOX act was created for all other organizations and excluding theirs. As a “family owned” corporation the Rigas family did everything an organization should never do and that is mix one’s personal finances with those of the organization. The SEC called Adelphia’s acts “the worst case of financial fraud in a public company” (U.S. Securities and Exchange Commission, 2002), to me this proves my point and that is that more actions need to be taken to nip unethical business practices in the bud.
In this context, what kinds of problems can arise? Solution: In the corporate form of ownership, the shareholders are the owners of the firm. The shareholders elect (vote) the board of directors of the corporation, who in turn appoint the firm’s management (CEO). This separation of ownership from control in the corporate form of organisation is what causes agency problems to exist. Management may act in its own or someone else’s best interests, rather than those of the shareholders.
However, the traders were fired once it was revealed that Enron's reserves were gambled away which nearly destroyed the company. After these facts were brought to light, Ken Lay denies having any knowledge of wrongdoing. Needless to say, when required to testify before the U.S. Congress on the reasons for Enron’s collapse, Ken Lay, Jeff Skilling and Andrew Fastow, sought refuge under the Fifth Amendment. Andrew Fastow, Jeffrey Skilling, and Kenneth Lay are among the most notable top-level executives implicated in the collapse of Enron’s. Kenneth Lay, the former chairman of Enron was prosecuted on 11 criminal counts of making misleading statements and fraud.
The presentation, Whistleblower Fired for Exposing Truth/Corrupt Government Contractor, followed a former director of American Eagle, John Jack. Jack discovered information uncovering a huge scandal involving American Eagle. American Eagle was contracted by the Navy to oversee a military housing project in which Jack revealed his company had illegally billed the Navy, with no trace of where the bulk of the money was being spent. This is where the “problem” arises within principal-agent model. Even though Jack was able to prove there was fraudulent activity going on within his own company, his choice to expose the information to the Navy caused him to lose his position as director on the project at American Eagle.
Deanna Earle MGMT 1125 George Erwin September 6, 2012 Case Study 5: The HP Pretexting Predicament 1. What are the ethical issues in this case? In this case their wee a ethical issues that had to do with the corporation and the individuals involves with it. Board member were untrusting and also used work phones and emails to leak information to the public. George Keyworth was not a ethical person because he leaked confidential information and also let a investigation be opened, instead of being honest.
It is trust that makes the business world possible…Business is all about trust. Dishonesty violates trust and raises suspicions”(Ciulla，36). Here is a dishonest leadership example about the CEO of Yahoo. Scott Thompson the CEO of yahoo cheated to the public that he had earned a bachelor’s degree in computer science when in fact he only had a degree in accounting. What was even worse was that he tried to cover it up by first claiming innocence.
Jean Paul Francois Mercy College 01/28/2014 Business, Government and Society Union Carbide Corporation and Bhopal 1- The government of India should be responsible for the most part of the accident because they establish laws that require the company to be run by Indian, instead of foreign managers who might be more knowledgeable or have more experience. * Union Carbide should bear a very large portion of the blame because the company should have thought about not building a chemical plant near a residential area. * The plant workers should be blamed seriously for the accident because of their carelessness. When the supervisor ordered R Khan to unclog the filter valves and to wash them out with water. Their negligence and careless washing method caused the explosion.