Kenneth Lay former CEO was indicted on 11 criminal counts of fraud and making misleading statements. Jeff Skilling was indicted on 35 counts of wire fraud, securities fraud, conspiracy, making false statement on financial reports, and insider trading. Hence both were responsible for collapse of Enron. There are a several reasons that led to Enron’s collapse namely; a corrupt leadership at the top, violation of laws that were not impose by the company’s CEO, and Lack of regulation Enron had one of the best ethics code in the industry. First, not work out with written ethics and compliance codes clearly describe how was the company collapse, moreover corruption from leaders at the top and middle level of organizations is a recipe for disaster.
It’s scary that although Northrop Grumman has been implicated in numerous scandals continues to have a military contract. It seems as if Northrop Grumman’s subsidiaries followed suit after its parent company. For example, Ingalls Shipbuilding , a subsidiary of Northrop Grumman, had to pay $2.25 million dollars in a settlement with the Navy in a False Claims Act suit. Ingalls reportedly fraudulently exploited an accounting practice in order to shift certain costs to Navy contracts, instead of the Israeli contracts. http://en.wikipedia.org/wiki/Northrop_Grumman#Controversies http://contractormisconduct.org/index.cfm/1,73,221,html?ContractorID=42&ranking=4 http://contractormisconduct.org/ass/contractors/42/cases/196/460/harkindefazio.pdf
However, he had become more and more greedy. Finally, he manipulated the company’s resources to use for his personal purposes, which is the beginning of the end. The case discusses unethical and illegal actions taken by Tyco’s former CEO Dennis Kozlowski, CFO Mark Swartz, and some other members of the board of directors. Those actions have caused much damage to Tyco Corporation and led to the criminal investigation by the court. According to the author’s viewpoint, many scandals have happened because of the following illegal behaviors.
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.
The year after he arrived, Vassall (who was homosexual) was encouraged by the KGB to become extremely drunk at a party, and was photographed in a compromising position with several men. The KGB used these photographs to blackmail Vassall into working for them as a spy. During his career, Vassall provided the Soviets with several thousand classified documents, including information on British radar, torpedoes, and anti-submarine equipment.
There is Martha Stewart, Ivan Boesky, and Michael Millken who were found guilty for fraudulent activities. Martha Stewart was an American Business magnate, media personality, and magazine publisher. Her ventures focus on homemaking. Martha Stewart was under investigation for selling hundreds of shares of ImClone Systems just prior to the Food and Drug Administration’s refusal to approve the company’s new cancer drug. In June 2003, she was charged with securities fraud, obstruction of justice, conspiracy and making false statements to prosecutors and the FBI (Marks, A, 2004).
Why have Somali pirates been such a threat in the Indian Ocean? The country of Somalia has been a threat to international shipping since the second development of the Somali civil war-costing an estimated ten billion pounds a year in global trade. The map above shows the region of Somalia and its waters. It shows the attacks when they first became a major threat back in 2008. It also show an attack carried out by a navy in the area on Somali boats (e.g.
The chain of events that triggered the probe that ultimately uncovered David Petraeus' affair started with harassing emails sent from dummy accounts operated by the spymaster's paramour, Fox News has learned. The new details help clarify the somewhat confusing narrative regarding how the head of the CIA ended up in the FBI's crosshairs in the first place. Fox News confirmed Sunday that it all started when another woman, 37-year-old Jill Kelley, a close friend of the Petraeus family, received harassing emails. She then alerted the FBI, where a friend of Kelley's works, about the emails that appeared to be an attempt to blackmail Petraeus, which started the investigation, sources said. But there were initially questions over where those
Lately afterwards, Monica Lewinsky scandal and impeachment of President Clinton were follow-ups to the Jones case. A third case that also took place in 1991 was the “Tailhook” scandal involving sexual allegations against the armed forces (“Five”). A former Navy lieutenant Paula Coughlin was among the women who alleged she was assaulted during a conference held at the Vegas’ Hilton Hotel. Her organization didn’t continue her investigation, yet retaliated against her. In the end, she was awarded $1.7 million for compensatory damages and $5 million for punitive damages.
In 2002, a high ranking government official in the Yugoslav Republic was busted for participation in a human trafficking ring. Donna Hughes a professor at the University of Rhode Island said the following in a speech about the requirement of government participation