At the time of his plea, prosecutors said Grass admitted to a series of illegal activities, from backdating contracts and severance letters to misleading the company and federal investigators about a $2.6 million real estate deal. They said he also met with employees called to testify before the grand jury and encouraged them to lie. During Grass' time at the head of the Camp Hill-based company founded by his father, Alex Grass, its stock price soared as Rite Aid engaged in an aggressive expansion effort. But the grand jury said the boom years were accomplished by "massive accounting fraud, the deliberate falsification of financial statements, and intentionally false SEC filings." Less than a year after
The evidence that surfaced was able to link Nikon to destroying key documents to cover-up of the break in as well as uncovering that the Nixon reelection committee had run “dirty schemes and tricks” during the campaign against the Democrats. It also shed light on the administrations illegal wiretapping of phones of “the enemies” or journalists that had been extremely critical of Nixon. Even though Nixon continued to maintain that he was innocent it was later revealed after numerous attempts to obtain the evidence that he secretly taped routine conversations that were had in his office. After the amount of incriminating evidence and the endless wonder about the depth of his involvement on August 8, 1974 during a televised special announcement Richard Nixon gave a one line speech vaguely admitting his involvement and public stepping down from office as President. He was succeeded by Gerald Ford who later pardoned Nixon from his crimes.
The stockholders in this case filed a lawsuit against Beazer and some of its officers for "issuing false and misleading statements regarding the company's business prospects and not disclosing facts the defendants knew related to alleged improper lending practices in its mortgage origination business" (Burney, 2009, p. 1). This case was settled with Beazer's insurance company paying $30.5 million. In this case, the restatement of past financial statements wreaked havoc on Beazer Homes USA. It began with an internal investigation, which led to an investigation by the SEC and ended with several lawsuits and large quantities of money being spent to settle
Institutions Over the past few years, the nation has been temporarily outraged by many different government scandals such as the leak of a CIA agent’s cover by their own government; the firing of United States Attorneys who weren’t blindly loyal to the administration; the suspension of habeas corpus rights, the friendly-fire death and subsequent cover-up of soldier Pat Tillman; the warrantless wiretapping of American citizens. That last scandal is in the news again, because the President managed to have the laws changed retroactively, so his once-illegal surveillance program is now the law of the land. The military has covered up many things that have happened in the past to prevent from ruining their reputation and to discourage people from
Holding The trial court found that the defedant was negligent as both attorney and officer and fined him $243,722.99. Musselman appealed this decision saying that he lacked the capacity to act as officer and/or attorney. Rationale The trial court found that their decision will be affirmed because not only did Atty Musselman have the capacity to work as attorney and officer but he did so and he did not inform the corporation that Hurt wanted to be ecused from all personal
The Watergate was an American political scandal which occurred when Richard Nixon, the 37th President of the United States, was running for reelection against his democratic rival, George Stanley McGovern. During the election, the democratic national headquarters at the Watergate office complex in Washington DC were broken into and bugs were planted, and it was later revealed that the five burglars had ties not only to the government, but to the White House itself. During this investigation, FBI prosecutors discovered that the Director of the FBI, L. Patrick Gray, had helped with the
It took William Jefferson Clinton seven month to realize that people need apologies not for the deed, but for the lies. A close look at the speech opens a wide range of elements did not manage to make it truly appealing for the citizens of the United States of America. In his speech, Mr. Clinton admitted he did a wrong thing and at the same time he did not truly show how much he regretted that his “misbehavior” lead to irreversible consequences in his private and political life. The key failure of the speech is that Mr. Clinton moved the accent away from the affair he had to the necessity to concentrate on more important things. In other words he told the society that they are stuck on unserious matters, while important political events are taking place.
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.
As the case illustrated, there were dozens of serious and valid red flags that SEC was bombarded with by efforts made from Harry Markopolos. One alternative solution is for SEC to properly review the case itself, along with closely monitoring those assigned and affiliated with the case. From reading the case, it appears that one of the major flaw can be traced back from the audit work that was performed. It’s noted in the case that Bernie Madoff presented a purely fictitious financial statements to SEC for review and nothing alarming was discovered. Furthermore the case stated that there was actually no audit work that was done, and Madoff’s cousin was the sole practitioner conducting the audit.
It also included his associates going through patient charts to see who would be a good candidate for a meaningful civil lawsuit. As Brusier continued to operate his firm on many illegal pretenses...the FBI joined in on an investigation with the police against him and Prince on corruption charges that included jury tampering, tax evasion and them running a money skimming operation. Deck Shifflet (played by Danny DeVito) was a less than ethical avid “paralawyer” in Bruiser’s law firm that had a haunch based on newspaper articles that Bruiser’s firm was in jeopardy and was going to be investigated and shutdown. So therefore, he convinced Rudy to join him in partnership and bolt from Brusier’s firm by acting fast and taking 3 of the files that