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Timothy A. Clary/AFP/Getty ImagesA Bernie Madoff Halloween mask. Putting together any type of Top 10 list is a dicey business. Once you get past the usual subjects, the criteria for the rest of ...
Ferdinand Ward, financial swindler in the late 1800s; Dina Wein Reis pled guilty to conspiracy to commit wire fraud in May 2011, having duped corporations out of tens of millions of dollars. [60] Richard Whitney, stole from the New York Stock Exchange Gratuity Fund in the 1930s; Whitaker Wright, company promoter, convicted of fraud.
Attitudes/rationalization: The attitude of top management toward financial reporting is a critical risk factor in assessing the likelihood of fraudulent financial statements. If the CEO or other top managers display a significant disregard for the financial reporting process, such as consistently issuing overly optimistic forecasts, or they are ...
Volkswagen emissions violations, fraud in diesel motors pollution measurements; David Wittig "looting" scandals; Xerox [8] [10] alleged accounting irregularities involving auditor KPMG, causing restatement of financial results for the years 1997 through 2000 and fines for both companies [7]
Money for Nothing. Every year, about 90% of consumers either fall for or encounter online scams. And while many consumers are sophisticated enough to avoid some of the most common scams, it doesn ...
Seniors are taking the brunt of financial fraud to the tune of $3.4B+. Learn the most common peer-to-peer, impersonation and other scams on the rise to keep your money safe.
In February 2005, Moshe Leichner and his son Zvi [50] were sentenced to 20 years in federal prison for running a Ponzi scheme [51] [52] that defrauded hundreds of investors out of more than $95 million [53] for investors of GunnAllen Financial [54] (shut down by regulators in March 2010 for fraud allegations and losses related to another Ponzi ...
There's no denying that we all make money-related mistakes, and this past year was no exception. Take a look at some of the top mishaps of 2017.