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Fraud Discovery Institute
The Fraud Discovery Institute was an investigative unit that sought to assist in the prosecution of perpetrators of corporate fraud. After the Institute had researched an alleged white-collar crime, it would give a report to the FBI, which could then find and arrest the criminals. The Fraud Discovery Institute was founded by Barry Minkow in 2001 Minkow had been released from prison in 1995, where he was serving a sentence for a Ponzi scheme involving a carpet-cleaning company called ZZZZ Best. Other former convicts were also involved in the Fraud Discovery Institute; the rest of the team was composed of auditors. In September 2011, Barry Minkow was returned to prison after making false statements in the Fraud Discovery Institute's reports.{{cite news, url=http://latimesblogs.latimes.com/money_co/2011/09/barry-minkow-heads-back-to-prison.html, title=Barry Minkow heads back to prison, work=The Los Angeles Times, accessdate=2011-11-02, date=2011-09-20 Nonetheless, he managed to defr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Corporate Fraud
In criminology, corporate crime refers to crimes committed either by a corporation (i.e., a business entity having a separate legal personality from the natural persons that manage its activities), or by individuals acting on behalf of a corporation or other business entity (see vicarious liability and corporate liability). For the worst corporate crimes, corporations may face judicial dissolution, sometimes called the "corporate death penalty", which is a legal procedure in which a corporation is forced to dissolve or cease to exist. Some negative behaviours by corporations may not actually be criminal; laws vary between jurisdictions. For example, some jurisdictions allow insider trading. Corporate crime overlaps with: * white-collar crime, because the majority of individuals who may act as or represent the interests of the corporation are white-collar professionals; * organized crime, because criminals may set up corporations either for the purposes of crime or as vehicle ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
White-collar Crime
The term "white-collar crime" refers to financially motivated, nonviolent or non-directly violent crime committed by individuals, businesses and government professionals. It was first defined by the sociologist Edwin Sutherland in 1939 as "a crime committed by a person of respectability and high social status in the course of their occupation". Typical white-collar crimes could include wage theft, fraud, bribery, Ponzi schemes, insider trading, labor racketeering, embezzlement, cybercrime, copyright infringement, money laundering, identity theft, and forgery. White-collar crime overlaps with corporate crime. Definitional issues Modern criminology generally prefers to classify the type of crime and the topic: *By the type of offense, e.g., property crime, economic crime, and other corporate crimes like environmental and health and safety law violations. Some crime is only possible because of the identity of the offender, e.g., transnational money laundering requir ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Infobase Publishing
Infobase Publishing is an American publisher of reference book titles and textbooks geared towards the North American library, secondary school, and university-level curriculum markets. Infobase operates a number of prominent imprints, including Facts On File, Films for the Humanities & Sciences, Cambridge Educational, Chelsea House (which also serves as the imprint for the special collection series, "Bloom's Literary Criticism" under the direction of literary critic Harold Bloom), and Ferguson Publishing. History The private equity firm Veronis Suhler Stevenson bought Facts on File and Chelsea House in 2005. Infobase bought Films for the Humanities & Sciences in 2007 and the '' World Almanac'' in 2009. In 2017, Infobase acquired The Mailbox lesson plans and ''Learning'' magazine. Veronis Suhler Stevenson sold Infobase to another private equity firm, Centre Lane Partners, in 2018. As well as nonfiction works in print, Infobase and its imprints publish a selection of works in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Barry Minkow
Barry Jay Minkow (born March 22, 1966) is a former American businessman, pastor, and convicted felon. While still in high school, Minkow founded ZZZZ Best (pronounced "Zee Best"), which appeared to be an immensely successful carpet-cleaning and restoration company. However, it was actually a front to attract investment for a massive Ponzi scheme. ZZZZ Best collapsed in 1987, costing investors and lenders $100 million in one of the largest investment frauds ever perpetrated by a single person, as well as one of the largest accounting frauds in history. The scheme is often used as a case study of accounting fraud. After being released from jail, Minkow became a pastor and fraud investigator in San Diego, and spoke at churches and schools about ethics. This came to an end in 2011, when he admitted to helping deliberately drive down the stock price of homebuilder Lennar and was ordered back to prison for five years. Three years later, Minkow admitted to defrauding his own church and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
San Diego Reader
The ''San Diego Reader'' is an alternative press newspaper in the county of San Diego San Diego ( , ; ) is a city on the Pacific Ocean coast of Southern California located immediately adjacent to the Mexico–United States border. With a 2020 population of 1,386,932, it is the eighth most populous city in the United States .... It was founded in 1972 by Jim Holman. It is noted for its literary style of journalism and coverage of the arts, particularly film and theater. Published weekly since October 1972, the ''Reader is'' distributed free on Wednesday and Thursday via street boxes and cooperating retail outlets. References External links {{Portal, CaliforniaThe ''San Diego Reader'' website [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ponzi Scheme
A Ponzi scheme (, ) is a form of fraud that lures investors and pays profits to earlier investors with funds from more recent investors. Named after Italian businessman Charles Ponzi, the scheme leads victims to believe that profits are coming from legitimate business activity (e.g., product sales or successful investments), and they remain unaware that other investors are the source of funds. A Ponzi scheme can maintain the illusion of a sustainable business as long as new investors contribute new funds, and as long as most of the investors do not demand full repayment and still believe in the non-existent assets they are purported to own. Some of the first recorded incidents to meet the modern definition of the Ponzi scheme were carried out from 1869 to 1872 by Adele Spitzeder in Germany and by Sarah Howe in the United States in the 1880s through the "Ladies' Deposit". Howe offered a solely female clientele an 8% monthly interest rate and then stole the money that the wom ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
ZZZZ Best
Barry Jay Minkow (born March 22, 1966) is a former American businessman, pastor, and convicted felon. While still in high school, Minkow founded ZZZZ Best (pronounced "Zee Best"), which appeared to be an immensely successful carpet-cleaning and restoration company. However, it was actually a front to attract investment for a massive Ponzi scheme. ZZZZ Best collapsed in 1987, costing investors and lenders $100 million in one of the largest investment frauds ever perpetrated by a single person, as well as one of the largest accounting frauds in history. The scheme is often used as a case study of accounting fraud. After being released from jail, Minkow became a pastor and fraud investigator in San Diego, and spoke at churches and schools about ethics. This came to an end in 2011, when he admitted to helping deliberately drive down the stock price of homebuilder Lennar and was ordered back to prison for five years. Three years later, Minkow admitted to defrauding his own church and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
MarketWatch
MarketWatch is a website that provides financial information, business news, analysis, and stock market data. Along with ''The Wall Street Journal'' and '' Barron's'', it is a subsidiary of Dow Jones & Company, a property of News Corp. History The company was conceived as DBC Online by Data Broadcasting Corp. in the fall of 1995. The marketwatch.com domain name was registered on July 30, 1997. The website launched on October 30, 1997, as a 50/50 joint venture between DBC and CBS News run by Larry Kramer and with Thom Calandra as editor-in-chief. In 1999, the company hired David Callaway and in 2003, Callaway became editor-in-chief. In January 1999, during the dot-com bubble, the company became a public company via an initial public offering. After pricing at $17 per share, the stock traded as high as $130 per share on its first day of trading, giving it a market capitalization of over $1 billion despite only $7 million in annual revenues. In June 2000, the company formed ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Convict
A convict is "a person found guilty of a crime and sentenced by a court" or "a person serving a sentence in prison". Convicts are often also known as "prisoners" or "inmates" or by the slang term "con", while a common label for former convicts, especially those recently released from prison, is "ex-con" ("ex-convict"). Persons convicted and sentenced to non-custodial sentences tend not to be described as "convicts". The label of "ex-convict" usually has lifelong implications, such as social stigma or reduced opportunities for employment. The federal government of Australia, for instance, will not, in general, employ an ex-convict, while some state and territory governments may limit the time for or before which a former convict may be employed. Historical usage The particular use of the term "convict" in the English-speaking world was to describe the huge numbers of criminals, both male and female, who clogged British gaols in the 18th and early 19th century. Their crimes ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Auditor
An auditor is a person or a firm appointed by a company to execute an audit.Practical Auditing, Kul Narsingh Shrestha, 2012, Nabin Prakashan, Nepal To act as an auditor, a person should be certified by the regulatory authority of accounting and auditing or possess certain specified qualifications. Generally, to act as an external auditor of the company, a person should have a certificate of practice from the regulatory authority. Types of auditors * External auditor/ Statutory auditor is an independent firm engaged by the client subject to the audit, to express an opinion on whether the company's financial statements are free of material misstatements, whether due to fraud or error. For publicly traded companies, external auditors may also be required to express an opinion over the effectiveness of internal controls over financial reporting. External auditors may also be engaged to perform other agreed-upon procedures, related or unrelated to financial statements. Mo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Los Angeles Times
''The'' () is a grammatical article in English, denoting persons or things that are already or about to be mentioned, under discussion, implied or otherwise presumed familiar to listeners, readers, or speakers. It is the definite article in English. ''The'' is the most frequently used word in the English language; studies and analyses of texts have found it to account for seven percent of all printed English-language words. It is derived from gendered articles in Old English which combined in Middle English and now has a single form used with nouns of any gender. The word can be used with both singular and plural nouns, and with a noun that starts with any letter. This is different from many other languages, which have different forms of the definite article for different genders or numbers. Pronunciation In most dialects, "the" is pronounced as (with the voiced dental fricative followed by a schwa) when followed by a consonant sound, and as (homophone of the archaic p ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Business Services Companies Established In 2001
Business is the practice of making one's living or making money by producing or buying and selling products (such as goods and services). It is also "any activity or enterprise entered into for profit." Having a business name does not separate the business entity from the owner, which means that the owner of the business is responsible and liable for debts incurred by the business. If the business acquires debts, the creditors can go after the owner's personal possessions. A business structure does not allow for corporate tax rates. The proprietor is personally taxed on all income from the business. The term is also often used colloquially (but not by lawyers or by public officials) to refer to a company, such as a corporation or cooperative. Corporations, in contrast with sole proprietors and partnerships, are a separate legal entity and provide limited liability for their owners/members, as well as being subject to corporate tax rates. A corporation is more complicated a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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