Posts tagged ‘ACCOUNTING FRAUD’

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Ray Dirks, Whistleblower

Back in the news after 42 years

On March 6, 1973, Ray Dirks got an unexpected phone call in the morning from an ex-employee of a West Coast life insurance company he was following called Equity Funding Corporation of America. 

Giving a bribe. Close-up of businessman giving money to another man in formalwear

Back to Basics for Insider Trading

Who cares whether the original tipper got a quid pro quo?

Todd Newman and Anthony Chiasson –hedge fund portfolio managers whose 2008 convictions and prison sentences1 for insider trading were just vacated by the Second Circuit Court in New York — can thank a Wall Street insurance analyst by the name of Raymond Dirks for their new-found innocence and freedom.

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Who’s to Blame?

Companies don’t commit fraud, people do

One question still puzzling Wall Street pundits is why no high-level US bankers have been charged with criminal fraud in connection with the packaging and sale of sub-prime mortgage-backed securities that collapsed during the financial crisis?

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Peering into Financial Fraud

Crazy Eddie’s cousin Sam now trains Feds in spotting white-collar crime

Remember Crazy Eddie?  The 1980s electronics retailer with the famous television commercials bellowing uncontrollably about the company’s prices being “insane!

Well, despite over $300 million in annual sales at its peak, Crazy Eddie went bankrupt in 1989 after being exposed as an 18-year, $100 million accounting fraud.