On Financial Institutional Fraud

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About Accounting Fraud

Definition: Any act or attempt to falsify an accounting statement for financial gain.

A clear example of accounting fraud is the act of deliberately overpricing a company’s assets in order to drive up its share price.

Another example is filing bankruptcy to avoid debt, rather than because of financial hardship.

One of the biggest accounting frauds in history occurred during the Enron scandal in 2001.

Conclusion

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6 Responses

  1. Healthcare Fraud

    What about the HealthSouth debacle; and others?

    Jada

    Like

  2. Hospitals biggest target of civil health fraud investigations

    Jada – Hospitals and medical centers are indeed frequent suspects of civil and criminal healthcare fraud, the Government Accountability Office said in a new report crunching the 2010 numbers.

    Click to access 647849.pdf

    Burke

    Like

  3. SEC Seeks Policing Modeled On Giuliani’s ‘Broken Windows’

    SEC Chairman Mary Jo White thinks her enforcement program will emulate the strategy used by former New York Mayor Rudy Giuliani, pursuing small violations to avert a culture where laws are treated as toothless guidelines.

    http://www.fa-mag.com/news/white-wants-sec-policing-modeled-on-giuliani-s–broken-windows-15727.html?section=43

    SEC Enforcement Official Thinks Financial Advisors Are a Top Priority

    And, in another related story, the SEC Enforcement Division thinks investment advisors are one of the unit’s top priorities.

    http://www.fa-mag.com/news/sec-enforcement-chief–advisors-a-top-priority-15714.html?section=43

    Now pardon me, but wasn’t Bernie Madoff head of the SEC?

    https://medicalexecutivepost.com/2010/06/04/the-madoff-circle/

    Hancock

    Like

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