The auditor and the Ponzi scheme Bernard Madoff was convicted in 2009 of running a Ponzi...
Option #2: Bernie Madoff Reference the Scam of the Century?: Bernie Madoff and the $50 Billion Heisto video. A Ponzi scheme occurs when a fraudster uses deposits of new investors to payoff previous investors; no real investing is happening. A Ponzi scheme will collapse if new clients don't invest, or their investments are too small to fund a decent return to previous investors. Ponzi schemes are based on trust and greed. The fraudster develops trust by building a relationship with...
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CASE 3.3 United Way of America In 1887, several of Denver's community and religious leaders established the Charity Organization Society. During its first year of operation, the organization raised a little more than $20,000, which it then distributed to several local charities. The charity-of-charities fundraising concept spread across the United States over the fol- lowing decades. After several name changes, the original Denver-based organization adopted the name United Way in 1963. United...
The PTL CLub - Jim and Tammy Faye Bakker I need help with the discussion questions listed at the bottom... THE PTL CLUB Jim and Tammy Faye Bakker launched the PTL Club in January 1974. This show was one of the most successful television ministries for more than a decade. The broadcast of the PTL Club utilized almost 200 television stations to reach a national audience of approximately 12 million viewers. PTL stood for both “Praise the Lord” and “People...
Case: Enron: Questionable Accounting Leads to CollapseIntroductionOnce upon a time, there was a gleaming office tower in Houston, Texas. In front of that gleaming tower was a giant “E,” slowly revolving, flashing in the hot Texas sun. But in 2001, the Enron Corporation, which once ranked among the top Fortune 500 companies, would collapse under a mountain of debt that had been concealed through a complex scheme of off-balance-sheet partnerships. Forced to declare bankruptcy, the energy firm laid off 4,000...
CASE 20 Enron: Not Accounting for the Future* INTRODUCTION Once upon a time, there was a gleaming office tower in Houston, Texas. In front of that gleaming tower was a giant "E" slowly revolving, flashing in the hot Texas sun. But in 2001, the Enron Corporation, which once ranked among the top Fortune 500 companies, would collapse under a mountain of debt that had been concealed through a complex scheme of off-balance-sheet partnerships. Forced to declare bankruptcy, the energy firm...