CORPORATE CRIME IN THE RISE
by Huỳnh Quân
1. IN GENERAL
1.1. many bad news coming out of the business in recent years
1.2. not only worried about economy but also the rise of corporate crime
1.2.1. 1999-2009 was a sharp rise
1.2.2. 5000 companies survey
1.2.2.1. 43% increase in fraud
1.2.2.2. 56% increase in financial services
2. ACCOUNTING FRAUD AT ENRON
2.1. In 2000 Enron was the world's largest trader
2.2. Decemcer 2001 Enron bankrupt
2.2.1. bad investment and borrowed billion of dollars to cover their losses
2.2.2. hide the problems until collapsed
3. BERNIE MADOFF'S PONZI SCHEME
3.1. the largest fraud
3.2. Ponzi scheme is a type of fraud which investor are paid from their own money or money from others instead of their actual earning
3.3. He had taken 65 billion dollars from thousand investors and then arrested and sentenced to 150 years in prision
4. MORTGAGE FRAUD AT AMERICAN BANKS
4.1. financial crisis in 2008 brought with it many new concerns about white-collar crime
4.2. when bank began to fail, they had joined in mortgage fraud
4.2.1. bank loans office hand lied on loan paperwork and borrowers income and assets to give them loans that they were not able to repay
4.2.2. bonuses for loan officers when they do the cheating