The lawyers’ main claim was that the Police handled the evidence poorly and that the evidence should be considered invalid and that the police planted evidence that led to the conviction of Simpson therefore he was found a not guilty verdict. Even though Simpson was acquitted of the murder of killing his ex-wife Nicole and Ronald he still was held responsible for their wrongful death. Taking about four months to complete, they finally won the case in a civil court. O.J Simpson had to pay the family of Ronald Goldman and O.J Simpson’s children $12.5million dollars (misscivilwar.org). The evidence that was brought up was the polygraph test that he was asked to take.
In the article, Devin Leonard (2005) describes the fraud of AIG and AIG’s former CEO Greenberg. Joye discloses that AIG has been improperly booking premiums it receives for workers’ compensation insurance and the CEO Greenberg knows it but does not do anything to stop it. Joye reports the fraud in meetings with Greenberg, Tizzo and the president of AIG but receives no attention. Later, Joye resigns and works for other companies. He keeps silent about what he discovers for many years but he keeps his AIG files and shows them in an investigation on AIG’s accounting fraud from Spitzer.
As future accountants our job is not to turn a blind eye to actions like this but Cooper gives us the courage to stand up two large companies. WorldCom reported $3.8 billion accounting fraud on its own; this is a direct correlation to Cooper's investigation. The company had to file for bankruptcy protection wiping out if shareholders. Without her taking a stand and doing the necessary investigating WorldCom investors stockholders and employees would have been worst off. This is why she was named Time magazines “Persons of the Year” in
The Trial of Martha Stewart Summary On December 27, 2001, Douglas Faneuil, an assistant to stockbroker Peter Bacanovic at Merrill Lynch, took a call from Aliza Waksal, the daughter of Samuel Waksal, cofounder of ImClone Systems. She instructed Faneuil to sell her 39,472 shares and her father’s 79,797 shares. Faneuil was instructed to call Martha Stewart and she instructed Faneuil to sell her 3,928 shares. ImClone was denied approval for a new drug, Erbitux which would cause the company’s stock to plummet. Merrill Lynch called the SEC to report suspicions of insider trading in ImClone.
With two other accomplices they were tried and convicted in January 1973. All seven men were either directly or indirectly employees of President Nixon's Campaign to Re-elect the President, CREEP and many people, including the trial judge, John J. Sirica, suspected a conspiracy involving higher-echelon government officials. In March 1973, James McCord, one of the convicted burglars, wrote a letter to Sirica charging a massive coverup of the burglary. His letter transformed the affair into a political scandal of unprecedented magnitude. Mean while back in the Oval office there were evidence of Nixon’s recorded conversation about the Plumber, war in Laos, and Watergate.
There is Martha Stewart, Ivan Boesky, and Michael Millken who were found guilty for fraudulent activities. Martha Stewart was an American Business magnate, media personality, and magazine publisher. Her ventures focus on homemaking. Martha Stewart was under investigation for selling hundreds of shares of ImClone Systems just prior to the Food and Drug Administration’s refusal to approve the company’s new cancer drug. In June 2003, she was charged with securities fraud, obstruction of justice, conspiracy and making false statements to prosecutors and the FBI (Marks, A, 2004).
Federal prisons house offenders guilty of anything from large drug offenses to tax evasion; from prisoners guilty of embezzlement to individuals who self professed they were anti-government (Foster). Alderson Federal Prison Camp White collar criminals like Martha Stewart have been known to serve a prison stent from time to time. Stewart avoided a loss of $45,673 by selling 3,928 of her ImClone Systems stock shares in December of 2001. She was given nonpublic information from Peter Bacanovic, her broker at Merrill Lynch. The day after her sale, the stock value fell dramatically (U.S. Securities and Exchange Commission).
There are six areas in particular where ethical issues have risen in organizations: compensation; conflicts of interest; publications and solicitation; financial integrity; investment policies; and accountability and strategic management (Rhode & Packet, 2009). Some examples of outrageous unethical behavior by corporations that compare to PharmaCare’s actions are: • Merrill Lynch & Co. CEO John Thain, spent $1.22 million in 2008 to redecorate his office, including the purchase of a $1,400 trash can and a $35,000 antique commode while the company was hemorrhaging losses of some $27 billion (Fitzgerald, 2009). • Former United Way CEO, William Aramony served six years in prison after an investigation uncovered misuse of the charity’s funds to finance a lavish lifestyle, including luxury condominiums, personal trips, and payments to his mister (Arenson, 1995). • Enron is known for their unethical practices. Enron’s mismanaged bonus systems and compensation structure was a part of the explanation for their morally irresponsible behavior reflected in Enron Corp. and in financial crisis by skirting of legal technicalities and ethical boundaries, Enron manage to lose more than $600 million (Sims & Brinkmann,
Until the St. Valentine’s Day massacre, Capone made millions from racketeering illegal alcohol. After this event took place, the government investigated Capone and charged him with tax evasion. He served 11 years in prison before dying from syphilis after being released from
In the case of Janet leaving BUGusa, Inc. to work for WIRETIME, INC. the company has committed tortious interference. Tortious interference is when a party persuades and induces another to breach their contract. WIRETIME, Inc. used an 10% increase in wages and a $5,000 signing bonus as leverage to lure Janet away from BUGusa, Inc. to work for them. Scenario: WIRETIME, Inc. (Steve and Walter) Discuss any liability BUGusa, Inc., may have for Walter’s actions. Since Walter took Steven into a soundproof room for six hours and threatened to hurt him if he did not divulge information, Walter committed false imprisonment.