Anthony Elgindy's Troubled Fraud

In this case, there are several conspirators who is involved in the fraud receiving punishment from either SEC or federal government. Robert Levin, the AMRE executive and major stockholder, and Dennie D.Brown, the company’s chief accounting officer, were subject to the punishment in the form of a huge amount of fine by the SEC and the federal government. This punishment came from reasons. After AMRE going public, the company have the obligation to publish its financial reports but its performance did not meet expectation. The investigation by SEC shows that Robert took the first step of this scam, fearing the sharp drop of AMRE’s stock price because of the poor performance of company. He abetted Brown, to practice three main schemes to present a false appearance of profitable and pleasant financial reports. Firstly, they instructed Walter W.Richardson, the company’s vice president of data processing, to enter fictitious unset leads in the lead bank and they originally deferred the advertising cost mutiplying “cost per lead” and “unset leads” amount, so that they deferred a portion of its advertising costs in an asset account. The capitalizing of advertising expenses allowed them to inflate the net income for the first quarter of fiscal 1988. Secondly, at the end of the third and fourth quarters of fiscal 1988, they added fictitious inventory to AMRE’s ending inventory records, and prepared bogus inventory count sheets for the auditors. Thirdly, they overstated the percentage

Anthony Greeley is my uncle. We call him “Uncle Tony”. He was born in 1962 in Boston, Massachusetts at Boston City Hospital. He is married to my Aunt Melanie, who is my father’s youngest sister. My Aunt Melanie was his second marriage before My Uncle Tony has been a FireMan for 31 years and was promoted to Fire Chief of Norwood 3 years ago. When he was a kid, He went to Norwood High School in Norwood Massachusetts. When he graduated from High School, Tony enrolled at the University Of Connecticut in Storrs, Connecticut. Tony Studied business at Uconn. Tony has two children from his first marriage, Brian and Katie. He is the stepfather to Billy and Jimmy. He and my Aunt Melanie also have a daughter, Abby. My Uncle Tony likes the New England

The indictment states that in June of 2011, Paxton was engaged in fraud by the offer for sale of common stock for Servergy. He is accused of not disclosing that he was not personally invested in Servergy and that he received compensation for soliciting investors in the form of 100,000 shares of Servergy stock. He is accused of encouraging people to invest more than $600,000 in Servergy without disclosing he made a commission. (Source)

People from all around the world have dreamed of coming to America and building a successful life for themselves. The "American Dream" is the idea that, through hard work and perseverance, the sky is the limit in terms of financial success and a reliable future. While everyone has a different interpretation of the "American Dream," some people use it as an excuse to justify their own greed and selfish desires. Two respected works of modern American literature, The Great Gatsby and Death of a Salesman, give us insight into how the individual interpretation and pursuit of the "American Dream" can produce tragic

This $490 million came from the netting manipulation when they offset their expenses with unrelated gains on the sale of assets. The geography manipulation allowed them to move millions of dollars to different sections of the income statement to “make the financials look the way we want to show them” said James Koenig, one of the primary forces behind the scandal. However, none of the fraudulent activities would have gone unknown for so long without the aid of the auditors, Arthur Anderson LLP, involved with Waste Management.

Jordan Belfort is the notorious 1990’s stockbroker who saw himself earning fifty million dollars a year operating a penny stock boiler room from his Stratton Oakmont, Inc. brokerage firm. Corrupted by drugs, money, and sex he went from being an innocent twenty – two year old on the fringe of a new life to manipulating the system in his infamous “pump and dump” scheme. As a stock swindler, he would motivate his young brokers through insane presentations to rile them up as they defrauded investors with duplicitous stock sales. Toward the end of this debauchery tale he was convicted for securities fraud and money laundering for which he was sentenced to twenty – two months in prison as well as recompensing two – hundred million in

The criminal in this particular case, Mr. Steven Palladino, manages an ice cream store in his neighborhood of West Roxbury and as such is a widely trusted man. The trust he obtains be founded from having been born and grown here as well as having his entire family as the mascots for his fraudulent enterprise. Having studied finance and finally making his way successfully through college to become a registered stock broker, he makes use of his social status to start in the pursuit of a Ponzi scheme under the appearance of Viking Financial. On the flip side, his investors seem to have unwavering trust in him despite the location of his office, a small space above his ice-cream shop, where their investment is worth millions. Besides this, they disregard police appearance and possible warnings on their investment manager, Palladino’s lavish lifestyle, and fail to look at his record of unethical practice. Finally, they lose most of what they had, while Palladino receives an extended late jail term (CNBC PRIME,

Overview of the Case: The Securities and Exchange Commission claims Mark D. Begelman misused proprietary information regarding the merger of Bluegreen Corporation with BFC Financial Corporation. Mr. Begelman allegedly learned of the acquisition through a network of professional connections known as the World Presidents’ Organization (Maglich). Members of this organization freely share non-public business information with other members in confidence; however, Mr. Begelman allegedly did not abide by the organization’s mandate of secrecy and leveraged private information into a lucrative security transaction. As stated in the summary of the case by the SEC, “Mark D. Begelman, a member of the World Presidents’ Organization (“WPO”), abused

On January 5, 1931, in Rogers, Texas Alvin and Lula Elizabeth Ailey gave birth to Alvin Ailey Jr. An African American choreographer/activist who founded the Alvin Ailey American Dance Theater. When Alvin was only less than one year old, his father, a labor, left the family. Being an only child at the age of six, Alvin Jr. moved with his mother to Navasota, Texas.

Bernie Madoff began his career as an investment broker in 1960, where he legally bought and sold over-the-counter stocks not listed on the New York Stock Exchange (NYSE). From the 1960’s through the 1990’s, Madoff’s success and business grew substantially, mainly from a closed circle of known investors and friends through word of mouth. In the 1990’s Bernard L. Madoff Investment Securities traded up to 10 percent of the NASDAQ on any given day. With the success of the securities business, Madoff started an illegal money-management business, promising his investors consistent returns from 10-12 percent, unheard of returns at the time, which should have tipped off most investors that something was amiss.

“Duddy took a quick look at Virgil’s bank balance, whistled, noted his account number and ripped out two cheques. He forged the signature by holding the cheque and a letter Virgil had signed up to the window and tracing slowly.”(Richler, 307-308). This action taken by Duddy demonstrates his cutthroat attitude, his ruthlessness, as well his willingness to risk his friendship to accomplish his goal. Although he did lose the respect from his grandfather and ended his friendship with Virgil and his Girl Friday, Yvette, for forging a cheque; he did obtain the last portion land. Similarly, Jordan Belfort committed illegal acts within his business, including selling penny stocks disguised as blue chip stocks to wealthy individuals and generating

Bernie Madoff was one of the most prolific Ponzi-scheme artists in history. Madoff schemes netted him millions of dollars. Mr. Madoff used his BMIS Bernard L. Madoff Investment Securities a New York Limited Liability company, to commit fraud, money laundering, and perjury. This is just a few things that Mr. Bernard Madoff has done to many innocent investors, who believed in Mr. Madoff, and everything he stated. Due to Mr. Madoff’s action he has changed so many people’s lives. Some have lost everything, some committed suicide, and others just humiliated by Mr. Madoff. This paper is to tell you about Mr.

Pressures on society to live the dream can make feelings of low self-worth and turn into pushing people to go further to achieve by any means necessary. The American Dream does not only represent honesty and truth. It has not been uncommon for big CEO’s of companies to lie, cheat and steal to achieve their “American Dream”. This has been common throughout our history of economics. As society grows, wealth is the common denominator for success, and one starts to look up to these people at the top of the ladder to have achieved the dream. These people, who are anything but ethical, are the ones who influence society as what it takes to achieve and live the dream. "He's the man who fixed the World Series back in 1919" (The Great Gatsby, page 78). The dream became so focused on money that any means of a obtaining it were condoned, even if it were unscrupulous. Result of American dream being corrupted is that the motivation and ambition were gone and the dream is left with the pursuit of an empty goal. Ignorance and the ideal of looking out for oneself are prevalent; where as in the pure American Dream striving to accomplish ones' own personal goal is ones main focus. One should use the American Dream for motivation and hope that one can achieve ones personal goal. The American Dream should not

In today’s society crime occurs everyday across all aspects of life. One particular crime is that of white collar and corporate level crime. It is important that we as a society study this type of crime in depth because many individuals believe that white collar and corporate level crimes are victimless crimes when in reality they have the potential to destroy major corporations and economies all with one single case. The news or media rarely talk about this type of crime because it is often difficult to understand and individuals typically lack interest in these types of cases. One particular case is that of Jordan Belfort. Dubbed the infamous “Wolf of Wall Street” Jordan Belfort is a former stockbroker who robbed investors of over $200 million dollars to create his wealth through “pump and dump” schemes, insider trading, money laundering securities fraud, and stock-market manipulation. As an attempt to further understand these complex cases I will break down Belfort’s case as far as the methods and means as to how he got started, his use of “pump and dump” schemes and other means as to how he acquired his wealth. In addition to this I will discuss the sanctions and disciplinary action that Jordan Belfort was given, how the case affected society and what new regulations were

Jordan Belfort is the notorious 1990’s stockbroker who saw himself earning fifty million dollars a year operating a penny stock boiler room from his Stratton Oakmont, Inc. brokerage firm. Corrupted by drugs, money, and sex, he went from being an innocent twenty – two year old on the fringe of a new life to manipulating the system in his infamous “pump and dump” scheme. As a stock swindler, he would motivate his young brokers through insane presentations to rile them up as they defrauded investors with duplicitous stock sales. Toward the end of this debauchery tale he was convicted for securities fraud and money laundering for which he was sentenced to twenty – two months in prison as well as recompensing two – hundred million in