Donald Trump Fraud Analysis

One of the most famous quotes made by a white collar criminal in the midst of their downfall says, “Today, basically, on Wall Street, the big money is made by taking risks” (Top 9). The quote comes directly from historic Ponzi schemer himself, Bernie Madoff. Bernie Madoff, an infamous fraudster is well known for his astonishing $65 billion scam. Madoff, who is notoriously recognized by thousands of individuals makes for an attention-grabbing white collar criminal investigation. The shocking and unusual outcome of his case creates a thought provoking and captivating report. Most importantly his victims, in the thousands, encompasses and affects a vast population of America. Regrettably, countless victims today are still fighting for restoration, all while struggling to overcome from their losses. Overall, the scandalous Bernie Madoff case, damage/losses, outcome, and finally, the victims when combined creates an appealing white collar topic.

What I think the real reasons why the VCF system failed was first due to a system change. Most agents handled reports, field notes and other evidence in hard copy form, not electronic. There was a long history of keeping the information confidential and “close to the vest”, so sharing with others (especially those not in their organization or office) was a huge change. Going from a system where everything is kept secret, to everything is to be put out there for others to read is a complete change of procedure. For some, the adaption of the new practice would take time; or in this case, another country to let them know how it could work better if they would all work better.

On August 25th 2015 Co-Founder of OXYwater Preston J. Harrison and his Wife Lovena Harrison were sentenced for Wire Fraud, Money Laundering and Tax Crimes. (Investor Claims, August 2015). I chose this case because it has many different types of fraud, including wire fraud, money laundering, and tax fraud, conspiracy to commit fraud, concealment of fraud, theft and misappropriation of funds. What makes this case so interesting is that the husband and wife co-owners of OXYwater are not the only criminals. Their co-conspirator was Thomas E. Jackson;

You did an excellent job answering this week’s discussion board question. You discuse4d several excellent way to identify possible indicator an employee may be involved in fraudulent activity. Being vigilant of changes in employees’ performance, behaviors, and habits is a key way to identify employees that may be involved in fraudulent activity. However, this also applies when considering hiring new employee, especially if they will be in direct contact with sensitive information. Pre-employment checks, such as credit checks and background checks, are ways to prevent form hiring employees that might commit fraudulent active. I also noticed that you mentioned that employees that don’t go on vacation very much or at all may indicate

Donald Trump's number one priority coming into office was deporting illegal immigrants and improving border security. Donald Trump wants to deport illegal immigrants as 75% of them commit crimes as well as taking jobs from people who have citizenship in America (The Hill). A lot of illegal immigrants go through the Mexican-US border wall illegally. My opinion is that no, Trump's immigration system is not bad for the county but will benefit the country in the long run.

Judge Denny Chin presided over the Bernie Madoff Ponzi scheme case where Madoff was sentenced to 150 years in prison. “The penalty sparked a burst of applause in a courtroom packed with victims of the fraud.” (Frank). Mr. Madoff ruined hundreds of lives that put their life savings and trust in his hands. Bernie expressed remorse after fraud victims address their concerns in the courtroom in regards to massive Ponzi scheme. Friends and family were not there to support Madoff in his day of sentencing and remain inadequate of further information of details about the fraud. Bernie Madoff is believed to have betrayed everyone including his two sons who work for the investment firm. Rich and poor people alike shared in this despair after all of their

Congress has discovered that the Dodd–Frank Wall Street Reform and Consumer Protection Act of 2010 that created the Consumer Financial Protection Bureau or CFPB is fatally flawed and dangerous to traditional banking interests, politicians and lenders. The Huffington Post reports that ther bureau has become everybody's favorite target for reform or abolishment, and these stakeholders include people from opposite asides of the political specturm like the American Bankers Association and banking-system critic Rep. Spencer Bachus (R-Alaska). The CFPB, which was expected to target payday and predatory lenders,

Donald Trump’s annual earnings may be towering, or his achievements in the business world may be remarkable, but don’t let that fool you into believing that he’s ready to run our country. Before the campaign I saw Trump as a professional, intelligent, businessman, however since then Trump’s true colors have been revealed and now all I see is a self-centered, disrespectful, pretentious man. Throughout the campaign I have learned that Trump’s preposterous ideas to rebuild America such as building a wall along the south border, and reporting all Muslim activity, has had an immense effect on the American people. I have witnessed the truth about Trump that on several occasions he verbally harassed women and has even appeared in Playboy videos in

I think it is interesting that you mentioned that O’Peele had signed off prescriptions for the electric power chairs using a purchased Medicare list. It showed how the government lacks some form of fraud protection. Medicare was paying for the wheelchair before making inquiries about what they were paying for. Medicare could probably detect fraud easier if bills where sent more promptly to patients before making payments. It makes me think of the high amount of pre-approved visits a person has when they visit a specialized doctor. It’s like once you see the doctor once and do not have to come back do they keep trying to bill for those pre-approved visits.

John was referred to therapy by the court, as part of a rehabilitation program. He is serving time in prison, having been convicted of grand fraud. The scam perpetrated by him involved hundreds of retired men and women in a dozen states over a period of three years. All his victims lost their life savings and suffered grievous and life-threatening stress symptoms. He seems rather peeved at having to attend the sessions but tries to hide his displeasure by claiming to be eager to "heal, reform himself and get reintegrated into normative society". When I ask him how does he feel about the fact that three of his victims died of heart attacks as a direct result of his misdeeds, he barely suppresses an urge to laugh out loud and then denies any

The overall problem is trust. Humans are naturally bias and judgmental and this is where the problem begins. People tend to trust a person more if they are educated, drive a nice car, and are well groomed, over a person who looks average. The ponzi scheme, that everyone has learned to hate, used image and wealth to get over on business corporations, large and small investors, and regular people. Ponzi schemes uses appearance and finesse to get investors to continually reinvest their money with no return.

Stanton, I agree the main factor in this analysis is intent. The key element is no requirement to prove intent for depraved heart murder or constructive fraud. Although the fraud may be unintentional, the actions and outcomes of constructive fraud and fraud are equal. Thank you for providing an example in your response. I had a hard time thinking of an audit example of constructive fraud. Per discussion with attorney Elizabeth Turley, one of the most common examples of constructive fraud results from the sale of used cars by individuals or car dealers (personal communication, January 20, 2016). After reading your example, I now see that an auditor taking short cuts is an example of constructive fraud. I definitely think this may happen with

A federal appeals court early Sunday morning denied the US government's emergency request to resume President Donald Trump's travel ban.

Throughout the 2016 election, Donald Trump has affected many people around the world. Ever since he was running for president, his campaigns consisted of disgusting statements that intentionally offended different groups of minorities. In his campaigns Trump has had the tendency to criticise many for how they look or judge them for who they are. However, now that he is our new president, many of the affected groups like women, immigrants, and students have done something to stop him from defeating them.

In class on Wednesday April 27 we had a guest speaker, Mark Rabinowitz, who is a Senior Manager at Ernst and Young. During the presentation he explained the WorldCom case and gave some practical advice about working in the accounting profession.