Term Paper: Catch Me If You Can

2) Frank A. Tassone; the former business manager, Pamela Gluckin; and an accounting clerk, Debra Rigano, who is a niece of Ms. Gluckin embezzled money in a scheme in which Dr. Tassone and Ms. Gluckin and nine of their family members and friends charged $5.9 million for personal items and cash advances on 74 personal credit cards. Then Ms. Gluckin and Dr. Tassone used district checks to pay those bills. The audit found that Dr. Tassone and

Frank Abagnale, Jr. worked as a doctor, a lawyer, and as a co-pilot for a major airline all before his 18th birthday. A master of deception, he was also a brilliant forger, whose skill gave him his first real claim to fame. At the age of 17, Frank Abagnale, Jr. became the most successful bank robber in the history of the U.S. FBI Agent Carl Hanratty makes it his prime mission to capture Frank and bring him to justice, but Frank is always one step ahead of him.

Frank’s need for stimulation could clearly be seen as an adolescent when he, after running away and surviving on cashing fraudulent checks, desired to partake in even more daring crimes as a result of the mere exposure effect in which the thrill of committing these crimes without any repercussion led to his increasing preference for them. In a way, the deceptive fraudulent checks that Frank created were directly representative of his deceptive nature since they could not easily be validated and had to travel weeks across the country. Frank’s desire to partake in increasing risky crimes during his merge led to the furthering development of his antisocial personality disorder as he took on greater impulsive acts of social deviance such as impersonating a Pan Am pilot and forging Pan Am payroll checks for over two million dollars. Utilizing his superficial charm, pathological lying, and lack of empathy Frank impressed and exploited people to feed his id-driven desire to commit more impulsive, daring crimes. The thrill of living on the edge of getting caught by the FBI, reached a turning point when Frank confidently impersonated the alias of a secret service agent and lied to avoid getting caught by Carl Hanratty, the lead investigator for his case. Realizing, he had just walked past the chief FBI

White collar crime costs Americans tax payers an estimated “$300 billion annually” (White-collar Crime), but more importantly hurts millions of American emotionally and financially who put their trust in stock market and financial institutions. Surprisingly, even with the astronomical cost only a few perpetrators are ever indicted and even fewer receive any sort of punishment for their greed and selfishness. On October 1, 2014 Florida had witness a rare indictment of not one or two but three Florida bankers trying to side step FDIC into giving them a subsidy loan over $3 Million. Donald “Terry” Dubose, Frank A. Baker, and Elwood “Woody” West were all indicted on twelve different counts of banking-related fraud.

The Tweed Ring scandal in New York began with William "Boss" Tweed. William is remembered for patronizing of his Tammany Hall political machine. He used it to gain massive sums of money during the Reconstruction. It was unfair, disguised, and very illegal. All of the cash he made was dirty and not legal, yet he managed to get away with this scheme from 1856 all the way until 1873.

The First National Bank was robbed by the gangster John Dillinger. He was known to be the most advanced criminal around. Mason city iowa was just a normal town until the gangster decided to make a pit stop at the bank. John was a ruthless criminal and would do anything just to get his way.`

During the Prohibition Era, Al Capone was an extremely powerful gangster that ran Chicago’s underground. At his pinnacle, he led uncountable brothels and speakeasies in which he and his syndicate could manage their various criminal acts, of which included illicit gambling, prostitution, and the sale of alcohol, which of course was illegal at this time and thus how he made the majority of his money. While exact numbers are not available, it is estimated that while at the peak of his power, Capone had brought in well over $1 billion in today’s currency and employed over 600 gangsters in order to do his business and protect him (Simkin, “Al Capone”). When asked whether or not he was a criminal, Capone even cheekily responded, “I make my money by supplying a public demand. If I break the law, my customers who number hundreds of the best people in Chicago, are as guilty as I am. The only difference is that I sell and they buy. Everybody calls me a racketeer. I call myself a businessman” (qtd. Simkin).

The choices that Frank made, saved many Jews live. Germany send the Jews to the concentration camp. He did the right thing by saving other people.

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.

People soon began catching on to him causing him to change his identity once again. This time becoming a doctor. This idea did not last too long either, Frank almost killed a child because of his lies, and he then gave up.

I know Frank from high school, he is a good guy, and it was hard to watch that video. Nonetheless, here is my point of view:

In New York, Arnold Rothstein was “the man.” He was a bootlegger, he also sold narcotics, and he started off many big names in crime such as Charles “Lucky” Luciano, Frank Costello and Dutch Shultz. Rothstein made friends with as many bootleggers and gamblers as he could. He never wanted anything to go wrong. He was sort of paranoid but Rothstein was a very powerful man. The most incredible act ever made by a thug just may have been the fixing of the 1919 World Series between the Reds and the White Sox. Many of the White Sox star players wanted higher wages, owners of the club refused. But Rothstien changed that. It was said that he paid off eight of the White Sox players 10,000 dollars each. The Red’s would have lost but with a little help from Rothstein the White Sox did lose and Rothstein got back all of his money winning bets.

This paper introduces Bernard L. Madoff a fraudster who orchestrated a multi-billion dollar Ponzi scheme. The paper discusses elements that make up a Ponzi scheme and explains what a Ponzi scheme is. The paper goes on to introduce some of the victim’s and examines some reasons why someone might fall victim to a Ponzi scheme. The paper describes the three elements making up the fraud triangle and how they relate to the fraud and the fraudster. This paper covers Bernard Madoff’s background and history and how he committed the fraud analyzing the fraud triangle. The paper describes ways to correct the issue, accounting principles violated, and recommendations for a fix. Finally, the paper looks at internal and external controls violated and ends with a conclusion.

He had started his business with a loan of $200, but within months he had two offices in Boston with a staff of dozens of employees processing sales, and he bought a modest mansion for $35,000. Of course, there were no actual profits, Ponzi had not actually bought the IRCs, and he paid early investors with the funds derived from later investors. This only worked well for him because of the rapid payments made to investors. People saw what he could do and they wanted in, so he was selling the IRC’s quickly and convincing people to reinvest their funds, he was able to postpone his financial obligations even longer. By the time the scheme collapsed his income was estimated at $1M per week, and late coming investors were defrauded of between $7 - $15M. The downfall started from some investigative journalism, this led to the District attorney getting involved and Ponzi being charged. Most of Ponzi's gains were seized in an involuntary bankruptcy hearing, and what little remained was spent in his subsequent legal battles. Ponzi’s scheme was exposed by newspaper reports in 1920 and despite his claims of innocence, a federal audit confirmed his operation was bankrupt, owing almost $4 million or more to investors. After investigation, Ponzi was charged with 86 counts of mail fraud and sentenced to five years in federal prison, and while incarcerated on federal charges he

David Friehling will quite possibly be a future case study in auditing textbooks and courses throughout the United States. Mr. Friehling was the auditor for Bernard Madoff, who was recently convicted of running the largest Ponzi scheme ever uncovered through his business, Bernard L. Madoff Investment Securities, LLC (BMIS). Mr. Madoff claimed to actively oversee more than $65 billion in private investments (it was later revealed that roughly $823 million remained of the more than $170 billion that went through his accounts over the years).(1) Mr. Friehling flagrantly and purposely violated provisions of the American Institute of Certified Public Accountants’ Code of Professional Conduct,(2) Generally Accepted Auditing Standards,(3)