The Legal Environment of Business: Text and Cases (MindTap Course List)
The Legal Environment of Business: Text and Cases (MindTap Course List)
10th Edition
ISBN: 9781305967304
Author: Frank B. Cross, Roger LeRoy Miller
Publisher: Cengage Learning
Question
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Chapter 10, Problem 5BCP
Summary Introduction

Case summary:A person S together with his confederates operated a series of corporate entities to defraud telecommunication companies, creditors and others. They used false identities and spoofed services for their benefit.

To find: Whether this is a case of mail and wire fraud.

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Russell R. Wasendorf, Sr., age 64, from Cedar Falls, Iowa, who stole more than $215,000,000 in customer funds from his commodity futures business, was sentenced today to 50 years in federal prison. Wasendorf received the prison term after a September 17, 2012 guilty plea to one count each of: mail fraud embezzlement of customer funds by a person registered under the Commodity Exchange Act making false statements to the Commodity Futures Trading Commission making false statements to a futures association registered under the Commodity Exchange Act Wasendorf was the owner and former chief executive officer of the now-bankrupt Peregrine Financial Group Inc. (PFG), a futures commission merchant headquartered in Cedar Falls, Iowa. In a plea agreement, Wasendorf admitted that, from about the early 1990s through about July of 2012, he stole millions of dollars from PFG’s customers. Wasendorf admitted he stole the funds, at least in part, by withdrawing money secretly from a customer…
Purell Magazine Construction Fraud The Purell Magazine Construction Fraud case involves James Small, a facilities supervisor at Purell Magazine and Publishing House, who engaged in a sophisticated scheme of occupational fraud. Small was responsible for overseeing the painting operations as part of the company's conversion of its plant in Oakville, Ontario, into an office complex. This massive renovation project involved constructing an auditorium identical to one in the company's European offices. Small's fraudulent activities came to light when the vice president of administrative services, Richard Green, noticed forgeries in a stack of invoices related to the auditorium construction project. An initial investigation revealed that all the forgeries were in the painting division, with a budget of approximately $800,000 a year. Small, who earned about $30,000 a year, had been the only person overseeing the painting operations. Small's fraud scheme involved creating false invoices for…
Purell Magazine Construction Fraud The Purell Magazine Construction Fraud case involves James Small, a facilities supervisor at Purell Magazine and Publishing House, who engaged in a sophisticated scheme of occupational fraud. Small was responsible for overseeing the painting operations as part of the company's conversion of its plant in Oakville, Ontario, into an office complex. This massive renovation project involved constructing an auditorium identical to one in the company's European offices. Small's fraudulent activities came to light when the vice president of administrative services, Richard Green, noticed forgeries in a stack of invoices related to the auditorium construction project. An initial investigation revealed that all the forgeries were in the painting division, with a budget of approximately $800,000 a year. Small, who earned about $30,000 a year, had been the only person overseeing the painting operations. Small's fraud scheme involved creating false invoices for…
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