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Full-Text Articles in Law
After Ten Years, Sarbanes-Oxley Might Be Statutory Overkill
After Ten Years, Sarbanes-Oxley Might Be Statutory Overkill
Harvey Gilmore
The start of the twenty first century brought with it some spectacular corporate accounting scandals: Enron, World-Com, Adelphia, and Tyco, to name a few. The subsequent congressional hearings investigating the accounting and ethical failures of these companies resulted in a parade of one corporate executive after another claiming they had no knowledge of the massive fraud in their firms. In response to this rapid-fire succession of corporate scandals, Congress enacted the Sarbanes-Oxley Act of 2002 (“SOX”). It is a statute first introduced by Senator Paul Sarbanes and Congressman Michael Oxley, and signed into law by President George W. Bush in …
This Is Not A Symposium On How To Commit Fraud, But If It Were..., Harvey Gilmore
This Is Not A Symposium On How To Commit Fraud, But If It Were..., Harvey Gilmore
Harvey Gilmore
We know the names: Bernard Madoff, Kenneth Lay, Jeffrey Skilling, Andrew Fastow, Dennis Kozlowski, Phillip R. Bennett, and Bernard Ebbers. These are but a few of the biggest corporate thieves in recent memory. Similarly, the names of certain corporations will also conjure up lasting images of massive corporate frauds: Enron, World-Com, Tyco, Adelphia, Refco, Global Crossing, and Sunbeam, again, to name just a few. The most disquieting aspect of all these financial frauds really isn’t the massive amounts of money that was looted from the victimized companies. Instead, the truly unnerving fact regarding most financial frauds is that they are …