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Corporate America Fights Back: The Battle Over Waiver Of The Attorney-Client Privilege, Michael L. Seigel

UF Law Faculty Publications

This Article addresses a topic that is the subject of an on-going and heated contest between the business lobby and its lawyers, on the one side, and the U.S. Department of Justice on the other. The fight is over federal prosecutors' escalating practice of requesting that corporations accused of criminal wrongdoing waive their attorney-client privilege as part of their cooperation with the government. The Department of Justice views privilege waiver as a legitimate and critical tool in its post-Enron battle against white collar crime. The business lobby views it as encroaching on corporations' fundamental right to protect confidential attorney-client communications. …

The Phantasm Of Atm Withdrawal, Nattakant Utakrit

Australian Information Security Management Conference

Despite the stringent legislation and increased enforcement aimed at combating financial crime, fraud using cash machines remains a public concern. The problem of ATM fraud is happening on a global scale and the ramifications have been felt in Australia. This paper highlights the stratagems of financial crime, in particular of ATM fraud. The abuse of ATMs with intelligent methods used by perpetrators will be discussed. At the same time, the paper will present some global cases of ATM fraud. Finally this paper will illustrate countermeasures and security methods, such as biometrics and premises protections of banks, financial institutions and customers, …

Reforming Punishment Of Financial Reporting Fraud, Samuel W. Buell

Faculty Scholarship

Present sentencing law in criminal cases of financial reporting fraud is embarrassingly flawed. The problem is urgent given that courts are now regularly sentencing corporate offenders, sometimes (but sometimes not) to extremely punitive terms of imprisonment. Policing of fraud by multiple jurisdictions in a federal system means that principled sentencing law is necessary not only for first-order policy reasons but also for coordination of sanctioning efforts. Proportionality and rationality demand that sentencing law have an agreed scale for measuring cases of financial reporting fraud in relation to each other, a sound methodology for fixing a given case on that scale, …

The Nondischargeability Of Student Loans In Personal Bankruptcy Proceedings: The Search For A Theory, John A. E. Pottow

Articles

In fiscal year 2002, approximately 5.8 million Americans borrowed $38 billion (USD) in federal student loans. This was more than triple the $11.7 billion borrowed in 1990. As a rule of thumb, tuition has been increasing at roughly double the rate of inflation in recent years. This troubling trend of accelerating tuition, coupled with the fact that real income has stagnated for men and increased only modestly for women over the past two decades, means that more and more students are going to need to turn to borrowed money to finance their degrees absent a radical restructuring of the postsecondary …

The New Global Financial Landscape: Why Egregious International Corporate Fraud Should Be Cognizable Under The Alien Tort Claims Act, Joel Slawotsky

Duke Journal of Comparative & International Law

No abstract provided.

Bringing Coherence To Mens Rea Analysis For Securities-Related Offenses, Michael L. Seigel

UF Law Faculty Publications

This Article has demonstrated that the failure of commentators and the courts to tackle mens rea analysis head-on has resulted in lasting incoherence in the law. Unintelligible legal doctrine does not simply upset individuals who strive for elegant solutions to legal problems; it also exacts a huge, real-life toll. Juries faced with incoherent legal instructions are likely to become disillusioned about the justice system. Citizens receive inadequate guidance as to acceptable and unacceptable behavior, hampering deterrence -- particularly in the securities-law arena, where one presumably finds mostly rational actors who would be deterred by clear legal rules. Securities regulation is …

The Next Epidemic: Bubbles And The Growth And Decay Of Securities Regulation, Erik F. Gerding

Publications

This article explores how speculative bubbles undermine the effectiveness of securities regulations and spawn epidemics of securities fraud. A brief historical survey demonstrates that stock market bubbles almost invariably coincide with epidemics of securities fraud, and provides a compelling argument that the outbreak of fraud in the Enron era did not stem merely from factors unique to the 1990s, but from the dynamics of an asset price bubble as well.

Drawing on perspectives from securities law practice and economic theory, the article argues that bubbles dilute the deterrent effect of antifraud rules and promote deregulation. Both effects alter the calculus …

News Release: Aicpa Addresses Fraud In Audit Committee Guidance, American Institute Of Certified Public Accountants (Aicpa)

Guides, Handbooks and Manuals

No abstract provided.

Fraud And The Financial Statement Audit: Auditor Responsibilities Under Sas 99, Michael Ramos

Guides, Handbooks and Manuals

No abstract provided.

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Fraud And The Financial Statement Audit: Auditor Responsibilities Under Sas 99, Michael Ramos

Guides, Handbooks and Manuals

No abstract provided.

Corporate Governance Issues, Peter Peterson, John Foster, Jeffrey M. Colon, William Treanor

Fordham Journal of Corporate & Financial Law

No abstract provided.

Fraud And The Financial Statement Audit: Auditor Responsibilities Under New Sas, Michawel Ramos

Guides, Handbooks and Manuals

No abstract provided.

Ethics, Law Firms, And Legal Education, Milton C. Regan

Georgetown Law Faculty Publications and Other Works

A rash of recent corporate scandals has once again put professional ethics in the spotlight. It's hard to pick up the Wall Street Journal each day and not read that authorities have launched a new investigation or that additional indictments are imminent. Stories of financial fraud and outright looting have galvanized the public and shaken the economy. What ethical lessons can we draw from these events? Two explanations seem especially prominent. The first is a story of individuals without an adequate moral compass. Some people's greed and ambition were unchecked by any internal ethical constraints. For such deviants, no amount …

When Clients Do Bad Things: The Lawyer's Response To Corporate Wrongdoing, Craig M. Bradley

Articles by Maurer Faculty

The high profile meltdowns of Enron, WorldCom, Tyco, Adelphia, Global Crossing and other well-known companies have focused attention on the responsibilities of corporate gatekeepers, including attorneys, to deter or expose fraudulent conduct by their clients and associated persons. Attorneys have been the subject of investigation and criticism by Congress' and federal regulators for failing to adequately respond to their clients' fraudulent (and, possibly, criminal) conduct. The lawyer who learns that his or her client or persons acting on its behalf are engaged in a course of fraudulent or criminal conduct which threatens economic losses to non-client third parties faces both …

Preventing Fraudulent Financial Reporting, Mark S. Beasley, Joseph V. Carcello, Dana R. Hermanson

Faculty Articles

Provides information on a study conducted by the Committee of Sponsoring Organizations regarding the detection and prevention of financial fraud. Discussion on the nature of financial frauds; Characteristics of unreliable financial reporting; Views on the role of auditing firms in the prevention of fraud.

Insider Abuse And Criminal Misconduct In Financial Institutions: A Crisis, Renae V. Stevens

Notre Dame Law Review

No abstract provided.

Just Say 'No', Mark S. Beasley, Joseph V. Carcello, Dana R. Hermanson

Faculty Articles

The article discusses the prevention of financial fraud within corporations and businesses in the United States. The types of individuals named in the U.S. Securities and Exchange Commission (SEC) files are examined. Different fraud techniques are looked at, including sham sales, the recording of conditional sales, and unauthorized shipments. The author discusses the status of firms after fraud disclosure and the implications it has for finance professionals.

Flight And Fugitive Issues In Bankruptcy Fraud Cases, Angela J. Davis

Scholarly Articles in Law Reviews & Journals

No abstract provided.

Enhancing The Auditor's Fraud Detection Ability: An Interdisciplinary Approach, Maria Krambia Kapardis

Theses: Doctorates and Masters

A contemporary issue of concern to both external auditors and financial statement users is fraud-detection by auditors. The ability of auditors to detect material irregularities, including fraud, should be enhanced to enable them to apply "reasonable skill and care" in carrying out the audit. Such proficiency in fraud detection is needed if the profession is to avoid costly litigation, ever-increasing indemnity insurance and erosion of the profession's credibility. The thesis maintains that such enhancement can be achieved if auditors both utilise knowledge about the aetiology of fraud in psychology, sociology and criminology as well as by synthesising a broad range …

The Federal Mail Fraud Statute (Part I), Jed S. Rakoff

Duquesne Law Review

No abstract provided.

Criminal Consumer Fraud: A Victim-Oriented Analysis, Donald P. Rothschild, Bruce C. Throne

Michigan Law Review

The poor and the elderly are the principal victims of the high pressure and often sophisticated sale techniques of criminal consumer fraud in this country. The problem is compounded when the poor and the elderly live in inner cities where legal assistance is costly and inadequate, and the courts, prosecutors, and investigators are overburdened. Yet the executive and legislative agencies responsible for law enforcement continue to assign a low priority to criminal consumer fraud. President Ford has reflected this orientation: "For effective management [of law enforcement], we first have to have some hard decisions on priorities. As a starter, I …

In The Matter Of Mckesson & Robbins, Incorporated, Report Of The Property, Liabillities, And Financial Condition Of The Debtor, The Operation Of Its Business And The Desirability Of The Continuation Thereof, Pursuant To Section 167(3) Of The Bankruptcy Act, Special Report Dated November 22, 1939, William J. Wardall, United States District Court For The Southern District Of New York

Federal Publications

No abstract provided.