Digital Commons Network^™

Privacy And Counter-Terrorism: The Pervasiveness Of Data, Paul Rosenzweig

Case Western Reserve Journal of International Law

No abstract provided.

Madoff Ponzi Scheme Exposes "The Myth Of The Sophisticated Investor", Felicia Smith

University of Baltimore Law Review

On June 29,2009, Bernard L. Madoff was sentenced to 150 years in a federal penitentiary for his role in a multinational Ponzi scheme of historic proportions — some $64.8 billion (which included estimated gains from apparently bogus investment returns). The criminal charges against Madoff included securities fraud, investment adviser fraud, international and domestic money laundering, and perjury.

Many of Madoff's investors were regarded as sophisticated investors. Since its adoption in 1933, the Securities Act affords an exemption from the registration requirements for issuers who offer securities to sophisticated investors because these investors have the resources and financial expertise to obtain …

Testimony Before The Financial Crisis Inquiry Commission, Miami, Florida September 21, 2010, William K. Black

Faculty Works

"Control frauds" are seemingly legitimate entities controlled by persons that use them as a fraud "weapon." (The person that controls the firm is typically the CEO, so that term is used in this testimony.) A single control fraud can cause greater losses than all other forms of property crime combined. Neo-classical economic theory, methodology, and praxis combine to optimize criminogenic environments that hyper-inflate financial bubbles and produce recurrent, intensifying financial crises. A criminogenic environment is one that creates such perverse incentives that it leads to widespread crime. Financial control frauds’ "weapon of choice" is accounting. Neoclassical theory, which dominates law …

How Trust Is Abused In Free Markets: Enron’S 'Crooked 'E’', William K. Black

Faculty Works

A market can have a lemon's problem when one party to the transaction has far superior information to the other and defects are not obvious. The classic bad car, the "lemon" led to the name for this theory. A lemon's market is inefficient. Both consumers and reputable sellers of high quality goods are harmed by the consumer's inability to distinguish superior goods. Frauds, who sell poor quality goods by misrepresenting quality are the only winners. Markets beset by lemon's problems may be improved by government intervention, which can aid both consumers and honest sellers.

In his article "How Trust is …

State Of Utah V. Larry Bosh, And D. Shawn Benson : Brief Of Appellee, Utah Court Of Appeals

Utah Court of Appeals Briefs (2007– 2019)

AN INTERLOCUTORY APPEAL FROM AN ORDER GRANTING INTERVENOR/APPELLEE'S INTERVENTION INTO A PRESERVATION OF ASSETS ACTION BROUGHT BY PLAINTIFF/APPELLANT PURSUANT TO § 77-38a-601, UTAH CODE ANNOTATED 2010, IN THE FOURTH JUDICIAL DISTRICT OF UTAH, UTAH COUNTY, THE HONORABLE FRED D. HOWARD PRESIDING.

A View From Inside The Ropes: A Prosecutor's Viewpoint On Disclosing Exculpatory Evidence, Fred Klein

Hofstra Law Review

No abstract provided.

Article Iii By Default: Constitutional Requirements For The Capital Prosecution Of Unprivileged Enemy Belligerents, Brian C. Mccomas

University of San Francisco Law Review

In light of President Obama’s and Attorney General Eric Holder Jr.’s monumental decision, this Comment explores the constitutional requirements for the capital prosecution of unprivileged enemy belligerents accused of committing or aiding hostilities against America. This Comment argues that, by default and largely thanks to false starts on behalf of the Bush Administration, courts-martial proceedings and military commissions cannot procure a constitutionally sound capital conviction of a detainee in the War on Terror.

Multispace & Multistructure. Neutrosophic Transdisciplinarity (100 Collected Papers Of Sciences), Vol. Iv, Florentin Smarandache

Branch Mathematics and Statistics Faculty and Staff Publications

The fourth volume, in my book series of “Collected Papers”, includes 100 published and unpublished articles, notes, (preliminary) drafts containing just ideas to be further investigated, scientific souvenirs, scientific blogs, project proposals, small experiments, solved and unsolved problems and conjectures, updated or alternative versions of previous papers, short or long humanistic essays, letters to the editors - all collected in the previous three decades (1980-2010) – but most of them are from the last decade (2000-2010), some of them being lost and found, yet others are extended, diversified, improved versions. This is an eclectic tome of 800 pages with papers …

Fraud, Fools, And Phishing: Mail Fraud And The Person Of Ordinary Prudence In The Internet Age, Lauren D. Lunsford

Kentucky Law Journal

No abstract provided.

Not-For-Profit Entities With Conforming Changes As Of March 1, 2010; Audit And Accounting Guide, American Institute Of Certified Public Accountants. Not-For-Profit Organizations Committee

Industry Guides (AAGs), Risk Alerts, and Checklists

No abstract provided.

The Evolution Of The Italian And U.S. Bankruptcy Systems: A Comparative Analysis, Paolo Manganelli

Journal of Business & Technology Law

No abstract provided.

Balancing Consumer Privacy With Behavioral Targeting, Dustin D. Berger

Santa Clara High Technology Law Journal

No abstract provided.

Federal Prosecution Of State And Local Officials Using Honest Services Mail Fraud: Where's The Line?, George E.B. Holding, Dennis M. Duffy, John Stuart Bruce

Campbell Law Review

Although there is little dispute that the mail fraud statute has become a valuable part of a federal prosecutor's arsenal, for years legal scholars have debated the extent to which the mail fraud statute should be used to prosecute corrupt state and local officials. In recent years, largely in response to the large number of high profile honest services fraud prosecutions, even members of the mainstream news media are beginning to seek guidance regarding the definition of honest services mail fraud. As noted by Professor George Brown, though the controversy over whether the national government should be responsible for prosecuting …

Enforcing International Corrupt Practices Law, Paul D. Carrington

Faculty Scholarship

This Essay strives to advance the current international movement to
deter the transnational corrupt practices that have long burdened the global economy and weakened governments, especially in “developing” nations. Laws made in the last decade to address this longstanding global problem have not been effectively enforced. Described here are the moderately successful efforts in the United States since 1862 to reward private citizens serving as enforcers of laws prohibiting corrupt practices. It is suggested that this American experience might be adapted by international organizations to enhance enforcement of the new public international laws.

Let The Securities And Exchange Commission Outsource Enforcement By Litigation: A Proposal, Tamar Frankel

Faculty Scholarship

The stories of Stanford's suspected Ponzi scheme, and Madoff s proven scheme, as well as the Securities and Exchange Commission's lenient settlements with very large suspected violators, and its focus on the numerous, small accused, have raised questions about the Commission's enforcement resources. This Article suggests that the Commission outsource civil cases against very large defendants when the examination of the defendant finds signs of wrongdoing under the securities acts. The Commission already outsources two types of legal services and the United States government practices extensive outsourcing. This article suggests that with appropriate limitations and controls outsourcing of enforcement litigation …

Pleading A Loss Cause: Resolving The Pleading Standard For The Element Of Loss Causation In A Private Securities Fraud Claim And A Plaintiff's Heavy Burden Pleading It Under Iqbal, Jason N. Haycock

American University Law Review

No abstract provided.

An Assessment Of Business Ethics: From The Classroom To The Workplace, Jenna Michelle Azbell

Honors Program Theses

This thesis will begin with an in-depth look at the major corporate scandals of Enron and WorldCom. After that, the thesis will describe the background history of business ethics in America, looking at how capitalism has evolved and shaped our business environment and sometimes influenced the decisions we make. A description of the legislative history involving business ethics will follow, including explanations of how laws such as Civil Rights Act of 1964 affected business ethics policies and practices in the United States, as well as the expansion of business ethics-related statutes including the recent Sarbanes-Oxley legislation that has changed business …

Personal Jurisdiction Over Foreign Directors In Cross-Border Securities Litigation, Hannah L. Buxbaum

Articles by Maurer Faculty

No abstract provided.

Introduction: The Market Meltdown Of 2008 And The Future Of Financial Reregulation [Article], Faith Stevelman

Articles & Chapters

No abstract provided.

Evil Has A New Name (And A New Narrative): Bernard Madoff, A. Christine Hurt

Faculty Scholarship

No abstract provided.

Agenda For The Financial Crisis Inquiry Commission's Telephonic Business Meeting On Monday, December 14th, Phillip Angelides, Thomas Greene, Beneva Schulte, Gary Cohen, Bill Thomas, Brooksley Born, Byron Stephen Georgiou, Bob Graham, Keith Hennessey, Douglas Holtz-Eakin, Heather Murren, John W. Thompson, Peter J. Wallison

Documents

No abstract provided.

Turning A Small Residential Farm Into A Non-Profit Educational Organization, Thomas John Anderson

Agribusiness

This study was undertaken to determine whether Felicity’s Farm could become a non-profit organization for education. In order to determine the feasibility of turning Felicity’s Farm into a non-profit organization, interviews were conducted and financial statements were collected. In addition, a Certificate of Incorporation was completed based on the interview and financial data. It was concluded that Felicity’s Farm could become a non-profit organization; however, better organization of finances, fund-raising and the use of volunteers was recommended.

Washington Tax Legislative Update: Weathering The Gathering Storm, Jonathan Talisman

William & Mary Annual Tax Conference

No abstract provided.

Spectator 2009-11-04, Editors Of The Spectator

The Spectator

No abstract provided.

Florida Sentinel Bulletin, October 23, 2009, Gwen Hayes

Florida Sentinel Bulletin Collection

The October 23, 2009, issue of the Florida Sentinel Bulletin.

Governing Corporate Compliance, Miriam H. Baer

Faculty Scholarship

No abstract provided.

The Legitimate Rights Of Public Shareholders, Lawrence E. Mitchell

Washington and Lee Law Review

In recent years there has been significant ongoing academic debate over the expansion ofpublic shareholders 'participation rights in corporate governance. The debate has accompanied a dramatic increase in institutional shareholder and hedge fund activism attempting to influence the conduct ofcorporate affairs. The legitimacy ofshareholderp articipationr ights depends upon the actual role public shareholders play in contributing to the corporation's function of providing goods and services and, ultimately, to economic growth and social welfare. Few in the debate have stopped to examine this question. This Article presents original empirical evidence that demonstrates that public shareholders do not, on net, contributec apitalt …

Assistant Secretary For Financial Institutions Michael Barr Written Testimony Before The Senate Committee On Banking, Housing And Urban Affairs, Michael Barr

Documents

No abstract provided.

Health Insurance Fraud: An Overview, Sara J. Rosenbaum, Nancy Lopez, Scott Stifler

Health Policy and Management Faculty Publications

In 2007, the U.S. spent nearly $2.3 trillion on health care and public and private insurers processed more than 4 billion health insurance claims. The National Health Care Anti-Fraud Association (NHCAA) has estimated that, conservatively, 3% of all health care spending—or $68 billion—is lost to health care fraud. Other estimates by government and law enforcement agencies place fraud-related losses as high as 10% of annual health care spending; at this rate, the losses in 2007 alone – over $220 billion – would have been enough to cover the uninsured.

This report, funded by the Robert Wood Johnson Foundation, delves into …

Sarbanes Oxley Act Of 2002: Will It Be Effective In Preventing Another Enron Scandal?, Scott W. Eichar

Senior Honors Theses

The Sarbanes-Oxley Act of 2002 (SOX) was introduced to Congress as a result of the deceit and fraud taking place at Enron in December of 2001. The three factors that led to the scandal were Enron’s weak internal control, misleading off-balance sheet entities, and conflicting interests between Enron’s employees and their chief auditor, Arthur Andersen. The provisions of SOX were established, in part, to strengthen internal control, require proper disclosure for special purpose entities, and eliminate conflicts of interests between a firm and its auditors. The purpose of this paper is to measure the effectiveness of these implementations to prevent …