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Full-Text Articles in Law
Toward A Multilevel Sociology Of Fraud, Brooke Harrington, Camilo Arturo Leslie
Toward A Multilevel Sociology Of Fraud, Brooke Harrington, Camilo Arturo Leslie
Northwestern University Law Review
This Essay applies a distinctively sociological multilevel analysis to fraud to provide novel insights and recommendations on an old problem. Rather than treating fraud as a problem of “criminogenic environments” or of individual psychologies and motivations, this multilevel analysis investigates the ways in which individuals (the micro level) interact with organizations (the meso level) and institutional systems (the macro level) to produce fraud. We illustrate these interactions and the insight that an interactive analysis can provide by using ethnographic data from an in-depth case study of the R. Allen Stanford offshore financial fraud. The case, which occurred in the Caribbean …
America's Anti-Fraud Ecosystem And The Problem Of Social Trust: Perspectives From Legal Practitioners, Edward J. Balleisen
America's Anti-Fraud Ecosystem And The Problem Of Social Trust: Perspectives From Legal Practitioners, Edward J. Balleisen
Northwestern University Law Review
This contribution revives an autobiographical genre present in law reviews roughly a half-century ago, in which seasoned legal practitioners offered perspective on vital issues. Here, a senior deputy attorney general, a former federal prosecutor, a corporate defense attorney, and a legal aid lawyer each draw on their career experience to explore what they see as significant problems related to the law of consumer and investor fraud and the nature of consumer and investor trust. Their reflections emphasize the significance of law in action—how key actors seek to deploy legal mechanisms related to fraud and adjust their strategies in light of …
Consumer Fraud, Home Financing, And The Erosion Of Trust, Linda E. Fisher
Consumer Fraud, Home Financing, And The Erosion Of Trust, Linda E. Fisher
Northwestern University Law Review
Consumer fraud is a civil violation of a remedial statute not requiring specific intent to deceive. Most consumer fraud statutes define violations as unconscionable, misleading, or deceptive practices irrespective of intent, in derogation of the principle of caveat emptor. They do not apply to business-to-business transactions. Trust plays a central role in business-to-consumer transactions. Because consumers are individuals, there is often an inherent inequality in consumer transactions. Sophisticated marketing techniques—especially target marketing that follows potential customers all over the internet—hound consumers’ online lives and manipulate purchasing decisions. The increasing monetization of almost everything exacerbates these effects. This transactionalism itself erodes …
The Persistent Limits Of Fraud Prevention In Historical Perspective, Emily Kadens
The Persistent Limits Of Fraud Prevention In Historical Perspective, Emily Kadens
Northwestern University Law Review
Fraud has been ubiquitous throughout history, and so have the methods of fraud prevention. History demonstrates that no anti-fraud measures have fully succeeded in eliminating deceptive market behavior. Instead, this Essay uses evidence from premodern England to argue that societies and individual contracting parties balance tolerating a certain amount of fraud against the costs of fraud prevention.
Auditing Overseas: How The United States Can Learn From Recent Financial Audit Reform In The United Kingdom, Daniel Damitio
Auditing Overseas: How The United States Can Learn From Recent Financial Audit Reform In The United Kingdom, Daniel Damitio
Northwestern University Law Review
Financial auditing is one of the cornerstones of an effective capital market structure. When performed correctly, an independent financial audit provides investors with the security they need to effectively transact based on company disclosures. When this system fails, however, the results for investors and the economy as a whole can be devastating. In recognition of this danger, the market for financial auditing in the United States is regulated by a number of governmental and nongovernmental bodies charged with maintaining its health and effectiveness. But stakeholders within the U.S. market and government have criticized these regulators for failing to adequately respond …
Investigating Healthcare Fraud: Its Scope, Applicable Laws, And Regulations, Nicole Forbes Stowell, Carl Pacini, Nathan Wadlinger, Jaqueline M. Crain, Martina Schmidt
Investigating Healthcare Fraud: Its Scope, Applicable Laws, And Regulations, Nicole Forbes Stowell, Carl Pacini, Nathan Wadlinger, Jaqueline M. Crain, Martina Schmidt
William & Mary Business Law Review
Healthcare costs are not only an enormous strain on the U.S. economy but are expected to increase in the foreseeable future. Not surprisingly, clever fraudsters view the healthcare industry as a lucrative and attractive hotspot for illegal activity. Although federal and state governments have increased their funding and prosecution efforts relating to healthcare fraud, this fraud continues to be a major threat to the U.S. economy and every patient and consumer. The impact of healthcare fraud is substantial and far-reaching. Healthcare fraud in the U.S. affects not only the government, but also insurance companies, patients, healthcare providers, and consumers. This …
The Auditor's Responsibilities For Fraud Detection And Disclosure: Do The Auditing Standards Provide A Safe Harbor?, James L. Costello
The Auditor's Responsibilities For Fraud Detection And Disclosure: Do The Auditing Standards Provide A Safe Harbor?, James L. Costello
Maine Law Review
Eighty-seven percent of managers recently surveyed were willing to commit financial statement fraud. More than half were willing to overstate assets, forty-eight percent were willing to understate loss reserves and thirty-eight percent would "pad" a government contract. These disturbing results are underscored by the financial miseries still brewing in the savings and loan industry, as well as by other corporate and banking financial debacles of the past decade, including Lincoln Savings & Loan, Wedtech, and the Delorean sports car venture scandal. Amidst these financial ruins we find the chronic element of management fraud. Unfortunately for investors and depositors a troublesome …
Victim V. Victim Restitution: The Commingling Fictions, Andrew Kull
Victim V. Victim Restitution: The Commingling Fictions, Andrew Kull
St. Mary's Law Journal
Abstract forthcoming.
A Statutory Override Of An “As Is” Sale: A Historical Appraisal And Analysis Of The Ucc, Magnuson-Moss, And State Lemon Laws, Richard J. Hunter Jr.
A Statutory Override Of An “As Is” Sale: A Historical Appraisal And Analysis Of The Ucc, Magnuson-Moss, And State Lemon Laws, Richard J. Hunter Jr.
University of Massachusetts Law Review
This Essay considers the common law view that the sale of a used car is essentially “as is,” in light of state lemon laws, which attempt to protect the interests of used car buyers under certain circumstances. The Essay highlights provisions of the New Jersey Lemon Law, which provide specific vehicle and parts coverage, warranty protections, and buyer rights in case the automobile is deemed a lemon, arguing that other states should consider adopting similar legislation in the name of consumer protection. The Essay describes the essence of a traditional “as is” sale, and emphasizes the fact that the “as …
Regulating Electricity-Market Manipulation: A Proposal For A New Regulatory Regime To Proscribe All Forms Of Manipulation, Matthew Evans
Regulating Electricity-Market Manipulation: A Proposal For A New Regulatory Regime To Proscribe All Forms Of Manipulation, Matthew Evans
Michigan Law Review
Congress broadly authorized the Federal Energy Regulatory Commission (“FERC”) to protect consumers of electricity from all forms of manipulation in the electricity markets, but the regulations that FERC passed are not nearly so expansive. As written, FERC’s Anti-Manipulation Rule covers only instances of manipulation involving fraud. This narrow scope is problematic, however, because electricity markets can also be manipulated by nonfraudulent activity. Thus, in order to reach all forms of manipulation, FERC is forced to interpret and apply its Anti-Manipulation Rule in ways that strain the plain language and accepted understanding of the rule and therefore constitute an improper extension …
Durbin Amendment To The Dodd Frank Act: Two Caps Are Better Than One For Debit Card Interchange Fees, Maureen Kane
Durbin Amendment To The Dodd Frank Act: Two Caps Are Better Than One For Debit Card Interchange Fees, Maureen Kane
Florida State University Law Review
No abstract provided.
"You May Have Already Won. . .": Telemarketing Fraud And The Need For A Federal Legislative Solution , Patrick E. Michela
"You May Have Already Won. . .": Telemarketing Fraud And The Need For A Federal Legislative Solution , Patrick E. Michela
Pepperdine Law Review
No abstract provided.
Determining The Proper Pleading Standard Under The Private Securities Litigation Reform Act Of 1995 After In Re Silicon Graphics , Erin Brady
Pepperdine Law Review
No abstract provided.
Credit Card Fraud: A New Perspective On Tackling An Intransigent Problem, Lydia Segal, Benjamin Ngugi, Jafar Mana
Credit Card Fraud: A New Perspective On Tackling An Intransigent Problem, Lydia Segal, Benjamin Ngugi, Jafar Mana
Fordham Journal of Corporate & Financial Law
This article offers a new perspective on battling credit card fraud. It departs from a focus on post factum liability, which characterizes most legal scholarship and federal legislation on credit card fraud and applies corrective mechanisms only after the damage is done. Instead, this article focuses on preempting credit card fraud by tackling the root causes of the problem: the built-in incentives that keep the credit card industry from fighting fraud on a system-wide basis. This article examines how credit card companies and banks have created a self-interested infrastructure that insulates them from the liabilities and costs of credit card …
Are Artificial Tans The New Cigarette? How Plaintiffs Can Use The Lessons Of Tobacco Litigation In Bringing Claims Against The Indoor Tanning Industry, Andrea Y. Loh
Michigan Law Review
Indoor tanning salons have grown significantly in popularity during recent years. Scientific research has revealed a strong link between skin cancer and ultraviolet light exposure from indoor tanning lamps. Despite such dangers, federal regulations place minimal restrictions on the labeling of indoor tanning lamps. Indoor tanning salons work vigorously to dispel notions of a link to skin cancer, often falsely promoting various health benefits of indoor tanning. The first lawsuit for injuries resulting from indoor tanning was recently filed against an indoor tanning salon, and other such litigation is poised to follow. This Note examines three potential tort claims against …
Protecting The Digital Consumer: The Limits Of Cyberspace Utopianism, John Rothchild
Protecting The Digital Consumer: The Limits Of Cyberspace Utopianism, John Rothchild
Indiana Law Journal
No abstract provided.
Criminal Consumer Fraud: A Victim-Oriented Analysis, Donald P. Rothschild, Bruce C. Throne
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 …
Products Liability--The Expansion Of Fraud, Negligence, And Strict Tort Liability, John A. Sebert Jr.
Products Liability--The Expansion Of Fraud, Negligence, And Strict Tort Liability, John A. Sebert Jr.
Michigan Law Review
While judicial acceptance of this concept of strict tort liability has been proceeding apace, far less dramatic but equally significant developments have been occurring with respect to both negligence and fraud liability. The possibility of recovering for a seller's misrepresentations concerning his product has been enhanced by a plaintiff-oriented judicial redefinition of two elements of a cause of action for fraud: defendant's knowledge of the falsity of his representation and plaintiff's reliance upon the deception. At the same time, negligence liability has often come to resemble liability without fault as courts continue to deemphasize, as a prerequisite to the application …