In 2017 my Website was migrated to the clouds and reduced in size.
Hence some links below are broken.
One thing to try if a “www” link is broken is to substitute “faculty” for “www”
For example a broken link
http://www.trinity.edu/rjensen/Pictures.htm 
can be changed to corrected link
http://faculty.trinity.edu/rjensen/Pictures.htm
However in some cases files had to be removed to reduce the size of my Website
Contact me at 
rjensen@trinity.edu if you really need to file that is missing

The SEC charged a cloud executive with insider trading after he allegedly saved his brothers from $600,000 in losses ---
https://www.businessinsider.com/sec-charged-former-qualys-executive-insider-trading-allegations-2018-8


The Insane Saga of the Fake Saudi Prince Who Scammed Miami's Rich and Famous ---
https://www.vice.com/en_us/article/bjbnd8/the-insane-saga-of-the-fake-saudi-prince-who-scammed-miamis-rich-and-famous

Bob Jensen's Fraud Updates ---
http://faculty.trinity.edu/rjensen/FraudUpdates.htm

Accounting Scandal Updates and Other Fraud Between July 1 and September 30, 2019
Bob Jensen at
Trinity University

Bob Jensen's Main Fraud Document --- http://faculty.trinity.edu/rjensen/fraud.htm 

Bob Jensen's Enron Quiz (and answers) --- http://faculty.trinity.edu/rjensen/FraudEnronQuiz.htm

Bob Jensen's Enron Updates are at --- http://faculty.trinity.edu/rjensen/FraudEnron.htm#EnronUpdates 

Other Documents

Many of the scandals are documented at http://faculty.trinity.edu/rjensen/fraud.htm 

Bob Jensen's threads on fraud prevention and fraud reporting ---
http://faculty.trinity.edu/rjensen/FraudReporting.htm

Bob Jensen's personal finance helpers ---
http://faculty.trinity.edu/rjensen/Bookbob1.htm#InvestmentHelpers

My Latest Web Document
Over 400 Examples of Critical Thinking and Illustrations of How to Mislead With Statistics --
-
http://faculty.trinity.edu/rjensen/MisleadWithStatistics.htm




Largest Health Care Scam Ever: Fake Genetic Testing Result Scheme Results in $2.1 Billion in Medicaid Losses ---
https://www.newsweek.com/largest-health-care-scam-ever-fake-genetic-testing-result-scheme-results-21-billion-medicaid-1461901

Bob Jensen's threads on Medicaid and Medicare Fraud ---
http://faculty.trinity.edu/rjensen/FraudRotten.htm#Medicare

Jensen Comment
Essential to the schemes are usually unbelievably greedy and fraudulent doctors.


 


Ponzi Fraud --- https://en.wikipedia.org/wiki/Ponzi_scheme

NYT:  The S.E.C. has prosecuted 50 percent more Ponzi cases in the last 10 years. Those scams cost their victims $31 billion ---
https://www.nytimes.com/2019/09/22/business/ponzi-scheme-bernie-madoff.html

Bob Jensen's threads on Ponzi frauds ---
http://faculty.trinity.edu/rjensen/FraudRottenPart2.htm#Ponzi

Bob Jensen's Fraud Updates ---
http://faculty.trinity.edu/rjensen/FraudUpdates.htm


Yahoo Finance:  Did the Obama administration commit the ‘biggest accounting fraud in history' with student loans? Experts weigh in ---
https://finance.yahoo.com/news/obama-administration-student-loans-experts-113140861.html

The Wall Street Journal’s editorial board (WSJ) recently suggested that the Obama administration pulled off “the biggest accounting fraud in history” with student loans when eliminating the role of private lenders in the federal student lending market.

Experts who spoke with Yahoo Finance acknowledged the issue with the general policy in hindsight, though they disagreed on who exactly is to blame.

In 2010, Democrats “nationalized the market to help pay for Obama Care,” WSJ asserted. “The Congressional Budget Office at the time forecast that eliminating private lenders would save taxpayers $58 billion over 10 years. This estimate was pure fantasy, and now we’re seeing how much.”

The WSJ op-ed also highlighted the rising number of severely delinquent student loans since then and blamed the Obama administration for expanding plans in 2012 for new borrowers “to reduce defaults, buy off millennial voters and disguise the cost of its student-loan takeover.”

The editorial board then added: “This may be the biggest accounting fraud in history.”

More

‘There’s no way around that’

WSJ argued that eliminating private lenders from the student loan market severely hurt Americans and that by using fair-market accounting, it becomes clear that student loans will actually cost taxpayers nearly $307 billion over the next 10 years.

Douglas Holtz-Eakin, former director of the Congressional Budget Office (CBO) during the George W. Bush administration and currently president of the center-right American Action Forum, agreed that the accounting discrepancy manifested because of the “technique” used by the CBO to evaluate the cost of these loan programs.

“A widely known deficiency of the Federal Credit and Reform Act is that it does not allow the CBO to incorporate [market risk] into assessments," Holtz-Eakin told Yahoo Finance. “So the loans, when they're evaluated are evaluated as safer than they truly are, and thus, the losses are smaller than they may truly be. And there's no way around that — the techniques force you to do that.”

He added that “that's why when you when they switched from the private loans to the government loans, it appeared to save money... that is misleading. I don't disagree, but it's not the CBO's fault — those are the rules.”

Sheila Bair, the chair of the U.S. Federal Deposit Insurance Corporation (FDIC) from 2006 to 2011, agreed that the WSJ was “right to call out the government” on the accounting issue and stressed that it is “a huge problem with federal budgeting and transparency generally.”

Income-based repayment plans were ‘poorly designed’

The WSJ argued that the key catalyst for the student debt crisis today — $1.48 trillion student loans outstanding, with 35% of the consumer loans in the “severely derogatory” category — was a result of the Obama administration’s policies regarding income-driven repayment (IDR) plans.

IDR plans allow borrowers to cap monthly student loan payments based on how much money they are making at a given time. As of September 2018, “almost half of the $898 billion in outstanding federal Direct Loans [were] being repaid by borrowers using IDR plans,” according to the Government Accountability Office.

Continued in article


Teaching Case from IAE:  Unmasking the Fraud at Toshiba
by Dennis H. Caplan, Saurav K. Dutta, and David J. Marcinko
Issues in Accounting Education
Article Volume 34, Issue 3 (August 2019)

https://aaajournals.org/doi/full/10.2308/iace-52429

Following its purchase of Westinghouse Electric Company and subsequent macroeconomic events, Toshiba faced declining profits. In response, Toshiba engaged in earnings management through two accounting treatments. First, it delayed the recognition of losses under long-term contracts. Second, it inappropriately applied price masking to account for transfers of components between itself and contract manufacturers. Students using this case will assess how business risks and corporate culture relate to audit risk, and how accounting for price-masking transactions can lead to increased fraud risk. Students will also research aspects of auditing standards related to fraud and accounting estimates. The case is designed for auditing courses and capstone courses with an auditing component.

. . .

V. AFTERMATH

Following the scandal, Ernst & Young ShinNihon was fined $17.3M (¥2.1 billion) by Japan's Financial Services Agency for negligence in connection with the firm's audit of Toshiba. Also, Ernst & Young ShinNihon was suspended from taking on new business for three months. The regulatory agency also suspended seven individuals from working as auditors for a period of one to six months.

On March 29, 2017, Westinghouse, a once-proud name that symbolized American supremacy in nuclear power, filed for bankruptcy protection. In 2018, Toshiba sold Westinghouse to Brookfield Business Partners for $4.6 billion. With the sale of Westinghouse, Toshiba plans to discontinue its overseas nuclear power business. Toshiba reported a net loss of $9.6 billion for fiscal 2016. Also in 2018, Toshiba sold one of its crown jewels, the memory chip business, to a group led by Bain Capital for approximately $18 billion.

 Jensen Comment
This is a very well-written case with a lot of helpers on how to use it in courses.

Current and past editions of my blog called Fraud Updates --- http://faculty.trinity.edu/rjensen/FraudUpdates.htm


Soaring Student Debt Opens Door to Relief Scams ---
https://www.wsj.com/articles/soaring-student-debt-opens-door-to-relief-scams-11566826805


Feds paid $1 billion in Social Security benefits to individuals without a Social Security Number ---
https://freebeacon.com/issues/feds-paid-1-billion-social-security-benefits-individuals-without-ssn/?utm_source=Freedom+Mail&utm_campaign=f181a5137d-EMAIL_CAMPAIGN_2017_02_21&utm_medium=email&utm_term=0_b5e6e0e9ea-f181a5137d-46179017

Errors occurred because the agency did not keep paper applications supporting an individual’s case to receive benefits

The Social Security Administration paid $1 billion in benefits to individuals who did not have a Social Security Number (SSN), according to a new audit.

The agency’s inspector general found errors in the government’s documentation for representative payees, otherwise known as individuals who receive retirement or disability payments on behalf of another person who is incapable of managing the benefits themselves.

The audit released Friday found thousands of cases where there was no SSN on file.

Over the last decade, the agency paid $1 billion to 22,426 representative payees who "did not have an SSN, and SSA had not followed its policy to retain the paper application."

"Furthermore, unless it takes corrective action, we estimate SSA will pay about $182.5 million in benefits, annually, to representative payees who do not have an SSN or paper application supporting their selection," the inspector general said.

The inspector general also found the agency paid $853.1 million in benefits since 2004 to individuals who had been terminated as representative payees by the agency.

The inspector general said the errors occurred because the agency did not keep paper applications supporting an individual’s case to receive benefits on behalf of another and did not update its system if their status was terminated.

Only six percent of representative payees had SSNs that were properly recorded, based on the audit’s sample of 100 beneficiaries.

Government benefits are also going to illegal aliens through the representative payee system. 17 percent of representative payees in the sample did not have an SSN recorded because they were undocumented noncitizens, the inspector general said.

Illegal aliens without SSNs are allowed to receive benefits from the government when acting as representatives for their minor children.

In response to the audit, the SSA said it switched to a new Electronic Representative Payee System last year, and transferring representative payee information "may have resulted in applications showing as terminated or not selected."

The government defended the issuance of benefits to noncitizens and persons without an SSN.

 Continued in article


“In China, bad research can be worth gold.” Neue Zürcher Zeitung explored misconduct in China ---
https://www.nzz.ch/wissenschaft/chinesische-forschung-wieso-so-oft-gefaelscht-wird-ld.1484509
Jensen Comment
I could not read this article, but I think the conclusion is not good for China after Zürcher scoured the Retraction Watch database of published paper retractions


Science Alert, Some of The World's Most-Cited Scientists Have a Secret That's Just Been Exposed:---
https://www.sciencealert.com/some-of-the-world-s-most-cited-scientists-have-a-secret-that-s-just-been-exposed

Jensen Comment
Surely our accountics scientists are too honorable to play that game. But if accounting practitioners and business employees aren't reading those highly-cited academic accounting articles how why are their citations soaring?


FBI is investigating after computer hackers stole $4.2 million in funds from the Oklahoma State Highway Patrol Pension Fund ---
https://techxplore.com/news/2019-09-oklahoma-pension-fund-million-cyber.html 


Amtrak accounting tricks cover up losses ---
https://www.truthinaccounting.org/news/detail/amtrak-accounting-tricks-cover-up-losses


Accountants Behaving Badly: FUBARed Over FBARs, Fake Returns, Landscaping Larceny ---
https://goingconcern.com/accountants-behaving-badly-fubared-over-fbars-fake-returns-landscaping-larceny/

Bob Jensen's Fraud Updates --- http://faculty.trinity.edu/rjensen/FraudUpdates.htm


From the CFO Journal's Morning Ledger on August 18, 2019

Good morning. General Electric Co.’s share price dropped following a report by an accounting expert who alleged the struggling conglomerate has masked the depths of its problems, resulting in inaccurate and fraudulent financial filings with regulators.

Harry Markopolos, who raised red flags about Bernie Madoff’s Ponzi scheme, said his group found GE’s insurance unit will need to bolster its reserves by $18.5 billion in cash, and he faulted the way the company is accounting for its oil-and-gas business. All told, he said, the accounting problems amount to $38 billion, or 40% of the conglomerate’s market value.

“This is market manipulation—pure and simple,” GE Chief Executive Officer Larry Culp said in a statement. GE stood by its financial reporting and said the Markopolos report was produced to help short sellers by creating volatility in GE shares.

GE, which is currently searching for a new finance chief, is already under investigation by the U.S. Securities and Exchange Commission and the Justice Department for potential accounting issues that have come to light in the past two years related to its insurance holdings and problems in its power division.

CNBC:  GE plunges after whistleblower calls it a bigger fraud than Enron ---
https://www.msn.com/en-us/money/companies/ge-plunges-after-whistleblower-calls-it-a-bigger-fraud-than-enron/ar-AAFQjYf?ocid=se

Another KPMG embarrassment in the making!

GE Claims It's No Enron
From the CFO Journal's Morning Ledger on August 20, 2019

Good morning. General Electric Co.’s finance and investor relations team pushed back further on Monday against claims by accounting expert Harry Markopoulos who accused the industrial conglomerate of masking its financial problems and filing inaccurate or fraudulent information with regulators, The Wall Street Journal reports.

In a new investor update, the company said it believes the current reserves for its long-term-care insurance business are well supported by its portfolio of investments. GE also defended the accounting for its oil-and-gas business.

The company said it has “been up front and transparent about the long-term liabilities,” and there are “a lot of viewpoints in the market regarding the risks and financial obligations across the entire [long-term-care] industry.” It said that as a reinsurer, it isn’t responsible for 100% of every risk in that business. GE also said the “adverse differences” between its policies and those from other companies are significantly overstated.

Mr. Markopolos’s group estimated, in its report, that GE will need to increase its insurance reserves by $18.5 billion in cash and take a $10.5 billion charge because of an accounting change in 2021. GE said Monday it wouldn’t need to make a cash contribution of $29 billion to the long-term-care insurance business.


The FBI’s Nigerian email scam ring bust shows how the billion-dollar global fraud has evolved ---
https://qz.com/africa/1693540/fbi-bust-of-nigerian-email-fraud-shows-evolving-scam-tactics/

Bob Jensen's Fraud Updates ---
http://faculty.trinity.edu/rjensen/FraudUpdates.htm


Current and former Goldman Sachs directors are facing criminal charges over the 1MDB scandal in Malaysia, including Alibaba's president ---
https://markets.businessinsider.com/news/stocks/1mdb-scandal-17-goldman-sachs-directors-facing-criminal-charges-michael-evans-2019-8-1028433717


A significant minority of tenured faculty spend their lives undermining others when they could be working for progressive change ---
https://www.timeshighereducation.com/features/turn-away-tenures-dark-side


Former Employee Defrauded University Of Texas Law School Out Of $1.6 Million ---
https://taxprof.typepad.com/taxprof_blog/2019/09/former-employee-defrauded-texas-law-school-out-of-16-million.html 


Sports Illustrated:  She Won Athletes' Hearts. And Robbed Them Blind
https://www.si.com/nba/2019/09/19/athete-financial-advisor-embezzlement-fraud-scandal-peggy-ann-fulford

. . .

Peggy's scheme was as basic as it was brazen. Typically, she would offer to manage a victim's (sports star's) finances—no fee—and start two bank accounts where the new client's income would be deposited as it flowed in. One was a joint account for living expenses; the other, ostensibly for investments, would be funneled into her own coffers, aided by a power of attorney that she secured thanks to her supposed legal credentials.

Other times Peggy's thievery was as simple as charging the Williamses $60,000 for their wedding when it actually cost half that, Kristin says. On another occasion, according to one of Ricky's business partners, a credit card machine at Williams's South Beach restaurant was swapped out for one that fed into an outside account.

The fruits of all these labors were readily on display. The two Bentleys and the Maserati in her Fort Lauderdale driveway were purchased with stolen funds, not to mention four Benzes, three Range Rovers, a Porsche and a Rolls-Royce Ghost. There was jewelry and clothing. Rent on a condo at Trump Towers in Miami, along with hefty mortgage installments for homes in multiple states, private school tuition, international flights and nearly $2 million in American Express bills—all of it creating the smokescreen of someone who'd worked hard and earned big.

Which was all true, in a sense. Peggy clearly applied some impressive financial literacy when it came to the art of avoiding detection. On top of those 85-plus bank accounts, Hawkins and Beek also turned up more than 20 shell corporations, registered across multiple states, through which Peggy laundered money, including the Dennis Rodman Group LLC, Dennis Rodman Group & Associates LLC and Dennis Rodman Inc.

At one point Hawkins and Beek found Peggy's financial web to be so knotted that they abandoned the dizzying quest of tracing her dirty money and instead began looking for sources of legitimate income—something—anything—that wasn't pilfered from one of her victims. "Does she have a job? Is there money coming from anywhere else?" Beek asked. "The answer was, pretty much, no."

From there, the investigation was rounded out by two major events. The first was the discovery that in 2013 Peggy had wired nearly $300,000—much of it originating from Wells Fargo funds in the Hilliards' account in Montana—to a Texas-based title company for the closure on a half-acre lot in a posh neighborhood near downtown Houston, tidily establishing federal jurisdiction in Hawkins's and Beek's backyard.

The second was the 2016 FBI interview in New Orleans. By the time Hawkins knocked on Peggy's apartment door, accompanied by two agents from the local bureau, it was clear that Peggy had hit a rough patch. Gone were the luxury cars, the multiple homes, the steady cash flow. She'd recently filed for bankruptcy (using a stolen social security number) to prevent a foreclosure on one of her Florida properties, and her fifth husband—the surgeon from the sizzle reel, which never did get turned into a TV show, had filed for an annulment on the grounds of bigamy. When that was finalized, a judge ruled that Peggy owed her ex upward of $2 million in back pay for work he'd done at King Management.

Peggy's client relationships were crumbling too. In 2015, TMZ reported that Rodman (through Cohen) had sent her a scathing missive, firing her and accusing her of fraud. Peggy denied any wrongdoing, telling TMZ, "The whole letter is crazy and bogus. I've been with him through thick and thin."

In New Orleans, Hawkins heard similar denials, again and again, regardless of what evidence he put in front of Peggy. But he was unconvinced. "I felt very confident after interviewing her that we had a good case," he says. Sure enough, FBI agents from the New Orleans office returned to her apartment in December 2016, this time with handcuffs and an eight-count federal indictment against Peggy Ann Fulford (her fifth husband's surname).

The feds would leave that day with additional ammo. While combing through her apartment, Hawkins's colleagues spotted something unusual sitting on a nightstand in plain sight: a personal check, written to Peggy by a local orthopedic surgeon for $197,000.

Hawkins looked into it. Peggy had solicited the doctor under the guise of helping finance the redevelopment of an old New Orleans high school into an assisted living facility. But the owner of the property supposedly for sale told Hawkins that she hadn't heard of Peggy. And they certainly had never done business together.

The defendant was led into Courtroom 3A through a side door, a chain restraint dangling around her waist. She wore an olive prison uniform with a long-sleeve undershirt, and her brown hair was tied in a ponytail. Standing next to her public defender, she spotted her father in the gallery and mustered a faint grin. She did not look across the aisle, where a group of her victims glared back.

Finally, Peggy was playing it somewhat straight. Confronted with overwhelming evidence, she had pleaded guilty nine months earlier, in February 2018, to count No. 4 of the federal indictment, interstate transportation of stolen property (the roughly $200,000 that she admitted looting from the Hilliards for the closing costs of that half-acre Houston lot). The other seven counts were dropped as part of a plea deal. Now she was appearing in front of Judge Keith P. Ellison of the Southern District of Texas to learn her punishment. The statutory maximum was 10 years.

After some early legal minutiae and a sniffly opening monologue from Peggy—"I accept full responsibility and any consequences associated with my actions. . . . I am so sorry that I hurt the people that I really loved"—Beek called her first witness. From the second row along the right side of the gallery, Kristin Williams walked to the stand.

"Summarizing years of lying and cheating and stealing have proved to be quite difficult for me," Kristin began, reading from a prepared statement and rattling off moments of financial misery that Peggy had caused. Like the morning when she couldn't afford groceries because her checking account was bare. The time Peggy filed for $334,000 in fraudulent tax refunds on Ricky's behalf, claimed the money for herself by posing as Ricky's wife—an easy deception, given that her fourth husband also had the last name Williams—and promptly spent it.

Back in her gallery seat, Kristin got a pat on the back from someone who knew exactly how she felt. Of the four professional athletes listed as victims in Peggy's indictment, only Travis Best had traveled to Houston for the sentencing. (Kristin spoke on Ricky's behalf, having remained close to him despite their 2016 divorce. Rebekah Hilliard represented Lex with similar testimony. No one from Rodman's camp attended.) But the presence of the former NBA point guard was fitting. After all, Beek told the court, Best was the defendant's very first prey.

Continued in article

Current and past editions of my blog called Fraud Updates --- http://faculty.trinity.edu/rjensen/FraudUpdates.htm


Avoiding Scam Artists at Home and Abroad ---
https://www.activeresponsetraining.net/avoiding-scam-artists-at-home-and-abroad

Don’t Fall for the Suspended Social Security Number Scam ---
https://money.usnews.com/money/retirement/social-security/articles/dont-fall-for-the-suspended-social-security-number-scam


Google will pay big to settle a YouTube lawsuit. The tech giant has agreed to pay $170 million following allegations by the Federal Trade Commission and New York state that YouTube illegally collected user information from children to sell for targeted advertisements. ---
https://www.cnn.com/2019/09/04/tech/google-youtube-ftc-settlement/index.html


Accountants Behaving Badly: FUBARed Over FBARs, Fake Returns, Landscaping Larceny ---
https://goingconcern.com/accountants-behaving-badly-fubared-over-fbars-fake-returns-landscaping-larceny/


University of Georgia Employee Stole $1.3 Million (there were no internal controls) ---
https://www.insidehighered.com/quicktakes/2019/09/03/university-georgia-employee-stole-13-million?utm_source=Inside+Higher+Ed&utm_campaign=b9c4f87d4a-DNU_2019_COPY_01&utm_medium=email&utm_term=0_1fcbc04421-b9c4f87d4a-197565045&mc_cid=b9c4f87d4a&mc_eid=1e78f7c952


How Aflac fraudulently goosed its sales
From the CFO Journal's Morning Ledger on August 23, 2019

Insurer Aflac Inc. shares slid on news reports that a scandal at Japan Post Holdings Co. included improper sales of Aflac products


Fraud:  The Collapse Of A Hospital Empire — And Towns Left In The Wreckage ---
https://khn.org/news/rural-hospital-empire-collapse-missouri-town-fallout-jorge-a-perez-empowerhms/


Brickbat: Big Money --- https://reason.com/2019/08/12/brickbat-big-money/

Jensen Comment
Auditors would say:  Where were the internal controls?


The CPA Journal:  Fraud in the World of Advanced Technologies ---
https://www.cpajournal.com/2019/07/01/fraud-in-a-world-of-advanced-technologies/


From the CFO Journal's Morning Ledger on August 13, 2019

A new arrival to Wall Street and former student-body president at New York University’s Stern School of Business was charged with insider trading tied to a $1.7 billion buyout. Bill Tsai, a 23-year-old analyst at RBC Capital Markets, was arrested and charged with criminal securities fraud, according to federal prosecutors in New York.


Former Financial Advisor Dawn Bennett Gets 20-Year Prison Sentence --- |
https://www.barrons.com/articles/former-advisor-dawn-bennett-gets-20-year-prison-sentence-51564682701


Cambridge Analytica --- https://en.wikipedia.org/wiki/Cambridge_Analytica

The U.S. Federal Trade Commission approved a record privacy settlement against Facebook requiring the social-media company to pay about $5 billion to resolve an investigation stemming from the Cambridge Analytica data scandal ---
https://www.bloomberg.com/news/articles/2019-07-12/ftc-approves-facebook-privacy-settlement-worth-about-5-billion?cmpid=BBD071219_BIZ&utm_medium=email&utm_source=newsletter&utm_term=190712&utm_campaign=bloombergdaily

Bob Jensen's Fraud Updates ---
http://faculty.trinity.edu/rjensen/FraudUpdates.htm


Fraud and Corruption Bring Big Payoffs ---
https://townhall.com/columnists/pauldriessen/2019/08/03/fraud-and-corruption-bring-big-payoffs-n2551135?utm_source=thdaily&utm_medium=email&utm_campaign=nl&newsletterad=08/04/2019&bcid=b16c6f948f297f77432f990d4411617f&recip=17935167


BDO Puerto Rico Managing Partner Resigns After Indictment In Massive Corruption Scandal ---
https://goingconcern.com/bdo-puerto-rico-managing-partner-resigns-after-indictment-in-massive-corruption-scandal/

Bob Jensen's threads on the BDO accounting firm ---
http://faculty.trinity.edu/rjensen/fraud001.htm


Excel;  How to stop hackers from exploiting an Excel vulnerability ---
https://www.zdnet.com/article/microsoft-excel-power-query-feature-can-be-abused-for-malware-distribution/


Damning report reveals rampant sexual harassment at US Coast Guard Academy ---
https://www.blabber.buzz/conservative-news/608501-damning-report-reveals-rampant-sexual-harassment-at-us-coast-guard-academy-special?utm_source=c-alrt&utm_medium=c-alrt-email&utm_term=c-alrt-GI


A Fish Tale
The Pakastan Journal of Zoology has retracted six papers that share a co-author who the editors say “exploited the peer-review process in the Journal of Zoology by generating fake reviewers[sic] email addresses.”

https://retractionwatch.com/2019/07/05/journal-editors-flabbergasted-by-responses-to-authors-ruse/


Former governor of Rio paid $2m bribe to win 2016 Olympics — defeating Chicago’s bid in the process
https://www.chicagotribune.com/sports/olympics/ct-rio-chicago-olymics-bribe-20190705-aw4lkxybwbanpb4zyg3j4i6jl4-story.html?outputType=amp&__twitter_impression=true


How to mislead with statistics

The United States of Elder Fraud – How Prevalent is Elder Financial Abuse in Each State?
https://www.comparitech.com/blog/vpn-privacy/elder-fraud-by-state/

This is not a totally misleading article. However, some exhibits are misleading like the color-coded map of the 50 states showing the extremely low elder fraud rates in Alaska, Vermont, Hawaii, Wyoming, North Dakota, and Vermont. Guess what? This is more due to low populations than to elder fraud rates.


An Arm of the World Bank Has Been Implicated in Latin America's Biggest Corruption Scandal ---
https://time.com/5618835/world-bank-international-finance-corporation-graft-grupo-aval/?utm_source=time.com&utm_medium=email&utm_campaign=the-brief&utm_content=2019070210am&xid=newsletter-brief


Katy Perry and her collaborators must pay $2.7 million for copying Christian rap song ---
https://www.businessinsider.com/katy-perry-copying-christian-rap-song-dark-horse-2019-8


Former Financial Advisor Dawn Bennett Gets 20-Year Prison Sentence --- |
https://www.barrons.com/articles/former-advisor-dawn-bennett-gets-20-year-prison-sentence-51564682701


Thoughts on Detroit ---
https://www.perell.com/tweetstorms/detroit

Jensen Comment
There are several types of cities. First there are cities that are huge like London and Mexico City. The there are cities that are large with relatively small suburbs like San Antonio. In the USA there are quite not-so-big cities where the population resides largely in the suburbs --- like San Francisco, Baltimore, and LA. Then there are historic cities that had strong ethnic subsections that are not so markedly ethnic these days --- Exhibit A is New York City. Detroit lost over a million residents in less than five decades. Residents escaped lousy schools that are unsafe for various reasons, most notably drug dealing and gangs. Automobile manufacturing moved south not just for higher wages. Union militancy made it difficult to adapt to automation and other technologies. Cities with the biggest population losses suffered from extremes in City Hall corruption. Exhibits A and B are Detroit and Chicago.
The above article is weak on statistics but reasonably informative about what to expect if you visit Detroit. Detroit fell behind cities like San Francisco and New Orleans as conference centers in spite of the steaming heat of New Orleans and the open sewers of San Francisco.

 


Fall River mayor Jasiel Correia was arrested on Friday by the FBI. He was accused of extorting legal marijuana vendors in exchange for his support ---
https://www.businessinsider.com/jasiel-correia-fall-river-mayor-arrest-charged-extorting-marijuana-businesses-2019-9


“In China, bad research can be worth gold.” Neue Zürcher Zeitung explored misconduct in China ---
https://www.nzz.ch/wissenschaft/chinesische-forschung-wieso-so-oft-gefaelscht-wird-ld.1484509
Jensen Comment
I could not read this article, but I think the conclusion is not good for China after scouring the Retraction Watch database of published paper retractions.


The Economist:  Why America’s real-estate brokers are such a rip-off ---
https://www.economist.com/united-states/2019/08/29/why-americas-real-estate-brokers-are-such-a-rip-off


 

 

 

 

 




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  • Other Links
    Main Document on the accounting, finance, and business scandals --- http://faculty.trinity.edu/rjensen/Fraud.htm 

    Bob Jensen's Enron Quiz --- http://faculty.trinity.edu/rjensen/FraudEnronQuiz.htm

    Bob Jensen's threads on professionalism and independence are at  file:///C:/Documents%20and%20Settings/dbowling/Local%20Settings/Temporary%20Internet%20Files/OLK36/FraudUpdates.htm#Professionalism 

    Bob Jensen's threads on pro forma frauds are at http://faculty.trinity.edu/rjensen//theory/00overview/theory01.htm#ProForma 

    Bob Jensen's threads on ethics and accounting education are at 
    http://faculty.trinity.edu/rjensen/FraudProposedReforms.htm#AccountingEducation

    The Saga of Auditor Professionalism and Independence ---
    http://faculty.trinity.edu/rjensen/fraud001.htm#Professionalism
     

    Incompetent and Corrupt Audits are Routine ---
    http://faculty.trinity.edu/rjensen/FraudConclusion.htm#IncompetentAudits

    Bob Jensen's threads on accounting theory are at http://faculty.trinity.edu/rjensen/theory.htm 

    Future of Auditing --- http://faculty.trinity.edu/rjensen/FraudConclusion.htm#FutureOfAuditing 

     

     


     

    The Consumer Fraud Portion of this Document Was Moved to http://faculty.trinity.edu/rjensen/FraudReporting.htm 

     

     

     

     

    Bob Jensen's home page is at http://faculty.trinity.edu/rjensen/