Economic fraud
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This document discusses economic fraud, including definitions, common types, and famous cases. It defines fraud as any intentional deception or omission to gain an unfair advantage. The three main types of fraud are financial statement fraud, corruption, and asset misappropriation. Financial statement fraud involves deliberately misleading financial reports. Corruption uses undue influence for personal gain. Asset misappropriation involves theft or misuse of company resources. Famous fraudsters mentioned include Charles Ponzi, known for Ponzi schemes, Jérôme Kerviel who conducted rogue trading, and Bernard Madoff whose Ponzi scheme caused $64.8 billion in losses.
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Running Head Ponzi Schemes .docx
Running Head: Ponzi Schemes 1
Ponzi Schemes 11
Running head (Header not in proper APA format)
Ponzi Schemes Comment by Lamar, Angelo: Center please.
Latoya Smith
Bethel University
MOD 450
Dr. Angelo Lamar
February 14, 2019
Abstract
Ponzi schemes date back in 1920’s when Charles Ponzi got involved in a disreputable money generating scheme. Initially the scheme had been tried without success but Charles managed to be the first person to embezzle millions from rather ignorant and innocent credulous people. This is the main reason the scheme bears Ponzi’s name. Later in 2008, one of the Ponzi’s conspirators was brought to the light. Madoff had conned investors of their money for close to thirty years. Unfortunately, the conned investors were all classy and literate. This paper is aimed at providing brief history of the Ponzi schemes and an illustration of how Ponzi schemes work. The second aim of the paper is to give examples of historically popular Ponzi schemers. In addition the paper provides some common characteristics of Ponzi schemes to be able to facilitate easy identification of illegal Ponzi schemes. The paper ends by providing hints on how to avoid unlawful and notorious Ponzi schemes. Comment by Lamar, Angelo: Keep up the good work here.
Introduction Comment by Lamar, Angelo: The title to your paper should go above this heading.
Ponzi schemes are typical fraudulent investments in which the owner promises the investors abnormally high financial returns from their investment. The scheme operator does not invest the investors’ money; instead, the operator uses the funds from new investors to pay the already existing investors their dividends. The schemes operate smoothly until they lack adequate subsequent investors to sustain payment of dividends to existing investors. This is according to the federal bureau of investigation’s definition of Ponzi schemes. A Ponzi scheme may also seize to operate when the notorious, illegal and fraudulent business is discovered by the government or any other legal authority. Comment by Lamar, Angelo: If so, where is the citation? If information does not come from you then give credit to where it came from.
According to the business dictionary Ponzi schemes are scams which operate on the hope of continued increase in the number of incoming investors to facilitate paying the returns to the former investors. The operations come to a halt when the amount of money getting out of the business exceeds the incoming amount. However, the schemers are wise enough to flee before the business crashes down. In this scenario the schemer tends to escape with large.
Running Head Ponzi Schemes .docx
Running Head: Ponzi Schemes 1
Ponzi Schemes 11
Running head (Header not in proper APA format)
Ponzi Schemes Comment by Lamar, Angelo: Center please.
Latoya Smith
Bethel University
MOD 450
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Abstract
Ponzi schemes date back in 1920’s when Charles Ponzi got involved in a disreputable money generating scheme. Initially the scheme had been tried without success but Charles managed to be the first person to embezzle millions from rather ignorant and innocent credulous people. This is the main reason the scheme bears Ponzi’s name. Later in 2008, one of the Ponzi’s conspirators was brought to the light. Madoff had conned investors of their money for close to thirty years. Unfortunately, the conned investors were all classy and literate. This paper is aimed at providing brief history of the Ponzi schemes and an illustration of how Ponzi schemes work. The second aim of the paper is to give examples of historically popular Ponzi schemers. In addition the paper provides some common characteristics of Ponzi schemes to be able to facilitate easy identification of illegal Ponzi schemes. The paper ends by providing hints on how to avoid unlawful and notorious Ponzi schemes. Comment by Lamar, Angelo: Keep up the good work here.
Introduction Comment by Lamar, Angelo: The title to your paper should go above this heading.
Ponzi schemes are typical fraudulent investments in which the owner promises the investors abnormally high financial returns from their investment. The scheme operator does not invest the investors’ money; instead, the operator uses the funds from new investors to pay the already existing investors their dividends. The schemes operate smoothly until they lack adequate subsequent investors to sustain payment of dividends to existing investors. This is according to the federal bureau of investigation’s definition of Ponzi schemes. A Ponzi scheme may also seize to operate when the notorious, illegal and fraudulent business is discovered by the government or any other legal authority. Comment by Lamar, Angelo: If so, where is the citation? If information does not come from you then give credit to where it came from.
According to the business dictionary Ponzi schemes are scams which operate on the hope of continued increase in the number of incoming investors to facilitate paying the returns to the former investors. The operations come to a halt when the amount of money getting out of the business exceeds the incoming amount. However, the schemers are wise enough to flee before the business crashes down. In this scenario the schemer tends to escape with large.
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This presentation is to help inform people and make them aware of embezzlement.
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The initial stage of the supply chain process is the planning stage. We need to develop a plan or strategy in order to address how the products and services will satisfy the demands and necessities of the customers. In this stage, the planning should mainly focus on designing a strategy that yields maximum profit.
For managing all the resources required for designing products and providing services, a strategy has to be designed by the companies. Supply chain management mainly focuses on planning and developing a set of metrics.
1.4.2) Develop (Source)
After planning, the next step involves developing or sourcing. In this stage, we mainly concentrate on building a strong relationship with Develop of the raw materials required for
production. This involves not only identifying dependable suppliers but also determining different planning methods for shipping, delivery, and payment of the product.
Companies need to select suppliers to deliver the items and services they require to develop their product. So, in this stage, the supply chain managers need to construct a set of pricing, delivery and payment processes with suppliers and also create the metrics for controlling and improving the relationships.
Finally, the supply chain managers can combine all these processes for handling their goods and services inventory. This handling comprises receiving and examining shipments, transferring them to the manufacturing facilities and authorizing supplier payments.
1.4.3) Make
The third step in the supply chain management process is the manufacturing or making of products that were demanded by the customer. In this stage, the products are designed, produced, tested, packaged, and synchronized for delivery.
Here, the task of the supply chain manager is to schedule all the activities required for manufacturing, testing, packaging and preparation for delivery. This stage is considered as the most metric-intensive unit of the supply chain, where firms can e gauge the quality levels, production output and worker productivity.
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Running Head Ponzi Schemes .docx
Running Head: Ponzi Schemes 1
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Running head (Header not in proper APA format)
Ponzi Schemes Comment by Lamar, Angelo: Center please.
Latoya Smith
Bethel University
MOD 450
Dr. Angelo Lamar
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Abstract
Ponzi schemes date back in 1920’s when Charles Ponzi got involved in a disreputable money generating scheme. Initially the scheme had been tried without success but Charles managed to be the first person to embezzle millions from rather ignorant and innocent credulous people. This is the main reason the scheme bears Ponzi’s name. Later in 2008, one of the Ponzi’s conspirators was brought to the light. Madoff had conned investors of their money for close to thirty years. Unfortunately, the conned investors were all classy and literate. This paper is aimed at providing brief history of the Ponzi schemes and an illustration of how Ponzi schemes work. The second aim of the paper is to give examples of historically popular Ponzi schemers. In addition the paper provides some common characteristics of Ponzi schemes to be able to facilitate easy identification of illegal Ponzi schemes. The paper ends by providing hints on how to avoid unlawful and notorious Ponzi schemes. Comment by Lamar, Angelo: Keep up the good work here.
Introduction Comment by Lamar, Angelo: The title to your paper should go above this heading.
Ponzi schemes are typical fraudulent investments in which the owner promises the investors abnormally high financial returns from their investment. The scheme operator does not invest the investors’ money; instead, the operator uses the funds from new investors to pay the already existing investors their dividends. The schemes operate smoothly until they lack adequate subsequent investors to sustain payment of dividends to existing investors. This is according to the federal bureau of investigation’s definition of Ponzi schemes. A Ponzi scheme may also seize to operate when the notorious, illegal and fraudulent business is discovered by the government or any other legal authority. Comment by Lamar, Angelo: If so, where is the citation? If information does not come from you then give credit to where it came from.
According to the business dictionary Ponzi schemes are scams which operate on the hope of continued increase in the number of incoming investors to facilitate paying the returns to the former investors. The operations come to a halt when the amount of money getting out of the business exceeds the incoming amount. However, the schemers are wise enough to flee before the business crashes down. In this scenario the schemer tends to escape with large.
Running Head Ponzi Schemes .docx
Running Head: Ponzi Schemes 1
Ponzi Schemes 11
Running head (Header not in proper APA format)
Ponzi Schemes Comment by Lamar, Angelo: Center please.
Latoya Smith
Bethel University
MOD 450
Dr. Angelo Lamar
February 14, 2019
Abstract
Ponzi schemes date back in 1920’s when Charles Ponzi got involved in a disreputable money generating scheme. Initially the scheme had been tried without success but Charles managed to be the first person to embezzle millions from rather ignorant and innocent credulous people. This is the main reason the scheme bears Ponzi’s name. Later in 2008, one of the Ponzi’s conspirators was brought to the light. Madoff had conned investors of their money for close to thirty years. Unfortunately, the conned investors were all classy and literate. This paper is aimed at providing brief history of the Ponzi schemes and an illustration of how Ponzi schemes work. The second aim of the paper is to give examples of historically popular Ponzi schemers. In addition the paper provides some common characteristics of Ponzi schemes to be able to facilitate easy identification of illegal Ponzi schemes. The paper ends by providing hints on how to avoid unlawful and notorious Ponzi schemes. Comment by Lamar, Angelo: Keep up the good work here.
Introduction Comment by Lamar, Angelo: The title to your paper should go above this heading.
Ponzi schemes are typical fraudulent investments in which the owner promises the investors abnormally high financial returns from their investment. The scheme operator does not invest the investors’ money; instead, the operator uses the funds from new investors to pay the already existing investors their dividends. The schemes operate smoothly until they lack adequate subsequent investors to sustain payment of dividends to existing investors. This is according to the federal bureau of investigation’s definition of Ponzi schemes. A Ponzi scheme may also seize to operate when the notorious, illegal and fraudulent business is discovered by the government or any other legal authority. Comment by Lamar, Angelo: If so, where is the citation? If information does not come from you then give credit to where it came from.
According to the business dictionary Ponzi schemes are scams which operate on the hope of continued increase in the number of incoming investors to facilitate paying the returns to the former investors. The operations come to a halt when the amount of money getting out of the business exceeds the incoming amount. However, the schemers are wise enough to flee before the business crashes down. In this scenario the schemer tends to escape with large.
C:\Fakepath\Floydpowerpoint
This presentation is to help inform people and make them aware of embezzlement.
Fraud Management ppt.pptx
The initial stage of the supply chain process is the planning stage. We need to develop a plan or strategy in order to address how the products and services will satisfy the demands and necessities of the customers. In this stage, the planning should mainly focus on designing a strategy that yields maximum profit.
For managing all the resources required for designing products and providing services, a strategy has to be designed by the companies. Supply chain management mainly focuses on planning and developing a set of metrics.
1.4.2) Develop (Source)
After planning, the next step involves developing or sourcing. In this stage, we mainly concentrate on building a strong relationship with Develop of the raw materials required for
production. This involves not only identifying dependable suppliers but also determining different planning methods for shipping, delivery, and payment of the product.
Companies need to select suppliers to deliver the items and services they require to develop their product. So, in this stage, the supply chain managers need to construct a set of pricing, delivery and payment processes with suppliers and also create the metrics for controlling and improving the relationships.
Finally, the supply chain managers can combine all these processes for handling their goods and services inventory. This handling comprises receiving and examining shipments, transferring them to the manufacturing facilities and authorizing supplier payments.
1.4.3) Make
The third step in the supply chain management process is the manufacturing or making of products that were demanded by the customer. In this stage, the products are designed, produced, tested, packaged, and synchronized for delivery.
Here, the task of the supply chain manager is to schedule all the activities required for manufacturing, testing, packaging and preparation for delivery. This stage is considered as the most metric-intensive unit of the supply chain, where firms can e gauge the quality levels, production output and worker productivity.
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Because the core team has announced that pi network will not be doing any pre-sale. The only way exchanges like huobi, bitmart and hotbit can get pi is by buying from miners.
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Yes. You can sell your pi network coins in South Korea or any other country, by finding a verified pi merchant
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Since pi network is not launched yet on any exchange, the only way you can sell pi coins is by selling to a verified pi merchant, and this is because pi network is not launched yet on any exchange and no pre-sale or ico offerings Is done on pi.
Since there is no pre-sale, the only way exchanges can get pi is by buying from miners. So a pi merchant facilitates these transactions by acting as a bridge for both transactions.
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Once they are available, users will be able to exchange other cryptocurrencies for Pi coins on designated exchanges.
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Here is the telegram contact of my personal pi vendor
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This is because pi network is not doing any pre-sale. The only way exchanges can get pi is by buying from miners and pi merchants stands in between the miners and the exchanges.
How can I sell my pi coins?
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Tele-gram.
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So if you are interested in selling your pi network coins at a high rate tho. Or you can't wait till the mainnet launch in 2026. You can easily trade your pi coins with a merchant.
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how can I sell/buy bulk pi coins securely
Even tho Pi network is not listed on any exchange yet.
Buying/Selling or investing in pi network coins is highly possible through the help of vendors. You can buy from vendors[ buy directly from the pi network miners and resell it]. I will leave the telegram contact of my personal vendor.
@Pi_vendor_247
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Economic fraud
- 1. Economic Fraud By : Amkyss Ayoub
- 2. Outline : ● What is a Fraud ? ● What are the main types of fraud ? ● Famous fraudsters and scandals .
- 3. What is a fraud ? ● A fraud is sort of Act of deception, it is an intentional concealment, omission, or perversion of truth, to gain unlawful or unfair advantage, induce another to part with some valuable item ,or to surrender a legal right. Read more: http://www.businessdictionary.com/definition/fraud.html
- 4. What is a fraud ? (2) ● any intentional act or omission designed to deceive others, resulting in the victim suffering a loss or the perpetrator achieving a gain, usually , monetary . ● a deception deliberately practiced in order to secure unfair or unlawful gain ● an intended cheating to gain an illegal advantage
- 5. 2) What are the main types of fraud ? There are 3 main common types of fraud : ● Financial statement fraud ● Corruption ● Assest misappropriation
- 6. 1)Financial statement fraud ● Financial statement fraud is deliberate misrepresentation, misstatement or omission of financial statement data for the purpose of misleading the reader and creating a false impression of an organization's financial strength .
- 7. 2)Corruption ● corruption refers to schemes in which fraudsters use their influence in business transactions in a way that violates their duty to their employers in order to obtain a benefit for themselves or someone else .
- 8. 3) Assest misappropriation ● assest misappropriation schemes are frauds in which the perpetrator steals or misuses an organization's ressources.
- 9. Famous fraudsters Charles Ponzi (1882- 1949) ● Italien swindler ● Known for Ponzi Scheme ● Cost his investors to lose $20 million
- 10. Famous fraudsters (2) Jérôme Kerviel (1977- ) ● French trader and consultant ● Known for Rogue Trading ● He was charged of abusing of confidence and illegal access to computers ● He cost his company to lose $4.5 billion
- 11. Famous fraudsters (3) Bernard Madoff (1938- ) ● American fraudster , former brock stocker, investment advisor amd financier ● Known for Ponzi scheme ● He cost losses about $64.8 billion
- 12. Famous scandals
- 15. Thank you for your consideration and time