Sears Sues

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According to CNN, the remains of defunct Sears Holdings is suing Eddie Lampert, the man who was its previous CEO and primary shareholder, alleging he improperly stripped the company of assets as it hurdled toward bankruptcy. Questions: In addition to Eddie Lampert, who else is named in the suit for the theft of Sears’ assets?… Read more »

Cars To Go

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According to Buzz Feed News, police are questioning more than a dozen people over the theft of 100 expensive automobiles in Chicago after a car sharing company reported that some of its fleet was stolen using its mobile app, forcing it to temporarily shut down the service in the city. Questions: What are most of… Read more »

Pay for Play

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Yale University has rescinded the admission of a student that officials at the school say was involved in a nationwide college entrance fraud that ensnared 50 people, including Hollywood actresses and CEOs, some of whom have already appeared in court. Questions: To make this scam work, who was “on the take” inside Yale? Who was… Read more »

Resignation of another CEO

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Herbalife’s chief executive has resigned over unspecified comments he made before taking leadership of the Los Angeles supplement maker. Questions: 1. What did his previous remarks relate to? 2. Who is CEO Goudis’ replacement and what is the replacement’s background? 3. Why has Herbalife been in the news since 2015? Source: Pazzanghera, J. (2019). Herbalife… Read more »

Chinese giant Huawei, the world’s largest telecommunications equipment maker’s fraud exposed and charged by the U.S. Justice Department

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According to the ACFCS News, federal prosecutors have charged a Chinese company, the world’s largest telecommunications equipment maker, a top official and two affiliates with fraud, money laundering, pilfering trade secrets, obstruction of justice and sanctions violations for hiding its dealings with Iran from partner banks. Questions: 1. How did these hidden dealings come to… Read more »

Lying and CEOs – New Analytics

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According to Business Insider, a software company called Amenity Analytics (AA) reviews earnings call transcripts, press releases, company research and more to try and help hedge funds spend less time looking for important nuggets of information and more time trading. Now they have turned their attention toward truth-telling by CEOs. Questions: 1. What type of… Read more »

Fraudsters Never Sleep

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While retailers want shoppers to pick up online orders in stores in order to save on shipping costs, Buzz Feed notes that this new method has led to an increase in fraudsters trying to steal orders. Questions: 1. How many more shoppers chose to buy purchases online and pick them up in stores during the… Read more »

No Severance Package – Board decision

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CBS’s board of directors on Monday said they will not give former CEO Les Moonves any of the $150 million severance package he was due under to his employment contract, a decision that follows a months-long sexual misconduct probe. Questions: 1. What was Les Moonves role at CBS? 2. What were the grounds for his… Read more »

Bad News for Nissan

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According to the New York Times, the Nissan chairman, Carlos Ghosn, was arrested on Monday after an internal company investigation found that he had underreported his compensation to the Japanese financial authorities for several years. 1. After Mr. Ghosn was sent to Nissan’s Japan headquarters, what was he credited with as a result of making… Read more »

Now you See it, Now you don’t.

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The Federal Trade Commission has issued a warning to consumers that criminals are posing as government officials and asking people to use a gift card to pay a bogus tax bill or get a new Medicare card. Questions: 1. How much money was lost to this scam in 2015? 2. How much money was lost… Read more »