Posts Tagged: DoJ

Are they the Bitcoin Bonnie and Clyde?

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According to the New York Times, Ilya Lichtenstein and Heather Morgan were charged with conspiracy to launder billions of dollars worth of Bitcoin.Credit. Questions: What was the Bitfinex hacking? What was the role of the complex shuffling of Bitcoin by the couple in the fraud in January 2017?   When the government executed a search… Read more »

Scamdemic

Posted by & filed under Accounting Information Systems, Accounting Principles, Advanced Accounting, All Articles, Auditing, Behavioral and Social Issues Related to Accounting, Cost Accounting, Ethical Dilemma, Financial Accounting, Fraud Accounting, Income Taxes, Intermediate Accounting, Managerial Accounting, Uncategorized.

According to the Department of Justice, three family members were arrested in New York for misrepresenting employee payroll figures to receive COVID-19 loan funds for a chain of family-owned nail salons. Questions: According to the report, how was the payroll misrepresented by this family? What federal organizations were involve in the identification of these fraudsters?… Read more »

SEC Commissioner Entangled in Friday Night Controversy

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Corporate lawyer, Jay Clayton, named to the Securities and Exchange Commission (SEC) was near to landing his dream job when he became embroiled in a huge political fight where Geoffrey S. Berman, the current United States attorney for the Southern District of New York was fired.   Questions: What was the controversy explained in the… Read more »

Mylan Settles with the Government

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According to the New York Times, Mylan, the maker of the allergy treatment EpiPen, said Friday that it had reached a $465 million settlement with the Justice Department and other government agencies over questions on whether the company had overcharged Medicaid for the treatment by improperly classifying it as a generic drug. Questions: 1. What… Read more »

Deutsche Bank Shares Drop

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Deutsche Bank’s shares hit a record low, but Germany’s largest lender said there is no reason to get the German government’s help in settling claims of $14 billion with the U.S. Justice Department (DoJ). Questions: 1. What is the record low price of shares of Deutsche Bank? 2. What is a summary of the lender’s… Read more »