Academic literature on the topic 'Bankruptcy frauds'
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Journal articles on the topic "Bankruptcy frauds"
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Dimitrijević, Dragomir, and Dejan Jovanović. "Economic Motives and Willingness of Young People to Participate in Fraud." Naše gospodarstvo/Our economy 68, no. 3 (September 1, 2022): 18–27. http://dx.doi.org/10.2478/ngoe-2022-0015.
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Abstract Fraud is linked to economic and financial pressures that force people to commit it. Any fraud, regardless of the gender and age of the fraud perpetrators, inevitably leaves a short-term or long-term negative mark on society’s economy. Many financial frauds in the past (Enron, WorldCom, Parmalat) have left profound negative consequences on global financial markets. Such “financial strikes” on the financial markets led to financial losses of many companies (not only those in which frauds were committed), the dismissal of many workers, and even the bankruptcy of companies. Successful detection and prevention of fraud imply the harmonious and efficient operation of several factors. One of them understands people’s attitudes towards fraud. It is necessary to understand what motivates an individual to commit fraud and the conditions under which someone would commit fraud. Plenty of resources and time have been invested in understanding the motives for adult fraud, i.e., mature people. Experience has shown that it is much more challenging to educate people of that era about the harmful effects of fraud and thus convince them not to commit fraud. For these reasons, the subject of this paper is the consideration of the attitudes of the younger population towards fraud in Serbia. More precisely, the paper discusses the attitudes of young people aged 18 to 30 regarding motives, pressures, and opportunities to commit fraud, participate in corruption, or offer bribes. The main objective is to indicate the tendency of young people to participate in fraud and examine whether respondents’ gender influences their willingness to participate in fraud. The research results suggest that, according to young people, the main motive why someone would participate in fraud is financial gain and that young people would participate in fraud only if they could get medical intervention sooner. They also believe that fraud is most prevalent in public administration and that men are more prone to fraud than women, but that the influence of gender is very small.
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Eutsler, Jared, Erin Burrell Nickell, and Sean W. G. Robb. "Fraud Risk Awareness and the Likelihood of Audit Enforcement Action." Accounting Horizons 30, no. 3 (May 1, 2016): 379–92. http://dx.doi.org/10.2308/acch-51490.
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SYNOPSIS Prior research indicates that issuing a going concern opinion to financially stressed clients generally reduces the risk of litigation against the auditor following a bankruptcy (Kaplan and Williams 2013; Carcello and Palmrose 1994). However, we propose that a going concern report may indicate prior knowledge of financial distress, an important fraud risk factor, and this may have repercussions for the auditor if a fraud is subsequently uncovered. Consistent with counterfactual reasoning theory, experimental research suggests that a documented awareness of fraud risk actually increases the likelihood of litigation against the auditor following a fraud (Reffett 2010). This concern has been echoed by the professional community (AICPA 2004; Golden, Skalak, and Clayton 2006) and may be exacerbated by the current outcome-based regulatory environment (Peecher, Solomon, and Trotman 2013). To examine this issue we review Auditing and Accounting Enforcement Releases (AAERs) issued by the Securities and Exchange Commission (SEC) for alleged financial reporting frauds between 1995 and 2012. Results suggest that going concern report modifications accompanying the last set of fraudulently stated financials are associated with a greater likelihood of enforcement action against the auditor. This finding is consistent with counterfactual reasoning theory and suggests that, from a regulatory perspective, auditors may be penalized for documenting their awareness of fraud risk when financial statements are later determined to be fraudulent.
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Tandon, Deepak, and Neelam Tandon. "Ballooning Non-Performing Assets in Indian Banking and Insolvency and Bankruptcy Code." International Journal of Political Activism and Engagement 6, no. 1 (January 2019): 1–24. http://dx.doi.org/10.4018/ijpae.2019010101.
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The Indian Banking sector is witnessing a phenomenal deterioration of asset quality, raising potential losses for not making enough provisions or setting aside capital to combat the non-performing assets. The aftermath of this is that the sustainability of robust banking is becoming a big question. Over the period of time, NPAs and bad loans have adding to a spiralling manner in Indian Banks. In this data-driven banking, various frauds have occurred due to lapses in operational risk, and non-adherence to procedures. Despite the treatment of stressed assets, prompt corrective action as per asset quality report by regulators but results are appearing at a very slow pace. Strength and sustainability of the credit growth is the need for robust banking in the times to come.
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Khan, Mansoor. "International Anti-Money Laundering Measures and Professional." International Journal of Business and Management Research 9, no. 3 (September 10, 2021): 307–19. http://dx.doi.org/10.37391/ijbmr.090309.
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Money laundering is one of the biggest and the fastest growing problems in the contemporary world. It is seen that in legitimate economy most of the dirty money i.e. 38.6% comes from the investment fraudulent schemes, bankruptcy fraud and corporate frauds whereas, 27.5% comes from drug trafficking. This rising trend of money laundering and other financial frauds are due to several reasons, which include the activities in businesses that do not comply with professional ethics. The current research is a qualitative research that has used secondary data to derive the results. Because the study followed a deductive approach, the results of the study have been derived by utilising the existing theories and established data from published literature and different reports. The analysis of the obtained data has been conducted in the form of content analysis to attain the objectives of the current study. The findings of the study suggest that the international organisations have taken several steps to ensure the reduction of money laundering by imposing several unified acts based on the Vienna Convention and the Palermo Convention. It has also been found that ethically compliant professional activities also play an integral part against money laundering. Some of these activities have been reported as forming strong codes of conduct for monetary operations, informing the bad repercussions of participating in money laundering activities, and having proper control and management strategies in position that can have adequate monitoring on institutional improper conduct. The study recommends that every state should have regulated and monitored free trade zones as they are often used as the cornerstone of money laundering. Moreover, a centralised reporting system of the financial institutions have also been recommended, alongside the establishment of a regulatory body for the lawyers and accountants.
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Ilter, Cenap. "Group of companies and inter-company fraud: a case from Turkey." Journal of Financial Crime 23, no. 2 (May 3, 2016): 427–40. http://dx.doi.org/10.1108/jfc-12-2014-0064.
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Purpose This paper aims to present a real case of inter-company fraud where the Group’s Bank lent money to a Group company and was never repaid. The company generates its own cash, but instead of repaying its debt to the Bank, it funds other Group companies. Considering the Bank as being a public depository institution and its illiquid situation, the case presents a fraud within the Group. In this regard, the paper is considered to be an exemplary case for the accounting literature. Design/methodology/approach The paper analyses one of the Group Company’s audit reports for the years 2003 and 2004 and explains the type of frauds committed by the Company’s management. The study approximates the total US dollar figures that were inappropriately transferred to the other Group’s companies in 2003. Findings The study examines the real case and discusses the reasons that led to the Group’s bankruptcy. Lack of governmental controls may lead to bankruptcy of banks that have been abused by its owners by transferring loans to other group companies exceeding the legal limits observable by the banks. Practical implications Auditors, accountants and accounting lecturers, as well as professors, talk about fraudulent accounting practices. The study explains a specific accounting fraud case in a group of companies. It explores the type of inter-company money transfers without a valid base. The author is of the opinion that readers with an accounting background will benefit from reading the case. Social implications Economics is the study of allocation of scarce resources to the best use. Public’s savings must be directed to the companies that produce the value added to the society. On the other hand fraudulent money transfers within the group companies involving bank(s) may distort this allocation. Public money-deposits might be wasted by dishonest business owners. The study is aimed to disseminate this information to public in general. Originality/value The case study has been built on a real audit report from Turkey. The names and the locations of the companies have been changed, and the figures have been approximated in US dollar terms. The events and findings on the audit reports have not been changed, and each fraudulent event has been individually discussed.
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Tanti Wulandari, Andrianto, and Ma’ruf Syaban. "Praktik Fraud Dalam Kasus Kepailitan Perusahaan." Majalah Ekonomi 26, no. 2 (December 21, 2021): 82–96. http://dx.doi.org/10.36456/majeko.vol27.no2.a4741.
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This research aims to knowing Fraud Practices that occur in the Bankruptcy process in a company such as well as fraud in the implementation of the process of recording financial statements, effectiveness Internal control, strengthening the code of ethics and triggering the attitude of the Company's leaders. This research approach uses descriptive qualitative research methods and uses Inductive data analysis. Through triangulation techniques, researchers conduct data mining regarding fraud that occurred before the company was declared bankrupt by using data collection techniques with interviews with companies and curators who help deal with this case and then observe the object of research on the data related to fraud. The results of the study show that the practice of fraud often occurs in companies experiencing bankruptcy, in this case in several Processes settlement of bankruptcy, the company has the potential for fraud to occur in it, including Fraud in the Company's financial process, one of which is the Board of Directors combining finance personally with the Company's finances, in addition at the time of the bankruptcy determination tracing only based on the facts of assets alone does not consider the existence of financial statements owned by the company in previous periods. Conditions for Fraud This causes the company to go bankrupt.
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Fauzia, Ika Yunia. "MENDETEKSI KEBANGKRUTAN SECARA DINI PERSPEKTIF EKONOMI ISLAM." EKUITAS (Jurnal Ekonomi dan Keuangan) 19, no. 1 (February 2, 2017): 90. http://dx.doi.org/10.24034/j25485024.y2015.v19.i1.1758.
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Early bankruptcy detection can be carried out well when an entrepreneur implements integrity and competence in managerial systems, accounting reporting systems, capital structure usage system and business security system from fraud. Related to bankruptcy, Islamic economics recognized iflas (bankruptcy) and muflis (bankrupt entity). A law subject to a muflis is known as al-Hajr. This is a qualitative research with linear snowball method used as data collection technique. 10 of entrepreneurs who went bankrupt were interviewed. The interview rolled like a snowball for one by one informant was interviewed persuasively to gain important information on their causes of bankruptcy. Results of this study explained that the majority of the bankruptcy was caused by the use of capital structure that did not conform qualifications, followed by the lack of proper accounting reporting, poor management systems, lack of professionalism and fraudulence from internal and external aspects.
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Aprillia, Frida, Iwan Supriyanto, Miranti Handayani, Susie Sugiarti, Dorit Hartini, and Arman Syah Putra. "The Relationship Between Internal Control And Compensation Appropriateness For Accounting Fraudulent Actions In Retail Companies." International Journal of Educational Research & Social Sciences 3, no. 3 (June 25, 2022): 1220–30. http://dx.doi.org/10.51601/ijersc.v3i3.379.
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The background of this research is how to find accounting fraud in a retail company, which consists of internal control variables and compensation suitability. Therefore, with accounting fraud, it can be prevented from an early age so that retail companies can continue to move forward in the future. The method used in this study is to use the literature review method and use quantitative methods by conducting a survey to 22 retail companies in order to find out frauds that exist in retail companies. The problem in this research is how to find out accounting fraud in a retail company that raises variables from internal control and compensation suitability with the two variables, it will be known what fraudulent actions occurred in retail companies so that retail companies can progress and develop so that they do not the loss is getting worse. The purpose of this study is how to find out accounting frauds in a retail company, because the fraud can make a retail company close and go bankrupt. Therefore, with preventive measures, it can be seen what things can prevent the company from cheating.
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Irawan, Justin Axel, and Weli Weli. "FRAUD PENTAGON AND POTENTIAL BANKRUPTCY AT PROPERTY & REAL ESTATE COMPANY." AJAR 5, no. 02 (August 27, 2022): 145–69. http://dx.doi.org/10.35129/ajar.v5i02.341.
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The purpose of this study is to analyze the effect of indicators on pentagon fraud on potential bankruptcy in property & real estate companies for the 2018 - 2020 reporting year. Pentagon fraud consists of indicators of pressure, rationalization, capability, arrogance, and opportunity while potential bankruptcy uses the Zmijewski model. Data was collected using content analysis methods from financial reports and annual reports obtained from the official website of the Indonesia Stock Exchange (IDX) and the company's official website. The method of data analysis was carried out using regression analysis with the help of SPSS software. The results of the analysis of 129 company report data show that only one indicator of the fraud pentagon has an effect on the potential for bankruptcy, namely pressure. There is no empirical support for other indicators, namely Rationalization, Capability, Arrogance and Opportunity for potential bankruptcy. This study provides a theoretical contribution to the study of the fraud pentagon and the potential for bankruptcy. A better understanding of indicators of fraud enables companies to prevent potential bankruptcy.
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Reddic, Willie, Sandra W. Shelton, and Georgi K. Shmagel. "A Repeat Offender of Corruption: South MunaiGas Case Study." Journal of Forensic Accounting Research 2, no. 1 (October 1, 2017): A91—A107. http://dx.doi.org/10.2308/jfar-51930.
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ABSTRACT Fraud is a serious and growing international problem, and can greatly affect a company's performance. The current case highlights the impact that culture can have on corporate corruption through the culture of a specific organization, as well as through the broader culture of a society. In this case, Russian NorthOilService (NOS) acquired 98 percent of the shares of the near-bankrupt Kazakh drilling company, South MunaiGas (SMG) in 2007. NOS management realized that SMG's weak financial standing was caused by corporate fraud and corruption, among other factors. Unfortunately, NOS was unable to prevent the new management team of SMG from committing fraud, despite NOS's anti-fraud efforts after acquisition. This actual case study focuses on the accounting and other frauds perpetrated by the SMG management team and the anticorruption measures implemented by NOS. It addresses fraud, bribery, corruption, and misappropriation of assets through inappropriate procurement procedures, in a cultural environment differing substantially from U.S. corporate contexts. This case is suitable for use in auditing, corporate governance, and fraud examination courses.
Dissertations / Theses on the topic "Bankruptcy frauds"
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CELANI, GIOVANNI. "CRISI D'IMPRESA E RESPONSABILITA' PENALI: LE FATTISPECIE DI BANCAROTTA TRA METAMORFOSI E CONTINUITA'." Doctoral thesis, Università Cattolica del Sacro Cuore, 2022. http://hdl.handle.net/10280/123244.
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Il presente lavoro di ricerca, traendo spunto dalle recenti riforme che hanno investito il diritto delle procedure concorsuali – dal progetto del nuovo Codice della crisi d’impresa e dell’insolvenza, sino ai provvedimenti legislativi emanati nel contesto emergenziale – intende rinnovare la riflessione attorno alle note criticità applicative degli illeciti penal-fallimentari derivanti dal loro deficit di tipicità-offensività. Dopo aver delimitato il campo d’indagine nel suo riferimento essenziale – ma non esclusivo – alla figura paradigmatica della bancarotta fraudolenta per distrazione, anche nella variante c.d. “concordataria” ex art. 236, comma secondo l.fall., la prima parte dell’analisi si concentra sulla ricostruzione del dibattito dottrinale maturato attorno all’oggettività giuridica dei reati di bancarotta e sull’esegesi delle più significative e recenti pronunce della giurisprudenza di legittimità che hanno scandito l’evoluzione ermeneutica sulla struttura offensiva di tali fattispecie. Nella seconda parte della ricerca, l’attenzione si sofferma sullo studio delle modifiche ‘dirette’ e ‘mediate’, nonché dei possibili risvolti ‘sistematici’ che il nuovo Codice è potenzialmente in grado di dispiegare sul comparto penalistico della materia, volgendo infine uno sguardo, in chiave critica, alle prospettive future della bancarotta, anche alla luce della nomina di una commissione ministeriale per la riforma dei reati fallimentari ad opera dell’attuale Ministro della Giustizia.This research, taking its cue from the recent reforms that have affected the law of insolvency procedures - from the new Business Crisis and Insolvency Code (not yet fully in force), up to the legislative measures issued during the pandemic – sets out to review the known criticalities relating to bankruptcy frauds deriving from the drafting of their provisions. The first part defines the object of this research, namely the paradigmatic figure of bankruptcy fraud "per distrazione", it, then, goes on to consider also this offence as a result of the composition with creditors pursuant to art. 236, second paragraph of the "legge fallimentare". Thereafter, it focuses on the doctrinal debate relating to the interest protected by bankruptcy frauds and on the most significant and recent Supreme Court decisions regarding these offences. The second part of the research is focused on how the said Code changes not only the criminal law provisions but also the interpretations thereof. In conclusion, a critical look at the future prospects of bankruptcy frauds, in light of the appointment of a ministerial commission for the reform of these crimes by the current Minister of Justice.
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Haynes, Allyn H. "Detecting Fraud in Bankrupt Municipalities Using Benford's Law." Scholarship @ Claremont, 2012. http://scholarship.claremont.edu/scripps_theses/42.
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This thesis explores if fraud or mismanagement in municipal governments can be diagnosed or detected in advance of their bankruptcies by financial statement analysis using Benford’s Law. Benford’s Law essentially states that the distribution of first digits from real world observations would not be uniform, but instead follow a trend where numbers with lower first digits (1, 2…) occur more frequently than those with higher first digits (…8,9). If a data set does not follow Benford’s distribution, it is likely that the data has been manipulated. This widespread phenomenon has been used as a tool to detect anomalies in data sets. The annual financial statements of Jefferson County, Vallejo City, and Orange County were analyzed. All the data sets showed overall nonconformity to Benford’s Law and therefore indicated that there was the possibility of fraud occurring. I find that Benford’s Law, had it been applied in real time to those financial statements, would have been able to detect that something was amiss. That would have been very useful because each of those jurisdictions subsequently went bankrupt. This paper demonstrates that Benford’s Law may in some cases be useful as an early indicator to detect the possibility of fraud in municipal governments’ financial data.
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Furiati, Bruno Pierin. "O conceito de true sale no direito brasileiro." Pontifícia Universidade Católica de São Paulo, 2009. https://tede2.pucsp.br/handle/handle/8853.
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Previous issue date: 2009-11-27This work discusses the securitization s basic foundation, which is the effective and irrevocable transference of credits by the assignee to the assignor - the true sale. Nevertheless, to understand the its correct meaning, it is necessary to analyze each and every aspect of the components of the transaction, including the assignment. The result of the consideration of the North American law s concepts will create the way for the definition in the scope of the Brazilian law. Indeed, this is why aspects of Brazilian law will be laying side by side with the North-American doctrine. In addition, to be able to reach the assignment s analysis on a bankruptcy event, it is necessary to go over the aspects of the contracts law, which will be discussed on the second section. It is not only a Brazilian law review, but also a study with a background on the European legal system. This will be necessary to accomplish a concrete solution for this work. Finally, the last section will go through the commercial law s aspects, a the same time connecting it with some subjects of the contract law theory. The bankruptcy and the issues attached to it shall be formally addressed in a systemic way, so it would be able to answer the questions that arouse from the true sale
O presente trabalho trata da fundamentação básica para a securitização, qual seja, a transferência efetiva e irrevogável dos créditos do cedente para o cessionário. A chamada true sale. Todavia, para uma correta interpretação doutrinária de seu sentido, faz-se necessário analisar todos os componentes da operação, inclusive a própria cessão. A partir dos conceitos do direito norte-americano, constituem-se os caminhos para a definição no âmbito do direito brasileiro. Em razão disso é que na primeira parte deste trabalho os aspectos do direito nacional estão alocados lado a lado aos do direito norte-americano. Adicionalmente, para que se possa chegar à aplicação da falência na cessão se faz necessário transcorrer pelos aspectos do direito civil, na segunda parte. Não é apenas uma visão brasileira, busca-se também sua fundamentação no direito europeu, procurando-se chegar a determinações concretas. Ao final, ingressa-se no campo do direito empresarial. Não sem pincelar alguns pontos de direito civil. A falência e os conceitos a ela atrelados são postos de forma sistemática, a fim de que se possa problematizar com rigor a questão da true sale
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Bouhani, Mohamed. "Le fournisseur de crédit au soutien des entreprises en difficulté." Thesis, Aix-Marseille, 2013. http://www.theses.fr/2013AIXM1040.
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Le financement constitue le nerf de l’activité de l’entreprise et de son développement. Dès lors, le fournisseur de concours est le partenaire privilégié à qui incombe la difficile mission de financer les entreprises, particulièrement lorsque s’ouvre une procédure. L’octroi de crédit est ainsi au cœur du droit des entreprises en difficulté. De fait, le débiteur « failli » va manquer à ses engagements et perturber l’ordre juridique. Apparaît alors le facteur risque dans l’octroi de crédit aux entreprises en difficulté. Ce risque se traduit, pour le banquier, par l’incertitude de recouvrement de sa créance ou par les vicissitudes du contrat bancaire dont la continuation ou la cession peut lui être imposée. Cependant, le risque ne doit pas justifier le refus du banquier d’accorder du crédit au débiteur défaillant. Le droit se doit d’intégrer la prise de risque dans la fourniture de crédit. Dans ce contexte, le fournisseur de concours ne se présente pas comme un créancier comme les autres. Il y a alors inégalité des créanciers en fonction de leur influence dans le sauvetage du débiteur. C’est cette hypothèse qui nous a servi de fil conducteur. La recevabilité de l’action est neutralisée et devient une technique au service d’une finalité : la sauvegarde de l’entreprise. A cet égard, le fournisseur de concours dispose d’un traitement protecteur d’une part, et demeure exposé aux règles de la procédure d’autre part. Le pendant de la protection est par conséquent son incontournable exposition par le maintien de sa responsabilitéFinancing is the nerve of the firm’s activity and its development. From then on, the financial assistance provider is the privileged partner who has the difficult mission of financing firm’s activities, particularly when a bankruptcy procedure is opened. So, crediting is the heart of bankruptcy law. De facto, the insolvent debtor will miss in his commitments and will disrupt the legal order. So appears the financial assistance provided to ailing firm’s risk. This risk is translated, for the banker, by the uncertainty of recovering of its debt or by the vicissitude of the banking contract which continuation or transfer can be imposed. However, the risk does not have to justify the banker to refuse granting credit to the failing debtor. Legal system has to consider risk-taking into the supply of credit. In this context, the financial assistance provider does not appear as other creditors. Then there is disparity of creditors according to their influence in the rescue of the debtor. It is this hypothesis that led our work. The admissibility of the action is neutralized and becomes a technique in the service of a purpose: the saving of the firm. In this respect, the financial assistance provider has a best treatment, on one hand, and he still being exposed to bankruptcy rules, on the other hand. The result of this best treatment is consequently he’s main exposure to the implementation of its liability
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Chen, Mei-hua, and 陳玫樺. "The Infringement of Creditor's Rights and Bankruptcy Fraud." Thesis, 2011. http://ndltd.ncl.edu.tw/handle/38333550678132285276.
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碩士東吳大學
法律學系
99
Economic prosperity is the double edged sword. What comes with the light also brings in the darkness. Whilst a thriving economy supports civilization and financial advancement what evidently followed are the rapid gains in national treasury and GDP growths. Unfortunately, these economic advancements often lack the necessary changes in societal norm and moral progression for guiding what constitute a continual positive development. Corporation and Individual alike are the members of the society in which rightful way both shall enjoy legal protections upon their rights. In the same way comes with these rights are obligations to submit to the governance of their country’s administrative system. However, under the seemingly perfect web of governing schemes disguises policy loopholes ready for the intended opportunists to plunder for their illegal loots in property gains and rights. Unfortunately, many unlawful conducts and financial frauds are unexposed under the sun like the wastes accumulated in the under tunnels of the city sewage system if left untended it will inevitably endangers the integrity of the country’s financial system as a whole. It will also undoubtedly deliver a blow to the effectiveness of judicial deterrence and the enforcement of the law. As often seen on the news, frauds like corporate money laundry, impropriator sales of assets and shell company infringe upon investor’s and debtor’s lawful rights while create loopholes that damage the stabilities of financial and credit transactions. It is utterly important to strengthen every individual’s awareness to financial crime and fraudulent debt so that appropriate preventive measures to promote and facilitate early identification of fraudulent activities are emplaced. These measures should aim to initiate prompt detection of these illegal activities before extensive damages and further losses occurred while at the same time strengthen the social morality in every level. The institution of the judicial system in all levels should collaborate with the public by adapting a trusting relationship in fighting against these fraudulent crimes. Under such consideration, the author discussed in chapter 1the motive for research and its purpose, whereas in chapter 2, the definitions and categorizations of financial crimes with their constituting factors and characteristics analyzed and discussed. In addition elaborately analyzed cases of serious legal entity and corporate crimes are included in this chapter as well. Chapter 3 discussed the guidelines from criminal law perspectives for debt and fraud. In addition, it also provides analysis of existing verdicts from national judicial court systems. Chapter 4 focused on crimes of bankruptcy, and the comparison of existing bankruptcy law guidelines and their applicability while considering other countries’ policies, and relevant policy changes and progressions to pinpoint the problems that are faced by national bankruptcy law. Chapter 5 provides in depth review of the issues discussed priorly. Everyone, who includes individual, corporation, legal entity, and governmental institute, could very possibly be the next potential victim. Many victims are even well educated professionals such as corporate representative or government official cascading down the chain of power, the resulting damages could be substantial. Therefore, for the recommendations, issues such as how the legal constituting factors should be amended, how early practical operations on protecting debt rights, providing victims relevant litigation guidance and assistance are thoroughly discussed. Within the content of this chapter, separate attempts were raised for schematic and practical guidelines and recommendations for financial crimes and the criminal acts of fraudulent infringement of debts.
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Chen, Shien-Ju, and 陳憲儒. "The Study of Debtors'' Bankruptcy Fraud-From The Viewpoint of Comparative Jurisprudence." Thesis, 2009. http://ndltd.ncl.edu.tw/handle/z3ffas.
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碩士國立中央大學
產業經濟研究所
97
“Bankruptcy fraud” means behaviors made by a debtor that was against the bankruptcy law and breach creditors’ right. Such behaviors erode the basic spirit, distribute equally and fairly, of bankruptcy system, that’s why most country establish their own anti-bankruptcy fraud law in order to defeat such ill-faith debtors. In this thesis, I put my focus on the “individual debtor”, and restrict my research scope in the United State Bankruptcy Code and Criminal Code, and compare these codes with the Bankruptcy Code of Republic of China. The aim of this thesis is to find out the most effective way to decrease or diminish bankruptcy frauds, hoping to make some contributions to my country’s bankruptcy law system.
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Simo, Achille Youbi. "Corporate governance: the case of Banco Espírito Santo." Master's thesis, 2017. http://hdl.handle.net/10071/16265.
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This is a comprehensive case study of the collapse of BES that failed in 2014 and prompted
the government to draft and implement a resolution plan for BES in which they created NOVO
Banco, a bridge bank to transfer all the healthy operations of the bank and left the toxic assets
in BES to be liquidated.
BES collapsed after 145 years of existence after it founded by Jose Maria do Espírito Santo e
Silva, who started in Lisbon in 1869 as a moneychanger. This study aims to study the causes
of the collapse of BES and discuss the corporate governance mechanism that has gone wrong.
This study also examines the evidence of clan culture in BES which is probably one of the core
strength of the BES and the ES family that helped the bank to survive 145 years, both world
wars, dictatorship regimes and nationalisation.
The case of BES gives the opportunity to understand that corporate governance rules and
recommendations are just as relevant in family businesses as they are in other businesses.
Our study found that the desire to diversify the operations of the ES family by investing into
many business sectors through its non-financial companies, combined with the economic
recession put significant pressure on Ricardo Salgado, who with his status in the family and
his power on the board of directors of BES used fraudulent financial reporting and related
parties transactions to hide the bank’s toxic assets made mainly of debt instruments of its
holding parent.
We also found the clan culture in BES gave significant decision powers to Ricardo Salgado.
At one point, he was CEO of BES and chairman of the group, which was likely to have
intimidated directors on the board of BES.
Our main finding on this study is that the collapse of BES could have been avoided if the
corporate governance in BES emphasised on accountability and integrity of financial reporting.
Books on the topic "Bankruptcy frauds"
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Assembly, Canada Legislature Legislative. Bill: An act to prevent frauds, bribery and corrupt practices at elections. Quebec: Thompson, 2002.
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Corporation, SMR Research, ed. Bankruptcy fraud, bankruptcy costs: One day in the U.S. bankruptcy courts. Hackettstown, NJ (300 Valentine St., Hackettstown 07840): SMR Research, 2003.
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Robert, Whittington, ed. Bankrupt: BCCI fraud. London: Victor Gollancz, 1991.
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Kochan, Nick. Bankrupt: The BCCI fraud. London: Gollancz, 1991.
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American Bar Association. Business Bankruptcy Committee. Subcommittee on Bankruptcy Courts., ed. Bankruptcy fraud, can we catch the thief? [Chicago: American Bar Association, 1992.
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United States. Dept. of Justice. Office of the U.S. Trustees., ed. Resource guide: Addressing fraud and abuse in bankruptcy. [Washington, DC?]: U.S. Dept. of Justice, Office of the United States Trustees, 2001.
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Baptiste, Renaud Jean, Quebec Bank, and Holt & Irvine (Firm), eds. Queen's Bench, appeal side: Ex parte Renaud, petr. for confirmation of title, and David Davidson, et al. (intervening parties), appellants, and the Quebec Bank (opposants), respondents : appellants' case : Holt & Irvine for appellants. [Quebec?: s.n., 1986.
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Clancy, Noreen. Identifying fraud, abuse, and error in personal bankruptcy filings. Santa Monica, CA: RAND Corporation, 2007.
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Fraude à execução e fraude contra credores: Interpretada pelos tribunais. São Paulo, SP: EDIPRO, 1994.
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Vítolo, Daniel Roque. Acuerdos preventivos abusivos, o, En fraude a la ley. Buenos Aires: Rubinzal-Culzoni Editores, 2009.
Find full textBook chapters on the topic "Bankruptcy frauds"
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Weisberg, Robert A., Lawrence A. Lichtman, Christopher A. Grosman, and Patrick J. Kukla. "Fraud and the Bankruptcy Code." In The Handbook of Fraud Deterrence, 271–350. Hoboken, NJ, USA: John Wiley & Sons, Inc., 2015. http://dx.doi.org/10.1002/9781119202165.ch17.
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Verma, Sushma, and Samik Shome. "Assessing Airline Bankruptcy in India." In Accounting, Finance, Sustainability, Governance & Fraud: Theory and Application, 149–74. Cham: Springer International Publishing, 2020. http://dx.doi.org/10.1007/978-3-030-60008-2_10.
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Boyner, Merve Dilara, Bernur Açıkgöz, and Burhanettin Onur Kireçtepe. "The Danish State Bankruptcy of 1813." In Accounting, Finance, Sustainability, Governance & Fraud: Theory and Application, 45–56. Singapore: Springer Nature Singapore, 2022. http://dx.doi.org/10.1007/978-981-19-5252-4_4.
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Levi, Mike. "Globalisation, Locale and Bankruptcy Fraud: A Historical Exploration." In Studies of Organized Crime, 37–56. Cham: Springer International Publishing, 2016. http://dx.doi.org/10.1007/978-3-319-31608-6_3.
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"Bankruptcy and Related Frauds." In Essentials of Forensic Accounting, 273–99. New York, NY: American Institute of Certified Public Accountants, Inc., 2017. http://dx.doi.org/10.1002/9781119449423.ch10.
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Eskantar, Marianna, Michalis Doumpos, Evangelos Grigoroudis, and Constantin Zopounidis. "Prediction of Corporate Failures for Small and Medium-Sized Enterprises in Europe." In Machine Learning Applications for Accounting Disclosure and Fraud Detection, 223–35. IGI Global, 2021. http://dx.doi.org/10.4018/978-1-7998-4805-9.ch015.
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The risk of bankruptcy is naturally faced by all corporate organizations, and there are various factors that may lead an organization to bankruptcy, including microeconomic and macroeconomic ones. Many researchers have studied the prediction of business bankruptcy risk in recent decades. However, the research on better tools continues to evolve, utilizing new methodologies from various scientific fields of management science and computer science. This chapter deals with the development of statistical and artificial intelligence methodologies for predicting failures for small and medium-sized enterprises, considering financial and macroeconomic data. Empirical results are presented for a large sample of European firms.
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Kazakova, Natalia, and Anna Sivkova. "Financial Security of Economic Activity." In Global Trends of Modernization in Budgeting and Finance, 110–30. IGI Global, 2019. http://dx.doi.org/10.4018/978-1-5225-7760-7.ch006.
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Under the conditions of megarisks, the general level of the world economy's instability rises, the number of unprofitable organizations with overdue debts increases, thus, creating additional threats to the financial security of states. In this regard, presented here, research results have scientific and applied importance for risk management and financial security of economic entities on the basis of the control and analytical concepts which cover: monitoring, diagnostics, prevention of crisis situations, including bankruptcy, corporate fraud and various other financial irregularities in the economy. Accounting for the specifics of economic entities in the course of analysis, diagnostics, and control over their activities is aimed at the creation of effective corporate fraud prevention and bankruptcy management systems. The conceptual principles of information and analytical support, improved methods for analyzing, and evaluating and monitoring financial security contributes to the development of a common methodology for economic analysis and control activities, ensuring their effectiveness and transparency. The comprehensive toolkit for diagnosing financial security allows identifying the areas of increased bankruptcy risks, fraudulent actions or ineffective business management; and unifies the control process, thereby reducing labor intensity and improving the quality of control measures.
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"4. Fraud, Property, and Respectability." In Bankrupts and Usurers of Imperial Russia, 133–58. Harvard University Press, 2016. http://dx.doi.org/10.4159/9780674972599-005.
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Sami, Ben Jabeur. "Financial Distress and Bankruptcy Costs." In Global Strategies in Banking and Finance, 369–79. IGI Global, 2014. http://dx.doi.org/10.4018/978-1-4666-4635-3.ch024.
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Since the crisis of the 1930s and the early work of writers such as Fitzpatrick (1932), the problem of failure has become a field of investigation and research in its own right. According to Franks and Sussman (2005), a firm is defined as being in distress once the local branch or regional credit manager decides to transfer a status report to the monitoring unit of economic enterprises or responsible financial diagnosis. Such decisions may occur, especially for SMEs, in the case of violations of certain terms (non-payment of interest exceeding the overdraft limit ...) or following a poor assessment of the future of the firm by directors of credit (by reference to indicators such as high debt and low profitability). The objective of this chapter suggests analyzing the processes of the financial distress of companies and their impact.
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Vuic, Jason. "The First-Mortgage Frauds." In The Swamp Peddlers, 115–43. University of North Carolina Press, 2021. http://dx.doi.org/10.5149/northcarolina/9781469663333.003.0006.
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By the mid-1970s, a lack of developable land, stricter environmental regulations, a world recession, and two years of double-digit inflation had made the instalment land sales industry obsolete. Land Giants like Deltona, GDC, ITT, Arvida, Dell Webb, and the Gulf American successor company GAC either went bankrupt or diversified, while a second wave of highly-sophisticated swamp peddlers and land scammers entered the scene. One group didn’t even sell land, but promised elderly investors, who’d been squeezed by inflation, a whopping 12 percent return on so-called “first-mortgage bonds,” backed by installment land sales contracts in fledgling developments in Martin, Volusia, and Citrus Counties. The problem, however, was that the companies issuing the bonds didn’t own the land—they’d mortgaged it—so the 12 percent bonds they’d been selling people were moot. In fact, the entire racket was a carefully designed pyramid scheme, planned and perpetrated by a complex web of loosely-affiliated land companies and brokerages with offshore accounts and mob connections in Arizona and Florida that Fort Myers News-Press journalist Richard Dennis would claim had perpetrated one of the largest land frauds in American history.
Conference papers on the topic "Bankruptcy frauds"
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Liodorova, Julija, and Irina Voronova. "Z-score and P-score for bankruptcy fraud detection: a case of the construction sector in Latvia." In Contemporary Issues in Business, Management and Economics Engineering. Vilnius Gediminas Technical University, 2019. http://dx.doi.org/10.3846/cibmee.2019.029.
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To protect investment and ensure repayment of payables, recent studies have focused on identifying the relationships between company bankruptcy and internal fraud. The P-score model that is based on the most popular Altman Z-score model has been developed to indicate the manipulation of financial statements. Purpose of the study is to determinate the accuracy and the feasibility of P-score and Z-score models to detect fraudulent bankruptcy in regional conditions, based on reports of the Latvian construction companies that failed due to fraud, and during the verification of other known data. Research methodology is based on the background studies of P-score testifying, applying this approach to the Latvian condition. The present study analyzes the behaviour of the two models in identifying distress and fraud. To testify the results of the study, the authors use the financial analysis methods, comparison, statistical and quantitative research methods. Findings have shown the possibility of using the P-score and Z-score technique for bankruptcy fraud detection at the Latvian companies, based on the construction sector samples. The accuracy of the method is above 80%. Research limitations – acquisition a large amount of data on companies that are in the process of analytical studies on the recognition of their insolvency and having signs of fraud is not possible due to the confidentiality of information. Practical implications – the results of the study may be applicable to the audit of the company, investment reliability assessment, partnership evaluation and economic examination to detect fraud. Originality/Value of the study is the first test of practical implication of P-score model in Latvia and the Baltic countries on the samples of small and medium-sized construction companies. The authors propose improving the coefficients of the P-score model taking into account the requirements for financial statements in Latvia
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Selanda, Cut Annisa, and Afriyanti Hasanah. "Analysis of Corporate Bankruptcy and Financial Statement Fraud Prediction using Altman Models and Beneish Models." In The International Conference on Applied Economics and Social Science. SCITEPRESS - Science and Technology Publications, 2020. http://dx.doi.org/10.5220/0010354501540164.
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Arslan, Çetin, and Didar Özdemir. "Crime of Manipulation on Prices." In International Conference on Eurasian Economies. Eurasian Economists Association, 2015. http://dx.doi.org/10.36880/c06.01220.
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In a regular free market economy, the prices of goods and services occur at the point where the quantities of supply and demand get up with one another. On the other hand, it can be in question the distortion of this equilibration by various purposes and practices. In this case, optimal goods and services cannot be received under optimum conditions. As a conclusion of “ultima ratio” principle in the criminal law, every illegal conduct in this context does not constitute a crime but some fraudulent ones are imposed a sanction. The crimes of “fraud” in articles 157-158, “fraudulent bankruptcy” in article 161, “bid rigging” in article 235, “rigging during the discharge of contractual obligation” in article 236 and “manipulation on prices” in article 237 of Turkish Penal Code are some of the examples which can be given in this context. In this study, “crime of manipulation on prices” which is not dwelled on adequately in the doctrine is examined by featuring the controversial points.