Backdating scandal

The mission of the Financial Institution Fraud Unit is to identify, target, disrupt, and dismantle criminal organizations and individuals engaged in fraud schemes which target our nation’s financial institutions.Areas investigated in the financial institution fraud arena include: financial institution failures, insider fraud, check fraud, counterfeit negotiable instruments, check kiting, loan fraud, and mortgage fraud.As of the end of Fiscal Year (FY) 2006, 490 Corporate Fraud cases are being pursued by FBI field offices throughout the U.S., 19 of which involve losses to public investors that individually exceed

The mission of the Financial Institution Fraud Unit is to identify, target, disrupt, and dismantle criminal organizations and individuals engaged in fraud schemes which target our nation’s financial institutions.Areas investigated in the financial institution fraud arena include: financial institution failures, insider fraud, check fraud, counterfeit negotiable instruments, check kiting, loan fraud, and mortgage fraud.As of the end of Fiscal Year (FY) 2006, 490 Corporate Fraud cases are being pursued by FBI field offices throughout the U.S., 19 of which involve losses to public investors that individually exceed $1 billion.(1) Falsification of financial information, including:(a) False accounting entries(b) Bogus trades designed to inflate profit or hide losses(c) False transactions designed to evade regulatory oversight(2) Self-dealing by corporate insiders, including:(a) Insider trading(b) Kickbacks(c) Backdating of executive stock options(d) Misuse of corporate property for personal gain (e) Individual tax violations related to self-dealing(3) Fraud in connection with an otherwise legitimately-operated mutual or hedge fund:(a) Late trading(b) Certain market timing schemes(c) Falsification of net asset values(d) Other fraudulent or abusive trading practices by, within, or involving a mutual or hedge fund(4) Obstruction of justice designed to conceal any of the above-noted types of criminal conduct, particularly when the obstruction impedes the inquiries of the Securities and Exchange Commission (SEC), other regulatory agencies, and/or law enforcement agencies.The FCS is divided into four units: the Economic Crimes Unit, Health Care Fraud Unit, Financial Institution Fraud Unit, and the Asset Forfeiture/Money Laundering Unit.The Economic Crimes Unit is responsible for significant frauds targeted against individuals, businesses and industries to include: corporate fraud, insurance fraud (non-health care related), securities and commodities fraud, mass marketing fraud, telemarketing fraud, Ponzi schemes, advance fees schemes, and pyramid schemes.The following notable statistical accomplishments are reflective in FY 2006 for Corporate Fraud: $1.2 billion in Restitutions, $41.5 million in Recoveries, $14.2 million in Fines, and $62.6 million in Seizures. (Comverse) is a New York-based designer and manufacturer of telecommunication systems and software, with reported revenues of $1.2 billion in FY 2005.

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The mission of the Financial Institution Fraud Unit is to identify, target, disrupt, and dismantle criminal organizations and individuals engaged in fraud schemes which target our nation’s financial institutions.

Areas investigated in the financial institution fraud arena include: financial institution failures, insider fraud, check fraud, counterfeit negotiable instruments, check kiting, loan fraud, and mortgage fraud.

As of the end of Fiscal Year (FY) 2006, 490 Corporate Fraud cases are being pursued by FBI field offices throughout the U.

billion.(1) Falsification of financial information, including:(a) False accounting entries(b) Bogus trades designed to inflate profit or hide losses(c) False transactions designed to evade regulatory oversight(2) Self-dealing by corporate insiders, including:(a) Insider trading(b) Kickbacks(c) Backdating of executive stock options(d) Misuse of corporate property for personal gain (e) Individual tax violations related to self-dealing(3) Fraud in connection with an otherwise legitimately-operated mutual or hedge fund:(a) Late trading(b) Certain market timing schemes(c) Falsification of net asset values(d) Other fraudulent or abusive trading practices by, within, or involving a mutual or hedge fund(4) Obstruction of justice designed to conceal any of the above-noted types of criminal conduct, particularly when the obstruction impedes the inquiries of the Securities and Exchange Commission (SEC), other regulatory agencies, and/or law enforcement agencies.The FCS is divided into four units: the Economic Crimes Unit, Health Care Fraud Unit, Financial Institution Fraud Unit, and the Asset Forfeiture/Money Laundering Unit.The Economic Crimes Unit is responsible for significant frauds targeted against individuals, businesses and industries to include: corporate fraud, insurance fraud (non-health care related), securities and commodities fraud, mass marketing fraud, telemarketing fraud, Ponzi schemes, advance fees schemes, and pyramid schemes.The following notable statistical accomplishments are reflective in FY 2006 for Corporate Fraud:

The mission of the Financial Institution Fraud Unit is to identify, target, disrupt, and dismantle criminal organizations and individuals engaged in fraud schemes which target our nation’s financial institutions.Areas investigated in the financial institution fraud arena include: financial institution failures, insider fraud, check fraud, counterfeit negotiable instruments, check kiting, loan fraud, and mortgage fraud.As of the end of Fiscal Year (FY) 2006, 490 Corporate Fraud cases are being pursued by FBI field offices throughout the U.S., 19 of which involve losses to public investors that individually exceed $1 billion.(1) Falsification of financial information, including:(a) False accounting entries(b) Bogus trades designed to inflate profit or hide losses(c) False transactions designed to evade regulatory oversight(2) Self-dealing by corporate insiders, including:(a) Insider trading(b) Kickbacks(c) Backdating of executive stock options(d) Misuse of corporate property for personal gain (e) Individual tax violations related to self-dealing(3) Fraud in connection with an otherwise legitimately-operated mutual or hedge fund:(a) Late trading(b) Certain market timing schemes(c) Falsification of net asset values(d) Other fraudulent or abusive trading practices by, within, or involving a mutual or hedge fund(4) Obstruction of justice designed to conceal any of the above-noted types of criminal conduct, particularly when the obstruction impedes the inquiries of the Securities and Exchange Commission (SEC), other regulatory agencies, and/or law enforcement agencies.The FCS is divided into four units: the Economic Crimes Unit, Health Care Fraud Unit, Financial Institution Fraud Unit, and the Asset Forfeiture/Money Laundering Unit.The Economic Crimes Unit is responsible for significant frauds targeted against individuals, businesses and industries to include: corporate fraud, insurance fraud (non-health care related), securities and commodities fraud, mass marketing fraud, telemarketing fraud, Ponzi schemes, advance fees schemes, and pyramid schemes.The following notable statistical accomplishments are reflective in FY 2006 for Corporate Fraud: $1.2 billion in Restitutions, $41.5 million in Recoveries, $14.2 million in Fines, and $62.6 million in Seizures. (Comverse) is a New York-based designer and manufacturer of telecommunication systems and software, with reported revenues of $1.2 billion in FY 2005.

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The mission of the Financial Institution Fraud Unit is to identify, target, disrupt, and dismantle criminal organizations and individuals engaged in fraud schemes which target our nation’s financial institutions.

Areas investigated in the financial institution fraud arena include: financial institution failures, insider fraud, check fraud, counterfeit negotiable instruments, check kiting, loan fraud, and mortgage fraud.

As of the end of Fiscal Year (FY) 2006, 490 Corporate Fraud cases are being pursued by FBI field offices throughout the U.

.2 billion in Restitutions, .5 million in Recoveries, .2 million in Fines, and .6 million in Seizures. (Comverse) is a New York-based designer and manufacturer of telecommunication systems and software, with reported revenues of

The mission of the Financial Institution Fraud Unit is to identify, target, disrupt, and dismantle criminal organizations and individuals engaged in fraud schemes which target our nation’s financial institutions.Areas investigated in the financial institution fraud arena include: financial institution failures, insider fraud, check fraud, counterfeit negotiable instruments, check kiting, loan fraud, and mortgage fraud.As of the end of Fiscal Year (FY) 2006, 490 Corporate Fraud cases are being pursued by FBI field offices throughout the U.S., 19 of which involve losses to public investors that individually exceed $1 billion.(1) Falsification of financial information, including:(a) False accounting entries(b) Bogus trades designed to inflate profit or hide losses(c) False transactions designed to evade regulatory oversight(2) Self-dealing by corporate insiders, including:(a) Insider trading(b) Kickbacks(c) Backdating of executive stock options(d) Misuse of corporate property for personal gain (e) Individual tax violations related to self-dealing(3) Fraud in connection with an otherwise legitimately-operated mutual or hedge fund:(a) Late trading(b) Certain market timing schemes(c) Falsification of net asset values(d) Other fraudulent or abusive trading practices by, within, or involving a mutual or hedge fund(4) Obstruction of justice designed to conceal any of the above-noted types of criminal conduct, particularly when the obstruction impedes the inquiries of the Securities and Exchange Commission (SEC), other regulatory agencies, and/or law enforcement agencies.The FCS is divided into four units: the Economic Crimes Unit, Health Care Fraud Unit, Financial Institution Fraud Unit, and the Asset Forfeiture/Money Laundering Unit.The Economic Crimes Unit is responsible for significant frauds targeted against individuals, businesses and industries to include: corporate fraud, insurance fraud (non-health care related), securities and commodities fraud, mass marketing fraud, telemarketing fraud, Ponzi schemes, advance fees schemes, and pyramid schemes.The following notable statistical accomplishments are reflective in FY 2006 for Corporate Fraud: $1.2 billion in Restitutions, $41.5 million in Recoveries, $14.2 million in Fines, and $62.6 million in Seizures. (Comverse) is a New York-based designer and manufacturer of telecommunication systems and software, with reported revenues of $1.2 billion in FY 2005.

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The mission of the Financial Institution Fraud Unit is to identify, target, disrupt, and dismantle criminal organizations and individuals engaged in fraud schemes which target our nation’s financial institutions.

Areas investigated in the financial institution fraud arena include: financial institution failures, insider fraud, check fraud, counterfeit negotiable instruments, check kiting, loan fraud, and mortgage fraud.

As of the end of Fiscal Year (FY) 2006, 490 Corporate Fraud cases are being pursued by FBI field offices throughout the U.

.2 billion in FY 2005.

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The FBI focuses its financial crimes investigations on such criminal activities as corporate fraud, health care fraud, mortgage fraud, identity theft, insurance fraud, mass marketing fraud, and money laundering.

These are the identified priority crime problem areas of the Financial Crimes Section (FCS) of the FBI.

The mission of the FCS is to oversee the investigation of financial fraud and to facilitate the forfeiture of assets from those engaging in federal crimes.

During FY 2006, the FBI investigated 490 Corporate Fraud cases resulting in 171 indictments and 124 convictions of corporate criminals.

Numerous cases are pending plea agreements and trials.

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One thought on “backdating scandal”

  1. I was reading this article at TMZ, in it good old Ray J said and I quote “I’m over sex tapes”, this coming from the man that got in the spotlight in the best way possible, now isn’t that a bit rich?