Category: fraud

Knapp: Big Four failed Australia for their multinational clients – Michael West

Knapp: Big Four failed Australia for their multinational clients

This submission by Jeffrey Knapp to the impending Parliamentary Inquiry into the Regulation of Auditing in Australia documents how the Big 4 audit firms – KPMG, PwC, Deloitte and EY – have undermined Australian auditing and financial reporting practice for multinational clients. Knapp includes a number of recommendations.

via Knapp: Big Four failed Australia for their multinational clients – Michael West

What kind of company sells a dud like this to its customers?

Allianz, Suncorp refund $62.8m to customers from insurance sold by car dealers

Corporate fraud and crime that nobody gets arrested for and and MPs like Dutton don’t politicize. Why focus on the Sudanese… they’re Black, stand out, are easy and don’t donate to the Liberal Party.  (olddogThought)

via What kind of company sells a dud like this to its customers?

[Video] CONgress Told To Sell Stocks Two Weeks Before 2008 Financial Crash (And Other Kinds of Legalized Fraud)

    They Made Millions of Dollars As They Made Millions Homeless If you thought that the US government could not get any dirtier, think again. Less than two weeks before the financial crisis of 2008, several congress members sold their shares in an act …

Source: [Video] CONgress Told To Sell Stocks Two Weeks Before 2008 Financial Crash (And Other Kinds of Legalized Fraud)

“The $9 Billion Witness: Meet the woman JPMorgan Chase paid one of the largest fines in American history to keep from talking. All the Australian banking had to say was sorry to 400,000 victims they kept most of the money.

http://www.democracynow.org/2014/11/7/matt_taibbi_and_bank_whistleblower_on

“How is it that you can be a CEO, over $29 billion worth of fines, and get a raise? It also clearly shows that there’s no deterrent to all of these fines. It’s just happening over and over again. And if there aren’t any individuals held accountable, there’s no reason for any of them to actually stop doing these very serious crimes.”

And one of the things that I think has been sold to the public is, well, these are really complex and difficult, or we don’t really know who did what. First, in my case, and what I’ve seen in these other cases, there are all sorts of documents that show exactly who was making the decisions and who knew what. The idea that they’re too complex, you know, these securities themselves that are sold to investors are complex, but the fact that the investors were lied to about the quality of the loans, that’s actually really easy. And the fact that obviously if you have people who can’t afford their loans, there’s going to be no money coming out of these loans, is also something that’s not a difficult thing to understand.”