Post Jobs

ZZZZ BEST CASE STUDY 1.9

The production of these phony documents was so skillfully done using photocopying equipments that the company auditors accepted them as evidence that actually sales or receivables transactions occurred in the company Berman 7. Barry Minkow and his other two associates engaged in protecting their fraud activities by making fake invoices for sales as well as fake customer remittance checks. On the side of investors is the loss brought by the company for its fictitious business for restoration of buildings damaged by fire and flood. The stocks exchange commissioners, brokers and stocks investment advices can also be seen as a cause for the fraud. Just to be noted here is the fact that the whole ZZZZ Best fraud activities brought financial loss even to carpet cleaning customers as their credit cards were often over billed for services rendered.

It has been established that the ZZZZ Best carpet fraud case acted as an eye opener indicating the weakness of auditing, banking and stock exchange practices of our economy. Still, it has been established that the scum and its associated consequences formed the basis for Barry Minkow to become a saved man. Investigation into the case established that the company had operated for an estimated five years by using fictitious sales invoice and customer remittance checks as a proof for the company receivables Baliga This is why it calls for the government to investment more resources in enforcing the existing ant-fraud laws as well as enacting and implementing of much effective laws to protect investors from frauds. These investigations led to the arresting, charging and convicting of Barry Minkow and his business associates for engaging in fraudulent activities. Another cause was quest for prosperity by Barry Minkow in business by all means. Another consequence is the imprisonment of Barry Minkow and his business associates for fraud charges.

In a way of engaging loan givers, Barry Minkow opened a fictitious fire and flood damaged buildings restoration business, a company which he listed in the public stock market within a short period. This thus means that the investment was indeed a financial loss for banks Lieberman.

These investigations led to the arresting, charging and convicting of Barry Minkow and his business associates for engaging in fraudulent activities. The fraud scum brought loss to investors.

zzzz best case study 1.9

It has been established that the ZZZZ Best carpet fraud case acted as casee eye opener indicating the weakness of auditing, banking and stock exchange practices of our economy. Such could only be equated to failure by the banking sector to qualify financial statements of companies, authenticate checks and qualify the actual worthy of a business before giving a loan.

  THESIS UTM FKE

zzzz best case study 1.9

On the side of investors is the loss brought by the company for its fictitious business for restoration of cass damaged by fire and flood.

Still, the ZZZZ Best Carpeting Fraud scum was established to have had involved fictitious vendor payments and check kitting practices in and out of three banks Wells How the shares cass ZZZZ Best grew in value of a short time remained questionable given the fact that it was never quite commonly known in the public domain.

Another cause was quest for prosperity by Barry Minkow in business by all means. The government serves the sole purpose of protecting its citizens against social, physical psychological and economic instability.

ZZZZ Best Carpeting Fraud case

Still on this, is the fact that Barry Minkow is noted to have been involved in check kitting practices among three banks. This is why it calls for the government to investment more resources in enforcing the existing ant-fraud laws as well as enacting and implementing of much effective laws to protect investors from frauds.

The company also engaged in over billing carpet cleaning customers through their credit cards Akst. Just to be noted here is the fact that the whole ZZZZ Best fraud activities brought financial loss even to carpet cleaning customers as their credit cards were often over billed for services rendered.

The stocks exchange commissioners, brokers and stocks investment advices can also be seen as a cause for the fraud.

ZZZZ Best Carpeting Fraud case an Example of the Topic Business Essays by

Following the revealing of the ZZZZ Best carpet fraud case, the government moved to sell the company assets to compensate investors who lost in the scum Akst. Therefore, to prevent case like the ZZZZ Best carpet fraud case, the government should put in place stiffer zzzs and regulations to ensure transparency and effectiveness of the auditing practices Baliga Following the discovery of the ZZZZ Best carpeting fraud activities, the company was investigated and charges made against its owners, a move which saw Barry Minkow convicted and sentenced for 25 years Lieberman.

zzzz best case study 1.9

It has been established that the operations of ZZZZ Best Carpeting cleaning business were initiated through constant borrowings and never made any profits. Barry was initially sentenced for 25 years but was only served for seven in jail. Investigation findings into the ZZZZ Best Carpeting Fraud case clearly show that Barry engaged in check kitting in and out of three banks for the purposes of realizing successful loan securing despite the fact that his company did not make profits Wells The production of these phony documents was so skillfully done using photocopying equipments that the company auditors accepted them as evidence that actually sales or receivables transactions occurred in the company Berman 7.

  HELL EXOTHERMIC ENDOTHERMIC ESSAY JOKE

Recent Topics

However, despite this seemingly booming business, almost all its revenues came from fictitiously recorded receivables Wells This correlation was no doubt missing in the ZZZZ Best Carpeting Company but its auditors did not expose it to serve investors from eminent loss of their investment.

Still, it has been established that the scum and its associated consequences formed the basis for Barry Minkow to become a saved man.

Barry Minkow and his other two associates engaged in protecting their fraud activities by making fake invoices for sales as well as fake customer remittance checks. According to investigation report evidence, the company did not make profit and stuy operated on borrowing funds Wells We will write a custom essay sample specifically for you Proceed.

Another consequence is the imprisonment of Barry Minkow and his business associates for fraud charges.

Case ZZZZ Best Co Inc. by Ryan Demko on Prezi

Need essay sample on. Such also made him become the founder of the Fraud Discovery Institute in San Diego, whose purpose is to educate investors and general public on how to identify and avoid fraud Lieberman. Investigation into the case established that the company had operated for an estimated five years by using fictitious sales invoice and customer remittance checks as a proof 1.

the company receivables Baliga Through this the government will help in sufficiently reducing investor losses caused by inaccuracies of financial statements for companies, a move that could aid in the process of mitigating fraud activities in the society.