Word: concealability
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Dates: during 1990-1999
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...facing the truth about his life. Only he hasn't yet met the truth. For he has been lied to even more extensively than he supposes. Told that he's suffering from a minor intestinal ailment, he's actually riddled with cancer. Those closest to him have conspired to conceal his condition...
...HEAR U.S. PROSECUTORS TELL IT, the stunts that Japan's Daiwa Bank used to conceal the nefarious conduct of its Manhattan office might have come from The Sting. The end result, however, was more akin to the farcical Dumb and Dumber. Among the flagrant ruses employed by Daiwa, prosecutors said, was disguising a downtown trading floor as a nondescript storage room during audits by Federal Reserve regulators. But no sooner had the Feds left than the traders reappeared--led by Toshihide Iguchi. It was his dual role as chief bond trader and bookkeeper that ultimately brought the bank to grief...
...wrote to his superiors in July after confessing his wrongdoing. In one such letter on July 24, Iguchi said there was "zero possibility" that Federal Reserve inspectors would find him out if the bank were to buy back some of the Treasury securities that he had illicitly sold to conceal his losses. The same hubris permeated skull sessions that allegedly took place when Iguchi met with a Daiwa managing director from Osaka and the head of the New York branch on July 28 and 29 in Manhattan's Park Lane Hotel. The indictment said the managing director insisted that...
Does this add up to a conspiracy on the part of the two top bank officials to conceal Barings' mounting losses? Some of those who worked with Leeson and Norris, as well as British authorities, are unconvinced. While prepared to concede gross incompetence on the part of senior Barings management, they find it difficult to believe Bax and Norris could have known about or suspected the magnitude of Leeson's swindle and remained quiet...
...Japanese banks if those banks are playing games with us. It will also make anybody doing business with Japanese banks very cautious." In addition to pleading guilty today to doctoring records to hide years of losses, Iguchi also pleaded guilty to conspiring with Daiwa's senior management to conceal the losses. Iguchi faces 90 years in jail and a minimum fine of $3 million...