Word: faking
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...Sala returned with the case filled with cash. By now Parmalat's true debts were too big to hide. The beginning of the end came in 1999, when Parmalat executives transferred the activities of the three shell companies to Bonlat, the Cayman Islands firm at the center of the fake Cuban milk scheme. By 2002, Bonlat's fictitious assets had grown so enormous - up to $8 billion - that the company had to invent a Cayman Islands-based investment fund called Epicurum to take over some of its fictitious credits. Epicurum soon attracted the attention of auditors and Italy's stock...
...movie moment.' Suddenly I knew how to make this film." Sixteen years later, that vision is finally reaching completion on the set at London's Pinewood Studios, where the ingenue, Christine, and her beloved Raoul are pledging their noisy passion on a make-believe rooftop of the Paris Opera. Fake snow swirls, and an orchestra assaults the eardrums. Amid the chaos, Schumacher appears relaxed, even louche, as he watches the action through his monitor. He's having a good time. And he's just one of many directors out to revive the movie musical - a trend that began when...
...grew too large to hide, Tanzi, Tonna and the two auditors allegedly came up with Parmalat's most audacious invention: a bogus milk producer in Singapore that supposedly supplied 300,000 tons of nonexistent milk powder to a Cuban importer via Bonlat, a Cayman Islands subsidiary that held the fake Bank of America account. "What struck and surprises me is the simplicity," says Francesco Greco, the senior magistrate in Milan on the case. "It was almost banal...
...losing more than $300 million annually in Latin America alone. Parmalat decided to move some of its debt off the company's consolidated financial statements. It did so through three shell companies based in the Caribbean. These firms pretended to sell Parmalat products, and Parmalat would send them fake invoices and charge costs and fees to make the "sales" look legitimate. Then Parmalat would write out a credit note for the amount the subsidiaries supposedly owed it, and take that to banks to raise money. To make the debt disappear, Parmalat transferred the liabilities to off-book subsidi-aries, also...
...single-mom fear at the time - as a plot device. That, plus Tiger's munificence, lavish parties and working trips to his French estate, helped make the job bearable. Yet the strain grew worse. "Can one write from another person's heart?" she asks. "It's like trying to fake sincerity." Erdal's misgivings came to a head after her new husband objected to Tiger's intrusiveness (47 phone calls in a single day). So she gave up the ghost, parting amicably with Tiger five years ago. Erdal set about writing a novel of her own. "But this other story...