Word: fraude
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...issues surrounding Enron and WorldCom, where you can at least trace transactions and accounts, you cannot do so within the E.U. accounts as there is no system in place for tracing adjustments and changes to figures presented," Andreasen said at a press conference hosted by Britain's Conservative Party. "Fraud can therefore lie hidden within the system, undetected and untraced." With memories still fresh of the 1999 collapse of the previous European Commission under allegations of fraud and incompetence - few were ever proved - Andreasen's accusation whipped up a furor in British politics, especially among Euro-skeptic Tories...
...been something of an élitist institution short on modern management expertise, it does serve a vital role in enforcing European Union rules and it protects the interests of the smaller member states, Crossick says. "So the current round of criticism, especially the stereotypical allegations in the press of fraud and corruption, few of which have ever been substantiated, do seriously undermine the Commission and the work of the European Union...
That last phrase looms large in Bush's thinking. He resisted much of what the Senate proposed until the political pressure became overwhelming. He is now urging Congress to pass quickly the reform bill, which stiffens penalties for fraud and increases funding for the SEC, whose budget growth he had limited in February. Whatever legislation Bush signs will not address the widespread use and misuse of stock options, which have been cited as one of the main culprits of the market bubble and accounting legerdemain: the higher a company's reported profits, the higher go stock prices, and the more...
...product specialization and round-the-clock shifts. Now scandal at a competing shipyard may threaten Gdynia's success. The Stocznia Szczecinska shipyard, Poland's second largest shipbuilder, was forced in June to declare bankruptcy. Six of the company's former executives were arrested and charged with criminal mismanagement and fraud that led to $16 million in lost revenue. The yard's 6,000 former workers have been protesting daily, demanding that the government get them their lost wages. The scandal has exposed many of the country's banks and made them nervous about new investments. Gdynia is accused...
...Because he believes it reflects his own life story, Bush loves it when the elite are upstaged by the streetwise. But he repeated the anecdote at the inaugural meeting of his Corporate Fraud Task Force because it reflected his own view: complex reforms of securities law are well and good, but the best way to assure skittish investors that the government is fixing the problem is to nab a few bad guys. Bush got his cue when federal agents hauled away the founder of Adelphia Communications and his sons in handcuffs in front of a bank of television cameras. "This...