Word: fraude
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...records for accuracy, and describes his findings in a letter that becomes part of the annual report. The Security and Exchange Commission last week accused Price Waterhouse, one of the nation's oldest and most prestigious auditors, of not doing its job. As part of a crackdown on financial fraud, the agency charged that the company had winked at errors in the 1980 financial statements of AM International, a maker of copiers and other graphics equipment. AM entered bankruptcy proceedings in 1982 and was reorganized and emerged in 1984. It earned $67 million in its most recent fis- cal year...
When E.F. Hutton pleaded guilty last month to 2,000 counts of wire and mail fraud involving kited checks, its top officers denied any knowledge of the wrongdoing. A House Judiciary subcommittee last week produced documents that raised questions about Hutton's claim. Among them was a Hutton memo, apparently addressed to Hutton President George L. Ball, describing "disproportionately high interest . . . from aggressive overdrafting with several branches in the Washington, D.C., area...
...least 40 cameramen and reporters were jammed into the narrow corridor outside the Osaka apartment of Kazuo Nagano, 32. Inside, Nagano, the chief suspect in an alleged fraud that had bilked thousands of Japanese investors of $800 million, waited for what seemed to be his inevitable arrest. Suddenly, two men pushed their way through the crowd and announced to two private security guards, "We've been asked to kill him." When the guards refused to let them inside the apartment, the two men first tried to break open the door; when it did not yield, they smashed a small window...
...demanding to know why reporters and photographers had not tried to stop the killers or even summon the police. Japan's largest daily, Yomiuri Shimbun, criticized the journalists for putting their professional duties before humanitarian concerns, adding that "the mass media should search their souls." The suspect in another fraud investigation decided he was not taking any chances. The day after Nagano's murder, he surrendered to Tokyo police and was safely put behind bars...
...Union Rival Joseph ("Jock") Yablonski, his wife and daughter. The killings took place three weeks after Yablonski lost to Boyle in an election for the union presidency. Yablonski, once a lobbyist for the union, had announced that he intended to seek a new vote on grounds of fraud...