Word: frauds
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Dates: during 1980-1989
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Extortion, protection rackets and tax fraud are the stuff of daily life. There are threats and occasionally even executions. It sounds like Al Capone's Chicago or Mafia-dominated Sicily in the days of gangland wars. But instead, all those evils are flourishing in today's Northern Ireland in neighborhoods controlled by extremists. Says Brian Feeney, a Belfast city councilor: "This is real godfather stuff. Everybody pays. If you don't, they threaten to harm your family or workers...
...routine case of industrial hanky-panky. The defendant, said Judge George Bason Jr. of the U.S. Bankruptcy Court in Washington, was guilty of stealing a computer program developed by a private company and driving the firm out of business. In a blistering denunciation, Bason accused the defendant of "trickery, fraud and deceit." Nothing terribly unusual there -- except that the defendant was the U.S. Department of Justice...
Intelsat began getting suspicious a year ago, when Charles Gerrell, an Arkansas mortgage broker who was later convicted with Colino of conspiracy to commit fraud, demanded payment of a commission for arranging a construction loan. A spot internal audit discovered that no such payment was due. Further auditing by Peat Marwick revealed other oddities. In early December 1986, on his return from a jaunt to Australia, Colino found his eighth-floor office sealed off by armed guards. He was escorted from the building shouting, "I'm taking names! I'm going to kick butts when I get back in power...
...fraud began to unravel last January when, following a warehouse fire, police discovered falsified bank orders in Agrokomerc's records. Newspapers, relying on government leaks, began running stories on the scandal in August. Earlier this month the entire governing boards of both Agrokomerc and the Privredna Banka branch were fired, while Abdic and seven others were jailed on charges of "counterrevolutionary activities." Following demands for a purge of the Bosnian hierarchy from Communist leaders in Belgrade, the capital, 50 functionaries were expelled from the republic's party organization...
...through needed reforms. On the reformers' list are such measures as liquidation of money-losing state companies, closer supervision of regional banks by central authorities, and curbs on the ability of regional governments to veto national legislation. Moreover, the Yugoslav press played an unusually aggressive role in uncovering the fraud, and optimists hope that the high-level resignations ^ and arrests indicate that the days of official cover-ups are ending...