Word: scheming
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...scheme, the idea of a small U.N. agency, is backed by the travel industry and heavyweights of international aid such as the William J. Clinton Foundation and the Bill and Melinda Gates Foundation. It will be formally announced in New York City on Sept. 23 on the fringes of the U.N. General Assembly, and accompanied by a marketing blitz. British Prime Minister Gordon Brown and the head of the World Bank, Robert Zoellick, are expected to participate in the launch, as well as the chief executives of the three companies that have made it technically possible: Amadeus, Sabre and Travelport/Galileo...
...success or failure of the scheme will depend on how it's perceived by the public. The Sept. 23 U.N. meeting will kick off a marketing campaign that seeks to win over consumers. And the travel industry has been busy making sure the technology works perfectly before launch. "It's all a question of how it's presented to the consumer," Wilson says. Travel agents will be automatically given the prompt to ask for the donation as they process an order. Online, a new box will show up in the shopping cart just before customers are asked for their credit...
...proxy statement is much lower than for general securities fraud. In proxy fraud, the prosecution just has to prove that Lewis was negligent in not including certain information. The SEC does not have to prove, as is the case in regular securities fraud, that Lewis orchestrated a scheme to defraud investors. Poor judgment could be enough to get you in hot water in proxy fraud...
...Cuomo will have a higher bar to clear if he's looking for wrongdoing outside the proxy statements. In general securities-fraud cases, it must be proven that executives of a company knew that a piece of information was material and created a scheme to make sure shareholders didn't find out about it. Certainly if Lewis or others were found guilty of that they would face stiff penalties. What's more, judges typically are more likely to ban, at least temporarily, executives of financial-services companies who are found in violation of securities-fraud laws because it is considered...
...seems surprising that the leaders of an institution as sophisticated as Hizballah would fall for a simple Ponzi scheme. But the organization relies on a network of businessmen and fundraisers such as Ezzeddine, not just in southern Lebanon but also in West Africa, South America and wherever expatriate Lebanese do business. Hizballah has been trying to become financially independent from its main patron, Iran (which has its own financial problems), and earlier this year, a Hizballah official told TIME the organization is close to becoming completely self-sustaining. What effect the Ezzeddine scandal has on those plans remains...