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  • eBook-Kapitel aus dem Buch Accounting Fraud

    Case 28: EM.TV (Germany, 2000)

    Prof. Dr. Klaus Henselmann, Dr. Stefan Hofmann
    …founded in 1989 by Thomas Haffa and his younger brother Florian, based on a small offering of children’s programming. The company quickly gained… …became apparent in their trial, where the once-celebrated men were booed by the courtroom observers. Thomas Haffa knew early on that he wanted to be… …, which was seen as Germany’s answer to NASDAQ. Thomas Haffa decided to join the Neuer Markt because he believed that no bank would have financed EM.TV… …, for about EUR 1.6 billion. Perhaps caught in the thrill of the markets, Thomas Haffa boldly stated: “I am 48. When I am 50, I will buy Disney.”… …its views of the company’s prospects. On the one hand, prognoses from Thomas Haffa continued to be overwhelmingly encouraging. On the other hand… …, Thomas Haffa made the following public statement regarding the status of EM.TV’s business: “We stand entirely by our prognosis. Business is going very… …115.50 in February 2000, the shares plummeted and were worth only EUR 6.75 each on December 4, 2000. This led to a chain reaction: Florian Haffa, Thomas… …; this forced Thomas Haffa’s resignation in July 2001. Several months later, in November 2001, the Munich district attorney filed a complaint against the… …with invoices that were backdated. Thomas Haffa denied all the allegations directed at him and his brother. He insisted that their statements were… …trying to deceive shareholders and the public.” However, the pair’s greatest defender was defence witness Leo Kirch. (Thomas Haffa, once a protégé…
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  • eBook-Kapitel aus dem Buch Accounting Fraud

    Case 7: Waste Management (1997)

    Prof. Dr. Klaus Henselmann, Dr. Stefan Hofmann
    …. Accounting Fraud in U.S. Companies 58 “Our complaint describes one of the most egregious accounting frauds we have seen,” said Thomas C. Newkirk… …auditors. Corporate controller and CAO Thomas C. Hau was the accounting expert who, among other things, devised many accounting ma- nipulations and… …, 2001 Securities and Exchange Commission: SEC v. Dean L. Buntrock, Phillip B. Rooney, James E. Koenig, Thomas C. Hau, Herbert A. Getz, and Bruce D…
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  • eBook-Kapitel aus dem Buch Accounting Fraud

    Case 17: Global Crossing (2002)

    Prof. Dr. Klaus Henselmann, Dr. Stefan Hofmann
    …spent in its cash flows from investing activities. Former CEO Thomas Casey, former CFO Dan Cohrs and former vice president of finance Joseph Perrone… …after it wrote down the value of its fiber optic network. References: Securities and Exchange Commission: SEC v. Thomas J. Casey, Dan J. Cohrs…
  • eBook-Kapitel aus dem Buch Accounting Fraud

    Case 37: Siemens (Germany, 2006)

    Prof. Dr. Klaus Henselmann, Dr. Stefan Hofmann
    …of money involved in the matter from EUR 20 million to EUR 200 million. In December 2006, police arrested Thomas Ganswindt, former chief executive… …annual group reports. KPMG spokesman Thomas Blees, commenting upon the network of “black accounts” and the illicit payments at Siemens, insisted: “We… …wrongdoing that brought shame to Corporate America. “One notable difference is that Enron essentially fell almost to ground zero,” said Thomas Donaldson… …than the Siemens fraud, and struck at the heart of German integrity. According to Wharton professor Thomas Donaldson, the attitude that bribery is…
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  • eBook-Kapitel aus dem Buch Accounting Fraud

    Case 4: MiniScribe (1989)

    Prof. Dr. Klaus Henselmann, Dr. Stefan Hofmann
    …temptation to fudge the numbers is greatest. In early 1985, MiniScribe hired a turnaround specialist, Quentin Thomas (Q.T.) Wiles, who had previously…
  • eBook-Kapitel aus dem Buch Accounting Fraud

    Case 6: Bausch & Lomb (1994)

    Prof. Dr. Klaus Henselmann, Dr. Stefan Hofmann
    …creates the risk of im- proper revenue recognition,” said Thomas C. Newkirk, associate director of the SEC’s division of enforcement. In December 1995…
  • eBook-Kapitel aus dem Buch Accounting Fraud

    Case 2: ZZZZ Best Company (1987)

    Prof. Dr. Klaus Henselmann, Dr. Stefan Hofmann
    …buddy Thomas Padgett as owner and principal officer. Minkow convinced bankers and investors that he had won large contracts to restore buildings… …insurance restoration sites himself. He had just confirmed the existence of the major restoration contracts by contacting Thomas Padgett. In April 1986…
  • eBook-Kapitel aus dem Buch Accounting Fraud

    Case 8: Sunbeam (1998)

    Prof. Dr. Klaus Henselmann, Dr. Stefan Hofmann
    …be). SEC enforcement officer Thomas C. Newkirk noted that the fraud was engineered to dress up Sunbeam, in order to make the company look much more…
  • eBook-Kapitel aus dem Buch Accounting Fraud

    Case 23: Computer Associates International (2004)

    Prof. Dr. Klaus Henselmann, Dr. Stefan Hofmann
    …organization. Thomas W. Dunfee, professor of legal studies and ethics at Wharton, suggested: “I don’t think that anybody actually sets out to establish evil…
  • eBook-Kapitel aus dem Buch Accounting Fraud

    Fraud Theories

    Prof. Dr. Klaus Henselmann, Dr. Stefan Hofmann
    …Buckhoff, Thomas A.: Employee Fraud: Perpetrators and their Motivations, www.nysscpa.org/cpajournal/2001 Duffield, Grace / Grabosky, Peter: The…
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