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(1) Identify an organization that has suffered from fraudulent activity. It can be one that has been in the news or an entity that you know has committed a fraud and find everything you can about that entity from various Internet sites and other resources. Assume you have been hired by a company to investigate this person’s background. Write your findings up in a report.
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Please see response attached, which is also presented below. I hope this helps and take care.
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Write My Essay For MeRESPONSE:
(1) Identify an organization that has suffered from fraudulent activity. It can be one that has been in the news or an entity that you know has committed a fraud and find everything you can about that entity from various Internet sites and other resources. Assume you have been hired by a company to investigate this person’s background. Write your findings up in a report.
Let’s look at the Sunbeam scandal. I located information on the scandal, as well as the CEO implicated in the fraudulent activity (All Dunlop) who still maintains his innocence. Interestingly, Sunbeam’s auditor was Arthur Andersen LLP, which also audited the books at Enron and WorldCom. Was he the real culprit?
Example 1: THE AX FAILS ON SUNBEAM’S CHAINSAW AL. (CEO for Sunbeam from 1996 to 1998, Al Dunlop, nicknamed “Chainsaw” Al, landed in court)
Why?
. Dunlap’s goals were perhaps unrealistic for Sunbeam Yes, and illegal–see highlighted in yellow below (in attached response)
. Dunlap’s slice-and-dice plan was based on a short-term strategy and a long-term strategy as well; however, the ethics of the plan came in front of the courts (e.g., “get-rich-at any expense” era).
Mainly, because both set of goals were based on information that was based on accounting irregularities as stated in the case against the company below. In other words, it was based on a picture of the company that did not exist.
. Dunlap’s turnaround strategy backfired
Why? He used unethical means to an end, which always have a way of catching up to people. The court case against Dunlop is presented below:
The following articles and examples expands on these ideas:
Article 1: SETTLEMENT ARCHIVED:
Sunbeam Ex-CEO ‘Chainsaw Al’ Dunlap Settles SEC Case
By: Neil Roland and Judy Mathewson — with reporting by Robert Schmidt in Washington
Bloomberg News. September 4, 2002
