Fraud of the year, 2008

Who was the greatest Wall Street Fraud of 2008? Marc Dreier was a lawyer who ran one of Wall Street’s cleverest frauds. He crafted false documents, impersonated people, and fooled sophisticated money managers. The story of Marc Dreier’s fraud only lasted a couple of days on page one before Bernie Madoff took the spotlight. Madoff [...]

Fraud of the day

I taught two sections of Auditing in Fall 2008. I would accumulate fraud stories from newspapers, and bring them to class. I asked students to do the same. The rules were that it had to be a fraud involving manipulation of accounting records, not a fraud such as false advertising. I encouraged students to bring [...]