This book addresses such issues as the culture of anything goes on Wall Street which fueled the innovation of exotic asset-backed securities whose riskiness and questionable legality went either unaddressed or underestimated to the devastating disadvantage of institutions that invested in them. The egregiouslyfraudulent lending practices that engulfed the entire US mortgage industry, leading to the fatal deterioration of balance sheets and ultimate collapse of major players such as Washington Mutual, Wachovia, as well as untold thousands of unscrupulous mortgage brokers, appraisers and law firms. The looting of major financial firms such as Lehman Brothers, Merrill Lynch and others by their former senior executives just before the companies collapsed. The widespread fraudulent marketing of asset-backed securities, based on exaggerated or completely fictitious representations of risk levels, including the stunning indictments of two highly regarded Bear Stearns traders. The latter part of the book will address options for preventing similar disasters from recurring and will provide readers with practical guidelines for protecting themselves and their companies from various forms of fraud that were found to have played a role inthe current economic and financial crisis.Peter D. Goldmann (Ridgefield, CT), is founder and President of White-Collar Crime 101 LLC, the parent company of FraudAware and publisher of the monthly newsletter, White-Collar Crime Fighter. Peter has been the Publisher and Editorof White-Collar Crime Fighter for over 12 years and is recognized as a leading expert in the areas of fraud detection, prevention, investigation and training. He has written numerous articles on practical approaches to fraud prevention and detection for, among others, Internal Auditor, Investor's Business Daily, The Fraud Examiner and Bottom Line/Personal. He speaks at events sponsored by the Association of Certified Fraud Examiners, The International Associationof Financial Crime Investigators, National White-Collar Crime Center and numerous industry trade associations. He also is a member of the Editorial Advisory Board of the Association of Certified Fraud Examiners.
- ISBN: 978-0-470-50789-6
- Editorial: John Wiley & Sons
- Encuadernacion: Cartoné
- Páginas: 272
- Fecha Publicación: 31/03/2010
- Nº Volúmenes: 1
- Idioma: Inglés