Fraud Case

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The Xerox Corporation
Fraud case (1997 – 2000)

Xerox Corporation is a global document management company which manufactures and sells a range of color and black-and-white printers, multifunction systems, photo copiers, digital production printing presses, and related consulting services and supplies. Xerox is headquartered in Norwalk, Connecticut, though its largest population of employees is based in and around Rochester, New York, the area in which the company was founded.

The history of Xerox:

The Xerox 914 was the first one-piece plain paper photocopier, and sold in the thousands.
Xerox was founded in 1906 in Rochester, New York as "The Haloid Company”, which originally manufactured photographic paper and equipment. The company subsequently changed its name to "Haloid Xerox" in 1958 and then simply "Xerox" in 1961 . The company came to prominence in 1959 with the introduction of the first plain paper photocopier using the process of xerography (electro photography) developed by Chester Carlson, the Xerox 914. The 914 was so popular that by the end of 1961, Xerox had almost $60 million in revenue. By 1965, revenues leaped to over $500 million. Before releasing the 914, Xerox had also introduced the first xerographic printer, the "Copyflo" in 1955.

The company expanded substantially throughout the 1960s, making millionaires of some long-suffering investors who had nursed the company through the slow research and development phase of the product. In 1960, the "Wilson Center for Research and Technology" was opened in Webster, New York, a research facility for xerography. In 1961 , the company changed its name to "Xerox Corporation" . Xerox common stock (XRX) was listed on the New York Stock Exchange in 1961 and on the Chicago Stock Exchange in 1990.

In 1963, Xerox introduced the Xerox 813, the first desktop plain-paper copier, bringing Carlson's vision of a copier that could fit on anyone's office desk into a reality. Ten years later in 1973, a color copier followed.

The laser printer was invented in 1969 by Xerox researcher Gary Stark weather by modifying a Xerox copier. This development resulted in the first commercially available laser printer, the Xerox 9700, being launched in 1977. Laser printing eventually became a multibillion dollar business for Xerox.

In 1970, under company president Charles Peter McColough, Xerox opened the Xerox PARC (Xerox Palo Alto Research Center) research facility. The facility developed many modern computing technologies such as the mouse and the graphical user interface (GUI). From these inventions, Xerox PARC created the Xerox Alto in 1973, a small minicomputer similar to a modern workstation or personal computer. This machine can be considered the first true personal computer, given its versatile combination of a cathode-ray-type screen, mouse-type pointing device, and a QWERTY-type alphanumeric keyboard. But the Alto was never commercially sold, as Xerox itself could not see the sales potential of it. In 1979, several Apple Computer employees, including Steve Jobs, visited Xerox PARC, interested in seeing their developments. Jobs and the others saw the commercial potential of the GUI and mouse, and began development of the Apple Lisa, which Apple introduced in 1983.

The Xerox Alto workstation was developed at Xerox PARC

In the mid 1980s, Apple bought rights to the Alto GUI and adapted it into to a more affordable personal computer, aimed towards the business and education markets. The Apple Macintosh was released in 1984, and was the first personal computer to popularize the GUI and mouse amongst the public.

Its current products...

Xerox today manufactures and sells a wide variety of office and production equipment including LCD Monitors, photo copiers, Xerox Phaser printers, multifunction printers, large-volume digital printers as well as workflow software under the brand strategy of Free Flow. Xerox also sells scanners and digital presses. On 29 May...
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