Preview

Grano's Fraud Case

Satisfactory Essays
Open Document
Open Document
283 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Grano's Fraud Case
Tanner can get his funds back Fraud. When Tanner was getting information over the hotel, Grano, the owner, stated that the motel netted $30,000 during the previous year and that it will net at least $45,000 for the next year. When Grano turns over the motel books, which had all the information of the motel, and is where Grano could have gotten the information of the numbers that he told Grano during negotiation. But, he committed an element of fraud which is silence because in the motel books it CLEARLY shows that Grano’s motel netted only $15,000 the previous. Based on the numbers, it shows that he clearly lied because if the number was clear shown and half the price when stated, it is considered to fraud. As well, during this one year period,

You May Also Find These Documents Helpful

  • Good Essays

    Dan purchased the home identified by Pat and the following week Pat moved in and began living in the house. During the first six months after moving in, Pat installed new carpeting, window coverings and a patio cover at a cost of $8,000. Pat also mailed to Dan a check for $1,000 each month, with a note enclosed with each payment. In each note, Pat asked Dan, "Tell me what a fair commission isI want to finalize our deal." Dan cashed the checks each month, but failed to respond to Pat's notes.…

    • 1017 Words
    • 5 Pages
    Good Essays
  • Powerful Essays

    Professional auditing standards discuss the three key “conditions” that are typically present when a financial fraud occurs and identify a lengthy list of “fraud risk factors.” Briefly explain the difference between a fraud “condition” and a “fraud risk factors,” and provide examples of each. What fraud conditions and fraud risk factors were apparently present in the Madoff case?…

    • 1261 Words
    • 6 Pages
    Powerful Essays
  • Satisfactory Essays

    Fraud Schemes Exercise

    • 258 Words
    • 1 Page

    Your friend Bill Jensen runs a variety store from which he sells everything from toys, to shaving cream to toasters. He has come to you and stated that he thinks one or more of his employees may be stealing cash from him through fake refunds in which there is really no refund, but they steal money. You asked him a number of questions and found that…

    • 258 Words
    • 1 Page
    Satisfactory Essays
  • Satisfactory Essays

    Crazy Eddie Fraud Case

    • 945 Words
    • 3 Pages

    Eddie Antar came from a low rent neighborhood in Brooklyn from a family of merchants. Growing up poor he had dreams and aspirations of becoming a household name. At the age of 20 years old, Antar opened up his very first store, Crazy Eddie. Crazy Eddie was an electronics store that specialized in low prices and a party atmosphere. The business did very well in its startup years and began to grow. Not long after Antar opened up his first store, he opened up another.…

    • 945 Words
    • 3 Pages
    Satisfactory Essays
  • Good Essays

    Bus 201 Spring 2009 Final

    • 6727 Words
    • 27 Pages

    Alpha Investments, Inc., offers to buy Beta Computer Corporation. On May 1, Beta gives Alpha copies of Beta 's financial statements for the previous year. The statements show an inventory of $1 million. On May 15, Beta discovers that the previous year 's inventory is overstated by $500,000, but does not inform Alpha. On June 1, Alpha, relying on the financial statements, buys Beta. On June 10, Alpha discovers the inventory overstatement. In this situation Alpha will succeed in a suit against Beta for fraud?…

    • 6727 Words
    • 27 Pages
    Good Essays
  • Powerful Essays

    Case Study for Fraud

    • 996 Words
    • 4 Pages

    The amount listed is the enrollment agreement was 10,020.00 which gives a difference of :…

    • 996 Words
    • 4 Pages
    Powerful Essays
  • Powerful Essays

    Fraud Case

    • 5971 Words
    • 24 Pages

    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.…

    • 5971 Words
    • 24 Pages
    Powerful Essays
  • Good Essays

    It is evident that a license is required to manage a professional boxer. The fact that Castillo was not licensed may make the contract voidable not only this, but Castillo ultimately failed to execute the writing requirement which is crucial in this case because, the contract falls under the Statue of Frauds. With the existence of contract laws it is crucial for the employer to be aware of all the laws and theories that surround a contract. In this case Jose Castillo who does not hold a management license, orally agreed to assume Barrera’s management and after Castillo helped Barrera settle a few lawsuits and financial problems Barrera stopped communicating with Castillo. With no surprise this case brings up a lot of issues and legal questions.…

    • 977 Words
    • 4 Pages
    Good Essays
  • Powerful Essays

    Paul Smith started Celador in 1983 as an independent television production company in the United Kingdom. Smith’s company developed and produced a variety of shows, including the game show “Who Wants To Be A Millionaire?” which aired in the U.K. in 1998. ‘Millionaire’ was an instant success.…

    • 1881 Words
    • 8 Pages
    Powerful Essays
  • Good Essays

    Fraud Triangle

    • 1080 Words
    • 5 Pages

    When evaluating this case using the three elements of the fraud triangle I have concluded that the potential pressures for Chris to commit fraud are greater than for others. The pressure is from Chris himself because he wants what others have or what he doesn’t have. This is due to the fact that Chris is young and impressionable may feel as though he doesn’t make enough money to obtain the material possession he desires or see others with. He may also be of the mindset that “he wants it now” it being the latest technology. This younger generation seems to feel entitlement instead of working and earn it. This may be due to their upbringing. Although my generation had things we worked for them and with our parents/families help we were able to obtain those things we wanted. We live in a technology savvy society so if you don’t have the last gadget then you may be looked upon as not having the means to acquire these things or not technologically savvy enough to want or have these items. Having the latest gadgets is a societal status symbol, the more you have…. the more you have meaning money. Chris may have friends that have the latest and greatest technology and he maybe envious of them and desire to acquire those things as well but not on his salary in his mind. So he must find a way to get either more money or a way to acquire the latest and the greatest in technology.…

    • 1080 Words
    • 5 Pages
    Good Essays
  • Good Essays

    Fraud

    • 1250 Words
    • 5 Pages

    The main suspects at this time are Ben Hill, Michelle Shelton, Candie Harris, Sam MacCarty, and Phil Ackers. The red flags in this case deal primarily with a lack in segregation of duties. These suspects all juggle multiple roles, some of which are not listed in their job description. Some of these suspects actively seek out additional responsibilities and place themselves in roles where they probably do not belong. Further rationalization for choosing these suspects is outlined below.…

    • 1250 Words
    • 5 Pages
    Good Essays
  • Good Essays

    Identify the fraud risk factors at Peregrine, especially control environment factors and the tone at the top, using the fraud triangle.…

    • 673 Words
    • 3 Pages
    Good Essays
  • Good Essays

    Fraud

    • 650 Words
    • 3 Pages

    Before answering the questions “what are my responsibilities for billing on a procedure that was not performed but asked to do so anyway”, Let me explain a little on Medical Billing Fraud? It is an attempt to fraudulently obtain payments from insurance carriers. Fraud in medical billing cost tax payers and medical providers millions of dollars annually (all-things-medical-billing.com). In 1996, HIPPA established the Health Care Fraud and Abuse Control Program (HCFAC) to help combat medical billing and health care fraud (pg.41). Fraud is an act done with the knowledge that you are doing wrong. Fraud is the intentional deception and misrepresentation that is to result in an unauthorized benefit. Abuse is the charging of services that are not medically necessary. False claim schemes are the most common type of health insurance fraud. The reasoning to do fraud is to obtain undeserved payments for claims. Some schemes to watch out for are: Billing for services, procedures and/or supplies that were not used. Unbundling of claims, this is billing separately for procedures that are covered by a single fee. Double billing, this is charging more than once for the same service.Upcoding, this is charging for more complex services than was performed.…

    • 650 Words
    • 3 Pages
    Good Essays
  • Powerful Essays

    Tyco Fraud

    • 1126 Words
    • 5 Pages

    In early 2006, a Commission filing over disclosures, accounting fraud and a FCPA injunctive action against Tyco was settled and led to the agreement of an overview of Tyco’s global organization. The investigation of the matter then led to the findings of the misconducts that Tyco is getting Charged for in this case.…

    • 1126 Words
    • 5 Pages
    Powerful Essays
  • Satisfactory Essays

    Fraud: Ultro and Enormo

    • 346 Words
    • 1 Page

    A.) The implication of this illegal act committed by Ultro’s management is committing fraud, so they are ultimately responsible for what happened. They sold automobiles that were fully depreciated on Ultro’s books to employees to generate an additional $50,000 in foreign currency which is illegal all with in itself. They also knew the Caribbean country in which they were operating out of has strict laws governing the transfer of funds to other countries, but an employee still went out of his/her way to smuggle $50,000 of foreign currency out of the Caribbean country so it could be deposited in one of Enormo’s bank accounts. Management did nothing to stop this employee from smuggling the money out of the country and most likely sanction the action. Enormo and Ultro’s management does not seem to care about these illegal actions and does not want to take any measures to resolve these issues in the future, even though they are fully responsible.…

    • 346 Words
    • 1 Page
    Satisfactory Essays