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Fraud in sentence

451 examples of Fraud in a sentence

He was convicted of mortgage and credit card fraud, and he will be released from Wormwood Scrubs jail in London in 2012.
He impressed in the private sector, developing chemical applications for the oil industry while simultaneously running a worldwide bank and credit card fraud operation that was worth millions until his arrest in 2008.
Last year saw 997 billion dollars in corporate fraud alone in the United States.
They conducted a credit card fraud that netted them over 10 billion dollars.
Because while computers can learn to detect and identify fraud based on patterns, they can't learn to do that based on patterns they've never seen before, and organized crime has a lot in common with this audience: brilliant people, relentlessly resourceful, entrepreneurial spirit — (Laughter) — and one huge and important difference: purpose.
I don't want to get there and then still feel like a fraud.
If I conducted one study and I withheld half of the data points from that one study, you would rightly accuse me, essentially, of research fraud.
The end result was six ministers resigned, the first speaker of the house in 300 years was forced to resign, a new government was elected on a mandate of transparency, 120 MPs stepped down at that election, and so far, four MPs and two lords have done jail time for fraud.
The $100 million American Medicare fraud, the supply of weapons to wars around the world including those in Eastern Europe in the early '90s.
And the answer to that is that we have to stop epidemics of control fraud.
Control fraud is what happens when the people who control, typically a CEO, a seemingly legitimate entity, use it as a weapon to defraud.
They also follow in finance a particular strategy, because the weapon of choice in finance is accounting, and there is a recipe for accounting control fraud, and how it occurs.
And it also turns out to be precisely what could have stopped this crisis, the one that cost us 11 trillion dollars just in the household sector, that cost us 10 million jobs, was the easiest financial crisis by far to have avoided completely if we had simply learned the lessons of epidemics of control fraud, particularly using this recipe.
They were obvious that what was going on was an epidemic of accounting control fraud building up.
Let's take appraisal fraud first.
In 2000, the year 2000, that is over a year before Enron fails, by the way, the honest appraisers got together a formal petition begging the federal government to act, and the industry to act, to stop this epidemic of appraisal fraud.
Now, we've seen this before in the savings and loan debacle, and we know that this kind of fraud can only originate from the lenders, and that no honest lender would ever inflate the appraisal, because it's the great protection against loss.
This was an epidemic of accounting control fraud led by the banks.
The savings and loan debacle is basically the early 1980s through 1993, and in the midst of fighting that wave of accounting control fraud, in 1990, we found that a second front of fraud was being started.
And this is despite a warning from the industry's own antifraud experts that said that these loans were an open invitation to fraudsters, and that they had a fraud incidence of 90 percent, nine zero.
This came from the lenders because of the fraud recipe.
What happened to appraisal fraud?
In other words, both forms of fraud became absolutely endemic and normal, and this is what drove the bubble.
Remember, there's no fraud exorcist.
So the fraud is going to progress through the entire system, hyperinflate the bubble, produce a disaster.
Well, in the savings and loan debacle, our agency that regulated savings and loans, OTS, made over 30,000 criminal referrals, produced over 1,000 felony convictions just in cases designated as major, and that understates the degree of prioritization, because we worked with the FBI to create the list of the top 100 fraud schemes, the absolute worst of the worst, nationwide.
It's the greatest success against elite white collar criminals ever, and it was because of this understanding of control fraud and the accounting control fraud mechanism.
It had created a supposed definition of mortgage fraud, in which, guess what, its members are always the victim and never the perpetrators.
We need to change the perverse incentive structures that produce these recurrent epidemics of accounting control fraud that are driving our crises.
And they largely succeeded, which is how the fraud became endemic.
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