1. Fraud
Unlike most forms of fraud, financial statement fraud is a crime normally committed by senior level management. ... As Enron became highly leveraged, the management team searched for creative ways to improve the company's leverage ratios. ... Criminal charges were filed against Enron's management team for fraud. ... Again, these fraudulent activities were directed and approved by WorldCom's management team. ... In the third quarter of 2000, WorldCom, under direction of the management team, began capitalizing some of its" line costs. ...
- Word Count: 2557
- Approx Pages: 10
- Grade Level: Undergraduate