More Real Estate fraud, this time from a bodybuilder investor.

Fraud

Fraud: In the broadest sense, a fraud is an intentional deception made for personal gain or to damage another individual. The specific legal definition varies by legal jurisdiction. Fraud is a crime, and is also a civil law violation.

Different kinds of fraudulent activities:

Bait and switch: is a form of fraud in which the party putting forth the fraud lures in customers by advertising a product or service at an unprofitably low price, then reveals to potential customers that the advertised good is not available but that a substitute is.

Embezzlement: is the act of dishonestly appropriating or secreting assets, usually financial in nature, by one or more individuals to whom such assets have been entrusted.[1] It is a kind of financial fraud. For instance, a clerk or cashier handling large sums of money can embezzle cash from his or her employer, a lawyer can embezzle funds from clients' trust accounts, a financial advisor can embezzle funds from investors, or a spouse can embezzle funds from his or her partner.

Tax avoidance: is the legal utilization of the tax regime to one's own advantage, to reduce the amount of tax that is payable by means that are within the law. By contrast tax evasion is the general term for efforts to not pay taxes by illegal means.

Identity theft: is a term used to refer to fraud that involves someone pretending to be someone else in order to steal money or get other benefits. The term is relatively new and is actually a misnomer, since it is not inherently possible to steal an identity, only to use it.

Sham marriage: is a union (marriage) motivated not so much by love but instead by a desire for political advantage or personal convenience.

Corruption in the local government

From The Miami Herald:  Broward County Commissioner Josephus Eggelletion Jr., School Board member Beverly Gallagher and former Miramar Commissioner Fitzroy Salesman were arrested Wednesday on a variety of charges including bribery, fraud and money laundering.

(Read more)

Domestic violence in Afghanistan (the place doesn't matter)

What's important is how do we fight it? A fist step is to elaborate a justification against it and a proper social treatment.

Don't lie

From Time Magazine:

Bank of America CEO Kenneth Lewis may be in for much more than a trip to the woodshed. Ever since Bank of America completed its deal to buy Merrill Lynch, questions have lingered about whether the chief executive was completely honest with shareholders about the state of Merrill — specifically about the year-end bonuses paid out to Merrill employees despite the investment bank's huge 2008 losses. Bank of America shareholders have already voted to remove Lewis from the post of chairman in part because losses at Merrill turned out to be worse than Lewis let on. But that has failed to put the issue to rest. Now, it looks likely that probes into statements about the Merrill deal made by Bank of America officials could lead to charges against Lewis.

FOOD, INC.

More about food, and it's not pretty.

Talking about death penalty

Check this link from the NYTimes.

Link to your Moral Issues in Business textbook

This is going to help: Moral Issues in Business Link. To the left hand side of the webpage, you have the chapters (1 & 2) then, check each of the tutorial exams, quizzes, etc. Play with it and have fun. I may use some of these questions for the quiz. Don't forget to bring your scantron sheets: 48TMS!

I'm leaving the post open in case you have questions.

Update: Unraveling the mystery

Mario Cuomo Subpoenas 5 Bank of America Directors.

More from Wall Street

Read this interesting article in the NYTimes. Rarely we find a person that takes a stand against the system:

Judge Rakoff refused to approve a $33 million deal that would have settled a lawsuit filed by the Securities and Exchange Commission against the Bank of America. The lawsuit alleged that the bank failed to adequately disclose the bonuses that were paid by Merrill before the merger, which was completed in January at regulators’ behest as Merrill foundered.

This is the retort from an executive by the name of Richard X Bove (where does this guy live?):

I’m having a difficult time understanding who was harmed here ... why is this company being put into court over a series of events that benefited the nation*, its economy, its financial system, the shareholders of Bank of America and the bank itself.
__________
*Deceiving the public benefits the nation?

Your 100-word comment assignment, HERE

When it comes to moral judgments, why is it important to justify your beliefs? What does it mean to support your judgements with "facts?" Illustrate your answer with a real life example.

Your 100-word comment should be thoughtful. Don't just post a comment of what you think without pondering a little bit what you want to say, even if you have to write down a little paragraph on a piece of paper first. Also, do not bring your religious beliefs to this early assignment. We'll address religious faith later in the course. Remember to sign your posts with your name as it appears in my list.

Link to your textbook "Moral Issues in Business"

This is the link to the texbook.

Click on the link above, go to the Textbook Webpage, see that on the left hand side you can scroll down the list of chapters. It would be a good idea if you did the essays questions and the quiz for Chapter 1 and 2.

Time to take a look at Wall Street again

At least its director thinks so.

Patriarchy and the abuse of women

The above documentary is produced by Clitoraid a non-profit organization. The message is pretty much on target: The tradition of Patriarchy.

Infibulation in Africa

Again, the discussion about whether the practice is wrong needs to address the facts to the matter, which I think in this case are more than obvious. Pretty sad and dramatic.

Sex slavery today

Following our discussion about the exploitation of women world-wide, this is another documentary about sex slavery, or forced prostitution. 

Child sex trade

Cheap food? High price

Here is a really good Time Mag. article : 

When the pig is slaughtered, at about 5 months of age, he'll become sausage or bacon that will sell cheap, feeding an American addiction to meat that has contributed to an obesity epidemic currently afflicting more than two-thirds of the population. And when the rains come, the excess fertilizer that coaxed so much corn from the ground will be washed into the Mississippi River and down into the Gulf of Mexico, where it will help kill fish for miles and miles around. That's the state of your bacon — circa 2009.

The evolution of morals