Confidence Games: If Two And Two Add Up To Five, Investors Are In Trouble

News Analysis: An Istanbul, Turkey, Currency Trader, of apparent British origins, is suspected of bilking his clients for more than 130 Million Pounds ($200 Million Dollars). Using various charades, he communicated to his unfortunate investors that he was not able to pay them back  their monies. Now, this apparent  British “Bernie Madoff” style Trader made … Read more

China and Cyprus Sign Antiquities Accord

News Analysis:  The damage to or removal of antiquities from a country should result in severe and swift punishment to the wrongdoers. The economic gain to the seller [thief] and satisfaction of the buyer should be much less compared to the punishment meted out after being arrested. Certainty of apprehension along with the secondary element … Read more

A Bank’s Worst Enemy May be Its Own Bankers

News Analysis:  Forensic Accounting should be an on-going process rather than an after-the-fact event. Since its goals are different than standard accounting, it may find irregularities [and those internally who propagate them], early on. Trust, But Verify. Reference:

Insider Information Skews Playing Field

News Analysis: “Insider information” skews the ‘playing field’ for honest investors who play be a country’s investment rules. It seems that, often,  the illegal gains attained by the perpetrator[s] surpass the punishment meted out. This paradigm leads to other miscreants plying their crafts, unfortunately. Generally, the certainty of getting caught, rather than the punishment, dissuades deviant … Read more

Bernard Madoff’s Bank Associates

News Analysis: It makes next to NO impression on bank employees to have their banks fined for illegalities they have committed. Imprisonment, for the crimes, has the opposite effect. Fines are merely “cosmetic” blemishes the banks endure, not they. Mr. Harry Markopolos, attempted, for several years,  to get the attention of regulators regarding potential fraud by … Read more