Control fraud occurs when a trusted person in a high position of responsibility in a company, corporation, or state subverts the organization and engages in extensive fraud for personal gain. Wikipeadia
Today between 2-4 pm NZ time Vinny Eastwood will be interviewing William “Bill” Black. I will be joining Vinny in the second hour to have a chance at quizzing Bill and I am mighty exited about the prospect!
For those of you who have never heard of William “Bill” Black you are in for a treat!
Bill Black is what you might call the original Banker Hunter!
Bill Black is an American lawyer, academic, author, and a former bank regulator and during the 90s he was responsible for jailing literally thousands of bankers involved in the savings and loans scandal that rocked the US banking world in the 90s.
He has recently joined the Sanders election campaign together with Robert Reich, the Nobel price winning economist in a sign that Sanders is serious about addressing the immense fraud committed by the global banking system and the corporate takeover that is the TPPA.
Bill Black wrote the book: The best way to rob a bank is to own one
William Black developed the concept of control fraud.
Here is a quote from Wikipedia on the subject:
The concept of control fraud is based on the observation that the CEO of a company is uniquely placed to remove the checks and balances on fraud within a company such as through the use of selective hiring and firing. These tactics can position the executive in a way that allows him or her to engage in accountancy fraud and embezzle money, hide shortfalls or otherwise defraud investors, shareholders, or the public at large. A control fraud will often obtain “investments that have no readily ascertainable market value”, and then shop for appraisers that will assign unrealistically high values and auditing firms that will bless the fraudulent accounting statements.
Some control frauds are reactive in the sense that they turn to fraud only after concluding that the business will fail. Opportunistic control frauds, by contrast, are attracted to a criminogenic environment where it is harder to detect fraud, e.g., as a result of deregulation.
For those of you following the revelations of the Panama papers and the descent of New Zealand into corruption and a tax haven shadow world this should be one of the most interesting interviews you could ever hope to listen too!
Here are the links to hook up too!
Listen LIVE at http://www.americanfreedomradio.com
SMART PHONE: http://tunein.com/radio/American-Freedom-Radio-s102922/
Like American Freedom Radio
Join AFR’s Group
Like Vinny Eastwood https://www.facebook.com/Vinny-Eastwood-205204582848164/…
Join Vinny Eastwood’s group