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Shorting Sino
(Photo: Nathan VanderKlippe/ National Post) A scathing research report sent shares in TSX-listed company Sino-Forest plummeting more than 70% amid allegations of fraud, wiping out roughly $3 billion in...
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Sino-Forest execs on the defensive
Sino-Forest Corp.’s trading price is shown on an electronic display at the TSX in Toronto on Tuesday, June 7, 2011 (Photo: Norm Betts/Bloomberg/Getty) Sino-Forest management held a much anticipated...
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Nothing for money
Marianna and Willem Van Gogh at their home in south east Calgary. The Van Goghs say they were defrauded by Gerard Darmon (Photo: Andrew Querner) “If you’re an employee, you’re a slave,” Robin J....
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Catch and release
Former Nortel CEO Frank Dunn, accompanied by his wife Nancy, leave provincial court in Newmarket in 2008. There has yet to be a trial. (Photo: David Cooper/Toronto Star/GetStock) A warm spring day...
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Risk management
Last year the Canadian Anti-Fraud Centre received almost 50,000 complaints from Canadians who, combined, reported more than $50 million lost to a variety of cash-grabbing schemes. Many others aren’t...
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What’s he selling now?
(Illustration: Gluekit) Last April, Jesse Willms celebrated his 24th birthday in a private event room at a resort and casino just outside of Edmonton. He pulled up in a white stretch limo and emerged...
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Silvercorp Metals the latest Canadian company accused of fraud
Another Canadian commodity company, with operations in China, is being accused of fraud. Silvercorp Metals Inc. a Vancouver-based company that explores, develops and acquires high-grade silver in...
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Stem cell fraud
(Photo: Brandon Laufenberg/Getty) Stem cell science is pretty sexy. And as the saying goes, “sex sells.” And if something sells, someone is liable to make a buck off it, whether it’s right to do so or...
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How to ride the dragon
(Photo: ChinaFotoPress/Getty Images) On June 2, Gavin Graham was leaning over his desk, reading the news, when he came across an article that jolted him straight. The piece was about the now infamous...
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Blinding them with science
(Photo: CAP53/Getty) Be honest with your customers. It’s arguably the oldest and most fundamental ethical rule for business. It’s also the path to sustained profits: customers will come back if they...
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Why customers should understand your company’s business model
(Photo: Jan Stromme/Getty) I’ll put this on the table as a fundamental ethical principle for commerce: If your business model relies upon customers not understanding your business model, your business...
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Why we don’t feel bad about stealing from work
(Photo: Nikki Ormerod) Pity the psychopath. He (it’s almost always a he) has been taking a lot of heat lately, especially when it comes to corporate malfeasance. Bestselling books with titles like...
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Corporate fraudsters: Middle-aged and mostly male
Last year, KPMG compiled information on the frauds it investigated on behalf of clients. The sample consisted of nearly 350 cases across 69 countries involving misstated financial results, abuse of...
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CEO Poll: How well is Canada curbing fraud?
The post CEO Poll: How well is Canada curbing fraud? appeared first on Canadian Business.
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Does Canada have a white-collar crime problem?
(Photo: GSO Images) “This city, this province, this country has a reputation of being the best location to carry out white collar crime, corporate fraud, in the industrialized world.” These words were...
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Short selling and fraud: The case of Silvercorp Metals
(Illo: Daniel Stolle) The letter arrived at the Vancouver office of Ernst & Young on Aug. 31 in an envelope bearing $6 in U.S. postage. There was no return address and instead of salutations, it...
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Financial advice and fiduciary duties
Most of us rely on accredited professionals for a range of services. Doctors, lawyers, accountants and so on play a huge role in our lives, giving us advice and rendering services that we would be...
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Financial advice, competency, and consent
(Photo: Noel Hendrickson/Getty) I blogged recently on a California case about an insurance agent who was sentenced to jail for selling an Indexed Annuity—a complex investment instrument—to an elderly...
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The Barclays Libor scandal destroys trust
Barclays Bank CEO Bob Diamond. (Photo: Jerome Favre/Bloomberg/Getty Images) If it wasn’t clear in 2008 that something is fundamentally wrong with the operations of global finance, then surely it is...
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Social impact bonds and Goldman Sachs
The Goldman Sachs building in Manhattan (Photo: Youngking11/Wikimedia) There was a remarkable report out yesterday (August 2) concerning Goldman Sachs getting into the business of social impact bonds....
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