Nick’s Roast Beef Sandwich Shop Scandal

Posted by Chelsea Macchione. Earlier this year in Beverly Massachusetts, Nick’s Roast Beef, a family owned sandwich shop, was found guilty to tax evasion during the years of operation, 2009 to 2013. The sandwich shop, at this time, was an all-cash business and would understate their income by splitting up excess cash between the two …

Wilmington Trust and the Prosecution Strike a Deal

Posted by Shaiban Almarri. Wilmington Trust Corp. has agreed to pay $60 million to the government after facing charges relating to the bailout program of the federal bank. This agreement incorporates a civil forfeiture of $16 million and $44 million that the bank had paid to the Securities and Exchange Commission in an earlier but similar …

Forensic Accountants Assist in Fraud Prevention

Posted by Abdullah Aldahmash. As the article begins, “to survive in this age of austerity and fraud,” there is a requirement for a more quick-witted and more refined arrangement of accountants, prepared to offer experiences and answers for all methods of business. This incorporates not just representing legitimate direct of business and reinforcing inbuilt process …

Due Diligence Is the Best Defense

Posted by Monika Lipowska-Flis. In article “PWC Lawsuit Tests Whether Auditors Must Guarantee Against Fraud,” the trial will determine if the one of the big four companies will survive or vanish from the market. PricewaterhouseCoopers (PWC) is being sued by Federal Deposit Insurance Corp. for 2.5 billion in losses suffered from collapse of Colonial Bank. …

Qualcomm vs. Apple

Posted by Aliasger Mithaiwala. Qualcomm, a telecommunications company that designs and sells wireless telecommunications products and services, is suing Apple Inc. for patent infringement. Apple was originally the initiator in this entire legal conflict because they were the first to file a lawsuit against Qualcomm. Specifically, they filed an “antitrust suit against [them], arguing that …

Forensic Accountant Witness: Disqualified

Posted by Diego Henao. During vior dire, potential expert witnesses’ credibility and expertise is assessed to arrive at a decision if they are properly qualified to give their opinion in court. In the State of Utah, Judge Paul Parker has disqualified Gil Miller, a forensic accountant, from taking the stand as an expert witness for …

Accounting Group: Deloitte Hit with Cyber Attack

Due to today’s technology, we have advanced into an era where information, computing, and interaction can all be done with a click of a button. A plethora of tasks can now be completed within a matter of seconds. Though this thought may sound great at first, there can also be many negatives associated with it. …

United States v Buckner Brothers

Posted by Isabelle Roddy. Two brothers, Thomas and John Buckner, founded a defense contractor in Pittsburgh, PA, known as Ibis Tek LLC, specializing in the expansion and improvement of transparent armor and miscellaneous gadgets for warfare vehicles. Specifically, Ibis Tek supplies and provides the United States Department of Defense with transparent armor, advanced lighting, and …

Artificial Intelligence: A Legal Nightmare

Posted by Nicholas Cizin. Artificial intelligence has the power to transform the business world like no other invention. It is the ability for computers to think and learn for themselves, quite often better than humans. A great example of this is IBM’s Watson. Watson is famous for its time on Jeopardy, thinking, generating, and then …