The War Against Herbalife: Pyramid Scheme or Multi-level Marketing Master?

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The War Against Herbalife: Pyramid Scheme or Multi-level Marketing Master?

On Dec. 19, 2012, activist investor William Ackman publicly confirmed that he was “betting” against the stock of Herbalife because “the company operates like a pyramid scheme.” Ackman claimed in a 334-slide, three-hour presentation, “Herbalife is a pyramid scheme because, among other reasons, distributors earn more than 10 times as much from recruitment as they do by selling the company’s overpriced products to bona fide retail customers.” 

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It’s a Performance, Not a Conversation: Capitalizing on Media Attention

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It’s a Performance, Not a Conversation: Capitalizing on Media Attention

Fraud examiners are frequently asked to conduct interviews, pilfer through written and online data, and sometimes give expert testimony. They are rarely asked to give a short media performance. Although a performance is exactly what anti-fraud professionals need to do when working with the media, according to Katherine McLane, founding partner of The Mach 1 Group in Austin, Texas. “A good interview is never a conversation; it is a performance,” McLane said. “It takes time and skill and training to master the art.” 

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SSA Acting Commissioner: Fraudsters Beware

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SSA Acting Commissioner: Fraudsters Beware

“Our message to those who attempt to defraud Social Security is plain: We will find you, we will prosecute you, we will seek the maximum punishment under the law, and we will fight to restore the money you have stolen from the American people,” says the acting commissioner of the U.S. Social Security Administration (SSA), Carolyn W. Colvin, during the Tuesday morning General Session.

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How Corruption Facilitates Transnational Organized Crime

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How Corruption Facilitates Transnational Organized Crime

"Sixteen years of clean audits at FIFA shows that corruption is mostly invisible," said Paul O'Sullivan, CFE, senior consultant at Paul O’Sullivan & Associates. "These people don't need a receipt for their crimes." Like the FIFA scandal, corruption isn't always loud and it isn't always in your face. Corruption is calculated. "Corruption is a proverbial iceberg — it's not always visible," said O'Sullivan. 

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What to Do When Your Fraud Examination Turns Hostile

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What to Do When Your Fraud Examination Turns Hostile

Hostile or rude interviewees, passive aggressive tactics, unsavory characters. These are things a fraud examiner or auditor could face when conducting an investigation. Ed Stolle, CFE, CPA, CGFM, CFCI, Manager and Advisor at Federal Housing Finance Agency, knows these characters well and shared his own experiences during his session, "What to Do When Your Fraud Examination Turns Hostile."

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Caldwell Says U.S. Isn’t Global Corruption Police; Has to Cooperate with International Agencies

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Caldwell Says U.S. Isn’t Global Corruption Police; Has to Cooperate with International Agencies

“We don’t want to be the world’s global corruption police,” said Leslie R. Caldwell, assistant attorney general for the Criminal Division of the U.S. Department of Justice during the Monday opening General Session. “We can’t and we don’t want to be. … We are vigorously investigating international corruption, vigorously prosecuting organized crime … and we’re increasing our commitment everyday to international cooperation in our struggle to safeguard markets, our networks, our privacy and our citizens.”

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