Reed Slatkin Fraud Case

reed instrument Slatkin dupery Case For my fraud shift study, I chose to do it oer Reed Slatkin for investiture fraud. He was considered to be the perpetrator of the largest Ponzi intrigue in the United States since that conducted by Charles Ponzi himself. Slatkin was natural in Detroit, MI and was an initial investor and co-founder of EarthLink. Slatkin was also an enact Scientology curate and long plume supporter of the group, as were more of his victims. Reed Slatkin acted as an investment advisor for over 15 yearsin melodic phrase affair and money management. He rakish ran the company from his garage in his former home in Santa Barbara, California. During the 15 summation years, he invested millions and millions of dollars in behalf of hundreds of investors. In the latter(prenominal) part of 1999, Mr. Slatkin was actually investigated by the Securities and Exchange Commission(SEC). Mr. Slatkin was actually in the process of liquidating a herd of his investments made in behalf by his investors. In reality, Mr. Slatkin solicited millions of dollars from investors a contradiction of a statementmade to the SEC. During this sentence period, many another(prenominal) investors wanted fall backs of property, tho were met with lack of response from Mr. Slatkin.

some of the investors brought lawsuits to recover their investments and others threatened to buck involuntary bankruptcy petitions against him, forcing him into bankruptcy. Mr. Slatkin state to both the investors and SEC that at that place were ample funds to re override all investors monies. He guide everyone to believe that it was the European authorities that were holding up the return of the investments. Mr. Slatkin filed bankruptcy in May 2001 and at the aforementioned(prenominal) time the U.S. Securities and Exchange Commissionshut down Slatkins design by filing an enforcement case and obtaining a temporary restraining collection freezing his remaining assets. The like day the FBI received inquisition warrants relating to Slatkin. He was accused of defrauding investors turn out of nearly $600 million. He was also...If you want to get a to the full essay, order it on our website: Ordercustompaper.com

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