...The Sandusky scandal affects both the internal and external stakeholders. Stakeholders are an array of people ranging from student, administration, the families of the student’s, alumni, even the surrounding community and its businesses. These stakeholders are important to remember because they are committed to representing your organization. When a sexual assault scandal hits, it reflects poorly on those committed to the institution as well as the institution. Penn State, and it students along with the administration are the ones who are impacted by the scandal. The external stakeholders we impacted also. The community as a whole suffers. In order to protect internal stakeholders such as information should be made available to them,...
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...In reviewing the sexual abuse scandal at Penn State, we find that assistant football coach and founder of The Second Mile (a charitable organization geared towards disadvantaged youth ) Jerry Sandusky is accused of child sexual abuse and related charges stemming from inappropriate behavior with male youth while in his care. In May of 1998, a report is made by the mother of a male child to University Police that Sandusky had showered with her son during a visit to the university campus. An investigation into an allegation of misconduct of Sandusky by the University failed to yield evidence of a crime and was closed. The University Police detective issued Sandusky a reprimanding, advising him to refrain from showing with any other children. was not forthcoming as brought out later in the investigation and knowledge of prior similar misconduct was dismissed by officials. Further, as stated in the grand jury report as reported by CNN, “Psychologist Alycia Chambers tells Penn State police that Sandusky...
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...The Jerry Sandusky scandal at the University of Pennsylvania State affected multiple organizational functions such as management, marketing, the alumni, the faculty, human resources, and the students. To begin with, the board of trustees was required to explain why they employed a pedophile for three decades, and why Sandusky was permitted to use university facilities to facilitate the molestation of young boys even after his retirement as a football coach (Crandall, Parnell, Spillan, 2014). Furthermore, the university negotiated multiple settlements resulting in millions spent without substantiating the veracity of the victim's claims, which financially affected every aspect of Penn State University's organizational functions (Hobson, 2017). Additionally, top members of the university were fired or forced to resign from their positions due to evidence those members suppressed Sandusky's actions for several years. Consequently, the scandal affected the marketing of the Penn State football team, since they were banned from bowl game appearances and the university was required to pay the National Collegiate Athletic Association (NCAA) 60 million dollars in fines...
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...The Jerry Sandusky scandal is about the allegations that were brought upon a onetime local hero committing sex crimes to the youth. Sandusky once played for the Penn State University football team and is a retired assistant coach from this institution. In the year of 1977, he began a non-profit organization, The Second Mile, which was created to serve the underprivileged youth of Pennsylvania. By the end of year 2009, he had molested 10 young boys through his non-profit organization; these boys were singled out for sexual advances between the years 1994 and 2009. In November of 2011, Sandusky was charged with 52 counts of child molestation (IBTimes, 2016). The first allegation came from a high school boy in the year of 2008, stating that he...
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...The Penn State scandal over the internet gave similar testimonies as to what took place all those years on the Pennsylvania campus. It involved Jerry Sandusky and his child molestation behavior. However, one article focuses on just how involved Joe Paterno, the head football coach, was with the information that he knew about but chose to conceal. An investigation uncovered that Jerry Sandusky, Paterno’s assistant coach had sexually assaulted ten young boys (Belson, 2012). Louis Freeh was a former federal judge and director of the FBI who was involved in the investigation. His report, according to Belson (2012), pointed out that the senior officials at the school turned a blind’s eye toward the welfare of children. Their silence attributed to...
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...The Penn State University scandal was about an authority figure committing child sex abuse. Jerry Sandusky was a former assistant football coach for Penn State and charged with multiple counts of sexual abuse against children. He was convicted of 45 counts of sexual predator against children. Sandusky used his charity, The Second Mile, to select his victims. These illegal actions were committed between 1994 and 2009. There were other Penn State University officials implicated in legal, moral and ethical responsibilities for not reporting the crimes to the University’s Board of Trustees. Those included in the scandal for covering up the actions of Sandusky were university president Graham Spanier, athletic director Tim Curley, vice president...
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...Apart from the everyday economic, political and environmental issues that are shown in the television and discussed in the newspapers is another problem that is sickening— like a social bug that affects everybody— child sexual abuse. Child sexual abuse is getting more rampant these days and it does not happen overnight. It is a gradual process like a predator hunting for a prey. And this makes us think, why is it not identified sooner? The Jerry Sandusky scandal in 2011, a high profile case with 40 counts of child sexual abuse against boys, have ignited a curiosity about the sexual grooming behaviors of such offenders (Winters and Jeglic 1). Child sexual abuse is an ongoing problem in the community that could lead to adverse and unfavorable...
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...that there were actually more cons than pros. * * As mentioned in the report LIBOR has been the catalyst for fraud and unfair play in the past years. This being said I cannot see this reform in LIBOR go the right way for either party. The FED might have already lost the trust of many people around the world with the scandals of late that have taken place. Many people were hurt when they took out loans and LIBOR was artificially high. However, when LIBOR was artificially low people paid less than they should have. This is a small example on the controversy of whether or not LIBOR should be reformed or completely thrown out the window. * * LIBOR is a very important index, which serves as a benchmark for derivatives. Being the most widely used interested rate in the world, it is not easy to just throw it out the window, as many people who were on the brunt of the scandal would wish. * * I believe that LIBOR is not as risk-free as we think it is. I believe that the scandals that were taken place proved that. Many people lost their savings and not only were the savings lost, but the banks that were the cause of the scandal were stealing it. This, I believe speaks for itself to answer the question if LIBOR is as risk-free as we think it is. I believe we were led to believe that is was a fixed fair rate, however we have seen that it can be manipulated and artificially fixed in ways in which we can lose our money. This is a big reason why I believe...
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...scandalous and creates wide seethe and uproar from the public who are the ultimate victims of these scandals. For many reformers and speakers it may take ages to bring a matter of public concern in front of people, which when scandalized became notoriously famous without any help. For example wiki leaks had generated mass curiosity around the world about the facts and events which were otherwise completely obscure and esoteric to general public. With increased freedom of the forth estate everything is out in the open ,all political scandals ,social scandals and even financial scandals are watched ,scrutinized and are brought to justice. In the 21st centaury where social networking has dissolved all the known physical boundaries, a scandal of one country is a popular talk of another continent, people discuss ,debate and provide solution to the problem which arose because of the so called scandal, which we can never imagine happening half a century ago. The Bernie Madoffs in famous embezzlement scandal has created waves of dissatisfaction among the masses, and demanded higher level of probe and investigation in the matter. The Italian prime minister’s sex scandal has stumped the world and raised questions about the moral conduct about the leader. No reformer or speakers could have generated such wide spread awareness about a issue or a problem within the society .Thus scandals play a major roles in generating general awareness and finding root cause for a problem ,which...
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...Mr. May APLAC December 16 2012 Jack Abramoff Corruption in governments inspires frantic media coverage and people to lose faith in politics. The United States has a long history of these scandals that has initiated some concern about the way the government is run. Jack Abramoff, a once powerful lobbyist, was recently involved in one of the largest scandals in Washington. Abramoff rose from, generally, nothing to becoming America’s most notorious lobbyist. When scandal ultimately cast him down, Abramoff was sentenced to four years in federal prison for fraud, tax evasion, and conspiracy. While serving his term in jail, he had received vile and harsh insults that depicted him as “scum” and “evil.” Now released from the penitentiary, Abramoff is the author of the novel Capitol Punishment. By writing this book, he tries to expose the truth about the broken the U.S. Government system really is but also justify his actions and hope to redeem little pieces of his honor. Using clever diction, syntax, and numerous appeals to pathos, Jack Abramoff attempts to repent for his actions and gain redemption. Abramoff’s diction allows for the audience to view his actions in an alternative more positive direction, rather than maliciously and with anger. The first few chapters of the book describe his childhood and formative years. His conservative principles and his calculating self brought him early spotlight and success in the political realm. Abramoff, for about the first half of his...
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...leave room for interpretations and the standards never change, which give the impression that there cannot be many, if any, grey area’s which would allow for human judgment to take place. Actually nothing can be further from the truth and as I grew within the army I began to see a natural competition and even a division among the different services in the areas of moral and ethical standards, although all of us fight the same fight there is still a recruiting battle that exist to find, sign and train the best people possible from the civilian ranks and anytime you have that element ,it will cause potential members to “choose sides”. Each of our services has suffered through many different scandals over ethical dilemmas. The Navy in 1991 suffered the infamous “Tailhook Scandal” where Lt. Rebecca Hansen, a trainee helicopter pilot charged that her failing grades were in direct retaliation for her bringing charges against a flight instructor, and later when Gulf War Hero and then Vice Chief of Naval Operations, Admiral Stanley Arthur, ruled against her, she then reported the incident to Senator David Durenberger of Minnesota who in turn as the New York Times, Goodman, W. (1996) reported “blocked Commander Robert E. Strumpf’s appointment to the Commander of the Navy in the Pacific”, which is the largest operational...
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...The issue is about scandals and focusing attention on problems. The statement about whether scandals are more useful than speakers or reformers in focusing attention on problems is a complex one. Scandals have both a good side and a bad side in the process of revealing problems. And speakers and reformers are irreplaceable by scandals. On the one hand, scandals are useful to attract the public attention to the seriousness of the problem such as corruption, food safety and murder which is hard to be tackled by speaker and reformer in China. Scandals, which reflect the ugliness of human nature, provide a valuable clue to trace back to the source of the problems. Take an example from China to illustrate this point, Zhengfu Lei, whose sex media was leaked out from the internet firstly, was soon caught with discovery of corruption. Surprisingly, He was considered to be a decent official in the past years. It can be seen the power of scandal in this example. Corruption is ubiquitous in the world, and laws cannot bring the criminals to justice easily and effectively without the help of scandals. Even if speakers and reformers racked their minds, it cannot rival a small story of scandals. On the other hand, scandals will also move the public attention from the real matter itself to something largely irrelevant. Sometimes people are more interesting in the scandals than tackling problems when the problem is not so big or it doesn’t have detrimental to their interests. For example...
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...invented the trading of communications, power, and weather securities. It dominated the trading and instead of being successful, it became the largest financial scandal in history as a symbol of well-planned corporate fraud. Enron created the phony California electricity crisis. There was never a shortage of power in California. Phone recordings between Enron traders and California power plant operators reveal the traders asking plant managers to "get a little creative" in shutting down plants for "repairs." About 30 to 50 percent of California's energy plants shut down as suggested by the traders as Enron drove the price of electricity nine times higher. By November 2001, after a series of scandals associated with their accounting practices, Enron stood at the edge of the largest bankruptcy in history. Enron was thought to be a blue chip stock but there bankruptcy caused a terrible event in the financial world. The executives at Enron were indicted on different charges and were sent to prison. Employees and stockholders lost billions of dollars, while the lawsuits provided very little money in return. Because of this scandal, new regulations were developed to improve the reliability of the financial reporting and require the accounting firms to be independent of their clients. The regulations should prevent the scandal experienced with...
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...Memo of law Question/Issue Presented What evidence can be found during a legal discovery and how does this affect the record-keeping policy of a business organization? Applicable Law and Ethical Standards Newby v. Enron Corp. , 2002 U.S. Dist. LEXIS 28397 (S.D. Tex. May 1, 2002) Newby v. Enron Corp. (In re Enron Cor... , 2003 U.S. Dist. LEXIS 1668, Fed. Sec. L. Rep. (CCH) P92404 (S.D. Tex. Jan. 28, 2003) United States v. Arthur Andersen LLP , 2002 U.S. Dist. LEXIS 26870 (S.D. Tex. May 24, 2002) 18 USCS § 1512 Discussion/Analysis (of Law and Facts) During a legal discovery which includes the procedures of Deposition, Interrogatories and Production of Documents there can be different evidence found depending on the area of work the business organization is involved in. An example could be that a company tried to create false documents with the intent to seem like a good investment or to avoid paying taxes. During a deposition evidence can be found that people questioned tell conflicting stories. It is crucial to be able to deliver the right documents requested during a discovery. Therefore, it is important to have an organized record-keeping policy for any organization. Furthermore, a business should keep its records as correct as possible and not be tempted to give in to fraud, changing documents or destroying important documents. A company should follow the law to keep the required documents. It would be a crime to hide, destroy and/or withhold subpoenaed...
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...Final Paper: Case Study of WorldCom Financial Statement Fraud Introduction This paper will discuss the financial statement fraud committed by WorldCom by examining what led up to the fraud, who committed it and why, and the impact it caused on various stakeholders and the economy. WorldCom applied aggressive and undisclosed accounting tactics to provide financial statements that reflected a $10 billion profit for the years 2000 and 2001, rather than the actual combined loss of $73.7 billion that occurred (Romar, 2006). Opportunity, pressure, and rationalization were all present in this severe example of financial statement fraud which had a devastating impact on stakeholders globally. Basis for Understanding Financial Statement Fraud Prior to taking a deep dive into this specific example, it is important to first understand what constitutes financial statement fraud. Financial statement fraud can be defined as “deliberate misstatements or omissions of amounts or disclosures of financial statements to deceive financial statement users, particularly investors and creditors” (Wells, 2011, p. 299). Financial statement frauds can be broken down into five distinct categories: fictitious revenues, improper asset valuations, concealed liabilities and expenses, timing differences, and improper disclosures” (Wells, 2011, p. 292). The History of WorldCom “WorldCom began in Mississippi as a small provider of long distance telephone services” (Lyke, 2002). However, due to deregulation...
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