Corporate Fraud – How Corporations And Big Companies Lie About Their Financial Condition

frCorporate fraud refers to large organizations that deceive their investors, analysts and auditors about the real financial condition of a corporation. Corporate fraud results not only in financial losses of the investors, but also creates great potential damage to the U.S. economy.

Such fraud may be accomplished through:

  • manipulation of share prices
  • control of financial datafraud
  • artificially inflated financial performance
  • false indicators
  • different valuation measurements

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Health Care Fraud: Sales Force Manipulation

In a recent article written by Bernard Vaughan and Jonathan Stempel entitled: U.S. sues Novartis, alleging kickbacks to pharmacies, Reuters reported that US government accuses Novartis Pharmaceuticals Corp. of paying kickbacks to pharmacies to switch kidney transplant patients from competitors’ drugs to its own and to oppose the use of a cheaper, generic immunosuppressant drug.

Since 2005 at least 20 pharmacies have got illicit payments from Novaris AG, a Swiss drug maker, to push up sales of its immunosuppressant drug Myfortic, said U.S. Attorney Preet Bharara.

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