Question
Can someone please. Thanks Evaluating an Ethical Dilemma: Analyzing Management Incentives On December 5, 2019, the Securities and Exchange Commission (SEC) charged two top executives
Can someone please. Thanks
Evaluating an Ethical Dilemma: Analyzing Management Incentives
On December 5, 2019, the Securities and Exchange Commission (SEC) charged two top executives of Celadon Group, Inc an Indiana-based trucking company, for their participation in accounting fraud. The SEC alleged that they sought to conceal losses by engaging is a scheme to buy and sell trucks at inflated prices, in some cases double or triple their fair market value. As alleged in our complaint, these members of Celadons's C-Suite lied to its auditor and investors to try to conceal millions of dollars of overvalued trucks said Joel R Levin, Director of the SEC's Chicago Regional Office. The SEC will continue to pursue corporate officers who employs schemes to inflate financial statements and defraud inventors Source: sec.gov/news/press-release/2019-253)
Epilogue: On December 9,2019, Celadon Group,Inc..filed for bankruptcy and in March 2020, it auctioned off assets as part of the bankruptcy agreement.
Required:
- Describe the parties who were harmed or helped by his fraud.
- Explain how greed may have contributed to the fraud.
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