Assignment is 8 to 10 pages application paper on the Corporation Ethics Scandal on Richard Whitney - 1938 who was the scion of a wealthy and socially elite family. His father was president of the North National Union Bank and his brother George Whitney, Jr., was a huge success at the Morgan Bank. Richard Whitney used these influential connections to the best advantage and he was named vice-president of the NYSE. After making losses, he began to borrow heavily. When the source of funds from relatives and friends dried up, he helped himself from the New York Stock Exchange Gratuity Fund. In addition to this, he also embezzled funds from other sources. His fraud was finally exposed by the comptroller for the NYSE and he was subsequently imprisoned.
The paper should be in two parts. Part 1 - Facts of the Case and Part II - Civil Trial. Below is the information that is needed. The paper should concise of 2 relevant, scholarly and current (within last 5 years), the material on the Facts of Case and Civil Trial information includes evidence of critical analysis using research, experience and factual evidence; evidence of complex problem solving shown; extends knowledge base past a simple book/article review; effectively organizes content to create smooth transitions that build to conclusions. Conclusions and recommendation should be logical and reasonable; combines research and analysis to form new insights
Part 1: Facts of the Case
Describe the company before the scandal.
Use some applicable financial metrics to show how the company was performing before the scandal.
Enhance the background and understanding of what transpired in this case.
Identify all individuals or firms who knew about, participated in, or condoned the behavior.
Describe the company before the scandal. Use some applicable financial metrics to show how the company was performing before the scandal.
Identify all individuals or firms who knew about, participated in, or condoned the behavior.
How was the scandal uncovered and by whom?
What did they do with the information they uncovered?
How did the company and your subject react?
Part Two: Civil Trial
Research your subject's civil trial.
Who were the victims of your subject's actions and how were they injured?
What claims were brought by the plaintiffs against the defendant(s)?
Did your subject enter into a settlement agreement or go to trial? If settlement, what was the final settlement, how much money did the plaintiffs receive, other agreements, etc.?
If your subject went to trial, what was the outcome? Do you feel it was fair? Justify your position.