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Who Cheats and How?: Scams, Fraud and the Dark Side of the Corporate World
This book is a definitive account of Frauds and scams popping up in the Corporate World. A result of over six years of rigorous research, the work presents a deeper and comprehensive perspective on corporate scams and frauds. One would be surprised to know about companies that are trusted world over have agreed for multi-billion dollar settlements with the Department of Justice, as most of them have either been found guilty of misconduct or have themselves paid the settlement amounts to close further investigations.
How will it feel when we get to know that Banks, wherein we keep our hard earned savings, have been found guilty of fraudulent acts in some way or the other? The list is almost a who's who of the Banking community. The book will point out another very delicate and sensitive subject and that is the drugs we take. The book will talk in detail about Pharmaceutical Companies who have been found guilty of serious misdeeds.
Coming to India, where scandals involving Union Carbide, Satyam Computer, allocation of 2G spectrums involving several telecom companies, and allocation of Coal blocks to companies have made headlines. The book will discuss these and other corporate scandals including GMR-led Delhi Airports, LIC Housing, Bharat Earth Movers Ltd., among others.
How will it feel when we get to know that Banks, wherein we keep our hard earned savings, have been found guilty of fraudulent acts in some way or the other? The list is almost a who's who of the Banking community. The book will point out another very delicate and sensitive subject and that is the drugs we take. The book will talk in detail about Pharmaceutical Companies who have been found guilty of serious misdeeds.
Coming to India, where scandals involving Union Carbide, Satyam Computer, allocation of 2G spectrums involving several telecom companies, and allocation of Coal blocks to companies have made headlines. The book will discuss these and other corporate scandals including GMR-led Delhi Airports, LIC Housing, Bharat Earth Movers Ltd., among others.
340 pages, ebook
First published May 15, 2015
22 people are currently reading
116 people want to read
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Displaying 1 - 9 of 9 reviews
March 26, 2023
Good book for absolute beginners. But for people who are regular readers of any reputable
Newspapers mostly know about these things.
Newspapers mostly know about these things.
August 25, 2017
A compilation of the various kinds of frauds and scams various entities and individuals perpetuate and their modus operandi- banks, corporates, funds, brokerages, pharmaceutical firms (a separate chapter dedicated to pharma industry frauds and scams). The book is filled with examples of each kind of fraud. most of which are well-documented global cases. A lot of times the examples take centre stage as compared to the modus operandi, with the result that the book is found wanting in greater detail at many places. The best chapter undoubtedly is the one on various kinds of accounting frauds and constitutes almost a third of the book. Given my profession, it was also the one I found most practically useful.
The book is replete with so many examples of outrageous cheating and fraud that it is difficult not to feel an extreme sense of cynicism and bitterness towards the way corporates, or rather people who populate them, think and work. As a result, even when one spots an honest and inadvertant mistake, it is prima facie difficult to believe that such might be the case. At the end of the day, companies are nothing but their people and people are driven by incentives. This makes it easy to understand why companies do what they do but nevertheless no less easy to resignedly accept their misdeeds.
The book is replete with so many examples of outrageous cheating and fraud that it is difficult not to feel an extreme sense of cynicism and bitterness towards the way corporates, or rather people who populate them, think and work. As a result, even when one spots an honest and inadvertant mistake, it is prima facie difficult to believe that such might be the case. At the end of the day, companies are nothing but their people and people are driven by incentives. This makes it easy to understand why companies do what they do but nevertheless no less easy to resignedly accept their misdeeds.
September 6, 2020
Amazing book on financial skulduggery
This book was an eye opener to me as an investor as most retail investors pay attention to the publicly available balance sheets without considering the fact that the books may be "cooked". The fact that the author has won the best CFO in India award at one time in his career should help convince readers who are skeptical about starting this book. Truly an educative experience!!
This book was an eye opener to me as an investor as most retail investors pay attention to the publicly available balance sheets without considering the fact that the books may be "cooked". The fact that the author has won the best CFO in India award at one time in his career should help convince readers who are skeptical about starting this book. Truly an educative experience!!
August 6, 2023
Good knowledge shared
There are books that say how to do things, then there are books that say how not to do things, this book is in between that says what happens when you do things in a way you don't do it & how karma catches with your deeds. Very insightful & shows the ugly side of doing business & warns us with all the wrong deeds on how not to conduct business
There are books that say how to do things, then there are books that say how not to do things, this book is in between that says what happens when you do things in a way you don't do it & how karma catches with your deeds. Very insightful & shows the ugly side of doing business & warns us with all the wrong deeds on how not to conduct business
May 8, 2020
Good book on frauds
A mix of topics of fraud across domains like procurement investing health. Some good indian examples include Zenith Infotech and the rest. Worth reading
A mix of topics of fraud across domains like procurement investing health. Some good indian examples include Zenith Infotech and the rest. Worth reading
June 19, 2020
Overall packed with some very informative stuff but the author could have structured it better. I kind of felt like I am reading a nonstop series of blogs.
June 22, 2020
Good book, lots of information.
Could be structured better it's feels like you are reading a series of blogs and many times it feels redundant.
Could be structured better it's feels like you are reading a series of blogs and many times it feels redundant.
January 20, 2017
Tons of examples of companies or their managers cheating the govt or shareholders or its own employees.
But the book is very badly edited, and is more of a collection of a lot of examples without a real deep dive into any problem.
It's good only to see the number of companies and some quite reputed, to have cheated.
The quality of information is not that good.
Wouldnt recommend the book
But the book is very badly edited, and is more of a collection of a lot of examples without a real deep dive into any problem.
It's good only to see the number of companies and some quite reputed, to have cheated.
The quality of information is not that good.
Wouldnt recommend the book
October 30, 2016
Only rule in stock market for wealth creation is not to lose money at first place. So, identification and protection against the Corporate and accounting frauds is one of the important themes that every investor should research carefully before investing and this book is a primer on this subject.
Displaying 1 - 9 of 9 reviews