"Publicly held companies, whether they make
turbines or tiramisu, are programmed to maximize efficiency and increase sales
every quarter - no matter what. Inevitably this leads to cutting corners." -
"The current accounting standards give those
preparing financial statements great latitude and the tremendous use of
judgement in coming up with numbers. That latitude and judgement can be used
very handily to misrepresent the information provided to investors." - Lynn
Turner, former chief accountant Securities and Exchange Commission
1974 to 1976
Albert John Dunlap
engineers a massive accounting fraud at Nitec, a paper-mill company in Niagara
Falls, New York.
1996 "Chainsaw Al" Dunlap is
hired to resurrect Sunbeam.
"Chainsaw Al" arranges a
"massive financial fraud" eventually paying a $500,000 SEC civil fine and is
barred from serving as an officer or director of a public company.
Kenneth Lee Lay
replaces Richard Kinder as
head of Enron.
Kenneth Lee Lay
is convicted in May 2006 of conspiracy, securities fraud,
wire fraud and making false
July 30, 2002 Sarbanes-Oxley Act
The US Labor Department dismisses 841 cases out of 1,273 complaints
filed while ruling in favor of corporate whistleblowers only 17 times shortly
Many of the were based "on the technicality that workers at
corporate subsidiaries aren't covered" by the Sarbanes-Oxley Act
2004 Martin Grass, CEO of Rite Aid is sentenced to 8 years in
prison for his role in a massive accounting fraud at the drugstore chain his
father co-founded. Five other executives are also found quilty.
2005 Adelphia CEO John J. Rigas is
convicted of bank, wire and securities fraud and is sentenced to 15 years in
Timothy J. Rigas and Michael J. Rigas, his sons, as
well as Peter Venetis, his son-in-law, and Michael Mulcahey are also charged.
They concealed $2.3 billion in liabilities from corporate investors and
the three Rigases had taken $3.1 billion in loans that were not recorded on the
Scott D. Sullivan, an
American Certified Public Accountant and the former CFO, Treasurer, and
Secretary of WorldCom, engineered WorldCom's $11-billion accounting fraud.
Scott Sullivan is sentenced to five years in prison and agrees to
testify against WorldCom Incorporated CEO Bernard J. Ebbers who received 25
years for his role in the $11-billion accounting fraud and subsequent $180
billion dollar loss to investors.
L. Dennis Kozlowski of Tyco International
Ltd. received a sentence of eight and one-third to 25 years in prison
for misappropriation of Tyco's corporate
funds, grand larceny for
$150 million in unauthorized bonuses and fraud against the company shareholders
for an amount of more than $400 million.
Richard M. Scrushy is formely charged with fraud,
conspiracy, and making false
statements in a $2.7 billion accounting fraud.
After 21 days of
deliberation, he is acquitted.
"I sat in that courtroom for six months,
and I did everything possible to advocate for his cause. Scrushy promised me a
lot more than what I got." - Audrey Lewis
Audrey Lewis received $10,000
from Richard M. Scrushy through the Lewis Group, a public relations firm, and
another $1,000 to help buy a computer.
Enron Corporation CEO Jeffrey K. Skilling is sentenced to 24 years and 4 months
in prison for conspiracy, insider
trading, making false statements to auditors and
Sanjay Kumar Chairman and CEO of Computer Associates
International is sentenced to 12 years in prison and fined $8 million after
pleading quilty to leading a $2.2 billion accounting fraud at the software
2007 Richard M. Scrushy is later found
guilty of bribery, conspiracy and mail
fraud in a conspiracy trial with co-defendent Alabama Govenor Don Siegelman in
a different case.
Richard M. Scrushy settles other charges with the SEC
over the $2.7 billion accounting fraud and agrees to pay the SEC $81 million
before settling into his new trade as a television preacher in Birmingham,
Walter A. Forbes, CEO of CUC International which merged
with HFC Incorporated to form Cendant, is convicted of securities fraud
and two counts of making false statements. Walter A. Forbes is sentenced to 12
years 7 months and must pay $3.275 billion in restitution.
Nacchio, CEO of Qwest Communications International Inc., is sentenced to
6 years in prison for insider
trading based on knowledge of improper accounting practices.
The stock of Qwest Communications International Inc. plunges
from $60 per share to $2 per share when accounting irregularities came to
Joseph Nacchio claims his conviction was based on his company's
refusal to coöperate
with NSA requests to spy on its customers. This seems likely.
version of events matches reporting by USA Today in 2006, in which the paper
noted that Qwest was the lone holdout from the government's warrantless
surveillance operations and that defiance "might affect its ability to get
future classified work with the government."
Nacchio is barred from
using any evidence of potential retaliation in his defense, given that the
material was considered classified, and his judge refused requests to allow the
evidence in trial.
Reports from the Washington Post on evidence
that has been made public on his case since that time seem consistent with the
New Department of Labor Rule Gives Whistleblowing Employees
Greater Protections Against Retaliation (do not believe
This web site is not a commercial web site and
is presented for educational
This website defines a
new perspective with which to engage reality to which its author adheres. The
author feels that the falsification of reality outside personal experience has
forged a populace unable to discern propaganda from
reality and that this has been done purposefully by an international
corporate cartel through their agents who wish to foist a corrupt version of
reality on the human race. Religious intolerance occurs
when any group refuses to tolerate religious practices, religious beliefs or
persons due to their religious ideology. This web site marks the founding of a
system of philosophy named The Truth of the Way of the Lumière Infinie -
a rational gnostic mystery religion based on reason which requires no leap of
faith, accepts no tithes, has no supreme leader, no church buildings and in
which each and every individual is encouraged to develop a personal relation
with the Creator and Sustainer through the pursuit of the knowledge of reality
in the hope of curing the spiritual corruption that has enveloped the human
spirit. The tenets of The Truth of the Way of the Lumière Infinie are
spelled out in detail on this web site by the author. Violent acts against
individuals due to their religious beliefs in America is considered a "hate
This web site in no way condones violence. To the contrary the
intent here is to reduce the violence that is already occurring due to the
international corporate cartels
desire to control the human
race. The international corporate cartel already controls the world
economic system, corporate media worldwide, the global industrial military
entertainment complex and is responsible for the collapse of morals, the
elevation of self-centered behavior and the destruction of global ecosystems.
Civilization is based on coöperation. Coöperation does not occur at
the point of a
American social mores and values have declined precipitously
over the last century as the corrupt international cartel has garnered more and
more power. This power rests in the ability to deceive the populace in general
through corporate media by pressing emotional buttons which have been
preprogrammed into the population through prior mass media psychological
operations. The results have been the destruction of the family and the
destruction of social structures that do not adhere to the corrupt
international elites vision of a perfect
world. Through distraction and coercion the direction of thought of the
bulk of the population has been directed toward solutions proposed by the
corrupt international elite that further consolidates their power and which
further their purposes.
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site are the views and opinions of individual human men and women that, through
their writings, showed the capacity for intelligent, reasonable, rational,
insightful and unpopular thought. All factual information presented on this web
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presented in print media which may or may not have originally presented the
facts truthfully. Opinion and thoughts have been adapted, edited, corrected,
redacted, combined, added to, re-edited and re-corrected as nearly all opinion
and thought has been throughout time but has been done so in the spirit of the
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clearer and relevant to the reader in the present time.
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