If it's too good to be true, don't touch it!
Article Abstract:
A group of con merchants from Nigeria has reportedly victimized thousands of small businesses in the US and the UK by offering its gullible victims the opportunity to make millions by participating in the laundering of ill-gotten wealth. This particular get-rich-quick scam typically begins with the sending of a letter that offers the recipient the opportunity to earn a 30% commission should thw business person be willing to help launder millions of dollars obtained illegally in Nigeria. This letter, which is purportedly from a shadowy group of Nigerian officials, promises a hefty commission should the business person assist them in setting up a trading corporation which could be used as a front for laundering the money. A request for several thousand dollars usually accompanies this letter. According to the UK police, some victims have lost as much as $250,000 by allowing themselves to be led on by the Nigerian syndicate whose money demands escalate as the scam progresses.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 1995
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Packing a seasonal Christmas punch
Article Abstract:
Park Food Group PLC and its Finance Dir Neil Alexander are profiled. Park built its original business on seasonal food sales but now they have begun to diversify. The original product was a Christmas hamper full of food which the patron purchased on weekly installments. The hampers are now sold in the retail market via agents, wholesale to stores, and to the gourmet market. Park acquired liquor and beverage importers and cold storage facilities in order to expand. The management reorganization involved in the acquisitions hurt Park's profits in 1988. Sales for 1988 were 82.1 million pounds sterling, the pre-tax profit was 2.28 million pound sterling.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 1988
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Dangerous liaisons
Article Abstract:
Issues concerning the importance of correct auditing are discussed, on the basis of the case of Queens Moat Houses. Particular attention is given to the auditing services appointed by the firm and to the unlawful earnings discovered as a result of applying the wrong accounting policies.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 2001
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