StudentShare solutions
Got a tricky question? Receive an answer from students like you! Try us!

Essay example - BCCI and White Collar Crime

Only on StudentShare
Pages 6 (1506 words)
Bank of Credit and Commerce International (BCCI) was considered to be the major industrial bank that was set up in Pakistan in the year 1972. Agha H. Abedi taking capital from Sheikh Zayed bin Sultan, emir of Abu Dhabi founded BCCI with a mission to have mystic banking facility…

Extract of sample

But, success was not the only step for BCCI's fate. Price Waterhouse was asked to carry inquiry in March, 1991. It was 24th June, 1991 when they submitted the Sandstorm Report to Bank of England stating that BCCI had engaged in fraud case.
Main capital base to BCCI were virtual oil-rich Arab leaders who acted to be the investor but, in reality they were working as nominees. Bank since its beginning attracted people to deposit their funds by pretending that they have more capital which in reality was not true. It used to use the deposits in order to meet the expenses. Even it forced its own shareholders to participate in this drama. Major actions that resulted into frauds by BCCI were enlisted by New York District Attorney. According to them the important points are:
Middle East personalities included their names and funds to BCCI as an investor which in effect turned to be flaw because their funding was based on guaranteed no-risk return instead of actual sponsor at risk.
After getting the request from Bank of England, Price Waterhouse presented its report on BCCI known as Sandstorm Report. As per the report, BCCI committed several mistakes and did many unofficial activities that are out of one company's ethics. ...
Download paper
Not exactly what you need?

Related papers

White paper
The idea here is to gain acceptance and thus every sentence ought to be written with this in mind and carefully.…
2 pages (502 words)
White Privilege.Views About White Previlige.
It is visible in many examples that dominance of white skin over other races is an instinctive phenomenon and something nobody has to convey in words. …
2 pages (502 words)
White Collar Crimes.
White collar crimes are not as simple as robbery or homicide crimes. These usually involved elaborate methods aimed to conceal the fraudulent activities. As such, investigating such types of crimes requires the same high level thinking and critical analysis. …
2 pages (502 words)
Victims of Organizational Crime
Organizational crime is examined and prosecuted by the federal and state administrations. For most individuals, organizational crime is not observed as a crime at all, for the reason of its non-violent nature. Violent crime has an instant and apparent effect on its victims that raises the consideration of the public, whereas organizational crime repeatedly goes unnoticed or is observed as a…
3 pages (753 words)
Crime Drama
While featuring very different aspects of the crime drama genre, all these programs place a great deal of importance upon scenes of tension and anxiety; for example the latter regularly shows the female main character venturing into deserted factories, abandoned houses, or open fields in search of a killer: the setting of this action is typical of postmodern anxiety in fiction. …
12 pages (3012 words)
Pesticide Drift: A White-Collar Crime.
Many white-collar crimes are especially difficult to prosecute because the perpetrators use sophisticated means to conceal their activities through a series of complex transactions. The most common white-collar offenses include: antitrust violations, computer and internet fraud, credit card fraud, phone and telemarketing fraud, bankruptcy fraud, healthcare fraud, environmental law violations,…
9 pages (2259 words)