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According to the Collins English Dictionary 10th Edition fraud can be defined as: "deceit, trickery, sharp practice, or breach of confidence, perpetrated for profit or to gain some unfair or dishonest advantage".[1] In the broadest sense, a fraud is an intentional deception made for personal gain or to damage another individual; the related adjective is fraudulent. The specific legal definition varies by legal jurisdiction. Fraud is a crime, and also a civil law violation. Defrauding people or entities of money or valuables is a common purpose of fraud, but there have also been fraudulent "discoveries", e.g. in science, to gain prestige rather than immediate monetary gain
*As defined in Wikipedia

Friday, September 28, 2012

Goldman Sachs and Sergey Aleynikov

"Every revolution evaporates and leaves behind only the slime of a new bureaucracy. "
                                                                                                                     Franz Kafka

Sergey Aleynikov must feel like the main character in The Trial. Goldman Sachs could bring Aleynikov's nightmare to an end by picking up the phone and dismissing the accusations.  However, in the meantime, he must face another set of charges.  It is too bad that prosecutors do not show the same amount of enthusiasm for prosecuting the executives, like Lloyd Blankfein, who actually did something truly horrific by bringing down the world's financial system.  Such is Justice who now appears both blind and deaf.
 Lawyer for Ex-Goldman Programmer Criticizes Prosecutors and Firm
. . . .
In 2010, a jury convicted him and a judge sentenced him to an eight-year prison term. But a Federal Appeals Court reversed that conviction this year, finding that prosecutors misapplied the federal corporate-theft laws against him. Mr. Aleynikov was released from a jail after being incarcerated for about a year.
It is unusual for the federal government and state authorities to both charge an individual with crimes related to the same underlying set of facts. Under the double jeopardy clause of the Constitution, a person cannot be tried twice for the same offense. Under a legal doctrine called “dual sovereignty,” however, federal and state prosecutors can charge an individual for the same underlying offense under different laws.
Just three months after his release from federal prison, the Manhattan district attorney charged Mr. Aleynikov with the unlawful use of secret scientific material and duplication of computer-related material, both felonies under New York State law. If convicted, he could serve one to four years in prison.

Read the entire article here


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