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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

Wednesday, October 24, 2012

Goldman Sachs Justice Alert: Ex-Goldman exec given 2 years for inside trades

4:39PM EDT October 24. 2012 - NEW YORK (AP) — A former Goldman Sachs and Procter & Gamble board member once widely respected worldwide for his business smarts was sentenced Wednesday to 2 years in prison for feeding inside information about board dealings with a billionaire hedge fund owner who was his friend.
Rajat Gupta, 63, of Westport, Conn., was sentenced by U.S. District Court Judge Jed Rakoff, who also ordered him to pay a $5 million fine. The Harvard-educated businessman long respected on Wall Street was one of the biggest catches yet for the federal government in its five-year crackdown on insider trading that has so far resulted in 69 convictions.
While not a "big fish" fried (lol) still a move in the right direction to send a message to all those who think they are personally "too big to fry" while working for or serving on the board of those "too big too fail" banks.

If only our government would get the "guts" to get serious about the "big fish" we certainly could have one hell of a fish fry.  Bring down those top executives, CEO's and Chairmen of the Boards and once and for all show the world that the US still stands for justice, where right is right and wrong is wrong and where the "wrong get punished".

Read the whole article from USA here


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