LUC Managing Risks Associated with Bribery and Fraud Discussion
I’m working on a social science writing question and need the explanation and answer to help me learn. However, in each of the three examples I gave you – the scandal was created by the leaders/founders of the organizations. The organizations were built on a premise of fraud. Theranos’ initial IPO was based on a lie that she had invented a blood test that could detect diseases and cancer; Madoff ran a ponzi scheme on which the entire business was founded; and, FTX, likewise, was an enormous ponzi from which the founder live a lavish lifestyle.In these cases, it was the founders/owners, not employees, that created the crimes. In fact, Madoff’s own son blew the whistle when he realized what was going on. How can we prevent fraud like this?
