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NCJ Number: 147951 Add to Shopping cart Find in a Library
Title: ANATOMY OF A SCAM: A CASE STUDY OF A PLANNED BANKRUPTCY BY ORGANIZED CRIME
Author(s): E J De Franco
Date Published: 1973
Page Count: 87
Sponsoring Agency: National Institute of Justice/
Rockville, MD 20849
NCJRS Photocopy Services
Rockville, MD 20849-6000
US Dept of Justice
Grant Number: 71-143-PO
Sale Source: National Institute of Justice/
NCJRS paper reproduction
Box 6000, Dept F
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United States of America

NCJRS Photocopy Services
Box 6000
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United States of America
Document: PDF
Type: Survey
Format: Document
Language: English
Country: United States of America
Annotation: This report explains the mechanics of a specific scam operation by describing how organized crime infiltrated a business, the Murray Packing Company, late in 1960 to produce a planned bankruptcy.
Abstract: The discussion emphasizes that organized crime increasingly appears to be using planned bankruptcy as a fast way to make a large amount of money. The findings indicate the need for business to receive education about the risks of this scam. This scam began when the owners of the Murray Packing Company were short of working capital and borrowed $8,500 at an interest rate of 1 percent per week. As the debt increased, the lender demanded that the Murray salesperson who had arranged the loan be promoted. He ultimately became the company president and manipulated the company into a series of business transactions that led to a bankruptcy and prosecution for bankruptcy fraud. Footnotes, appended indictment and definitions of bankruptcy, and 25 references
Main Term(s): Criminology
Index Term(s): Bankruptcy fraud; Criminal infiltration of business; Fraud investigations; Organized crime
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http://www.ncjrs.gov/App/publications/abstract.aspx?ID=147951

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