Answer To: FINC 211 Watch The Episode of American Greed “ All that Glitters”...
Soumi answered on Jun 07 2021
Running Head: ANALYZING THE FRAUD IN THE VIDEO 1
ANALYZING THE FRAUD IN THE VIDEO 2
ANALYZING THE FRAUD IN THE VIDEO— AMERICAN GREED “ALL THAT GLITTERS
Table of Contents
Introduction 3
Summary of the Events in the Episode 3
Fraud that took place 4
People involved in the Fraud, with Reason 4
Their Wrong doings that caused them harm 5
Analyzing from Financial Point of View, Impact of these Actions on Other Customers 6
Conclusion 6
Bibliography 8
Introduction
California's entrepreneur, James, and Pamela0020Fayed had their hard work changed the coin company into the trading empire of gold. They both were spending their lives in a beautiful way. However, when Monday, July 28, 2008, Pamela was brutally assassinated, and the murder took place in the room. This incident happened early in the morning and many people had listened to the scream of the victim.
After investigating, federal fraud and a false marriage are revealed. Fayed's wedding was going through a lot of difficulties, which eventually led to divorce. During the divorce proceedings, James and Pamela Fayed had a dispute over the division of ownership of Gold finger Companies.
Summary of the Events in the Episode
On Monday, July 28, 2008, James Fayed's wife Pamela Fayed was beaten to death in a parking space in 1875 Century Park East in Century City, California. This crime happened early in the morning at 6:30 am, and many people present on the spot had heard their screams (YouTube, 2019). The license plate of the car was detected with the help of a surveillance camera.
This license plate helped capture the suspect and recorded enough details to declare suspicious information. Federal officials seized $ 60k in cash, $ 24M in gold bullion and a credit card, which was allegedly used to pay for the rental car running away from the murder incident (YouTube, 2019).
Fraud that took place
On the same day, she was supposed to meet her husband, James Fayed in a legal meeting in her divorce that day, and in that statutory meeting, she was about to tell everyone about her husband that he is concealing some joint assets involved in e-Bullion. As of August 4, 2008, Fayed was in federal custody in the United States due to allegations of non-licensing money transactions through e-bullion (YouTube, 2019).
E-Bullion.com, a company run by James Fayed did a fraud of $ 20 million with a common people. According to the views of Webley and Samuels (2015), this...