Posts Tagged ‘corruption’

Embezzlement is…

Monday, July 25th, 2011

Embezzlement is taking something for personal gain that you’re supposed to be looking after for someone else.

It often happens in small amounts over time, and can sometimes go undetected for years. This is why accounting is so important – and why we need watchdogs like the U.S. Securities and Exchange Commission (SEC) to growl at offenders.

Examples of embezzlement include someone in charge of a trust or an investment fund snagging some of the money in their care, or those at the head of a nonprofit tweaking the books so that everything looks normal… while dollars secretly slip out the back door.

Pay-to-Play is…

Friday, August 21st, 2009

Pay-t0-play is essentially the practice of exchanging money for access to or the privilege of participating in certain activities. Sometimes it is in reference to the actions of government officials or politicians to award benefits to a business or individual. For example, the owner of a road construction company might give a politician some money – maybe through campaign contributions or maybe just cash in a suitcase – to make sure his company gets a big government contract to build a new highway. There are all sorts of campaign finance and other laws to try and prevent this practice.