Section 71 Recognition of Fraud (New Section)

• Library: Business Transitions 2009 Supp

While misrepresentations, embezzlement, and fraud have always been a part of the risk assessment to be made during a business transaction’s legal due diligence, recent high-profile examples of billion-dollar frauds have deservedly focused a harsh spotlight on the despicable conduct of several financial icons previously held in high esteem.

Bernard Madoff’s admitted $50 billion ponzi scheme fraud and
R. Allen Stanford’s alleged $5 billion ponzi scheme, among others, have severely shaken the general...