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When I worked at a Fortune 50 I was in a group reassigning revenues to offshore entities. It was just a matter of assigning a team to an offshore manager (well,
by MrTonyD 8y ago
When I worked at a Fortune 50 I was in a group reassigning revenues to offshore entities. It was just a matter of assigning a team to an offshore manager (well, any one of the big 3 accounting firms then took our work and did whatever paperwork might have been required from there. All the major accounting firms were making millions from us so they were glad to help.) An executive explained to me that all the senior executives got a variety of classes of stock in offshore companies, which were essentially worthless on paper. Then offshore monies could be transferred to increase the value of any of the many classes of stock which were issued - allowing them to transfer any amount to any executive. And as long as the public stockholders were making profit, nobody complained, and money could be freely hidden and transferred offshore using a wide variety of techniques. At the time, this was considered standard practice by all the major accounting firms and all the C-suites at major software companies. We live in a society which is corrupt beyond the understanding of most people. I personally saw billions transferred offshore and hidden - think about that when Bill Gates says that he is giving it all away.
- dboreham 8y agoThey can't run for public office though. Oh..wait..
- bjelkeman-again 8y agoWhich company was it?
- MaysonL 8y agoReminds me of a consulting company I did some work for a few decades ago. Reportedly, they had many engineers filling out two 40hr/wk timecards: one for defense contracts, the other for non-government corporate clients.
- samfriedman 8y agoFYI for anyone else in the US who reads this and is/has been in a similar situation: the DOD hotline for reporting fraud & abuse of contracts is +1-800-424-9098. http://dodig.mil/hotline http://dodig.mil/hotline