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or "How I Hired a White Collar Criminal And Avoided Jail" "On May 31, 2007, the Commission charged Abrams and three other former senior Mercury officers with p
by staunch 13y ago
or "How I Hired a White Collar Criminal And Avoided Jail"
"On May 31, 2007, the Commission charged Abrams and three other former senior Mercury officers with perpetrating a fraudulent and deceptive scheme from 1997 to 2005 to award themselves and other Mercury employees undisclosed, secret compensation by backdating stock option grants and failing to record hundreds of millions of dollars of compensation expense. The Commission's complaint alleges that during this period certain of these executives, including Abrams, backdated stock option exercises, made fraudulent disclosures concerning Mercury's "backlog" of sales revenues to manage its reported earnings, and structured fraudulent loans for option exercises by overseas employees to avoid recording expenses." -- http://www.sec.gov/litigation/litreleases/2009/lr20964.htm http://www.sec.gov/litigation/litreleases/2009/lr20964.htm
"Federal prosecutors obtained an indictment against Abrams in 2008 for income tax evasion and aiding in the preparation of false tax returns." -- http://www.reuters.com/article/2010/09/09/mercury-plea-idUSN0920738920100909 http://www.reuters.com/article/2010/09/09/mercury-plea-idUSN...
Calling these "mistakes" is highly disingenuous.
- woodchuck64 13y agohttp://www.law360.com/articles/229277/ex-mercury-cfo-gets-4-months-for-tax-evasion http://www.law360.com/articles/229277/ex-mercury-cfo-gets-4-... "Noting that criminal tax evasion cases are relatively rare, prosecutors called Abrams' crime "a disturbingly familiar case of a wealthy defendant manipulating a system to gain more money."
- Lifescape 13y agoIt's all politics. It's phrased as a "mistake" because anything more would admit to being aware of the fraud, regardless of whether or not that's the case.
- _delirium 13y agoBen Horowitz's blog is normally along such lines: posts that have a general basis in fact, but represented in a highly misleading manner.
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