One of the reasons I am blocked on most corporate intranets, attacked every day, and shadowbanned is the fact that I expose the fraudsters in Silicon Valley and the Valley of the Zombies that is Wall Street.
It took years and years (we started here 10 years ago) for a reclusive corner of the academic world to come to the conclusion I came to 10 years ago: that accounting and earnings fraud is pervasive in America and goes, for the most part, undetected.
From NYT”
Dyck is a professor of finance at the University of Toronto, who just published a provocative new study on the pervasiveness of corporate fraud. The study has been passed around in the world of academia in recent weeks, and has become a fascination among general counsels, corporate leaders and investors.
It suggests that only about a third of frauds in public companies actually come to light, and that fraud is disturbingly common. Dyck and his co-authors estimate that about 40 percent of companies are committing accounting violations and that 10 percent are committing what is considered securities fraud, destroying 1.6 percent of equity value each year — about $830 billion in 2021. Dealbook, January 14th, 2023
“What people don’t get is how widespread the problem of corporate fraud is,” Dyck said about his study, which was published in the Review of Accounting Studies this month. Dealbook, January 14th, 2023
A professor from the University of Ontario did this study this month…It’s not about Sam Bankman-Fried…It’s about the hundreds of them out there no-one knows about…