Professor Elam

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Hoboken New Jersey

The docks of Hoboken New Jersey were the scene of the Academy Award winning On the Waterfront in 1955. Gee nothing has changed.  I commented on this last semester  to my Wiley rep who is in Hoboken. She said it had changed, apparently not. 

FBI arrested local officials and yes rabbis in a scheme involving money laundering through Israeli charities. 

Frankly the story is a bit hard to follow, but no indictments yet just arrests so it may take a bit for the story to come out. 

Fraud, despite SARBOX et al, still with us. No wonder HBO put The Sopranos in Jersey….

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4 responses to “Hoboken New Jersey”

  1. Stephanie Avatar
    Stephanie

    Your comment is stereotyping. Are you alluding that fraud is only committed in New Jersey by mobsters?

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  2. Dennis Elam Avatar
    Dennis Elam

    NO clearly if one reads the article crime in New Jersey is committed by all kinds of people, one mayor has been in office for only a year or so, and the list includes rabbis, a diverse group to be sure
    Have you seen On the Waterfront?
    Princeton is located in New Jersey for example
    I thought this would make for interesting discussion on internal control…..CNBC and other cahnels have had numerous discussions about New Jersey

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  3. Rob Earle Avatar
    Rob Earle

    Fraud will always be with us… The government and other regulatory bodies can put into place as many preventative measures as they like, but as long as their is a profit to be made, someone is going to try and make it. If everything could prevented wit controls and rules CPA’s would be out of jobs.
    While internal controls are designed to prevent fraud, they are only designed to prevent fraud that is directly connected to the conduction of business. Selling stolen goods on the black market (kidneys) is a little hard to track. Obviously corporations find out when goods are stolen, but where they go after that is a toss up. Otherwise the goods wouldn’t remain missing for long

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  4. Harrison Belt Avatar
    Harrison Belt

    The thing that is upsetting about this is that the people who comitted the fraud are people whom you would never think of having the motive to commit it. When leaders of any kind are indicted for comitting crimes against their people it hurts society as a whole

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