FCS Fund Management is an investment marketing business with sales of over $10 million and with offices
Question:
FCS Fund Management is an investment marketing business with sales of over $10 million and with offices in Norwich, Connecticut, Dubai, and Hong Kong. It sold high-yield investment schemes, offering returns of up to 20 percent. FCS has clients in the United Kingdom, Europe, and the Middle East, many of whom are U.S. expatriates. FCS sold its investment products through salesmen operating in these locations. The CEO of FCS Fund Management, James Hammond, knew that many of the accounts were, or might be, misleading, false, or deceptive in that they purported to confirm the existence of genuine investments. Describe how the rationalization element of the fraud triangle is present in this case.
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A couple of possibilities may explain the rationalization element of the fr...View the full answer
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