As emphasised by Jones (2011), creative accounting is not necessarily a synonym of fraudulent action.
Sterling Equities Mr. Picard is seeking $1 billion from Sterling Equities and dozens of other entities controlled by Mr. Katz and Mr. Wilpon, in what is called a "fraudulent conveyance" action, usually referred to as a clawback suit.
The UVTA Baedeker: Can The Transferee Assert A Defense? "Good faith for value" is the classic defense to a fraudulent transfer action.
What has been added to the fraudulent transfer laws, first through the UFCA in 1918, later in the UFTA of 1984, and most recently in the UVTA of 2014, are more complex rules which attempt to address an expanding universe of situations which require the remedy of a fraudulent transfer action.
The court opinions are all over the board as to how much leash the one-year period gets, and at least one state (California) finally amended its UFTA (now the UVTA) to totally extinguish a fraudulent transfer action after seven years of the date of the transfer, regardless of this one year discovery extension.
The initial fraudulent action and every step thereafter taken, pressed ever to the ultimate goal payment of government money to persons who had caused it to be defrauded.
But they are unlikely to go further and seek a bar order against Musk, a penalty reserved for clearly fraudulent actions.
Legal experts said that the decision by prosecutors would make the KPMG case the highest profile -- and potentially even the first -- instance in which the government held an accounting firm liable under the federal whistle-blower statute for participating in the fraudulent actions of a client.
For photographers, there may be a middle course between the fraudulent actions of di Chirico and the legal opportunities of European artists: They are likely to have kept all their old negatives, not only the ones that were printed at the time, and can produce new editions of older imagery.
In a statement, Chevron denied any improper or fraudulent actions and said it settled the case to end "a long and expensive legal proceeding".
It charged the cigarette makers with money-laundering and taking other fraudulent actions to pursue a "massive, ongoing smuggling scheme".
