Sentence examples for fake transaction from inspiring English sources

Napier was a senior vice president at General Re in 2000 and 2001, when the reinsurance giant allegedly created a fake transaction to spiff up the books of top client American International Group.

For example, if Alice can see in the public ledger that address ZZZZ owns 5 bitcoin, why can't Alice pretend to be the owner of address ZZZZ and write a fake transaction message to convince the Bitcoin network that address ZZZZ is sending 5 bitcoin to her address AAAAAAAAA?

He is said to have hidden it using fake transactions with cooperating companies.

F1 Health & Fitness F6 BUSINESS DAY C1-18 Fake Transactions Admitted Reliant Resources, one of the country's largest electricity traders, said it had conducted fake transactions with other power companies that inflated its revenue by 10percentt over the last three years.

Often, they will take over legitimate businesses which they can then push the money through in fake transactions, generating a paper trail of receipts.

Mr. Bonventre is also accused of personally pocketing nearly $2 million from the scheme through fake transactions in his own Madoff accounts — one of which was backdated by a dozen years — and filing inaccurate tax returns.

These sources claim that Mr Adoboli took advantage of a loophole in securities law by using exchange-traded funds (ETFs) to book these fake transactions, since ETF rules do not force brokers immediately to produce confirmations of trades.

On top of that, says the report, Mr Tan was in cahoots with at least eight stockbroking firms to fake transactions and thus to inflate volumes in BW shares.For a while the scam worked spectacularly.

There are many ways of doing this, from setting up legitimate businesses that turn over lots of cash, to buying and exchanging travellers' cheques, to corrupting legitimate businessmen to fake transactions to you.

As for Mayer, Brown, its lawyers told the Refco examiner that they had no idea why the fake transactions were being conducted, and deemed it to be none of their business.

Reliant Resources Inc., one of the country's biggest electricity traders, said yesterday that it had conducted fake transactions with four power companies that inflated its revenue by 10percentt over the last three years.