Who Cheats and How?: Scams, Fraud and the Dark Side of the Corporate World

This book is a definitive account of Frauds and scams popping up in the Corporate World. A result of over six years of rigorous research, the work presents a deeper and comprehensive perspective on corporate scams and frauds.  One would be surprised to know about companies that are trusted world over have agreed for multi-billion dollar settlements with the Department of Justice, as most of them have either been found guilty of misconduct or have themselves paid the settlement amounts to close further investigations. How will it feel when we get to know that Banks, wherein we keep our hard earned savings, have been found guilty of fraudulent acts in some way or the other? The list is almost a who’s who of the Banking community. The book will point out another very delicate and sensitive subject and that is the drugs we take. The book will talk in detail about Pharmaceutical Companies who have been found guilty of serious misdeeds. Coming to India, where scandals involving Union Carbide, Satyam Computer, allocation of 2G spectrums involving several telecom companies, and allocation of Coal blocks to companies have made headlines. The book will discuss these and other corporate scandals including GMR-led Delhi Airports, LIC Housing, Bharat Earth Movers Ltd., among others.   

Table of Contents:
Introduction Fraud and Scams: Mode and Style Corporate Charlatans Can We Trust Our Banks? Quick-rich Financing Schemes Stock Market Swindle Crime in Our Wired World Accounting: Cheating and Creativity Checkers Could Be Cheaters Do Pharma Companies Care? Do Medicines Heal? Are Doctors Concerned? ′The Last Words′ On Frauds Yet to Be Revealed Index

About the Author :
Robin Banerjee is the MD & CEO of Caprihans India Ltd. Earlier, he served in several multinational global corporations in senior leadership positions, including Hindustan Unilever (as General Manager), ArcelorMittal Germany (as Managing Director), Thomas Cook (Executive Director), Essar Steel (Executive Director) and Suzlon Energy (Gr CFO and member of the global Boards). He is a Chartered Accountant (FCA), Cost Accountant (FCMA), Company Secretary (FCS) and M.Com. He is the recipient of several business awards, including the Rotary International’s award for ‘Ethical Businessman of the year’. Robin is the Chairman, Confederation of Indian Industry (CII) Maharashtra, for Finance and Taxation Committee, and Co-Chairman Western Region for ESG Committee. He is a member of the Board of Studies for Independent Directors, Indian Institute of Corporate Affairs, Government of India. He is also in the Board of SME Chamber of India.  He serves as an independent director in several companies, including stock-exchange-listed ones. He had earlier authored several books on indirect taxation, including Complete Treatise on Central Excise; Valuation and Modvat, which went into 10 editions. He has also authored two bestselling business non-fiction books: • Who Cheats and How (published in 2015) available in English, Hindi and Marathi languages • Who Blunders and How (published in 2019) Robin is a much sought-after key-note speaker. He is also a popular columnist. He is a member of the academic boards in several management institutions. A fitness freak, he loves to attend gym regularly. His passion is to play badminton and table tennis, time permitting.

Review :
This book is a succinct warning on the frauds occurring in some parts of the corporate world. It argues forcefully to lift the veil of the corporate structure in order to fix accountability for poor corporate governance. The minority shareholders with virtually no power to run the affairs of the corporation actually pay for the sins of promoters—directors and top management who effectively run the corporation. Manipulations in companies’ accounts and share prices may increase the wealth of the top management. However, it is the general public and the minority shareholders who ultimately pick up the bills resulting from frauds and mismanagement in the corporate world. Values that serve society are integral to good corporate governance as much as in the public sphere. The world we live in is willy-nilly becoming more transparent. Those in positions of power and those who wield discretionary authority have to necessarily become answerable for their actions. Yet the incidence of financial frauds and criminal activity in business organisations is on the rise. What drives wealthy individuals who have everything money can buy but still cannot contain their greed? Why did some of the most successful corporate captains get embroiled in scandals that ended up tarnishing not just their personal reputations but those of the organisations with which they were associated as founders, promoters or directors? Is it individual avarice that drives free enterprise capitalism or are there structural issues— like the nexus between business and politics and the deliberate dilution of regulatory safeguards—that create an environment that enables scams to be committed with brazen impunity? Read this book for answers to these questions. The book is a well-researched compilation of the large number of crimes committed by corporates over the last many years; it covers them all, not just once but many times over, in various situations and contexts. Not only a ‘must read’ but a ‘must be kept’ in one’s personal and professional library! First compendium of crimes…most of the cases covered are of recent vintage and contemporary…the fact that writer has managed to pack in brief summaries of nearly 500 frauds and scams is commendable. His understanding of the subject and ability to communicate them crisply is a highlight of this book…. The book is a welcome addition. It can be read overtime and you can dip into any page. A robust compilation of corporate scams and frauds across the world…the author has done extensive research and carried out in-depth analyses of public records to collate information on different types of frauds…the book scores on its ability to demonstrate how corporate frauds have evolved over the years. "Not only a ‘must read’ but a ‘must be kept’ in one’s personal and professional library!" The piece of work generates an awareness of frauds that led to corporate fiascos at different parts of the world at different times…. The book leaves a lingering impact of the theme on the minds of the reader… To me it is Truth Well Told…