A Wall Street bond trader turned on the television one day and saw a news report accusing him of committing a large securities scam. This trader learned that his employer had accused him of creating $300 million of phony profits and, as a result, getting bogus bonuses of $8 million. He claimed he was innocent, and it took about three years for him to prove his innocence. In the months that followed the accusations, he was investigated by the SEC, the National Association of Securities Dealers, and the Justice Department. Three years later, the bond trader was cleared of all major charges brought against him. Assume that you are the employer who accused the trader of this fraud. You would most like seek civil action only against the trader. a. Trueb. False

Question

Kolby Clarke

Business

15 November, 21:23

A Wall Street bond trader turned on the television one day and saw a news report accusing him of committing a large securities scam. This trader learned that his employer had accused him of creating $300 million of phony profits and, as a result, getting bogus bonuses of $8 million. He claimed he was innocent, and it took about three years for him to prove his innocence. In the months that followed the accusations, he was investigated by the SEC, the National Association of Securities Dealers, and the Justice Department. Three years later, the bond trader was cleared of all major charges brought against him. Assume that you are the employer who accused the trader of this fraud. You would most like seek civil action only against the trader. a. Trueb. False

+5

Answers (1)

Know the Answer?

Colt Hobbs · Answer 1

a. True

Explanation:

The civil litigation process is one which is followed once the complaint is filed against offender. This type of litigation is non criminal stream in the court. The complain for civil litigation elaborates the offence and highlights the financial loss caused and asks for damages compensation. Civil law protects people from breach of their rights. Civil litigation has three process, pre trial, trial and post trial. These proceedings are completed to protect the rights of individual involved in the law suit.