While crypto scams and frauds have taken spotlight, companies are still using accounting fraud to cook the books. A new study estimates that in an average year 41% of publicly traded companies misrepresent their financial report, one-third corporate frauds come to light.
A Texas based oil and gas drilling company Miller Energy Resources Inc., which operates in Alaska, petitioned for bankruptcy security on Thursday with a plan to hand control of the company to an offshoot of private-equity firm Apollo Global Management LLC and speculative stock investments Highbridge Capital Management LLC. Miller Energy petitioned for section 11 security in U.S. Bankruptcy Court in Anchorage and has a deal set up with junior loan specialists Apollo Investment Corp., some piece of private-equity monster Apollo, and Highbridge, the speculation administration arm of J.P. Morgan Chase & Co. Like various other autonomous oil-company executives who…
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