[posting]59136348[/posting]Obwohl bei Vitesse Semiconductor letztendlich niemand direkt wegen gefälschter Geschäfts- oder Quartalsberichte ("Accounting fraud") verurteilt wurde (aber ursprünglich mal angeklagt wurde), weil eben, wie man oben sieht, es sehr, sehr schwierig ist, eine Jury von so einem Vergehen einstimmig zu überzeugen, hier nun eben ein Seitenaspekt der ganzen Sache, nämlich der mit den "Accounts receivable", so wie das die Autoren Schilit und Perler (in der 3.Auflage) darstellen:
S.211 (inkl. möglicher Rechtschreibfehler der Autoren
):...Vitesse Semiconductor also admitted to classifying cash that it received from a bank as the sale of accounts receivable rather than as borrowing.
The alleged scheme involved Vitesse “selling” accounts receivable (many of which related to uncollectible or fraudulent revenue) to Silicon Valley Bank at the end of each quarter, to make it seem that Vitesse’s accounts receivable had remained relatively stable.
Vitesse never really offloaded the risk of loss from these receivables, however, as the bank retained the right to demand that Vitesse repurchase these receivables.
The scheme came to light only serendipitously when a special committee of the company’s board was given the task of investigating Vitesse’s stock option backdating practices.
As the cockroach theory (“where there is one, there are many”) would have it, the committee found many more problems than options backdating tricks.
It found damning evidence of accounting improprieties and provided a startling list of transgressions, two of which involved manipulating cash flow, including:
(1) “improper accounting for certain transactions as sales of accounts receivable rather than borrowings” and
(2) “failure to disclose practices to increase reported cash balances, which balances were not representative of operating cash balances throughout the reporting period.”
serendipitously = zufälligerweise
transgression = Überschreitung
=> die Silicon Valley Bank gibt es noch heute: https://www.svb.com/de/
...und beide, Tesla und die Silicon Valley Bank, kennen sich - via SolarCity - als Geschäftspartner (~) --> na bitte!
=>
SAN MATEO, Calif., Jan. 25, 2016 /PRNewswire/ -- SolarCity Corporation (NASDAQ: SCTY) closed a $160 million five-year term facility on Friday, January 22. BofA Merrill Lynch acted as Mandated Lead Arranger and Sole Bookrunner, and KeyBank and Silicon Valley Bank acted as Joint Lead Arrangers on the transaction.
The facility is secured by a portfolio of high quality, long-term customer systems. The financing allows SolarCity to recycle capital to continue growth and will make it possible for SolarCity to continue offering power generated by solar energy systems to customers for less than they pay for utility bills at the time the customer contracts are signed....
=> dieser letzte Satz klingt in meinen Ohren (wieder) recht Enron-mäßig
=> ich habe nach "Silicon Valley Bank" in den Tesla-Geschäftsberichten 2013-2017 gesucht: dort taucht diese Bank nicht auf (zumindest so geschrieben oder als "SVB")
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(~) http://ir.tesla.com/news-releases/news-release-details/solar…