Kickbacks
   HOME
*





Kickbacks
A kickback is a form of negotiated bribery in which a commission is paid to the bribe-taker in exchange for services rendered. Generally speaking, the remuneration (money, goods, or services handed over) is negotiated ahead of time. The kickback varies from other kinds of bribes in that there is implied collusion between agents of the two parties, rather than one party extorting the bribe from the other.Wrage, Alexandra Addison. ''Bribery and Extortion: Undermining Business, Governments, and Security.'' Westport, Conn.: Praeger Security International, 2007. p. 14. The purpose of the kickback is usually to encourage the other party to cooperate in the scheme.Kranacher, Riley, and Wells, p. 387. The term "kickback" comes from colloquial English language, and describes the way a recipient of illegal gain "kicks back" a portion of it to another person for that person's assistance in obtaining it.Campos, p. 299. Types and methods The most common form of kickback involves a vendor sub ...
[...More Info...]      
[...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]  


picture info

President Asif Ali Zardari
Asif Ali Zardari ( ur, ; sd, ; born 26 July 1955) is a Pakistani politician who is the president of Pakistan Peoples Party Parliamentarians and was the co-chairperson of Pakistan People's Party. He served as the 11th president of Pakistan from 2008 to 2013, the first president born after Independence. He is the widower of twice-elected former Prime Minister of Pakistan Benazir Bhutto. He has been a member of the National Assembly of Pakistan since August 2018. The son of Hakim Ali Zardari, a landowner from Sindh, Zardari rose to prominence after his marriage to Benazir Bhutto in 1987, who became the Prime Minister of Pakistan after her election in 1988. When Bhutto's government was dismissed by President Ghulam Ishaq Khan in 1990, Zardari was widely criticized for involvement in corruption scandals that led to its collapse. When Bhutto was reelected in 1993, Zardari served as Federal Investment Minister and Chairperson of Pakistan Environmental Protection Council. Fol ...
[...More Info...]      
[...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]  


Bid Rigging
Bid rigging is a fraudulent scheme in procurement auctions resulting in non-competitive bids and can be performed by corrupt officials, by firms in an orchestrated act of collusion, or between officials and firms. This form of collusion is illegal in most countries. It is a form of price fixing and market allocation, often practiced where contracts are determined by a call for bids, for example in the case of government construction contracts. The typical objective of bid rigging is to enable the "winning" party to obtain contracts at uncompetitive prices (i.e., at higher prices if they are sellers, or lower prices if they are buyers). The other parties are compensated in various ways, for example, by cash payments, or by being designated to be the "winning" bidder on other contracts, or by an arrangement where some parts of the successful bidder's contract will be subcontracted to them. In this way, they "share the spoils" among themselves. Bid rigging almost always results in econ ...
[...More Info...]      
[...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]  


picture info

Political Corruption
Political corruption is the use of powers by government officials or their network contacts for illegitimate private gain. Forms of corruption vary, but can include bribery, lobbying, extortion, cronyism, nepotism, parochialism, patronage, influence peddling, graft, and embezzlement. Corruption may facilitate criminal enterprise such as drug trafficking, money laundering, and human trafficking, though it is not restricted to these activities. Misuse of government power for other purposes, such as repression of political opponents and general police brutality, is also considered political corruption. Over time, corruption has been defined differently. For example, in a simple context, while performing work for a government or as a representative, it is unethical to accept a gift. Any free gift could be construed as a scheme to lure the recipient towards some biases. In most cases, the gift is seen as an intention to seek certain favors such as work promotion, tipping in or ...
[...More Info...]      
[...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]  


picture info

Bribery
Bribery is the Offer and acceptance, offering, Gift, giving, Offer and acceptance, receiving, or Solicitation, soliciting of any item of value to influence the actions of an official, or other person, in charge of a public or legal duty. With regard to governmental operations, essentially, bribery is "Corrupt solicitation, acceptance, or transfer of value in exchange for official action." Gifts of money or other items of value which are otherwise available to everyone on an equivalent basis, and not for dishonest purposes, is not bribery. Offering a discount or a refund to all purchasers is a legal rebate (marketing), rebate and is not bribery. For example, it is legal for an employee of a Public Utilities Commission involved in electric rate regulation to accept a rebate on electric service that reduces their cost for electricity, when the rebate is available to other residential electric customers. However, giving a discount specifically to that employee to influence them to loo ...
[...More Info...]      
[...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]  


picture info

Tangentopoli
''Mani pulite'' (; Italian for "clean hands") was a nationwide judicial investigation into political corruption in Italy held in the early 1990s, resulting in the demise of the so-called " First Republic" and the disappearance of many Italian political parties. Some politicians and industry leaders committed suicide after their crimes were exposed. Antonio Di Pietro was the main judicial figure in charge of the investigation. In some accounts, as many as 5,000 public figures fell under suspicion. At one point, more than half of the members of the Italian Parliament were under indictment, while more than 400 city and town councils were dissolved because of corruption charges. The estimated value of bribes paid annually in the 1980s by Italian and foreign companies bidding for large government contracts reached US$4 billion (6.5 trillion lire). The corrupt system uncovered by the investigation was referred to as ''Tangentopoli'' (). The term derives from Italian ''tangente'', w ...
[...More Info...]      
[...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]  


picture info

Mani Pulite
''Mani pulite'' (; Italian for "clean hands") was a nationwide judicial investigation into political corruption in Italy held in the early 1990s, resulting in the demise of the so-called " First Republic" and the disappearance of many Italian political parties. Some politicians and industry leaders committed suicide after their crimes were exposed. Antonio Di Pietro was the main judicial figure in charge of the investigation. In some accounts, as many as 5,000 public figures fell under suspicion. At one point, more than half of the members of the Italian Parliament were under indictment, while more than 400 city and town councils were dissolved because of corruption charges. The estimated value of bribes paid annually in the 1980s by Italian and foreign companies bidding for large government contracts reached US$4 billion (6.5 trillion lire). The corrupt system uncovered by the investigation was referred to as ''Tangentopoli'' (). The term derives from Italian ''tangente'', ...
[...More Info...]      
[...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]  


Anti-Kickback Enforcement Act
The Anti-Kickback Enforcement Act of 1986 (, originally codified at 41 U.S.C. § 51 et seq., recodified at ) modernized and closed the loopholes of previous statutes applying to government contractors. The law attempts to make the anti- kickback statute a more useful prosecutorial tool by expanding the definition of prohibited conduct and by making the statute applicable to a broader range of persons involved in government subcontracting A subcontractor is an individual or (in many cases) a business that signs a contract to perform part or all of the obligations of another's contract. Put simply the role of a subcontractor is to execute the job they are hired by the contractor .... References {{US-law-stub 99th United States Congress ...
[...More Info...]      
[...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]  


picture info

Bribery
Bribery is the Offer and acceptance, offering, Gift, giving, Offer and acceptance, receiving, or Solicitation, soliciting of any item of value to influence the actions of an official, or other person, in charge of a public or legal duty. With regard to governmental operations, essentially, bribery is "Corrupt solicitation, acceptance, or transfer of value in exchange for official action." Gifts of money or other items of value which are otherwise available to everyone on an equivalent basis, and not for dishonest purposes, is not bribery. Offering a discount or a refund to all purchasers is a legal rebate (marketing), rebate and is not bribery. For example, it is legal for an employee of a Public Utilities Commission involved in electric rate regulation to accept a rebate on electric service that reduces their cost for electricity, when the rebate is available to other residential electric customers. However, giving a discount specifically to that employee to influence them to loo ...
[...More Info...]      
[...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]  


picture info

Collusion
Collusion is a deceitful agreement or secret cooperation between two or more parties to limit open competition by deceiving, misleading or defrauding others of their legal right. Collusion is not always considered illegal. It can be used to attain objectives forbidden by law; for example, by defrauding or gaining an unfair market advantage. It is an agreement among firms or individuals to divide a market, set prices, limit production or limit opportunities. It can involve "unions, wage fixing, kickbacks, or misrepresenting the independence of the relationship between the colluding parties". In legal terms, all acts effected by collusion are considered void. Definition In the study of economics and market competition, collusion takes place within an industry when rival companies cooperate for their mutual benefit. Conspiracy usually involves an agreement between two or more sellers to take action to suppress competition between sellers in the market. Because competition among ...
[...More Info...]      
[...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]  


picture info

President Suharto
Suharto (; ; 8 June 1921 – 27 January 2008) was an Indonesian army officer and politician, who served as the second and the longest serving president of Indonesia. Widely regarded as a military dictator by international observers, Suharto led Indonesia through a dictatorship for 31 years, from the fall of Sukarno in 1967 until his own resignation in 1998. The legacy of his 31-year rule, and his US$38 billion net worth, is still debated at home and abroad. Suharto was born in the small village of Kemusuk, in the Godean area near the city of Yogyakarta, during the Dutch colonial era. He grew up in humble circumstances. His Javanese Muslim parents divorced not long after his birth, and he lived with foster parents for much of his childhood. During the Japanese occupation era, Suharto served in the Japanese-organized Indonesian security forces. During Indonesia's independence struggle, he joined the newly formed Indonesian Army. There, Suharto rose to the rank of major ge ...
[...More Info...]      
[...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]  


picture info

Anti-competitive Practices
Anti-competitive practices are business or government practices that prevent or reduce competition in a market. Antitrust laws differ among state and federal laws to ensure businesses do not engage in competitive practices that harm other, usually smaller, businesses or consumers. These laws are formed to promote healthy competition within a free market by limiting the abuse of monopoly power. Competition allows companies to compete in order for products and services to improve; promote innovation; and provide more choices for consumers. In order to obtain greater profits, some large enterprises take advantage of market power to hinder survival of new entrants. Anti-competitive behavior can undermine the efficiency and fairness of the market, leaving consumers with little choice to obtain a reasonable quality of service. Anti-competitive behaviour is used by business and governments to lessen competition within the markets so that monopolies and dominant firms can generate superno ...
[...More Info...]      
[...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]  


picture info

Extortion
Extortion is the practice of obtaining benefit through coercion. In most jurisdictions it is likely to constitute a criminal offence; the bulk of this article deals with such cases. Robbery is the simplest and most common form of extortion, although making unfounded threats in order to obtain an unfair business advantage is also a form of extortion. Extortion is sometimes called the "protection racket" because the racketeers often phrase their demands as payment for "protection" from (real or hypothetical) threats from unspecified other parties; though often, and almost always, such "protection" is simply abstinence of harm from the same party, and such is implied in the "protection" offer. Extortion is commonly practiced by organized crime. In some jurisdictions, actually obtaining the benefit is not required to commit the offense, and making a threat of violence which refers to a requirement of a payment of money or property to halt future violence is sufficient to commit ...
[...More Info...]      
[...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]