James Gansman, a former E&Y partner in transaction services, was sentenced to one year and one day in jail on Monday after being convicted on six counts of securities fraud last year. Gansman had provided his mistress, Donna Murdoch, with tips on mergers that Ernst & Young were advising which she subsequently traded on. Despite the help, Murdoch needed more money and she began an affair with another man who used the tips to make trades. To add insult to injury, Murdoch ultimately cooperated with investigators and testified against Gansman. She is still awaiting sentencing after pleading guilty to fifteen charges of securities fraud, obstruction of justice, and making false statements. Beside making bad relationship choices, Gansman's hot tips were in violation of E&Y's "written policies and the duty of trust owed to the firm's clients." That extra day in prison should give him just enough time to study better decision making. Ex-Ernst & Young Partner Gansman Sentenced To 1 Year, Day In Prison [WSJ]
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Is Ernst & Young Dishing Out iPhones to New Associates?
- Caleb Newquist
- August 18, 2010
A soon-to-be E&Y associate would really like to get their very own version of Alan the Accountant but would prefer it if Ernie chipped in with the whole iPhone part of that equation:
I’m starting with Ernst & Young in the fall, and was wondering whether you know if Ernst & Young allows iphones to be used with their system like Deloitte? I don’t really want to ask a recruiter or anything just in case it looks bad.
For the record, some of the recruiters are easily rankled, so if there’s anything you don’t want to ask a Big 4 recruiter, you can certainly ask us.
Back to the issue at hand – if your memory serves, you’ll recall that Deloitte has been allowing all professionals to opt for the iPhone for awhile but it was just back in January that the firm quit charging you $13 a month for it.
But as far as E&Y goes, we’ve got no idea what the iPhone situation is, so enlighten the future associate.
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Are Ernst & Young’s Lobbying Activities a Violation of Auditor Independence Rules?
- Caleb Newquist
- March 9, 2012
This morning we linked to a Reuters story that revealed Ernst & Young doing quite […]
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Let’s Welcome Ernst & Young CEO-elect Mark Weinberger to Twitter, Everybody
- Caleb Newquist
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