Who is Jeff Skilling?

Jeffrey Skilling, who is commonly referred to by his nickname ‘Jeff Skilling’, was the COO (Chief Financial Officer) of the ENRON Corporation from 1990 until the corporation’s 2001 bankruptcy claim, which resulted in the subsequent termination of ENRON.

The demise of ENRON was a direct result of the discovery of fraudulent activity following an investigation conducted by the Securities and Exchanges Commission (SEC) that took place between 2001 and 2002 – Jeff Skilling assumed the role of CEO (Chief Financial Officer) following the retirement of Kenneth Lay, the founder of the ENRON Corporation. Jeff Skilling is currently serving a 24-year sentence in a Federal Corrections Facility in the state of Colorado.

Jeff Skilling and the ENRON Corporation

While Jeff Skilling was hired by Kenneth Lay as a result of Skilling’s apparent financial and business acumen, the mention of the name ‘Jeff Skilling’ is most commonly associated with his respective participation in the ENRON scandal. The ENRON scandal is considered by a vast array of both historians and economists as being one of the most notorious and publicized financial scandals ever to have taken place within the United States.

The Role of Jeff Skilling in the ENRON Scandal

Although Jeff Skilling was not found to primarily responsible for the losses resulting from the ENRON scandal, he was found to be responsible for a multitude of criminal activity instrumental in the scandal itself:

Government Deregulation of ENRON

The declarationof government deregulation with regard to the ENRON Corporation, an act masterminded by Jeff Skilling, ENRON executives were permitted to control the content of earnings reports released to both investors and employees:

The release of these earnings reports took place despite the lack of validity and authentication with regard to their respective contents – while the ENRON Corporation was secretly bankrupt, Jeff Skilling orchestrated the release of earnings reports illustrating rampant and wild financial gain

Securities Fraud

Securities fraud conducted by Jeff Skilling – in concert with a number of other ENRON executives – involvedthe unlawful and illegal methodologyundertaken with regard to not only reporting of earnings, but the mismanagement and misappropriation of funds:

Jeff Skilling masterminded insider trading activities in whichhe illegally undertook the unlawful and unethical application of information not privy to the general public in order to render profit and benefit resulting from clandestine investment activity

Financial Consequences Attributed to Jeff Skilling

Jeff Skilling’s actions – in tandem with a number of other ENRON executives – have been recognized as resulting in upwards of $72 billion in financial losses:

Economists, historians, and law enforcement agents illustrate that approximately $70 billion was unlawfully misappropriated from individuals who had invested in the ENRON Corporation; as a result of the misrepresentation enacted by Jeff Skilling with regard to ENRON’s investors, the fallacious earnings reports fostered an increase of investment activity – this resulted in the subsequent embezzlement of incoming investment capital

In addition to the financial loss resulting from Jeff Skilling’s defrauding of ENRON’s investors, ENRON became insoluble due to the misappropriation of funds required to maintain business operations with regard to ENRON Corporation; following the discovery of the fraud committed by Jeff Skilling, ENRON was deemed to be insolvent – this insolvency resulted in the loss of pensions and stock options belonging to an estimated 22,000 employees and trustees.

What is Organized Crime?

Organized Crime is classified as a criminal activity conducted through the involvement of criminal groups and organizations typically working in tandem and in concert on a collective basis; this type of crime is renowned for its involvement of illegal commercial and financial activity including the undertaking ofmethodologies considered to be clandestine, fraudulent, deceptive, and illegal in nature.

Types of Organized Crime

Within the scope of Organized Crime, there are a seemingly-endless amount of applications with the regard for a collective undertaking of criminal activity; however, within the 20th century – as well as the beginnings of the 21st century within the United States – 2 primary measures of Organized Crime are considered to be the most prevalent:

Financial Organized Crime

Organized Crime taking place within a financial setting is classified as such resulting from the legislation applicable to the nature of the implicit criminal activity undertaken. Common activities latent within Financial Organized Crime may include the exchange and circulation of monies or currency in an unethical, unlawful, and illegal fashion; in the scope of a charge,this type of Organized Crime can occur in a variety of fashions, including:

Money Laundering

Embezzlement

Securities and Exchange Fraud

Accounting Fraud

Forgery and Counterfeit

Ponzi and Pyramid Schemes

Insider Trading

Financial Espionage

Conspiracy

Solicitation

Financial Blackmail and Extortion

Commercial Organized Crime

Commercially-based Organized Crime presents itself largely in the form of Racketeering. Racketeering is classified as a variety of criminal activityinvolving an illegal business or commercial venture. The implicit activity of Racketeering is neither specific to business operations nor commercialized endeavors; due to the fact that a wide array of commercially-based Organized Crime exists, the application of this criminal activity is fairly-expansive:

Racketeering may range in the scope of the legality with regard to the nature of the products and services that are marketed within this illegal endeavor; in certain cases, the products and services marketed within commercially-based Organized Crime endeavors are not inherently illegal – this can include taxed items, such as cigarettes, alcohol, and commercially-available items

In contrast, the undertaking of Commercially-based Organized Crime rooted in the provision of products and services deemed to be illegal is not uncommon; the expressed legality of the products and services is typically immaterial, due in part to the actions undertaken are inherently illegal – examples of illegal products and services may include prostitution, embezzlement, and the commercial sale of illegal drugs

Legislation Enacted With Regard to Organized Crime

The Racketeer Influenced and Corrupt Organizations Statute (RICO) is a legislative act passed by the Federal Government in order to quell the activity, formation, and proliferation of organized crime in the United States of America, both on commercial and financial levels:

The RICO statutes were enacted in order to solidify a method undertaking both legal and punitive restitution with regard to criminal activity occurring on an organized and collective basis

The classification of the nature of Organized Crime, despite the methodology or respective activities taken are considered to be less pertinent than the inherent criminal activity employed; as a result, the charge of criminal conspiracy is largely applicable to charges regarding Organized Crime activity

What are Penny Stocks?

Penny Stocks are types of stocks available for trade, exchange, and purchase within the realm of the investment market that have been attributed with Market Capitalization value that does not exceed $50 million; Penny Stocks, which are oftentimes referred to as ‘Microcaps – a colloquialism with regard to the word ‘Capitalization’ – are typically bought, sold, and exchanged in larger quantities.

Penny Stocks vs. Blue Chip Stocks

While Penny Stocks are traditionally considered to be stocks with Market Capitalization values not exceeding $50 million, stocks exceeding this Market Capitalization value – and oftentimes far surpassing it – are considered to be ‘Blue Chip’ stocks; in contrast to Penny Stocks, Blue Chip stocks can vary in Market Capitalization values ranging from $50 million to upwards of $400 million.

Blue Chip stocks derive their title from the moniker granted to the chips used in games of Poker – in the game of Poker, then ‘Blue Chips’ are classified as the most valuable chip on the Poker table:

The purchase and Exchange of Penny Stocks is typically undertaken by individuals who are either beginning a foray into the investment market or seasoned traders who have come to be well-versed in the trends and behaviors latent within Penny Stocks

While Blue Chip stocks are typically difficult to attain with regard to individuals with lower amounts of investment capital, the price range implicit within Penny Stocks allows them to be more widely-accessible to individuals without vast amounts of disposable income

Penny Stocks are considered to retain a higher risk in return than their Blue Chip counterparts; while Blue Chip stocks rarely experience drastic losses or gains severe in nature, the availability of Penny Stocks allows for their development to be far more spontaneous

The amount of surety innate in both Penny Stocks, as well as Blue Chip stocks varies; the elevated pricing of Clue Chip stocks allows them to retain far more stable valuation within the commercial market – in contrast, Penny Stocks are considered to retain an increased risk due to the prospect of immediate growth or loss

What are Micro Penny Stocks?

Micro Penny Stocks are types of stocks whose purchase prices are typically lower than their Penny Stock counterparts; while traditional Penny Stocks will range in purchase price – rarely falling below a $5-per-share price range – Micro Penny Stocks are known for their standard purchase price not exceeding $5-per-share. Akin to traditional Penny Stocks, there exists an innate risk with regard to the purchase of Micro Penny Stocks:

Due to the decreased purchase price innate within Micro Penny Stocks, the probability for Microcap Fraud to take place is increased; the mass purchase of Micro Penny Stocks may allow for the purchaser to singlehandedly mandate the behavior and trends associated with that particular Micro Penny Stock

While the decreased purchase price is an attractive prospect to many purchasers, Micro Penny Stocks are considered to be risky with regard to immediate gain; while there do exist instances where Micro Penny Stocks have become Blue Chip stocks, many Micro Penny Stocks lack the liquidity to provide for – at least – an upfront financial asset

What is the Iraqi Dinar Exchange Rate?

The Iraqi Dinar Exchange Rate is the rate of valuation applicable to the Iraqi Dinar, which is the official monetary system in place within the Iraq; currently, there exists no definitive Iraqi Dinar Exchange Rate on the FOREX Market, which is also referred to as the ‘Foreign Exchange Marketplace’.

However, a variety of countries and nation employ the circulation of the Dinar as the primary form of currency within the borders of their respective countries. While certain countries may allow for the facilitation of foreign Dinar with regard to commercial activity, other countries may not accept foreign Dinar as adequate means of currency.

Types of Dinar Exchange Rates

Within the realm of the FOREX Market, each individual Dinar corresponds with an abbreviated moniker, which not only allows for the identification of a specific Dinar Exchange Rate, but also its distinction from other Dinars in circulation:

1.       Algerian Dinar Exchange Rate

         FOREX Abbreviation: DZD

         Country of Origin: Algeria

2.       Bahraini Dinar Exchange Rate

         FOREX Abbreviation: BHD

         Country of Origin: Bahrain

3.       Iraqi Dinar Exchange Rate

         FOREX Abbreviation: IQD – though, not traded on FOREX

         Country of Origin: Iraq

         Notes: There currently exists no Iraqi Dinar Exchange Rate

4.       Jordanian Dinar Exchange Rate

         FOREX Abbreviation: JOD

         Country of Origin: Jordan

         Additional Countries Who Recognize the Dinar: Certain Palestinian Territories in West Bank

5.       Kuwaiti Dinar Exchange Rate

         FOREX Abbreviation: KWD

         Country of Origin: Kuwait

6.       Libyan Dinar Exchange Rate

         FOREX Abbreviation: LYD

         Country of Origin: Libya

7.       MacedoniaDinar Exchange Rate

         FOREX Abbreviation: MKD

         Country of Origin: Republic of Macedonia

8.       Serbian Dinar Exchange Rate

         FOREX Abbreviation: RSD

         Country of Origin: Serbia

9.       Tunisian Dinar Exchange Rate

         FOREX Abbreviation: TND

         Country of Origin: Tunisia

How to Determine the Dinar Exchange Rate

In the event that an individual wishes to determine the Dinar Exchange Rate in conjunction to another form of currency, they can go about this procedure in a variety of ways; however, the utilization of a Currency Exchange Calculator offering the Dinar Exchange Rate may be the most convenient and accurate method – individuals are encouraged to employ these types of calculation tools that are accredited or sponsored by the governing bodies or financial departments maintaining jurisdiction over that respective type of Dinar:

Step 1

Upon arriving at a Currency Exchange Converter or Calculator, individuals will be prompted to locate both the respective Dinar – represented by a FOREX symbol – as well as the corresponding currency involved; as stated above, the Iraqi Dinar is not currently traded on the FOREX Market, and as a result, an Iraqi Dinar Exchange Rate does not exist

Step 2

The individual may be prompted to enter an amount of units for which the desired exchange is applicable; however, certain Dinar Exchange Rate calculators will simply provide an exchange rate on a single-unit basis – and example of this can be illustrated in 2 ways:

Individuals in possession of Dinars interested in undergoing Dinar Exchange Rate investigation may be prompted to enter the FOREX abbreviation as the first currency, and the desired exchange currency as a secondary entry

Individuals desiring to acquire respective Dinars may be prompted to enter their native currency as the first entry, and the individual DINAR as the second entry – with regard to single-unit conversion calculators, an individual will be limited to view the Dinar Exchange Rate on a single-unit basis

Step 3

Upon completing the entry procedure, the results of the Dinar Exchange Rate with regard to the respective currency in possession will be illustrated.

What is an Exchange Rate Calculator?

An Exchange Rate Calculator is an informational and financial resource that may be utilized in order to illustrate the current exchange rate with regard to monetary systems. Due to the fact that international currency is subject to vary in its respective valuation, an Exchange Rate Calculator will provide for the conversion of one type of currency for another; the constant prospect of value fluctuation accounts for perpetual shifts within exchange rates – due to this fact, results rendered by an Exchange Rate Calculator are constantly subject to change and should be recalculated whenever necessary.

How to Use an Exchange Rate Calculator

Primarily, individuals are encouraged to seek out an Exchange Rate Calculator hosted by a reputable source; although a variety of these types of calculators exist, an Exchange Rate Calculator sponsored by a country’s government or gubernatorial institution are considered to be the most reputable resources:

1.       Identify the type of currency in possession

2.       Identify the type of currency that one wishes to exchange

3.       Input both currencies into the Exchange Rate Calculator

4.       The Exchange Rate Calculator will then show the exchange rate between the 2 currencies

Exchange Rate Calculator Example

The following example is current as of February 16th, 2011; any or all information below is for educational purposes only:

1.       Individual A possesses 10 United States Dollars (USD)

2.       Individual A wishes to exchange 10 USD for Mexican Pesos (MXN)

3.       Individual A enters ‘USD’ and ‘MXN’ into the Exchange Rate Calculator

4.       The Exchange Rate Calculator illustrates that 1 USD = 12.1172 MXN

In certain cases, an Exchange Rate Calculator may provide illustrations of part exchange rates in order to show fluctuation

Exchange Rate Calculator Legality

An individual is encouraged remain cognizant that anExchange Rate Calculator is meant for educational and informational purposes only; while the use of a standardized algorithm may account for accurate information regarding Exchange rates, an Exchange Rate Calculator will not be able to account for any or all future fluctuations undertaken by the currency exchange marker – as a result, Exchange Rate Calculators will not factor specifications and exceptions that exist within specific economies:

The procedure utilized to determine the exchange rate shared between two currency systems retains the possibility of extenuating circumstances, exceptions, and conditions.

Calculations made by Exchange Rate Calculators differ on a case by case basis; the satisfaction of all required documentation substantiating the acknowledgement of inherent risk of loss prior to undertaking trade and exchange activity within the FOREX Market should be reviewed to the fullest extent

Exchange Rate Calculator Assistance

In the event that an individual experiences difficulty understanding the circumstances and procedures involved with the trends, behaviors, and logistics latent with in the FOREX system, they are encouraged to consult an attorney specializing in international law, finance law, and commercial law; subsequent analysis of finances and pertinent details with regard to the inherent risks that exist upon exchanging one currency for anothershould be conducted in order to establish a sufficient understanding of any or all processes and procedures corollary to foreign exchange rates.