Control fraud is when an executive uses their entity as a “weapon” to commit fraud.

William K. Black also writes frequently on NewEconomicPerspectives.org.

William_K._Black

Wikipedia excerpt [Control fraud]:

Control fraud occurs when a trusted person in a high position of responsibility in a company, corporation, or state subverts the organization and engages in extensive fraud for personal gain. The term Control fraud was coined by William K. Black to refer both to the acts of fraud and to the individuals who commit them.

Wikipedia excerpt [William K. Black]:

William Kurt Black (born September 6, 1951) is an American lawyer, academic, author, and a former bank regulator. Black’s expertise is in white-collar crime, public finance, regulation, and other topics in law and economics. He developed the concept of “control fraud“, in which a business or national executive uses the entity he or she controls as a “weapon” to commit fraud.

Background
Black earned a J.D. from the University of Michigan Law School and a Ph.D. from the University of California, Irvine. Black is currently an Associate Professor of Economics and Law at the University of Missouri-Kansas City in the Department of Economics and the School of Law. He was the Executive Director of the Institute for Fraud Prevention from 2005-2007 and previously taught at the LBJ School of Public Affairs at the University of Texas, and at Santa Clara University.

Black was litigation director for the Federal Home Loan Bank Board (FHLBB) from 1984 to 1986, deputy director of the Federal Savings and Loan Insurance Corporation (FSLIC) in 1987, and Senior VP and the General Counsel of the Federal Home Loan Bank of San Francisco from 1987 to 1989, which regulated some of the largest thrift banks in the U.S.

Publications
Black is the author of, among others, The Best Way to Rob a Bank is to Own One: How Corporate Executives and Politicians Looted the S&L Industry, 2005, University of Texas Press, ISBN 0-292-72139-0.

Bill Black wrote many articles for the Huffington Post from 2009 to date, focusing on financial and political fraud and chicanery and (legal and illegal) corruption.

William K. Black also writes frequently on white-collar crime on NewEconomicPerspectives.org.

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