kickback : Definition, Usages, News and More

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kickback

kikbak

  • n  a commercial bribe paid by a seller to a purchasing agent in order to induce the agent to enter into the transaction

  • The $18,200 could have gone unrecorded because of slipshod accounting, and the kickback allegation was hearsay.
  • In 1972, Dorfman was convicted of accepting a kickback of $55,000 on a pension-fund loan and served nine months in jail.
  • Veliotis denies offering them to federal prosecutors in exchange for dropping the kickback charges, but no doubt he hopes his cooperation will improve chances for a future bargain.
News & Articles

  • SEC Announces More Charges in Massive Kickback Scheme to Secure Business of Venezuelan Bank
    Washington, D.C., June 12, 2013 — The Securities and Exchange Commission today charged the former head of the Miami office at brokerage firm Direct Access Partners (DAP) for his role in a massive kickback scheme to secure the bond trading business of a state-owned Venezuelan bank.
    June 12, 2013 - U.S. Securities and Exchange Commission
  • Navy kickbacks defendant requests new lawyer
    PROVIDENCE, R.I. (AP) — A former employee of the U.S. Navy who admitted leading a kickback scheme that cost the Navy $18 million is asking for a new lawyer less than two weeks after pleading guilty to conspiracy, theft of government property and tax evasion.        
    June 12, 2013 - Boston Globe
  • SEC sues former head of Miami brokerage firm
    The Securities and Exchange Commission said Wednesday that it filed suit against Ernesto Lujan, the former head of the Miami office at brokerage firm Direct Access Partners, for his role in a massive kickback scheme to secure the bond trading business of a state-owned Venezuelan bank.
    June 12, 2013 - Miami Herald
Quotes

  • Ruth Bader Ginsburg in msnbc.com
    Because Skilling's misconduct entailed no bribe or kickback,Ruth Bader Ginsburg wrote in the majority opinion, "he did not conspire to commit honest-services fraud under our confined construction" of the law.
  • John Gomery in CTV.ca
    Jacques Corriveau was the central figure in an elaborate kickback scheme by which he enriched himself personally and provided funds and benefits to the (Liberal Party of Canada in Quebec),Gomery said.
  • Andrew Cuomo in Washington Post
    Unfortunately it appears that student loan scams don't end at graduation,New York Attorney General Andrew M. Cuomo said yesterday in a statement. "Our investigation seeks to put an end to kickback schemes and payoffs that benefit lenders...

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