Long firm

Long firm

A long firm is a trading company set up for fraudulent purposes; the basic operation is to run the company as an apparently legitimate business, gradually extending the amount of cash advances from customers at the same time as increasing the amount of credit from suppliers; when the pot is large enough, the perpetrators decamp with customers' money and suppliers' goods. The procedure needs a certain amount of money to set up, often the proceeds from another crime or a previous long firm.

Long firm frauds have become significantly less common in recent years since it is no longer possible to operate for any length of time without leaving a significant paper trail. Online shops do, however, offer new possibilities.


Wikimedia Foundation. 2010.

Игры ⚽ Нужен реферат?

Look at other dictionaries:

  • long-firm — longˈ firm noun A company of swindlers who obtain goods on pretence of being established in business, and then decamp without payment • • • Main Entry: ↑long …   Useful english dictionary

  • Long-Term Capital Management — (LTCM) was a U.S. hedge fund which failed spectacularly in the late 1990s, leading to a massive bailout by other major banks and investment houses. [cite book |title=The Age of Turbulence: Adventures in a New World |last=Greenspan |first=Alan… …   Wikipedia

  • Firm service — Firm services, also called uninterruptible services, are services, such as electricity and natural gas supplies, that are intended to be available at all times during a period covered by an agreement. Also, the service is not subject to a prior… …   Wikipedia

  • Long John Nebel — (born John Zimmerman) (June 11, 1911 – April 10, 1978) was an influential New York City talk radio show host.From the mid 1950s until his death in 1978, Nebel was a hugely popular all night radio host, with millions of regular listeners and what… …   Wikipedia

  • Long Wharf (New Haven) — Long Wharf is a waterfront district and neighborhood of the city of New Haven, Connecticut, United States.LocationIts location can be defined as the area stretching inland from the west side of New Haven Harbor northwest to Union Avenue, west to… …   Wikipedia

  • long-service — UK US adjective [before noun] HR, WORKPLACE ► relating to a situation in which someone has worked for a particular organization for a long time: long service award/benefits/leave »He received a £20,000 long service award after working 25 years… …   Financial and business terms

  • Long Oskar — was the nickname, given by the citizens of the city Hagen in North Rhine Westphalia, Germany, to the 101 meters high office building of the local resident municipal savings bank. The building was directly in the city centre of Hagen and was… …   Wikipedia

  • Long and Kees — Minneapolis based Long and Kees was an architectural firm that designed some of Minneapolis s most important historical buildings. It was named for its two proprietors, Franklin B. Long (1842 ndash;1912) and Frederick Kees (1852 1927). While the… …   Wikipedia

  • firm — [[t]fɜ͟ː(r)m[/t]] ♦ firms, firming, firmed, firmer, firmest 1) N COUNT A firm is an organization which sells or produces something or which provides a service which people pay for. The firm s employees were expecting large bonuses. ...a firm of… …   English dictionary

  • firm — I adjective 1) the ground is fairly firm Syn: hard, solid, unyielding, resistant; solidified, hardened, compacted, compressed, dense, stiff, rigid, frozen, set Ant: soft …   Thesaurus of popular words

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”