Don't Lie, Cheat or Steal

My first boss told me I could take risks and make mistakes but if I were to lie, cheat or steal I would be fired. Simple and solid advice for a young man out of college (thanks Tim).

This litmus test has served me well, and while some may argue that it is as obvious as looking both ways before you cross the street, I offer you some examples from today’s news:

Plastic Surgery Device Company Settles Case of Reviews It Faked
http://www.oag.state.ny.us/media_center/2009/july/july14b_09.html

Madoff starts 150-year sentence at NC prison
http://news.yahoo.com/s/ap/20090715/ap_on_re_us/us_madoff_behind_bars_7

Mortgage fraud is expected to escalate
http://www.lasvegassun.com/news/2009/jul/17/mortgage-fraud-expected-escalate

Banned NY clinic owner faces new $47M fraud charge
http://www.newsday.com/news/local/newyork/ny-nyclinic0717,0,1524749.story

Stanford’s $7 Billion Fraud Trial Delayed
http://www.bloomberg.com/apps/news?pid=20601103&sid=aW537JwPznUk

My advice to entrepreneurs:

-Tell the truth
-Do background checks on all employees and contractors
-Trust but verify

Darik