Tobashi scheme

Financial fraud through creative accounting where a client's losses are hidden

A tobashi scheme is a financial fraud through creative accounting where a client's losses are hidden by an investment firm by shifting them between the portfolios of other clients. Any real client with portfolio losses can therefore have its accounts flattered by this process. This cycling cannot continue indefinitely, so the investment firm itself ends up picking up the cost. As it is ultimately expensive, there must be a strong incentive for the investment firm to pursue this activity on behalf of its clients.

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