Archive for the ‘1’ Category
Fraudster-In-Law
One man falsified corporate books after embezzling $645,000 over a 12-year period. The scam was uncovered by the company’s CEO, who coincidentally happens to be the man’s brother-in-law, when he installed surveillance cameras only to find the thief ripping up receipts and stashing cash payments into a backpack.
Jack of All Trades, Master of None
A California Lamborghini dealer is facing charges this month for scamming the financing company that gave him millions to purchase the luxury sports cars and put them on his lot. He deceived the company into thinking he hadn’t yet sold the cars while he secretly used the profits to pay off debts in his other businesses including another car dealership, commercial real estate, and a wine vineyard.
The Woman Who Cried Cancer
A Fortune 500 company in the medical industry was supportive when one of its employees used her sick days for cancer treatments. The support turned to disdain when they found out that the “cancer treatments” were actually hotel spa treatments for the perfectly healthy employee. Worse, the so-called patient charged these visits to her corporate credit card, disguising them as legitimate travel charges.
Software execs sentenced in fraud case
Guilty for inflating revenue numbers to attract venture capital. Read more on CNBC.com.
CFO of Crazy Eddie, a fraud mastermind
This blog of Sam Antar’s insights on fraud today is very interesting as is his entire story. http://whitecollarfraud.blogspot.com/
More than Madoff: Fraud from around the world
We are seeing lots of fraud in the real estate and financial services sector not just in the U.S. To read more, click here.
Doc pleads guilty to $6m fraud
Dr. Weinstein was cooking the books. Look here in the Chicago Sun Times.
Seven charged in bank fraud case
This is a classic example of needing continuous controls monitoring to look at every transaction, not just a sampling. We find those needles in the haystack. And other banks need to take note as it could be happening to them. Read more here.
Arraignment of Businessman Over $6.6M Fraud
Writing dud checks http://tinyurl.com/dbajmf
Atlanta woman guilty in VA fraud scheme
A former Department of Veterans Affairs (VA) social work associate in Atlanta was convicted Thursday on four counts of honest services mail fraud, violating the criminal conflict of interest statute and making a false statement to agency officials. She and her boyfriend created and ran a scheme to defraud the VA. http://tinyurl.com/b6sjg2