Archive | Jan 2006
Refco’s broker-dealer unit owes customers $4.16 billion
The unregulated broker-dealer unit of Refco Inc., Refco Capital Markets Ltd, says it owes customers about $4.16 billion. This is $486 million more than previously estimated by the parent company. Refco Inc. has filed for bankruptcy protection, and in those filings, it showed Refco Capital Markets owing $3.68 billion to customers. Total liabilities for the unit [...]
Continue reading...Sarbanes-Oxley cost versus benefit
02 Jan 2006
The New Yorker recently printed a commentary on Sarbanes-Oxley. While the legislation was viewed by politicians as an important step toward protecting investors from fraud, corporate executives aren’t so impressed. Corporate executives believe that the high cost of implementing the Sarbanes-Oxley regulations is not justified by the small benefits. The cost of implementation is particularly high [...]
Continue reading...- Mary Kay Cosmetics: Destroying half a million women a year
- A new pyramid scheme: United First Financial
- Ufirst Money Merge Account: Resistance is futile
- Vendor talks, Usana squawks
- The Sarah Palin pregnancy cover-up that wasn't (updated)
- $3,500 wasted with United First Financial, per Dave Ramsey
- What does Dave Ramsey think about United First Financial
- Why can't I pee on my neighbor's lawn?
- United First Financial agent compensation plan
- Searching for Shop to Earn scam
- Craig: In fact, Quicken and MS Money are far better quality products, and...
- Tracy Coenen: The sad thing is that the quality of the $200 product will be...
- Roger Carman: Ms. Tracy Coenen: Your research capabilities are non-existent....
- Susan: Hello, I am a Happy user of the MMA v4 product. Everyone has a right...
- The Stein: Wellllllllll….here is the another greedy and destructive...
- resident: Tracy, first off let me say thank you so much for all of your...
- mark: Classic, never sure why everyone is always bashing MLM’s. I have...
- Smarter than STE members: This is a very dangerous company. It has a genius...
- Jeff Bowyer: Timothy Sykes is a hypocrite. After I discovered severe...
- Mr Contrarian: good work tracy. I am a business blogger with no pro- or con-...
- United First Financial broker numbers and earnings
- No Surprise: The “bailout bill” is falling apart
- More gifts from the government for the financially irresponsible
- Credit card company bailout next?
- Election fraud and the future of America
- Why audits are near worthless (yes, internal audit too)
- Bailout head Neel Kashkari wants transparency (except when he doesn’t)
- Overstock.com executives subject to clawback provision in Sarbanes-Oxley?
- Milwauke Public Schools: Obscene property tax increase
- But there’s no evidence of voter fraud!
About the Author
Tracy Coenen is a forensic accountant and fraud examiner who investigates white collar crimes, including cases of financial statement fraud, embezzlement, tax fraud, and insurance fraud. She is the author of Essentials of Corporate Fraud and more than 100 articles on fraud featured in industry publications.
03 Jan 2006
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