Archive | Feb 2007
Hedge fund manager indicted in $88 million fraud scheme
Federal charges were filed against former hedge fund manager John Wittier of Hailey, Idaho, for a securities fraud scheme that created losses of $88 million. He has been charged with one count of securities fraud, one count of failing to make an SEC filing disclosing the beneficial interest of 5% or more in a publicly [...]
Continue reading...Carnival of Fraud 22
05 Feb 2007
Welcome to week 22 of the Carnival of Fraud!!! Howtowheelchair.com discusses a former miner receiving disability payments as he was supposedly unable to work because of a back injury, yet the man was busy running marathons. The man has received a 10 month prison sentence for his fraud. Last week Stock Market Beat posted an article criticizing [...]
Continue reading...Think like a thief
04 Feb 2007
My column in tomorrow’s Wisconsin Law Journal is entitled Be Prepared: Think Like a Thief. The article discusses the fraud triangle and how employers might use that to help their fraud prevention efforts. In order to prevent fraud, one must understand the pieces of the fraud puzzle. The fraud triangle consists of three parts, [...]
Continue reading...Coca-Cola ex-secretary found guilty in trade secrets case
03 Feb 2007
Joya Williams, the Coca-Cola secretary who was accused of steading trade secrets from Coca-Cola and plotting to sell them to Pepsi, has been found guilty of conspiracy. The jury deliberated for 11 1/2 hours before reaching a verdict. Williams was the secretary to Coca-Cola’s global brand director until the allegations of trade secret theft. It [...]
Continue reading...More on resume fraud
03 Feb 2007
Yesterday I mentioned that the research staff at the Association of Certified Fraud Examiners (ACFE) published some interesting facts about r?sum? fraud. The staff points out some ways to detect and prevent this type of fraud: Records of education rather than degrees: Applicant emphasizes everything about her or his education, except the actual degree that was [...]
Continue reading...Resume fraud?
02 Feb 2007
The Association of Certified Fraud Examiners (ACFE) recently published an interesting piece on r?sum? fraud. I have always been amazed how often in my fraud examination practice I’ve found that perpetrators of fraud also lied on their r?sum?s. I’m not so amazed that they lied, rather that the employer didn’t verify the r?sum? [...]
Continue reading...Dell accused of kickbacks and improper accounting
01 Feb 2007
An investor group has filed a lawsuit in U.S. District Court in Austin, Texas against Dell Inc., accusing the company of improper accounting practices as well as taking kickbacks. The lawsuit alleges that Dell has been inflating its profits by hundreds of millions of dollars due to this scheme. It is alleged that Intel was [...]
Continue reading...- A new pyramid scheme: United First Financial
- Mary Kay Cosmetics: Destroying half a million women a year
- Ufirst Money Merge Account: Resistance is futile
- The Sarah Palin pregnancy cover-up that wasn't (updated)
- What does Dave Ramsey think about United First Financial
- Vendor talks, Usana squawks
- United First Financial agent compensation plan
- Why can't I pee on my neighbor's lawn?
- $3,500 wasted with United First Financial, per Dave Ramsey
- Searching for Shop to Earn scam
- Tracy Coenen: Oh.. And if you really want to pay $3,800 toward your mortgage...
- Tracy Coenen: Maurice - You’ve fallen for their crap. $5,000 on your...
- maurice: Tracey, Again, I’m not in favor of purchasing software or...
- Tracy Coenen: Well Paul, you apparently agree with me as well. This has been...
- Paul Haley: Has anyone here actually read anything I’ve written any...
- Tracy Coenen: So what Paul is saying is that there is some link between human...
- Lee D: Climate Change is Identity Politics at it’s highest level. And...
- Duped: Good gracious! Sounds like we have another Al Gore here....
- Paul Haley: Lee, There’s no straw man there. Man wasn’t...
- Lee D: Way to mix affirming the consequent with a straw man argument, Paul....
- SEC employees more worried about future careers than actual enforcement?
- “Climate change”: Just another fraud on consumers
- Latest numbers: MPS still sucks
- Property tax sticker shock
- More TARP secrecy
- Bernard Madoff Ponzi scheme investor losses: Recovery?
- Barry Minkow and Fraud Discovery Institute release proof of James Peterson’s (Microsemi Corp) lies
- James Peterson expands the lie; Microsemi board doesn’t care
- Planned Parenthood violating Indiana’s sexual abuse laws
- More public company executives with falsified credentials
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.
06 Feb 2007
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