Archive | Jul 2007
Most Usana distributors won’t get their money back
An article in New Zealand’s National Business Review sheds new light on the fight to bring down Usana Health Sciences. Since Barry Minkow and the Fraud Discovery Institute released the report on an extensive investigation of Usana, supporters of Usana have cited a profit motive on the part of Barry. Yet this article reveals that Barry [...]
Continue reading...Book Publishing: More on securing my publisher
12 Jul 2007
When I decided that I wanted to get serious about securing a publishing contract, I knew that John Wiley & Sons was my first choice. In my industry, I believe there is no better publisher to work with. They have phenomenal marketing capabilities and an industry-wide respect that gives added credibility to their publications. Other [...]
Continue reading...2.3 million consumer credit records stolen
12 Jul 2007
An employee at Certegy Check Services, Inc., a subsidiary of Fidelity National Information Services, stole 2.3 million consumer records that included credit card, banking, and other personal information. The employee then sold the information to a data broker, who sold it to direct marketing companies. Certegy says the data was not used for identity theft [...]
Continue reading...Blackmailing Miss New Jersey
11 Jul 2007
UPDATE: I’ve seen the photos, and they’re not particularly lewd and not really offensive. They’re essentially pictures of her drinking with friends and making suggestive (but fully clothed) poses. I can see why Miss NJ thought they were embarrassing and didn’t want them revealed. Someone has taken copies of photos from a private website belonging to [...]
Continue reading...Alderman Michael McGee to be held in jail until trial
10 Jul 2007
The federal judge has spoken. There will be no bail after all for Junior McGee. Chief Judge Rudolph T. Randa ruled today that McGee will remain in federal custody until his trial. The judge said that if McGee was allowed out of jail, he would likely intimidate witnesses. A federal grand jury issued an indictment today [...]
Continue reading...How many more ways can “The Alderman” break the law?
10 Jul 2007
Following his lengthy history of in-your-face law-breaking, Milwaukee alderman Michael McGee Jr (also known as Michael Jackson, depending upon the day and the crime being committed) has been intimidating witnesses from jail. Is anyone surprised anymore when he blatantly breaks the law in front of law enforcement officers??? In the never-ending saga of “what did he do [...]
Continue reading...Milbers Weiss partner pleads guilty
10 Jul 2007
David Bershad, former senior partner at Milberg Weiss & Bershad LLP, has pleaded guilty to conspiracy in federal court. He admitted to concealing secret payment agreements with plaintiffs in class action suits, and will forfeit $7.75 million and pay a $250,000 fine. Bershad could receive up to five years in prison, but if he cooperates [...]
Continue reading...Book Publishing: Pitching your book to a publisher
09 Jul 2007
You’ve identified some publishers that might be a good fit for you and your book idea. Now you have to decide how you’re going to approach the publisher. Will you write the book and try to pitch the manuscript to publishers? Or will you write a book proposal and submit it to publishers for consideration? [...]
Continue reading...Wisconsin Democrats want to stick it to us again
09 Jul 2007
When did we decide that people had no responsibility to care for themselves? I’m all for helping the “less fortunate,” but there comes a point where people must do everything in their power to take care of themselves. Government-run healthcare would be beyond a disaster for all of us. When has the government ever done [...]
Continue reading...The 42nd Edition of the Carnival of Fraud
09 Jul 2007
Leon Gettler at Sox First is blogging about detecting fraud. He mentions a study, Predicting Material Accounting Manipulations, and says the following about it: “A new study reveals that price-earnings ratios and market-to-book ratios are unusually high prior to the fiddling of the books. Also, firms that engage in this sort of activity have had [...]
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
- Vendor talks, Usana squawks
- United First Financial agent compensation plan
- Why can't I pee on my neighbor's lawn?
- 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
- Searching for Shop to Earn scam
- Tracy Coenen: Detecting fraud is not an objective of audits. In fact, the...
- Craig Hansen: Joe beat me to it. If you really can cut your mortgage from 24...
- JoeTaxpayer: How’s that? Without even looking at a calculator, I can...
- Charles: Tracy - detecting fraud is one objective of an audit. I agree it is...
- Howard: You have no idea what u are talking about. I signed up for UFF and...
- Tracy Coenen: Charles - You may not go so far as to say that, but I will and...
- Charles: Tracy - I would not go as far as saying audits do “little to...
- Tracy Coenen: Here’s a good sample engagement letter:...
- Tracy Coenen: Thanks for your insightful comments Charles. The peer reviews...
- Tracy Coenen: No, they are not. I will post a letter or two.
- Planned Parenthood violating Indiana’s sexual abuse laws
- More public company executives with falsified credentials
- MPS spending hundreds of thousands of dollars on consultants who will tell them they suck
- Milwaukee Public Schools wasteful spending exposed
- The Overstock.com train wreck continues
- 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
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.
13 Jul 2007
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