Archive | Nov 2007
AllBusiness.com features Tracy Coenen’s Business Fraud Focus blog
I started blogging for AllBusiness.com at the end of September. My blog is called Business Fraud Focus. I am one of many bloggers on AllBusiness writing about issues that affect business owners and executives. The articles range from topics to help entrepreneurs start a business, to timely business issues in the news. My blog is [...]
Continue reading...Google Search: herbalife fraud
05 Nov 2007
Google Search: herbalife fraud Answer: Apparently so. See here and here. And come back to this blog frequently, because I will have regular updates that will be easily found with this link.
Continue reading...Brilliant comments about Herbalife
05 Nov 2007
A falling stock price is good! Allegations of fraud are good! Why? “When these business models are doubted, returns tend to be the greatest.” That’s a quote from an analyst. Fraud in China by Herbalife (NYSE:HLF) apparently equals “doubt about the business model” to him. Here are his statements as reported by the Associated Press: Goldman Sachs [...]
Continue reading...Press release on Herbalife investigation
05 Nov 2007
The Fraud Discovery Institute (FDI) has just released a report corroborated by video and audio evidence indicating that Herbalife LTD (NYSE:HLF), a multi level marketing company based in Los Angeles, California, has been operating an underground multi level marketing business in China where they are only licensed to “direct sell” products. The investigation also demonstrates [...]
Continue reading...Fraud Discovery Institute issues a report on Herbalife
05 Nov 2007
Multi-level marketing company Herbalife (NYSE:HLF) is the target of the most recent investigation done by Barry Minkow and Fraud Discovery Institute. A new website, Doomed By Design has been developed, and a written report has been released. A short video clip is included, and a full documentary will be released later this year. Herbalife is [...]
Continue reading...Primerica Financial Services a scam?
05 Nov 2007
Over on my consumer awareness site, Pink Truth, I have put together a few articles about Primerica Financial Services. Like Mary Kay, Usana, and Mannatech, Primerica is a multi-level marketing company (MLM). The big difference, however, is that these other companies have a tangible product for sale, and many of the abuses come from loading participants [...]
Continue reading...A little linky love for the Sheboygan Police Department
03 Nov 2007
Let’s all join in now, shall we? Here ya go, Sheboygan Police Department. Sheboygan officials must not be able to come up with any better ways to waste taxpayer money. In lieu of better ideas, they’re trying to get people to stop posting links to the police department. And no, I’m not kidding. The Sheboygan Press gives [...]
Continue reading...UPDATE: Amex Slaps Best Buy, Obtains Refund For Reader’s Box Of Tile Hard Drive
01 Nov 2007
We love a happy ending. Sam has written in with the good news that Amex was able to get a full refund from Best Buy after they sold him a box of bathroom tiles instead of a hard drive. read more | digg story
Continue reading...New York CPA Society a little late to the game
01 Nov 2007
Fifteen years after his felony conviction for securities fraud, the New York State Education Department - Office of Professional Discipline is finally taking away Sam Antar’s CPA license. Sam pleaded guilty to three felonies in 1992. He didn’t renew his CPA license after that, assuming his license would be taken away anyway. When a CPA [...]
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.
05 Nov 2007
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