Blog
Reports Find Errors and Fraud in Small Business Administration Contracts
Excerpt: "Officials at the Interior Department said the inspector general’s report uncovered only $5.7 million in misdirected contracts. That was a small fraction of the agency’s overall small business contract awards, which totaled $1.39 billion in fiscal year...
Kremlin Rules – An Investment in Russia Gets Trapped in Kremlin’s Vise
The nytimes.com article by Clifford J. Levy seen here tells about William F. Browder, an international business man and how his Russian business was muscled out from under him by corrupt officials. Depending on who tells the story, either the Kremlin Fleeced Browder,...
Ralph Cioffi and Matthew Tannin
The Ex-Bear Sterns hedge fund managers who have already been indicted for fraud and conspiracy may see more charges put on them in the fall reports nytimes.com. They were originally accused of misleading investors about the health of two hedge funds that collapsed...
LGT Bank
The US, UK, Germany and other countries (Australia, Italy, France, Sweden, Canada, New Zealand, Spain and the Czech Republic) are looking into a bank in Liechtenstein where account holders are thought to have been evading taxes. The United Kingdom's tax...
Randall T. Treadwell, Ricky D. Sluder, Arnulfo M. Acosta, and Larry C. Saturday
Treadwell, Sluder, and Saturday were found guilty of wire fraud and conspiracy while Acosta pleaded guilty prior to the trial to conspiracy and making a false statement to a federal officer. In the indictment they were charged with fraudulently soliciting over $50M...
UBS to stop offshore banking for U.S. residents
Reuters reported today that UBS will no longer provide offshore banking and securities services to U.S. residents. They are also working with the U.S. government to identify U.S. clients who may have engaged in tax fraud. The full article can be read here.
Kun-hee Lee
The former chairman of Samsung will see fines of $ for tax evasion in Seoul.Lee was given a suspension of his three year term. After being ruled innocent of the more serious charges against him, the judge in the case ruled that his crime was not worthy of immediate...
Virendra Rastogi, Anand Jain and Gautam Majumdar
bbc.co.uk reports that the three former heads of RBG Resources will face a combined 25.5 years in jail for stealing $700M from creditors. By creating 300 false clients, they were able to convince banks to give them cash advances. The full larticle can be read here.