by Justin Knapp | Apr 15, 2009 | Companies
Seven members of a Queens, NY church defrauded more than $12M from elderly parishioners. The SEC says that returns up to 75% were promised and the money was used to by luxury cars, jewelry, and for traveling. More can be read at crainsnewyork.com.
by Justin Knapp | Jan 17, 2009 | Companies, International, People
B. Ramalinga Raju may have taken up to $1B from the company rather than the initial claim that the company had made up the money. "Mr. Raju, who was Satyam’s chairman, said in a letter to the company’s board on Jan. 7 that about $1 billion of the company’s cash...
by Justin Knapp | Jan 8, 2009 | Companies, International
As Indian company Satyam tries to recover from the $1B loss of liquidity overnight due to fraud, Investors have their eyes on PricewaterhouseCoopers the accounting firm for the company. “Pricewaterhouse has signed the balance sheets, and so they are responsible if...
by Justin Knapp | Jan 8, 2009 | Companies, People, Religion
Mr. Piccoli and his company Gen-See Capital Corp. are being sued for operating a Ponzi scheme targeting Catholics. They placed advertisements in Catholic publications trying to lure investors. The SEC claims, however, that no money was actually being invested in...
by Justin Knapp | Dec 24, 2008 | Companies
Ford Errant Forecasting Hits Investors Missing Promised Profits. The article can be read here.
by Justin Knapp | Oct 20, 2008 | Companies
A New Jersey jury found that Parmalat, the Italian food and dairy company, had defrauded CitiGroup and awarded the bank $364.2 million in damages write Eric Dash of NYtimes.com. You can read the rest of his article at nytimes.com
