FraudBaron.com

Report Sketches Crime Costing Billions: Theft From Charities

nytimes.com | 3/29/08 | Stephanie Strom

The volunteer treasurer of the Madison County Humane Society in Indiana was charged this month with using $65,000 of the charity’s money to buy jewelry and makeup. In San Francisco, the chief financial officer of the Music Concourse Community Partnership was fired after he was accused of taking $3.6 million of the organization’s money to play the stock market.

Lehman to Sue Japan's Marubeni, Claiming Loan Fraud

bloomberg.com | 3/30/08| Oliver Biggadike

March 29 (Bloomberg) -- Lehman Brothers Holdings Inc. said it plans to sue Marubeni Corp., Japan's fifth-biggest trading company, to recover ``fraudulently misappropriated'' funds that newspaper reports say may amount to more than $250 million.

Theft from Green Bay golf club tees off investigation

greenbaypressgazette.com | 3/29/08 | Andy Nelesen

Federal and local authorities are investigating allegations of embezzlement at the Oneida Golf & Country Club of more than $1 million.

Springfield woman indicted in embezzlement

omaha.com | 3/27/08 |Kevin Cole

A Springfield, Neb., woman accused of embezzling more than $750,000 over five years from her employer is being held in the Pottawattamie County Jail.

Olathe man is charged in mortgage fraud

bizjournals.com |  3/27/08 | Staff Writer

An Olathe man stands accused of receiving $1.5 million in mortgage loans that were made on appraisals he allegedly falsified, federal prosecutors in Kansas said Thursday.

Executive Gets 15 Years for Stock Fraud

forbes.com | 3/27/08 | Associated Press

Prison time for the founder of a now-defunct cheese maker that went bankrupt following a stock fraud.

U.S. mortgage-fraud cost seen at $2.5 billion a year

reuters.com | 3/27/08 | Al Yoon Losses from mortgage fraud such as lying on loan applications and inflated appraisals will cost the industry about $2.5 billion annually for several years, according to a report published on Thursday.

 

 

JPMorgan to pay $2 mln to settle SEC fraud case

reuters.com | 3/27/08 | Karey Wutkowski

WASHINGTON (Reuters) - JPMorgan Chase & Co (JPM.N: Quote, Profile, Research) has agreed to pay $2 million to settle charges its subsidiaries helped now-bankrupt National Century Financial Enterprises carry out a fraud that resulted in $2.6 billion of investor losses, the U.S. Securities and Exchange Commission said on Thursday.

Race in Heels Trips Man on Workers Comp

ap.google.com | 3/29/08 | Staff Writer

HARTFORD, Conn. (AP) — Prosecutors say a video shows a Connecticut correction officer running a 40-yard-dash in women's clothing and high heels — at a time he had claimed he was too injured to work.

New Century Bankruptcy Examiner Says KPMG Aided Fraud

bloomberg.com | 3/27/08 | Tiffany Kary

March 26 (Bloomberg) -- New Century Financial Corp.'s bankrupt estate might have cause to sue its former accountant KPMG LLP and some directors and officers for improper accounting leading up to its bankruptcy, a court examiner said in a report.