FraudBaron.com

SEC Provides Guidance to Open Up Use of Corporate Web Sites for Disclosures to Investors

sec.gov | 7/31/08 | Press Release

The Securities and Exchange Commission today voted unanimously to provide new guidance to public companies about how to comply with the securities laws while developing their Web sites to serve as an effective means for disseminating important information to investors.

Former park official faces $73,000 in embezzlement charges

yardkinripple.com | 7/30/08 | Andy Matthews

PILOT MOUNTAIN — A former superintendent of Pilot Mountain State Park is scheduled to appear in court next week on allegations that he embezzled more than $70,000.

Refco's ex-chief Bennett reaches settlement with SEC

news.yahoo.com | 7/31/08 | Chelsea Emery

Phillip Bennett, the former head of Refco Inc who was accused of orchestrating a fraud that led to the demise of the commodities broker, has reached a settlement with the U.S. Securities and Exchange Commission, according to court documents.

E*Trade to pay $1 million for money laundering lapse

reuters.com | 7/30/08 |  John Poirier

WASHINGTON (Reuters) - E*Trade Financial Corp agreed to pay $1 million to settle allegations that two of its brokerage firms failed to follow U.S. rules designed to thwart money laundering, securities regulators said on Wednesday.

Ringleader of $20 Million Bank Fraud Scheme Pleads Guilty

fbi.gov | 7/29/08 | Press Release

A Palisades Park man pleaded guilty today for orchestrating a bank fraud scheme involving approximately $20 million of fraudulent home equity and business lines of credit, U.S. Attorney Christopher J. Christie announced.

 

Ex-Enron exec will pay $31.5M to settle SEC charges

chron.com | 7/29/08 | Kristen Hays

The amount Lou Pai, 60, agreed to pay is the highest Enron-related settlement reached between an individual and the Securities and Exchange Commission, and the agency said it is one of the highest individual settlements in its history.

Mark Cuban Should Be Better Than This

fool.com | 7/29/08 |Bill Mann and Tim Hanson

We consider Mark Cuban a friend of the Fool. He's a passionate businessman and basketball team owner, a fiery commentator, and a generally interesting guy. But he's also prone to making bad decisions (see the Mavericks late-season trade for Jason Kidd) and even engaging in some questionable behavior.  July 23 provided an example of that latter point. His investigative financial blog Sharesleuth.com -- one that's dedicated to "exposing securities fraud and corporate chicanery" -- perhaps revealed that it's engaged in some chicanery of its own.

We consider Mark Cuban a friend of the Fool. He's a passionate businessman and basketball team owner, a fiery commentator, and a generally interesting guy. But he's also prone to making bad decisions (see the Mavericks late-season trade for Jason Kidd) and even engaging in some questionable behavior.  July 23 provided an example of that latter point. His investigative financial blog Sharesleuth.com -- one that's dedicated to "exposing securities fraud and corporate chicanery" -- perhaps revealed that it's engaged in some chicanery of its own.

SEC sues 2 Denver companies for fraud

 bizjournals.com | 7/30/08 | Staff Writer

The Securities and Exchange Commission has filed suit against two Denver companies and a handful of individuals, claiming they participated in a fraud scheme involving nonexistent high-yield bank notes.

School official pleads guilty to embezzlement

independenttribune.com | 7/29/08 | Josh Lanier

CONCORD - Former Carolina International School financial officer Sandra Vielbaum, who was charged with embezzling more than $137,000 from the Harrisburg school, pleaded guilty to eight counts of embezzlement Monday afternoon.

Former JPMorgan executive accused of embezzlement

reuters.com | 7/29/08 | Martha Graybow

A former JPMorgan Chase & Co private banking executive has been indicted on charges of embezzling about $5.4 million, according to federal court papers.