FraudBaron.com

Accountant Accused of Embezzling from Two Organizations

washingtonexaminer.com | 4/28/09 | $550,000 | suspect:  Charles Joseph Clifton | victim: 

An accounting director is expected to plead guilty to embezzling more than $550,000 from his former employers, a District nonprofit and a trade association, according to court documents.

University employee sentenced for defrauding school

startribune.com | 4/28/09 | $120,000 | suspect:  Gayle J. Schmidt | University of St. Thomas

A former University of St. Thomas employee was sentenced Tuesday in federal court to 18 months in prison for defrauding the St. Paul college out of more than $120,000.

SEC Makes New Plans to Fight Fraud

online.wsj.com | 4/29/09 | SEC Fraud Prevention

The Securities and Exchange Commission, hoping for a better shot at catching the next big fraud, is working on plans to set up teams of specialists who focus on specific kinds of wrongdoing.

SEC Halts Beverly Hills Hedge Fund Fraud

sec.gov | 4/29/09 | $38 million | suspect:  Bradley L. Ruderman | victim:  Ruderman Capital Partners

The Securities and Exchange Commission today obtained a court order halting a fraudulent scheme in Beverly Hills, Calif., in which investors were coaxed into investing in two hedge funds that purportedly held more than $800 million in assets when in fact the funds lost money and have less than $1 million in assets.

Reno music store owner pleads guilty to bank fraud

rgj.com | 4/28/09 | $200,000 | suspect:  Thomas Lee Deatherage | victim:  Nevada State Bank

A Reno music teacher and store owner faces 60 years in prison after pleading guilty Tuesday morning in federal court in Reno to two charges of bank fraud.

Lawyer Dreier Will Plead Guilty to All Charges

bloomberg.com | 4/28/09 | suspect:  Marc Dreier

 Marc Dreier, the New York law firm founder accused of defrauding hedge funds, will plead guilty to federal charges including conspiracy and wire fraud next month, his lawyer said.

Five Charged in $70 Million “Dream Home” Mortgage Fraud Scheme

baltimore.fbi.gov | 4/27/09 | $70 million | suspects:  Andrew Hamilton Williams, Jr/Michael Anthony Hickson/Isaac Jerome Smith/Alvita Karen Gunn/Carole Nelson | victim: Metro Dream Homes

A federal grand jury has indicted five defendants for their participation in a massive mortgage fraud scheme that allegedly promised to pay off homeowners’ mortgages on their "Dream Homes," but left them to fend for themselves.

EBay Fraudster Sentenced for Advanced Fee Scheme

denver.fbi.gov | 4/24/09 | $252,349 | suspect:  Derrick Lee Swantz

Derrick Lee Swantz, age 57, of Lakewood, Colorado, was sentenced to serve 52 months in federal prison, followed in an advanced fee scheme that he perpetrated through eBay and AutoTrader.com.

“Wire-back” counterfeit check scheme

usdoj.gov | 4/23/09 | $1.7 million | suspect:  Nancy Alexander |

A federal judge today sentenced Nancy Alexander, 67, to a year in prison for a fraud involving about $1.7 million in counterfeit checks and money orders.  Alexander produced fraudulent checks on her computer and forwarded other checks that had been shipped to her from Nigeria.  The objective of the scheme was to have recipients of the counterfeit checks wire money to the perpetrators of the scam.

SEC Freezes Financier Pangs' Assets on Ponzi Allegation

ap.google.com | 4/28/09 | suspect:  Danny Pang | victim:  Private Equity Management

Danny Pang, a Taiwanese immigrant, founded a $4 billion international investment firm and moved in A-list social circles in Los Angeles. The SEC has accused Pang of bilking investors by falsely portraying returns as coming from investments in timeshare real estate and life insurance policies of seniors when in fact he ran a Ponzi scheme — using money raised from newer investors to pay earlier ones.  Federal regulators have won a court order freezing the assets Pang.