FraudBaron.com

Fraud Hotline Calls Up During Recession

time.com | 5/20/09 | Fraud Detection

According to a report out May 20 from the Network, a U.S. firm corporate-governance hotlines, fraud-related calls amounted to 21% of all reports in the first quarter of this year, up from 14% in the same period in 2007.

SEC Sues Eight in Three States in Penny Stock Ring

bloomberg.com | 5/27/09 | $6.2 million

The U.S. Securities and Exchange Commission sued eight people in Florida, California and Delaware, claiming they generated more than $6.2 million in illicit profits by manipulating stock prices in four companies. 

Eighteen charged in NY bank fraud, ID theft scheme

reuters.com | 5/27/09 | $1 million |

Prosecutors in New York said on Wednesday they have indicted 18 people for operating a bank fraud and identity theft scheme that resulted in the cashing of more than 1,000 counterfeit checks at several large banks.

Mobile Phone Location Technology Prevents ID Theft

pcworld.com | 5/26/09 | ID Theft

Ericsson is courting major banks with a security service the company thinks could cut down on credit card fraud as well as eliminate an inconvenience for travelers using cards overseas.

SEC Halts Trading of Fund Operated by Texas A&M Professor

sec.gov | 5/26/09 | $19 million | suspect:   Robert D. Watson | victim:  Private FX Global One Ltd.

The SEC has frozen the assets of Texas A&M finance professor Robert D. Watson, Houston lawyer and certified public accountant Daniel J. Petroski, and two firms. They are charged with defrauding U.S. investors by using forged bank records to make it appear they were earning spectacular returns in foreign exchange trading.

President Signs New Laws to Prevent Contract Fraud

law.com | 5/26/09 | Fraud Prevention

President Obama signed a new law that, besides mainly targeting economic stimulus fraud, broadens the liability of businesses for defrauding the government in a host of other areas.

Swiss Bank Returns Madoff Funds

bloomberg.com | 5/26/09 | suspect:  Bernard Madoff

 Banco Santander SA, Spain’s biggest bank, agreed to pay $235 million to the trustee liquidating Bernard Madoff’s defunct money-management firm to settle claims related to Madoff investments by two of its hedge funds.

$200M CA Real Estate Ponzi Scheme Uncovered

sfgates.com | 5/24/09 | $200 million | suspects:  Koenig, Armitage, Guidi

Three Northern California men accused of having "callously swindled" thousands of people out of more than $200 million in an alleged Ponzi scheme were arrested .

Fishy Accounting Used in Restaurant Embezzlement

omaha.com | 5/24/09 | $154,000 | suspect:  Cynthia Jameson | victim:  Joe Tess Place

Federal authorities say a woman who worked at Joe Tess Place, a landmark local seafood joint, was up to something slimy.

Title Co. President Misappropriates from Customer Accounts

newyork.fbi.gov | 5/24/09 | $2.2 million | suspect:  Brian Madden | victim:  Liberty Title Agency

BRIAN H. MADDEN, who controlled and operated three title insurance agencies in New York, was arrested for misappropriating millions of dollars of escrow and other client funds and embezzling a portion of those funds for his own benefit.