Posted by Tracy Coenen on May 31, 2006 · Leave a Comment
James Lewis Jr., the operator of one of the largest Ponzi schemes in U.S. history was sentenced to 30 years in prison last week. That was the maximum sentence that could be imposed. He was also ordered to pay $156 million in restitution.
The sentence comes after a guilty plea to one count of money [...]
Posted by Tracy Coenen on May 30, 2006 · Leave a Comment
According to an article on the Motley Fool site earlier this year, credit card debt is a huge problem. They say that Americans owe over half a trillion dollars in credit card debt. An analysis by the U.S. Public Interest Research Group and Consumer Federation of America shows that the average household has $10,000 [...]
Posted by Tracy Coenen on May 30, 2006 · Leave a Comment
The American Institute of Certified Public Accountants (AICPA) lost the social security numbers of all of its members earlier this year. I was notified of this via a letter dated May 8.
The organization offered its members one free year of credit monitoring, with the program available on May 23. Today I signed up for [...]
Posted by Tracy Coenen on May 30, 2006 · Leave a Comment
Yes, you read that correctly. A man in Milwaukee was stabbed last night in the chest after he and the suspect had an argument over a passage in the Bible. Wow.
Tags: Bible
Posted by Tracy Coenen on May 30, 2006 · Leave a Comment
Following the collapse of Enron Corp., Kenneth Lay and Jeffrey Skilling were still wealthy. (It seems they cashed in their stock options at just the right time.)
According to an August 2001 balance sheet, Lay owned many non-Enron stocks totaling $17 million, several vacation properties, 13 vehicles, a $10 million condominium in the River Oaks [...]
Posted by Tracy Coenen on May 28, 2006 · Leave a Comment
Cingular Wireless LLC has filed suit against insurance companies and brokers, alleging that the insurers paid over $1 billion in kickbacks to the brokers if sent business their way. The lawsuit names brokers Marsh & McLennan and Aon Corp, and insurers American International Group Inc. (AIG), Aetna Inc., Cigna Corp., The Hartford Financial Services [...]
Posted by Tracy Coenen on May 28, 2006 · Leave a Comment
Kim Kellbach, 48, has been charged with 3 felonies in Ozaukee County for stealing from her employer of 15 years. The charges include theft in a business setting, modifying computer data to commit fraud, and forgery, and carry penalties of up to 19 years in prison and $45,000 in fines.
The criminal complaint states [...]
Posted by Tracy Coenen on May 26, 2006 · Leave a Comment
Mary Ellen Wilson, age 56, pleaded guilty today to five counts of felony theft from her employer, Gentle Family Dentistry. She was charged with stealing $293,000, but the actual losses could be more than double that figure. Under a plea agreement, Wilson could be sentenced to five years in prison, five years of extended [...]
Posted by Tracy Coenen on May 26, 2006 · Leave a Comment
Wal-Mart is an easy target for those who want to bash “Corporate America”, big box retailers, or big business in general. While no one seems to complain when they’re at Wal-Mart’s checkout line and receiving low prices, that doesn’t stop some from complaining that the company isn’t giving their employees enough pay or benefits.
It’s [...]
Posted by Tracy Coenen on May 25, 2006 · Leave a Comment
Former employees of Enron were thankful and encouraged upon hearing that Kenneth Lay and Jeffrey Skilling were found guilty of felony charges of conspiracy and fraud. While nothing will give back all that they lost, the idea that “justice prevails” has encouraged the former employees.
Both defendants proclaimed their innocence and vowed to appeal [...]
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