Posted by Tracy Coenen on February 28, 2007 · Leave a Comment
This information was posted Monday on Blawgletter:
The Second Circuit today held an auditor potentially liable for federal securities fraud if it doesn’t correct a false or misleading report on its audit. The court said:
The precise issue on appeal is whether an auditor may incur primary liability under ยง 10(b) and Rule 10b-5 when [...]
Posted by Tracy Coenen on February 28, 2007 · Leave a Comment
Milwaukee alderman Michael McGee (Jackson) has been issued a restraining order for harassing Leon Todd, a man involved in the effort to recall McGee/Jackson and to expose him for the thug and scofflaw that he is. McGee/Jackson is notorious for his criminal behavior, and these threats come as no surprise.
The restraining order is currently temporary, [...]
Posted by Tracy Coenen on February 28, 2007 · Leave a Comment
Two facilities in Florida were raided in a steroid bust, and four people were arrested as a part of it. The raids happened at two Signature Pharmacy stores, and the company officials arrested were charged with criminal diversion of prescription medications and prescriptions, criminal sale of a controlled substance and insurance fraud.
The four officials who [...]
Posted by Tracy Coenen on February 27, 2007 · Leave a Comment
Kent Roberts, the former general counsel at McAfee Inc. (fka Network Associates) was charged with seven criminal counts of fraud, nine months after being fired for improper handling of stock options. The charges include manipulating the value of his own stock options to increase his profits and then falsifying records to cover up this misconduct. [...]
Posted by Tracy Coenen on February 26, 2007 · Leave a Comment
Welcome to our 25th Carnival of Fraud. Don’t forget to get in your submission for next week’s carnival.
Weboma discusses SiteAdvisor, a service from McAfee that supposedly analyzes websites and tells you how safe they are. The writer thinks that eventually all the major search engines will rely on SiteAdvisor to help determine website rankings.
Laura Ricci [...]
Posted by Tracy Coenen on February 24, 2007 · 1 Comment
Yes, you read that correctly. There’s fraud happening all over the internet, and blogs are no different. Recently I became aware of the fact that a blog post was published entitled “Great Mortgage Fraud Info THANK YOU Tracy Coenen.” I thought that was odd, as I don’t write about mortgage fraud.
I went and took [...]
Posted by Tracy Coenen on February 23, 2007 · 1 Comment
Japanese authorities are looking into the accounting practices of Sanyo Electric Co. The Securities and Exchange Surveillance Committee is investigating the company for allegedly misrepresenting losses in its results for the fiscal year ended March 2004. Sanyo had ?190 billion ($1.56 billion) in losses to book, but only booked ?50 billion of losses for that [...]
Posted by Tracy Coenen on February 20, 2007 · Leave a Comment
Is the regulatory response to past scandals softening? In the last few months, the SEC has eased guidance on Sarbox 404, the PCAOB has announced a potential repeal of AS2, the Department of Justice has renounced some of the tactics used to prosecute companies, and banking regulators have dropped plans to have banks police their [...]
Posted by Tracy Coenen on February 20, 2007 · 1 Comment
Since he can’t cry “racism” regarding his opponent in the upcoming recall election, Michael McGee Jackson is now resorting to accusing mythical figures of wrongdoing. The current alderman, with a history of very public acts of criminal behavior, is upset that the recall initiated by ViAnna Jordan is going forward. However, he has dropped his [...]
Posted by Tracy Coenen on February 19, 2007 · 1 Comment
Welcome to this week’s carnival!
Sox First discusses an interesting study on whistleblowers. It seems that whistleblowers have decreased since the implementation of Sarbanes-Oxley, which requires companies to implement anonymous reporting mechanisms (hotlines).
Home With the Kids brings up a scam that is quite similar to the usual Nigerian scam.
Stockmarket Beat highlights Applied Materials, a company in [...]
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