More on fraud at Koss Corp.

Posted by Tracy Coenen on December 29, 2009 · 2 Comments 

Today’s Milwaukee Journal Sentinel provides additional insights into the alleged fraud committed by Koss Corp. VP of Finance Sue Sachdeva. Initially the fraud was estimated at $4.5 million, but that was quickly revised upward to more than $20 million.  It is alleged that Sachdeva spent millions in corporate funds on clothing, jewelry, and other items.
My [...]

Barry Minkow busts another fraudster

Posted by Tracy Coenen on December 28, 2009 · 1 Comment 

As if uncovering more than $1.8 billion in frauds hasn’t been enough, Barry Minkow (famous for his ZZZZ Best Carpet Cleaning fraud for which he did 8 years in prison) has just busted another fraudster who was running a Ponzi scheme.
Dow Jones Newswire reports:

Financial motive for arson?

Posted by Tracy Coenen on December 27, 2009 · 1 Comment 

One type of case I really enjoy working is suspected arson. On either a personal or business level, an insurance company may be looking for a motive when arson is supsected. A difficult financial situation is one obvious motive for arson.
Today’s article about a fire at the house of a women accused of defrauding Wisconsin’s [...]

How the VP of Finance at Koss steals millions

Posted by Tracy Coenen on December 26, 2009 · 3 Comments 

This week Koss Corp (NASDAQ:KOSS) announced that Sujata “Sue” Sachdeva was fired from her position as Vice President of Finance for stealing at least $4.5 million from the company. Two members of the accounting staff Sachdeva supervised were suspended without pay.
And then the estimate of losses went up to $20 million. The theft occurred between [...]

Any way you slice it, the UFF Money Merge Account loses

Posted by Tracy Coenen on December 21, 2009 · 3 Comments 

Anyone who has spent some time on this site knows I’m no fan of the United First Financial Money Merge Account (UFF MMA).  This “revolutionary” software is supposed to help you pay off your mortgage in record time, all for the low, low price of $3,500. Unfortunately, it’s being marketed with lies, and the UFF [...]

Why does the U.S. Postal Service exist?

Posted by Tracy Coenen on December 19, 2009 · 36 Comments 

Back in the day, a government-run delivery service was a good idea. It put some quality controls in place and made the service more reliable. People could actually count on their letters getting to their final destination.
But in this day and age, the U.S. Postal Service is no longer needed, and I suggest that we [...]

Complaint filed with FTC about Facebook “privacy” changes

Posted by Tracy Coenen on December 18, 2009 · 1 Comment 

I’ve been ranting publicly and privately for the last week about Facebook’s new “privacy” options that went into effect last week. I put privacy in quotes because the way things were set up, many Facebook users had information out in the public domain, and they didn’t even know it.
The biggest issue for me was that [...]

InterOil’s Senior Manager for Media Relations sends email threats to Fraud Discovery Institute co-founder

Posted by Tracy Coenen on December 16, 2009 · 2 Comments 

Press release issued by Fraud Discovery Institute.
FDI demonstrates that InterOil (NYSE:IOC) selectively excludes certain issued press releases from regulatory filing
Susuve Laumaea, Senior Manager for Media Relations at InterOil (NYSE:IOC) in Papua New Guinea has issued at least two press releases on behalf of InterOil Corporation dealing with material exploration operations in PNG, but neither of [...]

The continuing Mary Kay Cosmetics con

Posted by Tracy Coenen on December 15, 2009 · 11 Comments 

My most popular post on this blog is Mary Kay Cosmetics: Destroying half a million women a year, and with good reason. Each day, thousands of women are searching for information on the Mary Kay “opportunity.” Until a few years ago, the only information they could find was produced by the Mary Kay Spin Machine.
Almost [...]

Fraud Discovery Institute challenges three month, 132% increase in InterOil Corp’s stock price by demonstrating sleight of hand in recent press releases

Posted by Tracy Coenen on December 14, 2009 · 1 Comment 

Press release issued by Fraud Discovery Institute.
InterOil Corp’s investors duped into believing company has discovered and certified resources in Papua New Guinea
In the last three months, the stock price of InterOil (NYSE:IOC) has gone from $30.40 to $70.55 per share. What is responsible for this incredible 132% increase in price? Certainly not the company’s [...]

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