MckMama Bankruptcy Update: Trustee Files Motion Objecting to Exempt Property

Whether or not you are a reader of MckMama (or mommy blogs in general), this post has good information on bankruptcy fraud.  Last week we looked at the bankruptcy filing of Jennifer Howe Sauls McKinney and Israel McKinney, and discussed the many red flags of fraud that have been detected. …

National Rural Utilities Cooperative Finance Corporation (CFC) Financial Statement Irregularities

The Daily Caller, a Washington D.C. based news site, recently reported allegations of bribery and corruption within the United States Department of Justice. This arises from a situation involving previous allegations of “financial irregularities” within the National Rural Utilities Cooperative Finance Corporation (CFC), dating back to the early 2000s. CFC …

MATC Fraud Went Undetected Until First Audit in a Decade

Karen Herzog, Milwaukee Journal Sentinel When a former Milwaukee Area Technical College employee used her MATC credit card to pay for a car, a wedding trip, computers, home furnishings and other personal items totaling $259,000, the purchases went undetected until the college’s first internal audit in a decade. The audit …

$849 Billion in Fraudulent Securities Bought By the Fed: What Are They Going To Do About It?

Guest post by Charles Seavey The Federal Reserve owns $849 billion in mortgage-backed securities. Total reserves are $2,872 billion, so mortgage-backed securities comprise 30% of reserves. (No wonder the dollar can’t bounce, even with Europe falling apart.) See: http://www.federalreserve.gov/releases/h41/Current/ To give a sense of the scale of this unprecedented investment …