Fraud charges against owner of Jackson Hewitt franchises

On Tuesday, the U.S. Justice Department filed civil injunctions against five Jackson Hewitt franchises, including the corporations that operate the franchises and 24 people who work at those franchises. The corporations in question operate over 125 Hackson Hewitt locations in Atlanta, Chicago, Detroit and Raleigh-Durham. Farrukh Sohail owns the five …

Stockbroker pleads guilty to money laundering

John Burch, a former stockbroker with Wachovia Securities, has pleaded guilty to federal charges of laundering over $300,000 received through bribery and racketeering. Burch opened multiple brokerage accounts during 2001, 2002, and 2003 to launder criminal proceeds from Milt Morris. Transactions were broken down into small deposits to hide the …

Wall Street Journal story reveals another Usana executive with falsified credentials

A story in the Wall Street Journal on Saturday reported on the Denis Waitley credential problem, as well as another Usana executive with credential problems. After trading closed on Friday, Usana announced that director Waitley was stepping down after an “error” with his credentials. The fact is that Waitley did …

Thou Shall Not Steal – Except in Accounting Class

Marquette students learn to detect fraud by thinking like crooks The Business Journal of Milwaukee By Jennifer Batog In a nondescript room on the third floor of Marquette University’s Straz Hall, a dozen students are learning how to steal. They’re learning how embezzlers skim money from cash registers, how corporate …

Fraud Found at Dell?

An “internal audit committee” at Dell Inc has found evidence of accounting errors and misconduct. The committee has been investigating accounting and financial reporting issues, which included examining historical earnings statements. A press release issued by Dell said the committee “…identified a number of accounting errors, evidence of misconduct, and …