William Joachim of West Phoenix had been arrested on suspicion of using Brett Favre’s credit card over 40 times. He was arrest on four felony charges related to identity theft. Two other men were also arrested in the case, and have been booked on forgery charges. The 40 unauthorized charges happened in Maricopa County, and … Read more Green Bay Packers Fraud: Brett Favre’s Identity Theft
On Balance – The Magazine for Wisconsin CPAs – January/February 2006
By Colleen Smith
Like a Perry Mason movie brought to life is the way some forensic accountants describe their jobs. Investigations and courtrooms are part of their everyday lives, but the glamour is an illusion.
“I spend lots of time digging through boxes, getting dirty, making copies and doing other less-than-desirable tasks,” says Tracy L. Coenen , CPA, MBA, CFE, of Sequence Inc. in Milwaukee.
Written by Tracy L. Coenen, CPA, CFF
On Balance – The Magazine for Wisconsin CPAs – January/February 2006
It felt like my gut had been ripped out. Fifteen years of our lives went down the drain. He took our trust and forever altered the way we view the world.
Thief on board
After 10 years in business we decided to grow our company. To do this, we needed to hire someone with financial expertise. I’m an engineer, not an accountant, so we hired a CFO named David and trusted him to protect our money.
Read moreOffice Piracy: A Trusted Employee Becomes a Worst Enemy
After 10 long years, a small company in New Hampshire has been cleared to continue using the name Charbucks for its coffee. The New York federal court ruled that the market would not be confused between Starbucks and Charbucks, and that Starbucks hadn’t proven that the other name tarnished its brand. Hmmmm…wonder how their coffee … Read more Charbucks, anyone?
Written by Tracy L. Coenen, CPA, CFF
Wisconsin Law Journal
Reprinted in Kansas City Daily Record and St. Louis Daily Record
Fraud is an industry unto itself, causing annual losses to United States companies totaling at least $660 billion. While it’s easy to focus on the big losses incurred by the likes of Enron, Tyco, and WorldCom, no company is immune to the problem. Companies of all sizes are vulnerable, even though their risks may be different.
Yesterday it was reported that a man in New Mexico caught a mouse in his house, threw it on a pile of burning leaves, and the flaming mouse ran back into the house. The house completely burned down. Today it has been reported by WSB-TV in Atlanta that it didn’t really happen that way. The … Read more Urban Legend: Mouse Fire House Fire
Thomas Coughlin, the former Vice Chairman of Wal-Mart Stores Inc. will plead guilty to federal charges of wire fraud and tax evasion. He was accused of stealing $500,000 through the improper use of gift cards and expense reimbursements. Mr. Coughlin’s compensation was millions of dollars, but was nonetheless caught having the company pay for personal … Read more Former Wal-Mart Vice Chairman will plead guilty
Leslie John Hamilton was sentenced to 30 years in prison for masterminding a pyramid scheme that he claimed was an investment in rare coins. The scheme involved over 300 victims, who lost more than $10 million. Hamilton was convicted by a federal jury on 28 counts of mail fraud and wire fraud, after representing himself … Read more Milwaukee Fraud: Convicted Con Artist Gets 30 years
The U.S. Department of Housing and Urban Development (HUD) announced today that over 28,000 home mortgages were approved and federally insured with forged underwriting approvals by lender ABN AMRO Mortgage Group of Ann Arbor, Michgan. From 2000 to 2003, ABN AMRO pushed through thousands of loans without getting Federal Housing Administration review, as required. Employees … Read more Home mortgage fraud
Last week the Wisconsin Law Journal published an article I wrote about the fraud at Milwaukee-area home builder Bielinski Brothers Inc. The company’s CEO, Robert Brownell, was the mastermind of a fraud that cost the company an estimated $12 million. There were several players charged with federal crimes, along with Brownell, and most have pleaded … Read more Lessons learned from Bielnski Brothers