• Felons Employed by the University of Wisconsin System

    A Legislative Audit Bureau report on the UW System’s employment practices shows that the system employed 40 felons currently under supervision this past fall. (An Associated Press report states 40 felons work for the UW System, but the truth is […]

  • Enron Raided Reserves to Boost Earnings

    Wesley Colwell, the former head of accounting of Enron’s wholesale energy unit testified that in July 2000, he shifted $14 million from reserve accounts to pump up earnings. He also testified that neither Kenneth Lay nor Jeffrey Skilling directly told […]

  • Anna Nicole Smith’s Case Finally Gets to the Supreme Court

    Anna Nicole Smith (real name Vickie Lynn Marshall) was a 26 year-old stripper when she met 89 year-old millionaire Howard Marshall. They met at Anna’s workplace, and adult club, and married in 1994. Howard died in August 1995, 14 months […]

  • Denial of Service attacks are affecting e-commerce

    Distributed Denial of Service (DDOS) attacks have been wreaking havoc with e-commerce sites. These attacks bombard sites with so much internet traffic, that their regular customers cannot get through to do business with them. Hackers get into computers and turn […]

  • H&R Block incorrectly calculates its own taxes!!!

    The tax preparation company of H&R Block Inc. has incorrectly calculated its own state taxes. A mistake in calculating its state effective income tax rate means that the company owes $32 million in back taxes that go back to 2004. […]

  • KMPG partners agree to SEC penalties

    Four KPMG (and former KPMG) partners have agreed to SEC fines for their failure to detect a multi-billion dollar accounting fraud at Xerox Corp. Two of the four will pay the SEC $150,000 each, the largest fines ever imposed against […]

  • IRS Owes Taxpayers $2 Billion

    Every year, taxpayers lose refunds they’re entitled to because they haven’t filed tax returns. Currently, the IRS owes over $2 billion to 1.7 million people for the tax year of 2002. But they can’t get the refunds unless they file […]

  • Lawsuit over McDonald’s french fries

    At least three lawsuits have been filed against McDonald’s Corp. over ingredients in its french fries. McDonald’s website previous indicated that the french fries were free of gluten and milk or wheat allergens. The site now states “contains wheat and […]

  • Merrill Lynch settles 23 class action lawsuits

    Merrill Lynch & Co. Inc. will pay $164 million to settle 23 class action suits related to it cover of internet companies. It was alleged that during the dot com boom, Merrill Lynch analysts had conflicts of interests and gave […]

  • SEC Alleges That KPMG Auditors Ignored Red Flags

    The Securities and Exchange Commission has alleged that two KPMG auditors, Kevin Hill and Rosemary Meyer, ignored fraud red flags during their audit of U.S. Foodservice Inc., a subsidiary of Ahold NV. It is further alleged that the auditors violated […]