The future of Sarbanes-Oxley

According to the Houston Chronicle, the Free Enterprise Fund filed suit in Federal court this week against the Public Company Accounting Oversight Board (PCAOB). The lawsuit seeks to revoke the authority of the board, based upon the argument that it violates the Constitution’s mandate of separation of power between the three branches of government. Sarbanes-Oxley … Read more The future of Sarbanes-Oxley

AIG to settle for $1.5 billion soon

American International Group Inc. (AIG) is close to settling their case with the SEC and the New York State Insurance Department for $1.5 billion. This settlement includes penalties as well as disgorgement of ill-gotten gains. In May, the SEC accused two former executives of AIG of accounting fraud to enhance the company’s performance figures. This … Read more AIG to settle for $1.5 billion soon

Museum Forensic Audit Will Reveal Corruption, If There Is Any

WisOpinion.com
By Robert Miranda

Supervisor James G. White’s resolution calling for Milwaukee County to hire an independent firm to do a forensic audit of the Milwaukee Public Museum finances has been unanimously approved this week by the Milwaukee County Board.

Read moreMuseum Forensic Audit Will Reveal Corruption, If There Is Any

ChoicePoint settles data security case

ChoicePoint Inc., a commercial data broker, has agreed to pay $15 million to settle charges of violating consumer privacy rights. $10 million will be paid as a penalty to the government, with $5 million going to 800 individuals who had their identities stolen as a result of ChoicePoint’s actions. In addition, ChoicePoint must change it … Read more ChoicePoint settles data security case

Tiffany lawsuit over eBay fakes

Tiffany & Company is going to court against eBay, alleging that the online auction service allows sellers to list counterfeit Tiffany jewelry. The suit also alleges that eBay makes millions of dollars in fees from the auction of counterfeits. Tiffany bought several hundred items on eBay, all listed as “Tiffany”. 75% of those items were … Read more Tiffany lawsuit over eBay fakes

Milwaukee Fraud: Founder of Arabian Fest sentenced to prison

The founder of Milwaukee’s Arabian Fest has been sentenced to 3 years in prison for stealing $75,000 of federal block grant money. He must also pay $75,000 in restitution and a fine of $1,000. Mhammad Abu-Shawish got a sentence on the high end because the judge believed he lied while testifying in his trial this … Read more Milwaukee Fraud: Founder of Arabian Fest sentenced to prison