Operator of Ponzi Scheme Sentenced to 30 Years

James Lewis Jr., the operator of one of the largest Ponzi schemes in U.S. history was sentenced to 30 years in prison last week. That was the maximum sentence that could be imposed. He was also ordered to pay $156 million in restitution. The sentence comes after a guilty plea to one count of money … Read more Operator of Ponzi Scheme Sentenced to 30 Years

The AICPA’s band-aid to cover their loss of my personally identifying information

The [tag]American Institute of Certified Public Accountants[/tag] ([tag]AICPA[/tag]) lost the [tag]social security numbers[/tag] of all of its members earlier this year. I was notified of this via a letter dated May 8. The organization offered its members one free year of [tag]credit monitoring[/tag], with the program available on May 23. Today I signed up for … Read more The AICPA’s band-aid to cover their loss of my personally identifying information

The Dwindling Wealth of Kenneth Lay and Jeffrey Skilling

Following the collapse of Enron Corp., Kenneth Lay and Jeffrey Skilling were still wealthy. (It seems they cashed in their stock options at just the right time.) According to an August 2001 balance sheet, Lay owned many non-Enron stocks totaling $17 million, several vacation properties, 13 vehicles, a $10 million condominium in the River Oaks … Read more The Dwindling Wealth of Kenneth Lay and Jeffrey Skilling

Help! I’m Being Audited! Tips For Surviving A Tax Audit

iParenting.com
By Deborah Ng

When Lisa Keene received a notice from the IRS informing her of an audit, she started to panic. After she caught her breath, she called her accountant and read the notice to him. “You know, it really wasn’t too bad,” says Keene, a freelance writer from Central New Jersey. “All they wanted was for me to send the backup paperwork for some of my home office deductions. I can’t tell you how relieved I was.”

Keene was fortunate. For many others, an audit can take months or years to clear up.

Read moreHelp! I’m Being Audited! Tips For Surviving A Tax Audit

Cingular Sues Insurance Companies and Brokers For Fraud

Cingular Wireless LLC has filed suit against insurance companies and brokers, alleging that the insurers paid over $1 billion in [tag]kickbacks[/tag] to the brokers if sent business their way. The lawsuit names brokers Marsh & McLennan and Aon Corp, and insurers American International Group Inc. (AIG), Aetna Inc., Cigna Corp., The Hartford Financial Services Group Inc., and The St. Paul Travelers Companies Inc.

Read moreCingular Sues Insurance Companies and Brokers For Fraud

Woman Embezzles $100,000 From Psychiatrist

Kim Kellbach, 48, has been charged with 3 felonies in Ozaukee County for stealing from her employer of 15 years. The charges include theft in a business setting, modifying computer data to commit fraud, and forgery, and carry penalties of up to 19 years in prison and $45,000 in fines. The criminal complaint states that … Read more Woman Embezzles $100,000 From Psychiatrist

Former office manager of dental clinic pleads guilty to felony theft charges

Mary Ellen Wilson, age 56, pleaded guilty today to five counts of [tag]felony[/tag] theft from her employer, Gentle Family Dentistry. She was charged with stealing $293,000, but the actual losses could be more than double that figure. Under a [tag]plea agreement[/tag], Wilson could be sentenced to five years in [tag]prison[/tag], five years of [tag]extended supervision[/tag], … Read more Former office manager of dental clinic pleads guilty to felony theft charges

The reality of Wal-Mart’s profits

Wal-Mart is an easy target for those who want to bash “Corporate America”, big box retailers, or big business in general. While no one seems to complain when they’re at Wal-Mart’s checkout line and receiving low prices, that doesn’t stop some from complaining that the company isn’t giving their employees enough pay or benefits.

It’s easy to cite the “huge” profits of Wal-Mart, but no one stops to consider the details. Here are a few, thanks to Yahoo Finance. For the trailing twelve months the company had:

Read moreThe reality of Wal-Mart’s profits

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