Merge Discloses Accounting Errors and Irregularities

Merge Technologies Inc. disclosed in its 2005 financial statement filings with the SEC that company executives had bypassed [tag]internal controls[/tag] over the accounting function in order to inappropriately increase revenue and profits since 2002. Correcting these [tag]irregularities[/tag] decreases the company’s profits for those years. Experts are a bit surprised that the company is admitting to … Read more Merge Discloses Accounting Errors and Irregularities

Polygamist and Fugitive Warren Jeffs Apprehended

Warren Jeffs, a known polygamist and fugutive, was caught this week after the Cadillac Escalade in which he was riding was pulled over by the Nevada Highway Patrol.

The trooper who pulled over the vehicle said something didn’t seem right as soon as he approached the vehicle. The FBI arrived on the scene and found 3 wigs, 15 cell phones, letters to “President Warren Jeffs,” $54,000 in cash and $10,000 in gift cards.

Read morePolygamist and Fugitive Warren Jeffs Apprehended

Still Nothing Done in the Milwaukee Public Museum Scandal

Back in January of this year, County Board Supervisor James White suggested that the Milwaukee Public Museum be subjected to the scrutiny of a [tag]forensic audit[/tag]. The museum’s coffers had been emptied by incompetent and possibly corrupt employees.

At that time, Assistant District Attorney David Feiss claimed that he was conducting an investigation of his own that would be quickly wrapped up. He said within a month. Here we are, seven months later with no results from him or the Milwaukee District Attorney’s office.

Read moreStill Nothing Done in the Milwaukee Public Museum Scandal

Former Milwaukee police officer Jon Bartlett is going to prison

Former Milwaukee [tag]police officer[/tag] Jon Bartlett has been sentenced to 4 1/2 years in prison following his convictions on [tag]felony[/tag] charges related to [tag]bail jumping[/tag] and threatening to blow up the police station where he used to work. Judge David Hansher called Bartlett a “menace to society” and followed his prison time with 5 years … Read more Former Milwaukee police officer Jon Bartlett is going to prison

Civil Settlement with Prudential Financial to be Announced

The United States Department of Justice, the Securities and Exchange Commission, the National Association of Securities Dealers and the New York Stock Exchange, are expected to announce a civil settlement with Prudential Financial Inc. on Monday. This will settle claims that brokers in the company’s securities unit assisted investors to rapidly trade mutual fund shares … Read more Civil Settlement with Prudential Financial to be Announced

Whistleblowers accuse State Farm Insurance of cheating victims of Hurricane Katrina

ABC News is reporting that [tag]State Farm Insurance[/tag] supervisors demanded that hurricane damage reports be altered so that the company would not have to pay claims. Kerri Rigsby and Cori Rigsby were [tag]independent adjusters[/tag] working exclusively for State Farm for eight years. They say that they’ve turned over documents to the FBI and Mississippi investigators … Read more Whistleblowers accuse State Farm Insurance of cheating victims of Hurricane Katrina

Northwestern Mutual Wins Case Against Former Agent

In March 2005, Northwestern Mutual filed suit against David Stinnett, a former NML agent in Evansville, Indiana and his company, Policyowner Protection Service Inc. The company claimed that Stinnett and the company started the website www.nmlcomplaints.com in 1999 in order to extort upwards of $100 million from NML.

NML alleged that David Stinnett and his associates started the website in order to attract policyholders to file lawsuits against NML. Stinnett would refer policyholders to attorneys, and in turn he would receive referral fees.

Read moreNorthwestern Mutual Wins Case Against Former Agent

Conspiracy of Fools: Moments Before Enron’s Bankruptcy

As I’ve mentioned several times before, Conspiracy of Fools by Kurt Eichenwald has been a fascinating read. He dug so far into the details of the demise of the company and its executives. The company was in a downward spiral, and a merger with another energy company, Dynegy, was seen as the only way for … Read more Conspiracy of Fools: Moments Before Enron’s Bankruptcy

Conspiracy of Fools: Did Skilling Read Before He Signed?

While Enron and Dynegy executives were trying to work out the details of their pending merger, William McLucas, one of Enron’s outside lawyers began questioning Jeff Skilling about the Southampton partnership and LJM. These were two of the several entities that put large amounts of money into the pockets of Enron executives. Skilling claimed he … Read more Conspiracy of Fools: Did Skilling Read Before He Signed?