German investigators who are looking into fraud allegations at Siemens AG are having some success. They’ve said they discoverd .200 million (about $250 million) in suspicious transactions. This is significantly more than discovered just a week ago. Six former employees of Siemens have been jailed while the investigation is ongoing. Investigators allege that the participants … Read more Siemens criminal investigation heats up
Yet another tax increase is being discussed in Wisconsin, a state already known for its extremely high tax burden. Naturally, lawmakers are spinning this tax increase as a tax shift, rather than an increase. Suuuuuuuure. Here’s the idea: State Sen. Jon Erpenbach (D-Middleton) wants to do away with sales tax exemptions. What? Currently most goods … Read more Another tax increase for Wisconsin?
How does that work? Give lawmakers a bunch of sick days, and when they’re sick, they just don’t show up. They don’t ever “use up” any of the sick days. They keep accumulating into infinity. How cool is that? Apparently really cool for Wisconsin lawmakers. When they retire, they can use their accumulated sick leave … Read more Sick Days That Aren’t Really Sick Days
Commuter rail between Milwaukee, Racine, and Kenosha is being discussed again. According to the Milwaukee Journal Sentinel, it will cost $237 million to start. The plan proposes 14 round trips on weekdays and 7 on weekends and holidays. The fares would be around $10 one way, and buses and shuttles would theoretically take riders from the train stips to jobs and other locations.
Statistics on the proposed rail include:
Milwaukee, WI November 22, 2006 . Pyramid Scheme Alert announces that Tracy L. Coenen, CPA, MBA, CFE has been named to the organization.s Board of Advisors. Her consumer education website, PinkTruth.com, which exposes and analyzes the business and recruiting practices of Mary Kay and the plight of Mary Kay salespeople, has received over 4,000 visitors a day.
Pyramid Scheme Alert is one of the most widely recognized and highly respected organizations fighting against pyramid schemes and abusive multi-level marketing companies. The organization is led by Robert FitzPatrick, author of the book False Profits: Seeking Financial and Spiritual Deliverance in Multi-Level Marketing and Pyramid Schemes.
Milwaukee, WI November 20 2006 . Tracy L. Coenen, CPA, MBA, CFE, a nationally-recognized fraud examiner and expert witness, has developed a website to educate and inform the public about the Mary Kay Cosmetics business opportunity. Pink Truth (www.pinktruth.com) has quickly become a valued resource to hundreds of thousands of women around the world. Coenen, … Read more Press Release: Fraud Investigator Develops Public Awareness Website Regarding Mary Kay Cosmetics
A lawsuit has been filed against News Corp., the owner of MySpace, by Universal Music Group. Universal, the world’s largest recorded music company,claims that MySpace is infringing on copyright by trafficking in “user-stolen” content such as music, videos, and written materials. Universal is known for aggressively defending its copyrights. The company has been negotiating with … Read more MySpace is being sued by Universal
1. Education . If employees are aware of fraud and how it happens, they will be your best on-the-job sleuths. 2. Surprise Audits . When employees are aware that there will be random checks of their areas, they are more likely to be honest. They also will not feel singled out when it is .their … Read more Top Ten Ways to Prevent Employee Theft
The Texas Attorney General recently announced that it is investigating Mannatech, another multi-level marketing company scam That offers “nutritional supplements.” The company’s main products, Abrotose (formerly known as glyconutritional) is a sugar pill that the company’s representatives claim cure all sorts of illnesses, including cancer. (Someone even claimed it cured Down’s Syndrome!?!?!?!?)
CNNMoney.com has published a recent article from Fortune Magazine about the fall of Milberg Weiss, dubbed the meanest law firm in America.
It’s a long article, but here are the high points.
The law firm of Milberg Weiss, along with Melvin Weiss and Bill Lerach, singlehandedly transformed securities class action litigation. The firm held itself out as helping the little people, and has claimed that they’ve collected $45 billion for cheated investors.