Atlanta home builder Beazer restating results

Beazer Homes USA has completed an internal investigation into accounting problems and will restate its financials from 1999 through 2007.

The results of the investigation: Employees in the mortgage unit violated HUD rules on downpayment assistance since at least 2000. Beazer might have to reimburse some losses on federally insured loans because of this. The liability is estimated at $8 million to $15 million, the amount for which the company thinks the government will settle.

Read moreAtlanta home builder Beazer restating results

Marion Jones caught using steroids… thanks to check fraud ring

For years, runner Marion Jones denied ever using steroids. She even went so far as to sue Victor Conte, the founder of BALCO, after he said that he saw her use steroids.

On Friday, Jones pleaded guilty to two felony counts of lying to federal investigators. She then faced the media:

“I stand before you to tell you that I have betrayed your trust.”

On Monday, Jones returned her Olympic medals.

She claims that her trainer, Trevor Graham, gave her something he called flaxseed oil. She says she took it orally. It was really tetrahydrogestrinone (THG), which is a steroid developed and distributed by BALCO and known as “the clear.” Jones used the clear during the 2000 Syndey Olympic Games.

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Milwaukee Police Department stops asking about immigration status

This is crazy. Using an “it’s not our job” excuse, the Milwaukee Police Department now has a policy that police officers will not ask about immigration status.

“Community activists” say that people who are stopped for traffic violations or crimes shouldn’t be asked about immigration status because it’s “unrelated.” (I don’t know how often the breaking of federal laws is deemed “unrelated” and therefore police should turn a blind eye.)

It’s not just Milwaukee that’s doing this. Other police departments are caving to the pressure to not ask about immigration status.

Read moreMilwaukee Police Department stops asking about immigration status

How the Modern Pyramid Scheme Stays Barely Legal

Modern pyramid schemes hide behind names like multi-level marketing and network marketing. How do they stay legal? By hiding behind a “product” or “service,” that is usually nothing more than overpriced junk. They’re not selling the product or service, they’re really selling the recruiting opportunity. read more | digg story

Siemens Bribery Investigation Ends With a Fine

The investigation into bribery allegations at Siemens AG ends with a fine and a charge for illegal profits. The company is paying the equivalent of $284 million in a case that prosecutors have referred to as Europe’s largest bribery investigation ever.

This part of the investigation is related to the company’s telecommunications-equipment unit. A former manager in this unit, Reinhard Siekaczek was indicted last week in connection with the bribery investigation, and has been accused of embezzling €24 million.

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New Charges Against Terry Gaouette Regarding Milwaukee Public Museum

Today, two new charges were filed against the former CFO of the Milwaukee Public Museum. Terry Gaouette was originally charged with four felonies, including one count of theft by officer and three counts of fraudulent writings. The new misdemeanor charges relate to making false or fraudulent reports as a certified public accountant.

The criminal charges came as a result of museum executives improperly spending the organization’s endowment funds, and then covering up that spending by making false reports to the museum’s Board of Directors.

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Bank of America cheating 80-year-old woman out of her money

When I first saw headlines about this case, I was sure there must be a whole lot to the story and that the bank would have laws and documentation on their side. Wrong!

Below is a narrative written by Greg Miller, the son of Bette Miller, the woman being fleeced. He wrote the narrative for Consumerist.com, the site giving this story a lot of publicity.

The narrative is long, but here is a summary of the main facts:

  • Bette Miller bought a $5,000 bond from Rainier Bank in April 1984. The face of the bond stated that it automaticaly reinvested every two years. It also stated that in order to cash it, you had to present the actual bond. The bond certificate was put in a safe deposit box and left there.
  • Rainier Banik was sold to Seattle Pacific Bank, which was acquired by SeaFirst Bank, which was bought by Bank of America.

    Read moreBank of America cheating 80-year-old woman out of her money

Smearing Rush Limbaugh

What’s the easiest way to smear someone like Rush Limbaugh? Lie and misrepresent. Take his words out of context. Don’t give anyone the context. And they just might believe you. (Especially if you do this lie and misrepresent thing over and over.)

The facts: On September 26, Rush Limbaugh made a comment about “phony soldiers,” in reference to people who lie about their military service. The transcript:

Read moreSmearing Rush Limbaugh

Morgan Stanley fined for faking lost emails due to September 11

Morgan Stanley will pay a $12.5 million fine to settle claims that the company improperly withheld emails in arbitration cases by saying that they were lost in the September 11 attacks. 12 of the company’s email servers in New York were destroyed in the attacks, but data was also stored on networks and personal computers … Read more Morgan Stanley fined for faking lost emails due to September 11

Larger Student Loans a Concern for U.S. Economy?

Experts are concerned by the growing level of student loan debt, and its potential impact on our future economy. Especially concerning are the “private loans” students use for college, which can have variable interest rates as high as 20%. These differ from traditional “student loans” which are backed by the federal government and have controlled … Read more Larger Student Loans a Concern for U.S. Economy?