Last year a website called 12daily-Pro.com offered participants a 12% daily return on membership fees. The money was supposedly to be earned from viewing advertisements on the internet: 12 ads per day. After viewing the ads, members would be paid […]

Milberg Weiss Bershad & Schulman, the New York law firm that helped get a class-action settlement with the accounting firm KPMG LLP is offering an unusual fee arrangement for outside lawyers. In exchange for persuading clients to join the class […]

60 Minutes ran an interesting story tonight, focused on the alleged abuse of funds for rebuilding Iraq by a company named Custer Battles. The story indicated that the company was paid tens of millions of dollars to provide services it […]

I’m having flashbacks to Enron. Enron, Enron, Enron. Well, it looks like Refco could have been 2005’s Enron, but on a smaller scale. Not too small, though. Refco raised $583 million in its public offering in August. In October, the […]

City of Milwaukee police officer Steven Wesolowski has been charged with a felony of misconduct in public office. It is alleged that Wesolowski took bribes to fill out bogus vehicle titles at the city’s impound lot. He is accused of […]

American International Group Inc (AIG) has finalized a settlement of $1.6 billion for allegations of accounting fraud. The settlement will be split almost equally between the Securitites and Exchange Commission (SEC) and the State of New York. Civil fraud charges […]

An audit of the Milwaukee County Child Welfare system was completed by state auditors at the direction of the Joint Legislative Audit Committee. The audit found almost $700,000 of questionable and unallowable costs. The Child Welfare system had 153 full-time […]

Joseph Harvey, the former CFO of Bielinskis Brothers Builders Inc. of Pewaukee was sentenced to two years of federal probation, including six months of home confinement. This sentence follows his guilty plea to charges of aiding and abetting a wire […]

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 […]

According to the Wall Street Journal, General Motors is going to cut its $2 per share annual dividend in half, and cut executive salaries. The dividend cut will reduce the cash paid by about $565 million. Cuts are also being […]