• Las Vegas Sands FCPA Investigation: What Did Management Do When they First Found Out About Allegations of Bribery and Corruption?

    Earlier this week, Las Vegas Sands (NYSE:LVS) announced in its 10-K for the year ended December 31, 2010 that it is the subject of an FCPA investigation: On February 9, 2011, LVSC received a subpoena from the Securities and Exchange Commission […]

  • Where There’s Smoke, There’s Fraud

    Sarbanes-Oxley has done little to curb corporate malfeasance. Therefore, CFOs should implement a range of fraud-prevention measures. Laton McCartney – CFO Magazine As a convicted felon, Sam E. Antar, the former CFO for the now-defunct consumer-electronics chain Crazy Eddie, no […]

  • Update on Fraud Allegations at China MediaExpress Holdings

    UPDATE: In March 2011, CFO Jacky Lam of China Media Express and the auditors (Deloitte) resigned. Deloitte said they could no longer rely on the representations of management, and they suggested an investigation was in order. Ping Luo, the analyst […]

  • The Myth of “Reduced Budgets” for Wisconsin Schools

    This week, public workers’ unions in Wisconsin are up in arms because Governor Scott Walker has issued a budget which seeks to strip the unions of many of their bargaining rights. He wants to make the union members pay their […]

  • Failing to Find Fraud When Auditing Cash

    UPDATE: In March 2011, CFO Jacky Lam of China Media Express and the auditors (Deloitte) resigned. Deloitte said they could no longer rely on the representations of management, and they suggested an investigation was in order. Ping Luo, the analyst […]

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  • China MediaExpress: Massive Fraud or Victim of Short Sellers?

    UPDATE: In March 2011, CFO Jacky Lam of China Media Express and the auditors (Deloitte) resigned. Deloitte said they could no longer rely on the representations of management, and they suggested an investigation was in order. Ping Luo, the analyst […]

  • New Tax Amnesty Program for Taxpayers With Overseas Accounts

    The IRS is again allowing people with illegal, overseas bank and brokerage accounts to turn themselves in for reduced penalties. In 2009, the IRS did the same thing, giving taxpayers the opportunity to rat on themselves with the Voluntary Disclosure […]

  • Spending More Money on Education Does Not Work

    We are constantly bombarded with pleas for more money for education. After all, it’s for the CHILDREN. They DESERVE a good education. MORE MONEY is the answer. Sadly, more money is not the answer. Locally, Milwaukee Public Schools shows us […]

  • The Truth Comes Out in the Medifast Litigation

    UPDATE: On February 17, 2010, Medifast Inc. filed suit in US District Court, Southern District of California, alleging defamation, violation of California Corporations Code, and unfair business practices. On March 29, 2011, Judge Janis Sammartino dismissed all of Medifast’s claims […]