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 […]
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 […]
Cary Spivak – Milwaukee Journal Sentinel The latest business plan at the lofty-sounding Fraud Discovery Institute seems invincible: Gather negative information about a company, place a bet that the price will decline by selling its stock short, and then publish […]
More than two years ago, I mentioned here a news story about a Ponzi scheme called Tri Energy Inc. The Securities and Exchange Commission first took action against the company in 2005: The Securities and Exchange Commission yesterday obtained a […]
How does a company with about $40 million in annual revenue fall victim to a $31 million (or more) fraud by the VP of Finance? Simply, Koss Corp. gave Sue Sachdeva the keys to the castle. She apparently ran the […]
A couple of weeks ago I had an email exchange that exemplified why solo practitioners like myself should not “partner” with larger firms on projects. There is no “partnering” about it. The bottom line is their bottom line, and their […]
Millions of dollars are missing from a Milwaukee company, and an employee is charged with stealing a staggering sum of money. How deep the fraud goes is something investigators are still deciphering. FOX6 gives you a look at how they […]
Cary Spivak – Milwaukee Journal Sentinel As investigators, attorneys and accountants sift through the aftermath of the $31 million alleged embezzlement at Koss Corp., a question lingers: Where was Grant Thornton, the national auditing firm that collected more than $625,000 […]
Compliance Week – Melissa Klein Aguilar A large school of thought has developed to support the argument that non-accelerated filers should be exempt from compliance with Section 404(b) of Sarbanes-Oxley, which requires external auditors to review and attest to the […]
On January 7, 2009, Barry Minkow and the Fraud Discovery Institute issued an initial report on Lennar Corporation (NYSE:LEN), citing 10 Red Flags of Fraud. Lennar immediately came forward and called FDI and its investigators liars, saying in one press […]
