The chief executive officer of RadioShack Corp., David Edmondson, lied about his academic credentials. The quote from him is that he “clearly misstated my academic record.” Edmondson previously represented that he had a bachelor of science degree, but is now […]
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 […]
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 […]
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 […]
In fiscal 2005, the U.S. government spent $2.47 trillion. More than half of that, or $1.3 trillion, went for Social Security, Medicare, Medicaid, farm-price supports, and government-employee pensions.
