December 2008
30 posts
3 tags
Ponzi-Watch Continues
Meet George Theodule, recently sued by the SEC. If you’re of Hatian extraction and living in Florida, Mr. Theodule would very much like to have you money - the fewer questions asked the better. Given the chance he’ll double it for you in 90 days. The SEC has stepped in at this point to curtail Mr. Theodule’s ponzitraneurship, but not before he suckered thousands of investors...
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Bernie Madoff Not the Only Ponzitrpaneur Who's In...
Meet Bryant Rodriguez,who promised 30% returns every two weeks to his unfortunate (and optimistic) investors. Sure he’s only a small fish, having only bilked about a million from a small pool of investors, but this is the kind of fraudster that lives to fight another day and perhaps bilk your business. So mark that name. He’ll be back. — MDT
1 tag
Honey Laundering
No really. Honey laundering. Really good piece from the Seattle Post Intelligencer about crime that you never knew existed. — MDT
Holiday Hangover... Still Recovering
Regular posts to resume later this week. Assuming something interesting is happening out there. In the meantime, check out these guys: Clusterstock. Nice folks, great content. Plenty of Madoff mayhem. — MDT
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Suicide of Madoff-Invested Hedge Funder
I know, I know. You’re sick of the Madoff. But, holy crap! — MDT
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Financial Times Features Jules Kroll
Just in case you were wondering what he’s been up to since retirement. —MDT
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Major Accounting Firms Eyed by Fraud Victims in...
PricewaterhouseCoopers and BDO Seidman are just two of the big names whose customers are mulling or have already filed suit. — MDT
National Lampoon CEO Stock Scandal
Nothing funny about it. — MDT
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Madoff's Auditor Beyond Questionable
With audit services rendered by the firm Dewey, Cheatum and Howe. Wonder how that failed to raise any red flags. Oh wait… It did. —MDT
KPMG Sees Three Convicted in Tax Shelter Case
Robert Pfaff , John Larson and Raymond J. Ruble - come on down! David Greenberg - you’re free to go. —MDT
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Former General Re Insurance Exec Gets Two Years
Former General Re chief executive, Ronald Ferguson is the first of five General Re executives to face the music - two years in prison - for falsifying financial documents relating to a reinsurance deal with AIG. For a little background, try this 2005 article from The Guardian or our full coverage of the case. — MDT
1 tag
Dreier Law Firm Headed to Bankruptcy
Not good news… But when your pater famalis is in the hoosegow on an ugly rap, what can you do? — MDT
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Madoff Fraud a Family Affair?
That is definitely one way to keep your dirt quiet. And some of those family connections, along with a fat piles of lobbying cash, may have played a role in greasing the skids with Federal regulators. So just how many tips did the SEC get about the Madoff investment house without acting? More than a few, it seems. The commission is getting downright reflective on their Madoff connections. ...
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Who Got Took?
Bernie Madoff’s epic ponzi scheme really boggles the mind. Given his star power as former NASDAQ chief he was able to attract an A-List group of clients. Many news organizations have taken some time compiling various lists of brand names that got taken. If you’re one of those trying to keeping score, FinAlternatives has a running list of the names (and the numbers). — MDT
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Siemens Signs off on Billions in Fines
Looking to close the book on the massive bribery investigation, Siemens settles for big bucks on lesser charges. — MDT
Former NASDAQ Chief Busted in $50 Billion Fraud...
Well damn… Didn’t see that coming. Bernie Madoff takes a fall. — MDT
4 tags
Pequot Insider Trading Case Gets Another Look
Some new details have emerged about this controversial SEC insider trading investigation, courtesy of former Pequot employee, David Zikha’s divorce proceedings. The filings show that Zikha, who joined Pequot from Microsoft back in 2001 received a nearly $2 million payment from Pequot and was still owed another $700,000 due this April. No explanation was given for exactly what Zikha was being...
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"Spanish Enron" Stamp Auctioneer Faces Potential...
That’s what Spanish prosecutors would like to see happen to American businessman, Greg Manning. His firm, Greg Manning Auctions International - later renamed Escala, fed low quality, low value stamps into Afinsa Bienes Tangibles, which was the world’s third largest auction company before its “no-loss” stamp-investment plan imploded taking down the retirement funds of...
Cross Border Mergers
A quick primer on not losing your shirt. — MDT
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Mark Dreier Does Not Pass Go
Perpetrating a $100 million dollar fraud, means directly to jail. —MDT
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Liechtenstein to Loosen Up on Bank Secrecy (Sort...
Following the Heinrich Kieber-induced international tax evasion scandal that lead international regulators to its door, Liechtenstein, the famous European tax haven is apparently planning on softening its bank secrecy laws. As per a new agreement, set to be signed next week with American regulators, Liechtenstein will begin turning over banking records for individuals currently under...
7 tags
CEO Suicide at Julius Baer?
It has been reported that Julius Baer bank CEO, Alex Widmer has died. While the bank initially released a statement that the death was a result of an unspecified illness, family friends have publicly referred to the untimely passing as suicide. Swiss authorities have thus far refused to offer their own confirmation one way or the other. Julius Baer has recently faced an investigation into...
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Corporate Risk International Goes Pirate Hunting
The move is a partnership for the Virginia-based firm with Veritas, a UK-based security concern. According to the Washington Post the two firms will market a packaged anti-piracy service, including tactical training for shipping crews as well as access to the skilled negotiating teams that Corporate Risk is known for in its kidnapping and extortion resolution work. — MDT
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Pelicano Wiretap Case Leads to Former FBI Agent
FBI agent Mark Rossini recently resigned from the bureau and his name has emerged in relation to the wiretapping case against convicted Hollywood private investigator, Anthony Pellicano. On Monday Rossini was charged in Washington, DC District Court with five misdemeanor counts relating to the inappropriate use of FBI computers and records back in 2007. Rossini was allegedly seeking information...
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Russia Cracking Down on Insider Trading
Color me skeptical on this one…
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10 Years For Daniel Dantas
The Brazillian popo get their man. See here for details on the Dantas / Kroll / Telecom Italia wiretapping saga from a few years back that saw Kroll’s Brazilan offices raided by police. — MDT
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Recapping the Highlights of Departing NY U.S....
Three years of prosecutorial white collar goodness… Along with a little homeland security thrown in for spice. — MDT
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Lord Conrad Black's Low Opinon of the U.S. Justice...
Whether or not you harbor any sympathies for the former newspaper magnate turned white collar inmate, this is a quality, five-star rant. — MDT
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Kroll Lending a Hand With Express Scripts Data...
Apparently some customers have been threatened with having their stolen personal data revealed unless they pay up. Kroll is assisting Express Scripts in running down the would-be extortionists. — MDT
Back in the Saddle
After recovering from our Thanksgiving travels. So what’d I miss? — MDT