Thursday, January 8th, 2009
The Satyam Computer Services LTD fraud scandal is growing in scale, with media in India calling it that country's Enron. There definitely seem to be a lot of parallels between the huge Indian outsourcing company and the former energy trading giant. The confession by B. Ramalinga Raju, chairman ...
Posted in Business Fraud | No Comments »
Wednesday, January 7th, 2009
Indian business is being hit with the type of corruption scandal that has become, unfortunately, all too common here in the U.S. Ramalinga Raju resigned from Satyam Computers, and admitted his role in a long running scheme to defraud investors. Raju wrote a detailed letter to his shareholders ...
Posted in Business Fraud | No Comments »
Tuesday, January 6th, 2009
Considering Bernard Madoff engineered the most massive Ponzi scheme, defrauding investors out of billions, it seems odd that he's a free man. Now prosecutors are seeking to address that issue by asking for his bond to be revoked.
The Federal prosecutors say that Madoff sent over $1 million ...
Posted in Business Fraud | No Comments »
Wednesday, December 24th, 2008
Bernard Madoff's long running Ponzi scheme has collapsed another entire charitable organization.
The Elie Wiesel Foundation for Humanity, which was founded by Elie Wiesel and his wife, Marion after he won the Nobel Peace Prize in 1986, recently announced that their foundation lost everything - more than $15 million dollars - ...
Posted in Business Fraud | No Comments »
Tuesday, December 23rd, 2008
The fallout from the Bernard Madoff fraud scheme continues to mount up, this time apparently claiming the life of hedge fund manager Thierry Magon de La Villehuchet, who had invested money with Madoff's firm.
De la Villehuchet, 65, was a co-founder and chief executive officer of Access International Advisors, ...
Posted in Business Fraud | 3 Comments »
Wednesday, June 25th, 2008
Raffaello Follieri has been arrested for fraud and money laundering. All told, he's been charged on 12 counts. Raffaello Follieri is a 29 year old who used to date Anne Hathway, and has influence with people such as Bill Clinton and the Pope.
Follieri has been charged ...
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