Author: CEOPD

Fertilizer CEO Acknowledges $15M Bribery Scandal

Norwegian-based, international fertilizer giant Yara International has finished an internal investigation confirming they paid millions of U.S. dollars’ worth of bribes to win contracts around the world. CEO Joergen Ole Haslestad acknowledged the problems by saying, “I apologize that the…

$746 Million for Highest Paid CEO

We have a winner. Top CEO Payday of 2011 was $746,186,123 according to a review of The Blackstone Group’s annual report. Until 2011, Stephen Schwartzmann had hit a dry spell. It had been two years since he last earned more…

CEO Admits Embezzling $100+ Million

After trying to kill himself by sucking on the exhaust fumes from his car, Russell Wasendorf Sr. was hauled into court last Friday on charges of fraud and misuse of funds. In a suicide note found next to his unconscious…

Client Money Disappears; CEO Attempts Suicide

The FBI is now investigating the Peregrine Financial Group, a broker of commodity futures, which reported the whereabouts of $220 million of client money is unknown. The Commodity Futures Trading Commission filed in federal court to freeze any remaining funds…

CEO Snags $44 Million for 20-Minute Tenure

A boardroom coup last week resulted in outrage, contoversy and a wealthy loser. When the merger between Duke Energy and Progress Energy closed to form an electric utility powerhouse, Progress Energy chief executive Bill Johnson took over as CEO of the…

Fletcher Hedge Fund Flim-Flam Goes Bust

A hedge fund company called Fletcher International Ltd. is suing to stop three Louisiana pension funds from dismantling it during bankruptcy, selling off its questionable assets. If you are not an investor, you see it coming a mile away. Investors…

Lawyers Have “$1,000-an-Hour Club”

More lawyers joined “the $1,000-an-hour club” last year, as “partners in the top 25% of hourly billers boosted their average price to $873 an hour.” This is a 5x ratio compared to the lowest 25% who averaged $204 in 2011.…

$20 Million Latest Fraud by Union Chief

Running the world’s largest public union from 2002 to 2008 evidently made Fred Buenrostro feel invulnerable. He committed so many frauds as CEO of the California Public Employees’ Retirement System (CalPERS) they are still being discovered years his first scandal came…