Category: False Paperwork

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…

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…

CEO Loses His Nuts

Diamond Foods, the snack food giant which built its empire on almonds and other nuts, canned their CEO and CFO after “an internal audit that revealed improper accounting of payments to walnut growers, resulting in the public company having to…

More Charges Against Olympus CEO

New criminal charges were made against former Olympus top executives by the Japanese government last week. The first charges were made in February stemming from $1.7 billion in losses at the company which were hidden by company leaders. Chief executive…

Canada: Nortel Execs Stole Bonuses

Jan. 17, 2012 – The Canadian government is trying a former Nortel Networks CEO and two other executives for fraud. Frank Dunn along with former CFO Douglas Beatty and Comptroller Michael Gollogly cooked the books with the primary goal of…

CEO Returns $2.8 Million Earned During Fraud

The former chairman and CEO of CSK Auto Corp. greed to return $2.8 million in bonus compensation and stock profits that he received while the company was committing accounting fraud. The Securities and Exchange Commission said CSK Auto was fraudulently…

Why no punishment for CEO greed?

June 9, 2011 – In the 1970’s there was a Texas financial scandal known as “Rent-a-Bank.” Fifty bankers were uncovered by regulators as having perpetrated fraudulent loans. No criminal prosecutions resulted, so it was almost predictable most of the scammers…

CNN Reports “A Study in CEO Greed”

May 30, 2006 – University of Iowa researcher Erik Lie conducted a study that showed more insider tampering with stock options than ever before reported. Executives were backdating their stock options to when their company’s stock was at its lowest…