Category: Famous Scandals

New Zealand Goes for $250 Million Fraud

It sounds like a dose of Olympic fever. With big fraud arrests in Japan, Singapore and China, perhaps it was the competitive spirit that got New Zealand’s top fraud cop boasting about upcoming scores. Adam Feeley said there is a…

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…

Billionaire Bilker Sentenced to 110 Years

“Former jet-setting Texas tycoon R. Allen Stanford, whose financial empire once spanned the Americas, was sentenced Thursday to 110 years in prison for bilking investors out of more than $7 billion over 20 years in one of the largest Ponzi schemes…

$26 Million Phony Degree

The story keeps getting stranger. After a high profile turnover in the leadership of troubled internet pioneer Yahoo!, former PayPal president Scott Thompson assumed the reins in January. The company’s board had given up on Carol Bartz’s efforts to turn…

“No Bonus” Shocks World

This week former FBI director Louis Freeh told Congress about progress being made in his effort to untangle the MF Global Holdings bankruptcy, famously known for the now-reported $1.6 billion in accidentally misplaced funds. He told skeptical Senate Banking Committee…

Convicted Tyco CEO Gets Work Release

The former chief executive of Tyco International, sentenced from 8.33 to 25 years for embezzlement, was approved for a work release program last month. The New York State prisoner, L. Dennis Kozlowski, had been convicted of financial crimes in 2005…