Category: Investigations

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…

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…

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…

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…

$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…

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…

Best Buy CEO Quits Over Scandal

Two weeks after announcing the closing of 50 of their electronics big box stores, with the loss of 400 jobs, another job loss was announced. Brian Dunn, the co-chief executive, resigned after reports of disturbing personal conduct. According to The…

French CEO Says Company Spied on Her

French nuclear engineering company Areva launched an internal investigation into a $2.5 billion purchase of a Canadian uranium-mining company called UraMin in 2007. The investigation is said to have been initiated by mangers in the company behind the back of…