NewsCloud.com Fraud News

Hacker Uncovers Chinese Olympic Fraud

A new chapter in the ongoing controversy surrounding China's women's gymnastics team opened today, as search engine hacker stryde.hax found surviving copies of official registration documents issued by China's General Administration of Sport of China. The incriminating documents, expunged by censors from the official site and from Google's document cache, still appear in the document translation cache of Chinese search giant Baidu, here (1) and here (2), showing the age of one of China's gold medal winning gymnasts to be 14 instead of 16, the minimum age for competition presented on her government-issued passport. Now that official government documentation is available, how long will the IOC be able to keep a lid on this scandal?

'Suicide is Painless' fraudster turns himself in

Now wait a second...Where is Neal Boortz when you need him? Here is a example of fraud, waste, and crime in the private sector that we think can solve all of our problems. Somehow he will blame the hedge fund abuse, the Enron fraud and the Worldcom fraud on the evil government. Greed exists in capitalism as well and it tends to hurt a greater number of people than the waste that occurs in the government. Just about everyone's portfolio has been hurt by the Enron and Worldcom disaster. Pure capitalism will just allow the businessmen to take over and rape the nation. You can try but you can't legislate morality, people will waste money and make bad decisions regardless of the economic system.

Iraq and the missing $190 million: the Waxman letter

Fraud and theft is thriving in Iraq/ Some $190 million has gone missing in Iraq through fraud and improper payments.

FBI steps up on mortgage fraud

The FBI has pulled agents off financial crimes cases so that they can concentrate on subprime mortgage fraud. Further evidence that the subprime crisis is bigger than anyone expected

Anne Hathaway's Beau Raffaello Follieri Under Investigation by State of NY

Actress Anne Hathaway has been in a long relationship with Italian businessman Raffaello Follieri. She appears to be distancing herself from his non profit charity Follieri Foundation because the state of NY has issued subpoenas for the financial records for the Follieri Foundation. New York state attorney general Andrew Cuomo is heading the probe.

FBI reports: fraud cases are up

The FBI reports that corporate fraud cases are on the rise

BAE-Saudi appeal

In Britain, the Serious Fraud Office announces that it will appeal against the High Court ruling that said it acted "unlawfully" when it dropped investigations into alleged bribery corruption involving BAE Systems and Sauid Arabia

Corporate fraud surges

FBI director Robert Mueller says Americans are more corrupt with corporate fraud cases surging

Fraud and IPOs

what's the relationship between fraud and IPOs?

Biovail's fraud and SOX

Drugmaker Biovail's $10 million settlement with the SEC to settle fraud charges makes fascinating reading and tells us that Sarbanes-Oxley did not stop fraud.

Confidence tricks

Is there a link between fraud and overconfidence? Are over-optimistic executives more likely to commit fraud? Certainly seem to be the case according to new research.

Easing up on fraud enforcement

The latest figures from the Transactional Records Access Clearinghouse (TRAC) show there has been a steep decline in efforts from the Federal Bureau of Investigation, Secret Service, Postal Service and Internal Revenue Service in fighting white collar crime.

Companies casual on fraud risk

Companies are slack when it comes to stopping fraud. Only 49 per cent of executives at Fortune 100 companies and large not-for-profit organizations say strategies for addressing fraud risk are well defined

The Age Blogs: Management Line

Ever feel like you're a fraud or impostor? You ever feel that your success is due more to some kind of luck than ability? Are you ever plagued by self-doubt, particularly when you step into a new role or job. Or when you have to make snap decisions with very little information and you are going by your gut.

Deutsche Post chief booted out in tax fraud scandal

A huge scandal in Germany which is likely to roll right through the German corporate sector. Deutsche Post chief Klaus Zumwinkel has resigned in a scandal over tax evasion. But this is likely to be the tip of the iceberg with nvestigations involving as many as a thousand people under way.