_________::::___#406 - May 1, 2007________________
FRAUDBARON.com
The Anti-Fraud Professionals'
Source for Fraud News
#406 Updated: 5/1/07 8:20 a.m.

EXPORTER CONVICTED IN SCHEME THAT CAUSED OVER $6 MILLION IN LOSSES TO
THE U.S. EXPORT-IMPORT BANK
United States Attorney Rod J. Rosenstein stated, "As a result of Mr. Acquah's fraud
scheme, American taxpayers wound up guaranteeing 100% of the purchase price
for foreigners who bought equipment with no down payment."

Marie-Josee Kravis Says Hollinger Panel Lacked Expert
Hollinger International Inc.'s audit committee kept watch over company finances
for four years without any financial experts, a former member testified at the fraud
and racketeering trial of ex-Chairman Conrad Black.

When companies investigate themselves: Too easy?
Pressured by shareholders, prosecutors and regulators, and facing stiffer
anti-fraud rules, 250 U.S. companies in the past year launched internal
investigations into backdating, says proxy-research firm Glass Lewis. Attorneys
say the backdating issue has spurred the most internal probes since the 1970s
foreign-bribery scandals.

Pearlman case draws crowd
Frustrated investors hear grim news at a bankruptcy meeting. They are urged to
file a loss claim.

Tyco executive to settle charges
A former Tyco International Ltd. executive agreed to settle civil charges that he
helped inflate the company's profit through sham transactions, the Securities and
Exchange Commission said Monday.

$5.5M Money Laundering Scheme
Evidence at the trial demonstrated that, between 2002 and 2005, Munar
conspired with others, including Daniel Barnicle of Lorain, Ohio, and committed
bank fraud by depositing forged and stolen third-party checks into fifteen
federally-insured financial institutions, resulting in losses to the banks.

Ex-chief of Bethlehem company sentenced for embezzlement
The former head of a Bethlehem company who admitted he embezzled nearly $1
million was ordered Friday to spend up to 23 months in prison.