_________::::___#414 - May 14, 2007________________
FRAUDBARON.com
The Anti-Fraud Professionals'
Source for Fraud News
#414 Updated: 5/14/07 10:22 a.m.

Former Siemens Finance Chief Convicted
An erstwhile divisional head of finance at the German engineering giant
authorized kickbacks worth nearly $8 million in an attempt to secure contracts
with an Italian utility.  Full story, CFO.com

Ex-Insurance Adjuster Pleads Guilty to Embezzlement in Pa.
Between April 1997 and April 2002, Slonchka had the insurance company write
140 checks totaling more than $400,000 purportedly for workers' compensation
claims he had approved, prosecutors said. The money, instead, was used to buy
various goods for himself, prosecutors said.  Full story, insurancejournal.com

Investors lost trust and millions
By the time Russo was criminally indicted last month on 20 counts of fraud, he had
squandered an estimated $20 million entrusted to him by more than 250 investors
who included teenagers, senior citizens, and community groups, according to
federal prosecutors, who allege that the Wakefield man lived a lavish lifestyle
while running a pyramid scheme that thrived for as long as 25 years.  Full story,
Boston.com

Dearborn man pleads guilty to loan fraud
This week Al Parish, 49, was indicted on 10 counts of mail fraud and wire fraud in
what federal investigators allege, and he says he can't remember, was one of the
biggest and most bizarre scams the region has ever seen —- so big and bizarre
that the court has called in experts from Atlanta to sort it all out.  Full story, AJC.
com

Two plead guilty in loan fraud case
Their scheme, which has become common across the United States, involved
arranging for below-market properties -- many of them inner-city residences in
need of significant repairs -- to be sold at significantly inflated prices. The men
obtained excessive mortgages totaling $3.6 million, diverting about $1.98 million
of that money to themselves and others, according to federal prosecutors.  Full
story, timesunion.com