_________::::___#423 - May 30, 2007________________
FRAUDBARON.com
The Anti-Fraud Professionals'
Source for Fraud News
#423 Updated: 5/29/07 9:40 p.m.

NEC staff caught faking orders, taking kickbacks
Tax investigators probing Japanese electronics maker NEC Corp. have found that
employees placed fake orders and took kickbacks, compounding the problems at a
company long dogged by accounting troubles and possibly facing a Nasdaq
delisting. Full story, Reuters.com

Business fraud a growing problem
Certified examiners are cracking down on the wrongdoing that costs
organizations in the U.S. about $638 billion a year.  Full story, StarBulletin.com

Enron Case Tests SEC's Allegiances
When the Securities and Exchange Commission files a brief in legal disputes, it is
usually a nonevent. But the cases usually don't involve Enron Corp. Full story,
Smartpros.com

Black's Apartment Deal Called Too Sweet
A real estate expert testified Tuesday the price media mogul Conrad Black paid
Hollinger International Inc. for a co-op apartment on New York's Upper East Side
was $5.5 million below fair market value. Full story, Houston Chronicle

Former Chase Bank Employees Arrested
Elodia Munoz, 48 years of age, and Maria del Rosario Gonzalez, 60, both of El
Paso, were arrested by the FBI and the U.S. Secret Service for their role in a $1.2
million fraud scheme.  FBI press release.