_________::::___#428 - June 6, 2007________________
FRAUDBARON.com
The Anti-Fraud Professionals'
Source for Fraud News
#428 Updated: 6/7/07 7:05 a.m.

Former Lason exec gets prison time for fraud, false SEC statement
Prosecutors have said William J. Rauwerdink and two others conspired to inflate
Lason's 1999 third-quarter profits by about $13 million in a filing with the U.S.
Securities and Exchange Commission. Full story, DetNews.com

2 women accused in Ponzi scheme case
Federal investigators say two Northeast Ohio women ran the bookkeeping and
banking transactions of a $70 million retirement investment fraud scheme out of
the basement of a Newbury home. Full story, Clevland.com

Ex-DOD worker pleads guilty in LA to Army embezzlement
Jesse D. Lane and four co-conspirators were members of the 223rd Finance
Detachment, a unit of the California National Guard, and were deployed together
to Iraq and Kuwait from March 2004 until February 2005, when they returned to
their home post in Compton.  Prosecutors alleged the accused accessed a
Defense Department pay-processing computer system starting in March 2005 and
put in for more than $320,000 in unauthorized pay and entitlements for himself
and the others. Full story, MercuryNews.com

HELENA LAB EMPLOYEE SENTENCED IN FRAUD SCHEME
According to court documents, in 2003, Philip Guadagno discovered a process to
dramatically improve or “derivatize” film gels, but did not disclose that discovery to
his employer, Helena Labs.  Guadagno and others concealed the discovery and
shipped the improved or “derivatized” material to an independent company in
Ohio. Guadagno then used his position to cause Helena to order the derivatized
material from the Ohio company at inflated prices. The Ohio company repackaged
the material received from Guadagno and sent the material and an invoice back to
Helena. After Helena paid the Ohio company for the derivatized material, the Ohio
company kicked back most of the money to the Helena employees. FBI press
release.

Accountant charged in $1 million embezzlement
Bail was set at $350,000 today for an accountant for a North Side medical services
company accused of stealing nearly $1 million by forging checks for credit card
payments and other personal expenses.  Full story, Chicago Tribune