_________::::___#434 - June 19, 2007________________
FRAUDBARON.com
The Anti-Fraud Professionals'
Source for Fraud News
#434 Updated: 6/18/07 8:27 p.m.

Feds Indict Adviser for Huge Borrowing
The adviser, who managed investments for the Ohio Bureau of Workers'
Compensation, allegedly borrowed 4500 percent of a fund's assets.   Full story,
CFO.com

A New Twist on Identity Theft
Late last month, the FBI helped wrap up a case that took identity theft to a whole
new level: one company trying to steal $23 million by pretending to be another
company.  Full article, FBI.

DEFENDANT SENTENCED TO FEDERAL PRISON FOR MEDICARE FRAUD
Defendant Aguera owned three Miami companies, FNA Services, Poey Medical
Services, and Atlantis Pro-Med Inc., all of which were involved in his scheme to
defraud Medicare. Since 1999, Aguera had been paying Medicare beneficiaries
throughout Miami-Dade County to gain access to their Medicare information. After
gaining access to their Medicare cards, Aguera billed Medicare for unnecessary
services on behalf of these patients, including oxygen concentrator and
nebulizers. Some of these patients testified against Aguera at trial, admitting that
they were paid, that they did not need the treatments or medication, and that the
medication, when received, was thrown in the trash. The patients testified that
they participated in the scheme because they needed the money. According to
trial testimony, Aguera paid $100 per month if the patients agreed to accept
unneeded aerosol medications, such as albuterol, and $150 per month if the
patients agreed to take an oxygen concentrator also.  FBI press release.

Former Enron broadband exec gets 27-month sentence
It's been nearly three years since Kenneth Rice, 48, pleaded guilty to securities
fraud and agreed to help federal prosecutors on other cases related to the
energy giant's collapse. His sentencing was postponed as he cooperated with
prosecutors.   Full story, SignOnSanDiego.com

Prosecutor Rips Former Media Mogul
A prosecutor accused media mogul Conrad Black and three former Hollinger
International newspaper executives Monday of systematically stealing $60 million
from the company and creating an elaborate but bogus paper trail to hide the
theft from shareholders. Full story, Houston Chronicle

Lou Pearlman to be transferred to U.S.
He is accused of fraudulently securing nearly $20 million in bank loans with
documents from a made-up accounting firm. The criminal complaint against him
was filed in March and unsealed last week after authorities located him. Full story,
Mlive.com