_________::::___#436 - June 26, 2007________________
FRAUDBARON.com
The Anti-Fraud Professionals'
Source for Fraud News
#436 Updated: 6/25/07 4:55 p.m.

HERB GREENBERG: 'Crazy Eddie' Antar's Not So 'insane' View Of The World
Before fleeing rather than face criminal-fraud charges in the U.S., former Comverse
Technology Chief Executive Jacob "Kobi" Alexander might have done himself a
favor to check with Eddie Antar.   Full article, CNN.com

Former Safety-Kleen Chief Financial Officer Pleads Guilty to $267 Million
Accounting Fraud
The charges related to a scheme to manipulate Safety-Kleen’s financial
statements in connection with the reporting of more than $250 million in
numerous “adjustments” to Safety-Kleen’s books and records in 1998, 1999 and
2000. It was alleged in the Indictment that the fraud was part of an attempt to
meet earnings targets the Company had predicted at the time Safety-Kleen was
acquired by Rollins Environmental Services, Inc. (“Rollins”) in 1998.  Full article,
Lawfuel.com

Financial Crimes Enterprise
The defendants established multiple false businesses used to fabricate
employment and salary information for the false identities, which was then
provided to credit card companies, leasing offices, mortgage companies, and
financial institutions for the purpose of obtaining credit in the names of the false
identities. The defendants also rented apartments and purchased properties
using false identities, and these locations were then used to receive mail from the
lenders addressed to the false identities and businesses and to receive
shipments of goods purchased using the false identities.   FBI press release.

REDLAND COMPANY EMPLOYEE PLEADS GUILTY TO $11 MILLION FRAUD
Brad Nowell’s duties at The Redland Company included the preparation of work
estimates, the negotiation of contracts and subcontracts, and the approval of
invoices and payments. According to the Information and documents filed with the
court, from at least 1997 through 2006, the defendant embezzled money using
the Redland Company operating account, on which Nowell had signatory
authority.  Nowell issued millions of dollars in unauthorized checks from this
account payable to “NGI Marine.”  FBI press release.

No sure bets as Conrad Black fraud trial nears end
Wagering on the outcome of the Conrad Black fraud trial is a risky proposition, as
lawyers representing the former media baron and three co-defendants present
widely divergent versions of events in their final statements to the jury. Full story,
Reuters.com

Truck driving school owner indicted on fraud charges
Mustafa Redzic, owner of Bonsa Truck Driving School in St. Louis, and Troy Parr, a
Sikeston driver's license examiner, were indicted on multiple charges involving a
bribery/fraud scheme to provide easy tests to hundreds of students applying for
commercial drivers licenses, U.S. Attorney Catherine Hanaway said Friday.  Full
story, Bizjournals.com

Londell Investment pleads guilty to mail fraud
Londell Investment Co. pleaded guilty to mail fraud in connection with its
operation of a Ponzi scheme, which defrauded more than 60 investors out of $4
million, U.S. Attorney Catherine Hanaway said Friday.  Full story, Bizjournals.com

Exeter embezzlement case results in prison term
Ronald C. Frederickson, 32, was accused of stealing funds from April 2005 to July
2006 from Hobbs Container Company, where he worked as the controller. Deputy
District Attorney Paula Marsh said Frederickson wrote duplicate checks for the
company and cashed them. Full story, Tulare Advance Register

Trio sentenced in Novato insurance embezzlement
A Petaluma man has been sentenced to six months in jail for embezzling more
than $160,000 from a Novato insurance company. His wife and another accomplice
received probation. Full story, MarinJI.com

U.S. to ease small bank money laundering oversight
U.S. authorities said on Friday they are adopting a risk-based approach to policing
banks' compliance with money laundering regulations, a step giving some relief to
small banks with little or no international business.  Full story, Reuters.com

SUPERVISOR ADMITS TO EMBEZZLING OVER $1 MILLION FROM LARGE CAR
DEALERSHIP
David Delgado, 36, of Laguna Niguel, pleaded guilty before United States District
Judge AliceMarie H. Stotler. As part of a plea agreement, Delgado pleaded guilty to
a two-count criminal information charging him with wire fraud for bilking his former
out of $1,053,970.  FBI press release.