_________::::___#441 - July 5, 2007________________
FRAUDBARON.com
The Anti-Fraud Professionals'
Source for Fraud News
#441 Updated: 7/5/07 9:42 a.m.

Networking Execs Sentenced for Accounting Fraud
Starting in mid-2001, the four defendants and other Enterasys executives inflated
the company's revenue figures as a way to meet expectations of financial analysts
and to maintain or increase the price of the company's stock, the DOJ said.  Full
story, PCWorld.com

Former U.S. luxury restaurateur jailed for fraud
Dennis Pappas, 60, the former vice president of Cipriani USA, which operates the
Rainbow Room restaurant in Manhattan, was ordered to serve a minimum 18
months prison and ordered to pay more than $1 million in restitution.  Full story,
reuters.com

Fraud overseas booming
The countries where most fraud occurred on UK-issued cards were the U.S. (16.7
million pounds), France (7.5 million pounds), Spain (6.7 million pounds), Italy (6.4
million pounds) and Thailand (4.1 million pounds).  Full story, reuters.com

Woman charged with stealing $206,000
It took two years for someone to notice her scam, but now a 32-year-old Clare
woman is facing charges that she embezzled more than $206,000 from a small
family business.  Full story, ourmidland.com

SEC accuses former Veritas execs of financial fraud
The SEC accuses Leslie, Lonchar and Sallaberry of artificially inflating revenue and
earnings through a "round-trip" transaction with America Online Inc. in 2000 and
then lying to independent auditors. It says the fraudulent transaction inflated
revenue by $20 million.  Full story, mlive.com

More Companies Use E-Signatures to Cut Costs, Fraud
Seven years ago, after Congress validated "electronic signatures" in a new law,
John Crowley tested the technology with an eye toward using it at his mortgage-
and banking-services company. He quickly decided it wouldn't work.  Full story,
Smartpros.com

British man admits guilt in ‘Baywatch’ fraud
David W. Port, 53, admitted he had taken almost $360,000 from investors in the
United States and Britain. He had convinced his dupes that his Kansas City
company, PCG Media, owned the syndication rights in 17 foreign countries for the
TV beach drama “Baywatch.”  Full story, KansasCity.com

DA wants bail revoked for suspect in embezzlements
Lina Hinds, a 38-year-old bookkeeper from Concord, is currently under
investigation by the Berkeley Police Department, suspected of bilking a national
book distribution company out of some $300,000.  Full story, insidebayarea.com

Trade Becomes Route for Money  Tied to Terrorism
After a long and intense crackdown on cross-border money laundering, authorities
say terrorist supporters, narcotics syndicates and sanctions busters have adopted
a new method of sneaking funds past the watchful eye of the law: the global
commodity trade.  Full story, online.wsj.com