Archives
_________::::____#242- August 22, 2006________________
#242 Updated: 8/22/06 1:50 a.m.

08/21/06 5 indicted in multimillion dollar car loan fraud scheme
Five men, four from the Houston area, have been charged in a multimillion-dollar
automobile loan fraud scheme that preyed on lenders, the U.S. Attorney's Office
announced today.

08/21/06 Fraud risks can hamper India Inc's global aspirations: E&Y study
A survey by international consulting firm Ernst and Young in emerging markets has
revealed that fraud levels in India are considerably higher at 42 per cent than the
global levels of 27 per cent.

08/21/06 Dentist sentenced to prison for tax fraud
A dentist was sentenced to a year in prison on tax-fraud charges and ordered to
pay more than $500,000 in restitution.

08/21/06 SEC Accuses Group of Fraud
The Securities and Exchange Commission on Monday filed a lawsuit in an effort to
freeze the assets of a group of New Yorkers accused of selling at least $1.6 million
of fraudulent investments to unsuspecting investors, many of them elderly.

08/21/06 Strategy should start in the boardroom
After five years of intense focus on compliance following the excesses of the
1990s, it is time for the boards of US companies to concentrate their attention
where it belongs: on strategy.

08/21/06 Chairman of Shanghai Electric Resigns
The chairman of Shanghai Electric Group and two of its directors have resigned
"for personal reasons" amid an investigation into alleged misuse of public funds,
the company said Monday.

08/21/06 Tax Court Stands Tough on Clothing Deduction
The U.S. Tax Court denied a petition from a West Virginian welder to deduct the
cost of the Rocky Wolverine boots, as well as other clothes and gloves, which he
said he purchased specifically for his work during the 2002 tax year.

08/21/06 Enron Judge's Decision Triggers Alarm
A decision by the judge overseeing Enron Corp.'s bankruptcy has generated alarm
across Wall Street, prompting warnings from investment banks, bond traders and
stock investors that it could do broad harm to U.S. capital markets.
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