_________::::___#470 - September 10, 2007________________
FRAUDBARON.com
The Anti-Fraud Professionals'
Source for Fraud News
#470 Updated: 9/9/07 1:06 p.m.

Hyundai chairman deemed too important for prison
An appeals court yesterday suspended a three-year prison sentence for Hyundai Motor Co.
chairman Chung Mong-koo, saying the tycoon is too important to South Korea's economy to
go to jail for embezzlement.   Full story, boston.com

Pearlman Loses Orlando Home
Boy-band mogul Lou Pearlman is losing his lakefront Orlando home and a New Jersey
condominium in bankruptcy proceedings, as he faces separate federal charges of
defrauding a bank out of $20 million.  Full story, ap.google.com

Guilty Plea in Fraud Case
The former general partner of Gateway Capital LP pleaded guilty to wire fraud after
allegedly using millions of dollars of investor funds for personal expenses and the purchase
of about $3 million in gold coins. Full story, online.wsj.com

Woman pleads to embezzlement charge
Lake Linden President Pro Tem Ed Fisher fired Stevens earlier this year after an audit of the
vilage’s water and sewer funds revealed discrepancies of more than $75,000 over a five-
year period. Stevens had served as the village’s treasurer for about 11 years.  Full story,
miningjournal.net

Kinderhook bank VP gets 18 months in embezzlement case
As part of a plea agreement, Kline admitted that he had hid from the bank the fact that
three companies had defaulted on loans issued starting in 1992. He did this by making new
loans to pay the old loans that had not been paid.  Full story, bizjournals.com

Enron's Skilling asks court to throw out all his convictions
Former Enron CEO Jeff Skilling gambled and lost when he put his fate in a jury's hands.  Full
story, chron.com

Money-laundering pastor gets 5 months in prison
From April to October 2005, he deposited money into his Pentecostal Church of God bank
and credit union accounts, Lopez said. Then he transferred the money to the bank account
of a fictitious person, representing that the deposits were donations to Hurricane Katrina
victims or payments for church expenses.  Full story, sltrib.com
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