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FRAUDBARON.com
The Anti-Fraud Professionals'
Source for Fraud News
#475 Updated: 9/18/07 9:09 a.m.

Sentinel Wired $11M to Founder, Wife
Sentinel Management Group Inc. wired more than $11 million to trusts belonging to its
founder and his wife just 30 days before filing for bankruptcy protection last month, having
told its investors it didn't have the cash to meet their withdrawal requests.  Full story,
forbes.com

Real estate scheme brings 12-year term
Gene A. O'Neal, 36, who headed the real estate investment firm Pinnacle Development
Partners LLC, advertised in publications like Newsweek, BusinessWeek and The Atlanta
Journal-Constitution and drew in more than $60 million in investments, prosecutors said.  
Full story, ajc.com

Mentor to Fraud? Two Former Execs Settle with SEC
The SEC charged that the CEO of a failing company taught the treasurer how to inflate
borrowing certificates to boost cash flow.  Full story, CFO.com

Two Ex-Penn Traffic Execs Charged
Two fired executives of Penn Traffic Co., a regional grocer, have been charged with fraud for
repeatedly inflating reported income through improper promotional allowances, federal
regulators said Monday.  Full story, chron.com

2-year sentence for money laundering
One of the state's most slippery white-collar criminals will spend two years in federal prison
after being sentenced Monday in U.S. District Court in St. Paul.  Full story, startribune.com

California Bank Fined $31 Million for Skimping on Anti-Money Laundering Campaign
The charges came about because of transactions conducted between May 2003 and April
2004 involving accounts at the bank that were in the name of Mexican currency exchange
houses. Undercover operations by the U.S. and other governments document the export of
multi ton shipments of cocaine from Colombia to Mexico, with the final destination of the
drugs the U.S. and Europe.  Full story, associatedcontent.com

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