_________::::___#495 - October 24, 2007________________
FRAUDBARON.com
The Anti-Fraud Professionals'
Source for Fraud News
#495 Updated: 10/24/07 9:04 a.m.

Accounting fraud is hard to find, but there are clues
How to do I find out whether a company has safeguards and procedures in place to protect
investors from fraud?  Full story, usatoday.com

Seal Beach approves $350,000 for tech upgrades
A criminal investigation is ongoing into allegations that a former city director
misappropriated funds slated for the project.   Full story, ocregister.com

Former Lockheed Employee Sent to Prison
A former Lockheed Martin Corp. employee who stole $160,000 from the company's political
fund was sentenced Tuesday to 16 months in prison.  Instead of making campaign
donations, Phelps forged the signatures of two Lockheed executives and deposited the
checks into his personal bank account from 2002 to 2005. He wrote the checks for $500
and $1,000 — amounts commonly associated with political contributions made by Lockheed
— to avoid being caught.   Full story, ap.google.com

Former Lake Linden treasurer gets year for embezzlement
Cheryl Stevens was fired from her position earlier this year after an audit of the village’s
water and sewer funds showed an unexplained deficit of more than $75,000.  Full story,
mininggazette.com

University System to audit all employee purchasing card transactions
Perimeter College employees were the worst abusers among a sampling of seven agencies
reviewed by the Georgia Department of Audits and Accounts.  Full story, ajc.com


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