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_________::::___#308 - November 29, 2006________________
FRAUDBARON.com
The Anti-Fraud Professionals'
Source for Fraud News
#308 Updated: 11/28/06 9:11 p.m.

Missing: Audit Committee Accountants
A new study finds that while a majority of companies reported having at least one
audit committee member with financial expertise, just 23 percent of those so-
called experts had accounting backgrounds.

Diller derides investor watchdog groups
IAC/InterActiveCorp. (IACI.O: Quote, Profile, Research) Chief Executive Barry Diller,
who had an estimated $295 million in compensation last year, said on Monday
many corporate governance activists are "birdbrains" who are hurting American
business.

EU Raises Travelers' Duty Free Allowance
European Union finance ministers on Tuesday approved new higher limits for
travelers' duty free allowances.

Orem man pleads guilty to tax fraud
An Orem man pleaded guilty Monday to one count of conspiracy to defraud the
government after admitting to participating in an investment fraud scheme that
cost the IRS an estimated $7 million over a nine-year period.

Siemens says several employees suspended amid fraud allegations
Siemens AG said several employees have been suspended on allegations of fraud.

San Diego school district sets up ethics program
The San Diego Unified School District, which employs 15,800 workers and has an
annual budget of more than $1 billion, has hired an ethics officer and activated a
fraud hotline.

Gray's actions reviewed in grand jury report
The 10th Multicounty Grand Jury issued its final report Tuesday. The report
confirmed the grand jury issued an indictment against current District Attorney
Richard Gray of Wagoner.

Woman sentenced to 3 years
She was spared jail five years ago when she admitted to stealing $125,000 from
a North Providence church’s collection plates. But yesterday, a Superior Court
sheriff handcuffed Mindy Andreozzi Schwegmann and hauled her off to prison for
three years.