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_________::::___#318 - December 13, 2006________________
FRAUDBARON.com
The Anti-Fraud Professionals'
Source for Fraud News
#318 Updated: 12/12/06 8:06 p.m.

Audit Relief Coming for Small Businesses
Revisions to a landmark 2002 anti-fraud law will include relaxing some rules for
small public companies in a bid to curb what they say have been excessive costs
related to audits, the Securities and Exchange Commission's accounting chief said
Monday.

Skilling Ordered to Prison Immediately
A federal appellate court denied former Enron Chief Executive Officer Jeffrey
Skilling's request to remain free during his appeal Tuesday and ordered him
imprisoned immediately.

Fannie Mae Sues KPMG
Both the mortgage company and its ex-auditor the targets of a shareholder suit in
U.S. District Court, where KPMG now intends to sue Fannie.

Former bank worker sentenced for embezzlement
A former employee of a St. Louis-area bank has been sentenced to 4 1/2 years in
prison for embezzling more than $250,000 from the bank, U.S. Attorney Catherine
Hanaway said Tuesday.

U.S. indicts 21 over Romanian-based Internet fraud
U.S. officials on Tuesday announced the indictment of 21 people accused of bilking
eBay bidders out of $5 million through an Internet fraud scheme that originated in
Romania.

Jury weighs fraud charges against former Enterasys executives
A federal jury was deliberating fraud charges against five former Enterasys
Networks executives accused of scheming to inflate company revenues.

Canada a world leader in mortgage fraud, investigators warn
Canada is becoming a global trendsetter in the burgeoning business of mortgage
fraud, say law-enforcement experts and investigators gathered this week at an
international crime conference.