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_________::::___#324 - December 21, 2006________________
FRAUDBARON.com
The Anti-Fraud Professionals'
Source for Fraud News
#324 Updated: 12/20/06 4:22 p.m.

Best of 2006: Accounting
The most common causes of financial restatements are "simple misapplications of
GAAP" and bad bookeeping. At least, that's what Scott Taub, then the deputy
chief accountant of the Securities and Exchange Commission, said in a speech this
fall.

Enron: Beyond the Verdicts
Before it became a synonym for scandal, Enron was feted as an innovation
machine. Today its ideas are still making billions, for others.

Mortgage fraud gets Dearborn man up to 11 years
A Dearborn man faces up to 11 years in prison and $250,000 in fines after he
pleaded guilty to orchestrating a $15 million mortgage fraud scheme, the U.S.
Attorney's Office in Detroit announced today.

Knight pleads guilty in fraud scheme
James "Jimmy" Knight pleaded guilty to multiple fraud charges for stealing more
than $4.4 million dollars from more than 50 victims, U.S. Attorney Catherine
Hanaway said Tuesday.

Canada police bust fraud ring targeting U.S. seniors
Canadian police said on Tuesday they had dismantled a telemarketing fraud ring
that bilked 500 victims a week, mainly in the United States, for three years.

Former Enterasys execs convicted of fraud
Four former executives of privately held computer security company Enterasys
Networks Inc. have been convicted of accounting fraud, the U.S. Department of
Justice said on Wednesday.