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NEWS
By MATTHEW DOLAN and MATTHEW DOLAN,SUN REPORTER | August 10, 2006
Two Maryland Transit Administration police officers and a bus driver falsely reported their cars stolen, had them set on fire and collected the insurance money, according to a federal fraud indictment unsealed in Baltimore yesterday. Officer James Walthall, 40, of Randallstown has been charged in U.S. District Court with mail fraud and use of fire to commit mail fraud in connection with the alleged arson and insurance fraud scheme. He appeared in court yesterday afternoon and was released pending his next court date.
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BUSINESS
By Paul Adams and Paul Adams,Sun reporter | April 19, 2008
A federal judge in Cleveland approved a settlement yesterday worth more than $16 million between Ferris, Baker Watts and victims of an investment fraud that was aided by a former Ferris broker. The deal resolves disputes between the Baltimore brokerage and about 100 victims of the fraud, which grew out of a Ponzi scheme carried out by a former Ferris client, David A. Dadante. It also answers lingering questions about the firm's potential legal liability as it strives to complete its sale to Royal Bank of Canada in a stock deal valued at about $230 million.
SPORTS
By Jon Morgan and Jon Morgan,SUN STAFF | December 5, 2002
WASHINGTON -- A California gambler yesterday filed suit against Autotote Systems Inc., alleging that the company's widely used wagering equipment is so badly designed and operated that honest bettors have lost millions of dollars to fraud. Jimmy "The Hat" Allard, who described himself as an actor turned professional "racehorse analyst," said the admission of bet rigging by a former Autotote computer programmer prompted him to file the class-action suit. "For years, I have said I believe somebody is getting into the computers and I believe somebody is past-posting us," Allard said at a news conference at the National Press Club.
BUSINESS
By Scott Higham and Scott Higham,SUN STAFF | October 31, 1996
A Towson-based defense firm pleaded guilty to fraud and obstruction charges yesterday, and faces $1.5 million in fines and a possible ban on all future military contracts.Environmental Technologies Group Inc. held two military contracts worth more than $62 million to make nearly 10,000 hand-held chemical agent monitors, devices designed to help soldiers detect nerve agents and mustard gas on the battlefield.Assistant U.S. Attorney James G. Warwick said in U.S. District Court in Baltimore yesterday that Environmental Technologies submitted false claims in connection with the contract three years ago and later obstructed a federal audit by providing the auditor with false information.
BUSINESS
By Marcia Myers and Marcia Myers,STAFF WRITER | October 21, 1995
The president of Wye River Inc., the Eastern Shore-based marketer of seafood seasonings and other products, was charged yesterday with defrauding the Food Lion grocery chain of more than $300,000.Beginning in 1988 and continuing until August 1993, Joseph L. Bernard III overcharged the grocery chain by listing inflated prices on invoices, according to federal prosecutors.The company produces and markets seasonings for crabs, plus other products such as crab soup, tartar sauce and seafood cocktail sauce.
BUSINESS
By Lorene Yue and Lorene Yue,Your Money | February 13, 2005
Lots of buyers and sellers have discovered the fun and profit of dealing with Internet auction sites. Unfortunately, so have plenty of crooks. Fraud represented 61 percent of the more than 635,000 consumer complaints received by the Federal Trade Commission last year. Fraud related to any type of Internet activity dominated, while problems specifically tied to Internet auctions (nondelivery, lower value than promised, delays) ranked highest among complaints. Experts recommend a thorough reference check before doing business with an unknown seller, avoiding wire transfer services for making payment and being leery of escrow services suggested by the seller.
NEWS
By Los Angeles Times | September 6, 1991
WASHINGTON -- Unisys Corp. has agreed to plead guilty to fraud and bribery charges arising from Operation Ill Wind, the wide-ranging probe of defense procurement practices, and will pay $190 million in fines and forfeited profits, government and company officials said yesterday.The settlement, which includes the largest defense fraud penalty ever, is to be filed today in U.S. District Court in Alexandria, Va., officials said.The Pennsylvania-based company is expected to plead guilty to charges that it employed a variety of schemes to rig bids on lucrative defense contracts, create secret slush funds, hire corrupt consultants and funnel bribes to government officials.
BUSINESS
By BLOOMBERG NEWS | January 26, 2005
BIRMINGHAM, Ala. - HealthSouth Corp. founder and fired chief executive Richard M. Scrushy was a "cunning" and "hands-on leader" who directed a $2.7 billion accounting fraud and enriched himself as he fooled investors, a prosecutor told jurors yesterday at the start of Scrushy's fraud trial. "You're going to hear evidence that Richard Scrushy knew about the conspiracy, that he participated in the conspiracy and that he profited from the conspiracy," U.S. Attorney Alice H. Martin told jurors in her opening statement.
NEWS
By BOSTON GLOBE | October 29, 1996
CAMBRIDGE, Mass. -- Nobel laureate David Baltimore, his career ravaged by a decade-long scientific fraud case that was only recently judged baseless, called yesterday for major changes in the way government and academia pursue alleged misconduct and blasted "self-appointed fraud police" who presume scientists are guilty until proven innocent.In his first extended public comments on the case, Baltimore, a Massachusetts Institute of Technology professor of immunology and molecular biology, also had harsh words for his critics, calling them "scurrilous," "pernicious," "bulldogs" and "out of control."
BUSINESS
By THE DENVER POST | March 16, 2005
The Securities and Exchange Commission sued 12 former Qwest Communications International Inc. executives - including one-time chief executive officer Joseph P. Nacchio - yesterday for allegedly inflating the company's financial performance and misleading investors. The SEC described Qwest under Nacchio as "a culture of fear" with subordinates desperate to meet his demands to hit revenue targets. The SEC accused the executives of a "massive financial fraud" that caused Qwest to record about $3 billion in false revenue and helped inflate its stock to cinch its 2000 merger with U S West, a regional phone company.
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