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Fraud

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.
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HEALTH
By Meredith Cohn, The Baltimore Sun | September 17, 2011
When Maxim Healthcare Services settled one of the government's largest-ever medical fraud cases last week, the Medicaid and Veterans Affairs contractor agreed to pay $150 million and implement a host of corporate reforms. But Maxim, a Columbia-based home health and medical staffing company founded by Ravens owner Steve Bisciotti, avoided the penalty that would have the biggest impact on its bottom line: disbarment from federal health care programs. That's the case with nearly all of the companies ever charged with cheating government programs — including thousands of health care companies that are defendants in most of the cases and that settled civil charges for a record $2.5 billion in the 2010 fiscal year.
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 Scott Higham and Scott Higham,SUN STAFF | February 7, 1997
The first member of an international Nigerian fraud ring to be sentenced in the case was rewarded this week for his cooperation with federal agents and prosecutors, which helped them piece together the complicated organization.Ehi Joseph Macaulay,31, who was based in Burbank, Calif., could have received as much as two years and three months in federal prison without the possibility of parole for conspiring to commit credit card fraud.Instead, prosecutors asked U.S. District Judge Catherine C. Blake in Baltimore on Wednesday to go easy on the Nigerian national and sentence him to 18 months in prison with the chance that he could serve some of that time under home detention.
BUSINESS
By Mark Guidera and Mark Guidera,SUN STAFF | November 11, 1997
A federal bankruptcy court judge yesterday paved the way for Wood Gundy London Ltd., of London, to pursue its multimillion-dollar fraud lawsuit against two principal insiders behind Novatek International, the bankrupt Columbia-based company under federal investigation for stock fraud.Wood Gundy and other creditors in the lawsuit are seeking the return of $8 million paid out by Novatek.Judge James F. Schneider set deadlines for lawyers to complete the gathering of evidence and filing motions in the case.
BUSINESS
By BLOOMBERG NEWS | December 4, 1999
NEW YORK -- The sentencing of Patrick Bennett, convicted of 42 fraud and money-laundering counts in what prosecutors called the nation's biggest Ponzi scheme, was postponed yesterday as a federal judge threatened to impose a longer jail term if Bennett does not reveal where the stolen money went.Prosecutors said thousands of small investors were cheated in the $700 million scheme by Bennett, 46, former chief financial officer of Syracuse, N.Y.-based Bennett Funding Group Inc.Long jail term possibleU.
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.
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.
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 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.
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