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Fraud

BUSINESS
By Kelly Gilbert and Kelly Gilbert,Evening Sun Staff | November 8, 1991
Robert Shulman, Bolar Pharmaceutical Inc.'s former president, chief executive and board chairman, has pleaded guilty to conspiracy, obstruction of justice and other charges tied to fraud in the company's generic-drug operation.First Assistant U.S. Attorney Gary P. Jordan said in U.S. District Court in Baltimore yesterday that Shulman also has agreed to plead guilty to an unspecified antitrust violation to be filed here soon by the U.S. Department of Justice.Lawrence G. McDade, assistant director of the Justice Department's consumer litigation office, told Judge John R. Hargrove yesterday that Shulman and Jacob H. "Jack" Rivers, Bolar's former executive vice president, masterminded the company's massive fraud to skirt federal procedures in the manufacture and sale of its highly profitable products for six years.
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NEWS
By Larry Carson and Larry Carson,Evening Sun Staff | September 4, 1991
If life is a roller coaster, Margaret Murray and her family are at the top of the incline, and they're hoping -- no, praying -- that there's a nice level section of track ahead.An 11th-hour ruling by a Baltimore County Circuit Court judge, reversing his own ruling from last spring, has saved Murray's modest Taylor Avenue rowhouse and the home of her 83-year-old mother from the auction block. It has also relieved Margaret Murray of responsibility for paying $34,000 in principal, interest and late fees on an 11-year-old mortgage loan she and her husband obtained from a disreputable loan merchant.
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.
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 Mark Guidera and Mark Guidera,SUN STAFF | February 21, 1997
Three shareholders have filed a $55 million fraud lawsuit in U.S. District Court in Baltimore against the chairman and former officers and directors of Novatek International Inc., the Columbia-based company under federal investigation for stock fraud.Meanwhile, Joseph E. "Chick" Celentano, a Connecticut businessman, has filed a separate $3 million civil suit claiming he was defrauded by his cousin, Vincent D. Celentano, a Florida businessman who is one of Novatek's major shareholders.In a suit filed in U.S. District Court in Connecticut, Joseph Celentano charges his cousin induced him to invest in Novatek and a related venture in Russia, Health Care, Ltd., using false and misleading information.
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.
BUSINESS
By BLOOMBERG NEWS | August 23, 2001
DAKOTA DUNES, S.D. - IBP Inc., the No. 1 U.S. beef producer, said yesterday that it's suing Andrew J. Zahn, former head of its DFG Foods unit, alleging embezzlement and inflation of financial statements by more than $50 million. The lawsuit, filed in U.S. District Court in Chicago, accuses Zahn and other former DFG executives of manipulating accounting records to conceal fraud, IBP said. The complaint is part of the fallout from an ill-fated agreement IBP made with Tyson Foods Inc. in January to be acquired for more than $4 billion by the largest poultry processor.
NEWS
August 22, 1997
A Baltimore company has agreed to pay $50,000 to settle a fraud claim that it improperly dumped contaminated waste into the city's sewers, the U.S. attorney's office said yesterday.The company, Clean America, had a contract to dispose of waste water contaminated by fire-fighting foam used to douse jet fuel fires after tests at the Randle Cliff Research Laboratory in Chesapeake Beach.Instead of shipping the waste to a facility in Delaware, prosecutors say the company instead decided to dump it down city sewer drains.
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