Fraud Headlines Archive


2011 Articles 



“Brazen Scheme” Alleged  

Nation’s largest banks and mortgage companies defrauded veterans, taxpayers, a lawsuit claims. (The Washington Post)


Iranian Fraud Scandal  

Nearly two-dozen reportedly arrested for alleged $2.8 billion embezzlement. (Bloomberg Businessweek)




One Bad Apple
ACFE President and CEO James Ratley, CFE, describes the harm a rogue employee can do to a business. (Wall Street Journal)

Jump in Mortgage Fraud Tips
New FinCEN report finds an 88 percent increase in fraud tips during the second quarter. (Bloomberg Businesweek)

Spotting a Fraud

Madoff whistleblower Harry Markopolos, CFE, CFA, writes that simple checks can detect a fraud. (Bloomberg Businessweek)

Latest Ponzi Flushed Out?

Feds say “Full Tilt” online poker site was operated as a global Ponzi scheme.(CBS News)



Corporate Punishment
With stakes high, white collar criminals face stiffer punishment worldwide. (Inside Counsel)

Chasing Madoff

The documentary that chronicles Harry Markopolos’s pursuit of Bernie Madoff is now in theaters. (New York Times)

Guilty of Bank Fraud

An ex-Citibank VP has pleaded guilty for stealing millions in a fraud scheme. (Bloomberg)

Hedge Fund Fraud

Chicago fund manager pleads guilty, faces up to 20 years for role in $292 million fraud. (Bloomberg)

Climate for Fraud

An FBI report shows the resilience of mortgage fraud during the bust that followed the housing boom. (Mortgage News Daily)

Tearful Testimony 

Former NFL quarterback Ty Detmer testified against his ex-boss, who is accused of running a Ponzi scheme. (Austin American-Statesman)

UK's Most Wanted for Fraud 

Crimestoppers has released a list of the United Kingdom’s 10 most wanted fraudsters. (Sky News)



Archived Articles 


More Legal Woes for BofA
Bank of America sued by 15 former investors for 'massive and pervasive fraud'. (Reuters)


Five-Year Sentence for Minkow
Repeat offender may serve less than three years for his relapse into fraud, however. (Forbes)


Skills of the Trade
An online resource for security professionals identifies five "must-have" skills for fraud examiners.


Who Commits Fraud?
A new report from KPMG adds to research that helps profile the typical fraudster.


Mortgage Exec Gets 30 Years
The ex-chairman of Taylor, Bean & Whitaker has been sentenced to 30 years in prison for mortgage fraud. (Bloomberg)


Alleged Citigroup Fraud Tops $19 Mil
Feds say midlevel accountant was living a high life with luxury homes and cars. (The New York Times)


Fraud Investigators Killed
Two insurance fraud investigators were fatally shot while on the job in Louisiana.


Lanny Breuer, "Top Fraud Cop"
The Assistant Attorney General of theCriminal Division will share his insight at the 22nd Annual ACFE Fraud Conference


Calling All Whistleblowers
The SEC details new rules and potential big rewards for individuals who report corporate fraud. (USA Today)


Prison Looms for Fraudster
Convicted of stealing $21 million, an L.A. investor faces a sentence of up to 80 years. (Los Angeles Times)


Guilty Plea
A day trader accused of fraud in connection with Lehman Brothers Holdings, Inc., enters his plea in court.


States of Fraud
A new LexisNexis report identifies the worst U.S. states for mortgage fraud. (Forbes)


FBI Issues Fraud Alert
Phishing and malware scams move $11 million from U.S. businesses to Chinese companies (CNET)


Fraud's Impact in Europe
The new European edition of the ACFE's Report to the Nations finds a high median fraud loss in that region.


"Reckless Lending" Charge
U.S. prosecutors file a billion-dollar civil mortgage fraud suit against Deutsche Bank. (New York Times)


Longest-Running Bank Fraud Halted
Taylor, Bean & Whitaker chairman convicted on 14 counts of fraud. (Jacksonville Business Journal)


Spreading Blame?
Bernie Madoff points the finger at banks, regulators and associates for alleged complicity in his scheme. (Forbes)


John Walsh at Fraud Conference
Crime fighter, host of "America's Most Wanted" will address the ACFE Fraud Conference, June 12-17, 2012 in San Diego.


U.S. vs. Lee Farkas
Blogging for Forbes, Walt Pavlo writes that "the trial of the first big name from the financial meltdown" has begun.


James Ratley on MSNBC
ACFE President & CEO James D. Ratley, CFE, discusses the red flags of credit card fraud on MSNBC's "Your Business."


'Deceived and Defrauded'
The CEO of Fair Finance Co. and National Lampoon Inc. is indicted for an alleged $200 million Ponzi scheme. (Bloomberg)


Latest Ponzi Scheme Charges
A "brash" money manager faces civil charges for alleged involvement in the $194 million Wayzata fraud. (Minneapolis Star-Tribune)


Fraud Fugitive
Hiding in Iran, an accused fraudster writes in e-mails about his bribery "mistake." (The Oregonian)


Corporate Fraud's Comeback?
CFO Magazine's cover article examines the fraud threat, still looming large despite Sarbanes-Oxley and Dodd-Frank.


Warning Signs Ignored?
An unnamed Citigroup executive ignored Madoff red flags, a new lawsuit alleges. (Bloomberg)


Career Opportunities
View job listings, enhance your resume, gain tips and read inspiring profiles in the new ACFE Career Center


Scrushy Loses Appeal
$2.88 billion civil verdict against former HealthSouth CEO stands after court ruling.


Record Fraud Before UK Courts
A survey by KPMG finds fraud losses of £1.4bn ($2.18 billion U.S.) in cases heard before UK courts last year. (BBC News)


The ACFE Needs You
Anti-fraud professionals are encouraged to apply to be members of the new ACFE Advisory Council


James Ratley Honored
ACFE President James D. Ratley, CFE has been named one of the most influential executives by Security Magazine.


The Trust Factor
Research at Northwestern University explores trust, shedding light on Madoff's crime and other Ponzi schemes. (Forbes)


Hong Kong Rule Change
Will more fraud go undetected due to a change in accounting standards in Hong Kong? (Wall Street Journal)


Sixteen Years for Fraud
A former Quest Energy executive will go to prison for a scheme to defraud the company of $1 million. (FBI)


Bringing Fraud Along for the Trip
Travel expense fraud can add even more strain in a distressed economy, the New York Times reports.


Fighting Oil Spill Fraud
Authorities bring the first charges of fraud related to the BP spill, with more to come. (USA Today)


No Political Play
A report clears the SEC of accusations that its Goldman Sachs fraud case was politically motivated. (Washington Post)


Massive Fine for Fraud
Former Société Générale trader accused of fraud is hit with €4.9 billion fine. (Bloomberg)


ACFE Member Profile
Forensic auditor gains worldwide recognition with fraud certification


Fair Warning of Fraud?
The FBI warned of the "epidemic" of mortgage fraud as early as 2004, according to a CNNMoney interview with Phil Angelides


Doctor Accused of Health Care Fraud
Brooklyn proctologist arrested for phony bills


Ponzi Schemer Gets Jail
A 22-year fraud nets a Chicago man a 23-year sentence. (Bloomberg)


Life Insurance Fraud
A trio in Houston is accused of defrauding hundreds of investors of $103 million. (Bloomberg)


Whistle-blower Attacked
An incident in China highlights the dangers faced by whistle-blowers worldwide. (Christian Science Monitor)


Proof of Fraud?
A Certified Fraud Examiner traces criminal conduct by Stanford's bank. (Bloomberg)


Accountant Turned CFE
Her first fraud case set Kasondra Fehr on the path to becoming a Certified Fraud Examiner


Fighting Small Business Fraud
A Wall Street Journal report draws on ACFE's Report to the Nations for facts on small business fraud.


Senate Passes Sweeping Reform
Legislation to overhaul the financial regulatory system will go to President Obama (CNNMoney)


Seeing Red Flags
An article from examines small business fraud and ways to avoid it


'Honest Services' Ruling
Ebbers, Skilling et al: Bloomberg
BusinessWeek takes a look at who might gain from High Court decision


High Court Upholds SOX
The Sarbanes-Oxley Act survived a major Supreme Court challenge with few changes (Washington Post)


Madoff Money Claim
Bernard Madoff reportedly told fellow inmates of $9 billion he hid from
prosecutors (Daily Telegraph)


Q&A with Dr. Wells
Journal of Accountancy cover article features Dr. Joseph T. Wells, CFE, CPA and the 2010 Report to the Nations 


ACFE Releases Global Fraud Report
2010 Report to the Nations benchmarks occupational fraud trends worldwide for the first time


Mortgage Fraud Guilty Plea
A Calif. homebuilder pleads guilty in a $100 million scheme (Bloomberg BusinessWeek)


Chinese Mogul's Fall
A high school dropout and self-made billionaire will serve 14 years in prison for fraud in China (New York Times)


Paying for Fraud
Two former Refco directors will forfeit $39 million in fraudulent earnings that will go to victims (Reuters)


Copiers Hold Secrets
Concerns continue to mount following this CBS special report about digital photocopiers


'Scarlet Letter' of Greed
A writer suggests the Goldman Sachs image is tarnished beyond repair (New York Times)


Neil Barofsky to Address Fraud Fighters
The Special Inspector General for TARP will speak at the ACFE Fraud Conference in July


White Collar Criminals
An ABC News article takes a look at bad choices, "squishy ethics" and the people who commit fraud


Senate Panel: Major Fraud at WaMu
An investigation report describes widespread fraud in mortgage lending practices


Morgan Keegan Charged with Fraud
The SEC accuses the brokerage firm of fraudulent practices they say cost investors more than $1 billion


Attention: Certified Fraud Examiners
Read about the new ethics requirement for Continuing Professional Education (CPE)


Cyber Criminals Go Corporate
The FBI says that the cyber threat has become more organized and coordinated, Main Justice reports.


Victims of Madoff, Stanford Join Forces
Victims of Bernie Madoff and alleged fraudster Allen Stanford are uniting to try to recover funds, Bloomberg BusinessWeek reports.


Know, Prepare, Check
A new article for business owners provides guidance on protecting against the threat of fraud.


Trusted Employees Burn Businesses
An article in the Wall Street Journal examines small business employee theft.

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