ACFE Honors Journalist Allan Dodds Frank for Exposing Fraud



AUSTIN, Texas (April 4, 2013) – The Association of Certified Fraud Examiners (ACFE) announced today its selection of Allan Dodds Frank as the recipient of its 2013 Guardian Award, bestowed annually on a journalist whose “determination, perseverance, and commitment to the truth have contributed significantly to the fight against fraud.”


The Guardian Award will be presented to Frank at the 24th Annual ACFE Global Fraud Conference, June 23-28, in Las Vegas, Nev. The ACFE is the world’s largest anti-fraud organization and premier provider of anti-fraud training and education.


Frank, a regular contributor to and Newsweek/The Daily Beast, was chosen in recognition of a broadcasting and print career in investigative reporting during which he has specialized in complex fraud cases. He has covered white-collar criminals including Bernard Madoff, Martha Stewart and Tyco’s Dennis Kozlowski, insider trader Raja Rajaratnam and savings and loan kingpin Charles Keating.


At Bloomberg television, he led coverage of the AIG collapse and court cases against former New York Stock Exchange CEO Richard Grasso, and uncovered $500 million in fake bonds created by Refco and Bawag (an Austrian bank in the fraud that led to the collapse of Refco), which had been the biggest commodities firm in the United States. In another investigation, Frank produced exclusives about the global counterfeiting of pharmaceutical products and devices by manufacturers in China and India.


Frank began his broadcasting career in 1988 at ABC News, where he was the first business investigative correspondent on network television.  He was featured as the reporter on the street for “Business World with Sander Vanocur” and appeared on “World News Tonight with Peter Jennings,” “Good Morning America” and “Nightline with Ted Koppel.”


At CNN and CNN/fn, Frank was the investigative correspondent for "Moneyline with Lou Dobbs." Among his earlier honors: two national Emmy Awards and the 2002 Gerald Loeb Award for the Best Financial Reporting on Television for his stories about the financing of global terrorism.


While a senior editor at Forbes, Frank was the first reporter to write about money laundering at the Bank of Credit & Commerce International. He also exposed the bribery and kickback scheme being run by P. Takis Veliotis, the general manager of the nuclear submarine shipyard owned by General Dynamics in Groton, Ct.


At the Washington Star, Frank broke a series of exclusives about Billy Carter being bribed by the Libyan government. He also uncovered the story about the Fairfax City Police Department being bribed by CIA officers to facilitate break-ins at civilians’ residences in Fairfax.


Frank’s most recent investigation was about counterfeit 5 Hour Energy drinks for He is currently working on a book about the world’s greatest white-collar criminals. He is also spearheading the creation of OPC Global Parachute, a worldwide database for journalists that is being funded by a Ford Foundation grant through the Overseas Press Club of America.


ACFE President and CEO James D. Ratley, CFE, said that Frank is well deserving of the Guardian Award.


“Throughout his distinguished career, Allan Dodds Frank has shed light on the deeds of fraudsters and brought their stories before the public eye,” Ratley said. “Through his tireless investigative reporting, Mr. Frank has exposed the truth and, by doing so, furthered the public good.”


Frank said: “This award from the premier group of professional investigators dedicated to exposing fraud and corruption is a tremendous honor for me. I can only hope the news business continues to value and highlight the great investigative work done by fraud examiners on behalf of their clients and the public good.” 


Last year marked the first presentation of the Guardian Award, which bears the inscription “For Vigilance in Fraud Reporting.” Last year’s recipient was New York Times writer and bestselling author Diana Henriques, who wrote the true-life financial thriller The Wizard of Lies about Madoff and his scheme. 


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