Debt Collection, or Lack Thereof

Debt Collection, or Lack Thereof As reported recently by The Long Beach Post, according to an audit of the City's Business Relation Bureau that spanned two years, $2.4 to $2.6 million in outstanding business license accounts have not been collected by the City of Long Beach. http://www.lbpost.com/business/2000001889-city-auditor-2-4-to-2-6m-in-delinquent-business-license-accounts-uncollected#.UTTbYldZ_Q8 Residents are fuming at the lack of tenacity [...]

City of Stockton Bankruptcy Approved

What does bankruptcy approval for the City of Stockton mean for other California cities? Perhaps it paves the way for other California cities (such as the City of San Bernardino who filed for bankruptcy protection in August) to do the same. According to Cal Watchdog, Your Eyes on California Government, the City of Stockton owes [...]

By |2013-04-02T20:36:00-07:00April 2nd, 2013|Forensic Accounting, fraud, Corruption, forensic accountant, government fraud, Bankruptcy, bankruptcy court, Chapter 9, city bankruptcy, City of Stockton, Pension reform|Comments Off on City of Stockton Bankruptcy Approved

Municipal Fraud- West Linn, Part 1 of 3

Municipal Fraud- West Linn Part 1 of 3 Municipal fraud is all around us explains Richard Seals CFE, CPA, CMA in his recent article: From First to Worst in Fraud-Magazine. http://www.fraud-magazine.com/article.aspx?id=4294977156 West Linn, Oregon’s former city finance director, Elma Magkamit, was a compulsive gambler. She also lied about being both a college graduate and a [...]

By |2013-03-13T23:46:00-07:00March 13th, 2013|audit, ponzi, financial fraud, Corruption, forensic accountant, municipal financial management, municipal fraud|Comments Off on Municipal Fraud- West Linn, Part 1 of 3

First 5 LA gets blasted for crappy accounting

Can I say "crappy"? Yes, I believe I can. And did. Apparently, First 5 Los Angeles has accumulated $800 million of taxpayer money that they're sitting on. They apparently spend $180 million per year but can't quite spend the whole amount they get ... so it sits in the bank. THAT'S OUR MONEY PEOPLE! "An [...]

By |2020-11-16T09:30:23-08:00October 26th, 2011|audit, financial fraud, internal control systems, non-profit, non-profit fraud, nonprofit, Corruption, crappy accounting|Comments Off on First 5 LA gets blasted for crappy accounting

Minkow back to the Clink!

ZZZ Best superstar Barry Minkow, King of the Ponzi's, became a preacher, a self-appointed fraud detector and finally a stock manipulator. Now he gets 5 years in the clink. for securities fraud. A good friend told me once ... the way someone does something, is the way they do everything. (translation ... Leopards don't often [...]

By |2011-07-27T01:21:00-07:00July 27th, 2011|Forensic Accounting, due diligence, fraud, ponzi, financial fraud, non-profit, get rich schemes, Corruption, Embezzlement, Lennar, Minkow, ponzi scheme|Comments Off on Minkow back to the Clink!
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