fraud

Top 5 most interesting facts from ACFE 2018 Report to the Nation

Every two years the Association of Certified Fraud Examiner releases a study on fraud in their Report to the Nation. The 2018 report was recently released and I found the following facts to be very interesting. Over $7 billion in total losses. This number continues to increase.   A majority of the victims recovered nothing. [...]

Association of Certified Fraud Examiners Release 2014 Fraud Report

Working with companies who have been victims of fraud on a regular basis, the report provided by the Association of Certified Fraud Examiners for 2014, hits the nail on the head. Here is a summary of their findings: Typical organization loses 5% of revenue each year to fraud. Median loss in their study was $145K. [...]

Riverside County Real Estate Fraud & Ponzi Scheme

Hendrix Montecastro, Helen Pedrino Convicted in $142 Million Ponzi Scheme in Riverside The Associated Press reported the real estate investment scam to be approximately $142 million in fiscal scope. The defendants used seminars, internet ads, and word of mouth to lure people in Riverside County, California and Arizona to invest in a series of shell [...]

By |2018-05-25T13:07:54-07:00June 6th, 2013|fraud, fraud prevention, helen pedrino, hendrix montecastro, multi level marketing, ponzi scheme, ponzi schemes, pyramid scheme, real estate fraud, shell company, white collar crime|Comments Off on Riverside County Real Estate Fraud & Ponzi Scheme

Non-Profit Fraud, Kareem Abdul-Jabbar’s Charity Scam?

Last month the web was inundated with news of allegations made against Kareem Abdul-Jabbar’s charity, the Skyhook Foundation based out of Long Beach, CA.  In 2009 when the foundation opened, Mr. Abdul-Jabbar said “I have decided to open up the Skyhook Foundation to improve people’s lives through sports and education because my life could not [...]

By |2013-05-31T18:57:00-07:00May 31st, 2013|990, celebrity non-profit, charity fraud, conflict of interest, Forensic Accounting, fraud, iconomy, kareem abdul-jabbar, kareem abdul-jabbar non-profit, non-profit, scam, skyhook foundation|Comments Off on Non-Profit Fraud, Kareem Abdul-Jabbar’s Charity Scam?

Fraudsters Targeting YOU! Affinity Fraud Part 1 of 3

What is Affinity Fraud? I recently stumbled upon a 3-part video on Affinity Fraud, aptly titled Affinity Fraud: Preying on Those Who Pray. Every year, billions of dollars (in the U.S. alone) are stolen from unsuspecting victims of this kind of fraud. http://www.youtube.com/watch?v=vUv4dDavC6U&list=PLDF985F76B59B68E7&index=1 Simply put, although there’s nothing simple about it, affinity fraud occurs when [...]

By |2013-04-30T17:53:00-07:00April 30th, 2013|affinity fraud, Forensic Accounting, fraud, fraudsters, madoff, ponzi, ponzi scheme, scams, victims of fraud|Comments Off on Fraudsters Targeting YOU! Affinity Fraud Part 1 of 3

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|Bankruptcy, bankruptcy court, Chapter 9, city bankruptcy, City of Stockton, Corruption, forensic accountant, Forensic Accounting, fraud, government fraud, Pension reform|Comments Off on City of Stockton Bankruptcy Approved

Municipal Fraud Prevention- West Linn, Part 2 of 3

Municipal Fraud Prevention- West Linn Part 2 of 3 The current West Linn Finance Department (after the 1.42 million dollar scandal), much like a Phoenix rising from the ashes, crafted a new mission statement. The forward moving department proclaims proudly “being good stewards of taxpayers’ monies is the Finance Department’s main focus, but that alone [...]

By |2013-03-20T15:42:00-07:00March 20th, 2013|audit, city fraud, city mismanagement, Forensic Accounting, fraud, internal control systems, municipal financial management, municipal fraud, non-profit, ponzi scheme|Comments Off on Municipal Fraud Prevention- West Linn, Part 2 of 3
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