Word: bogus
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...crime was perfect only in its ghoulish symbolism: the perpetrators allegedly drew blood from poor people, paying them as little as 50 cents a vial, then falsely claimed the samples came from Medicaid patients and billed the Government for millions of dollars' worth of bogus laboratory tests. The alleged Medicaid rip-off, for which a physician and nine others were indicted in New York City, was only the most lurid example in a chain gang of new and continuing fraud cases that shuffled across front pages last week. In virtually every one of half a dozen scams, members...
Should they be convicted, Wasson and Pulliam will join a growing army of felons in the financial industry. The majority of the crimes, including fraudulent land deals, payouts to bogus borrowers and lavish living at depositors' expense, have been uncovered in Texas and California, where financial institutions grew especially fast in the early 1980s. But the problem is by no means restricted to those states. A report issued in January by the Comptroller of the Currency found that in 35% of the 189 U.S. bank failures from 1979 to 1987, fraud or insider abuse was "a significant factor." Among...
Working on a grander scale, according to federal indictments, were the 111 defendants who have been charged with floating more than $500 million in bogus loans for a partly completed condominium development ten miles northeast of Dallas, alongside Interstate 30. One prominent S and L owner named in the case was Welba Lee Keetch, 52, a 300-lb. Texan known as Bubba. Authorities say Keetch and two colleagues kept $12.9 million from loans made by First Savings and Loan Association of Burkburnett, which Keetch controlled...
...advantage. But in hindsight it is striking that the overstuffed larders of Bush and Dukakis never became campaign issues. The Vice President, in fact, only narrowly edged Dole and Robertson in the greenback derby; the difference was that Bush husbanded his cash far more effectively. Dukakis cleverly deployed a ; bogus PAC-man issue to keep his underfunded rivals on the defensive. Political-action-committee funding may be a problem in congressional races, yet it was a minor factor in the 1988 primaries. By frequently chastising Gephardt for accepting PAC support, Dukakis pre-empted any populist complaints that he was trying...
...Square. "It's so funny how these people with all kinds of titles behind their name automatically think that I should give them extra-special treatment," Anderson says. "It's funny how they treat me until they find out I go to Harvard. To me, that's kind of bogus because I was the same person I was before they knew where I went. I'll be glad when I'm at a place where people meet you first and then judge whether they like you and respect...