Word: fraud
(lookup in dictionary)
(lookup stats)
Dates: during 1990-1999
Sort By: most recent first
(reverse)
...states -- sought bankruptcy court protection after firing president Michael Monus and chief financial officer Patrick Finn and taking a $350 million write-off. The company claimed that Monus and Finn embezzled $10 million and overstated profits, then sued its accountants, Coopers & Lybrand, for failing to spot the fraud. Coopers countersued, accusing Phar-Mor executives of providing false and misleading figures to audit...
...says the two men participated in a scheme to cook the company's books, forcing it to write off $350 million -- including the allegedly stolen funds and $340 million in overstated profits. The privately held concern has dismissed auditor Coopers & Lybrand, which it blamed for failing to spot the fraud. The accounting firm says Phar-Mor's move was "apparently designed to posture, bluster and transfer blame...
CREDIT: [TMFONT 1 d #666666 d {Sources: Fair Trade Fraud by James Bovard; TIME estimates}]TIME Graphic by Joe Lertola...
Kevin and Ian Maxwell, sons and business associates of the late publishing czar Robert Maxwell, had trouble enough already. Kevin was indicted for conspiracy to defraud banks and for stealing from the pension funds of his father's employees, while Ian was hit for bank fraud. Now a British court has assessed Kevin $778 million in damages for his actions as a director of the firm that managed the funds. Ian's penalty is pending...
...Housing and Urban Development from 1984 to 1987, Deborah Gore Dean administered programs intended for the poor to favor well-connected real estate developers and Republican consultants. Broadening a two-count indictment issued against her in April, a federal grand jury indicted Dean, 37, on 13 criminal charges of fraud, perjury and conspiracy. The indictment accused her of using her position to dispatch $230,000 in HUD funds to John Mitchell, Richard Nixon's Attorney General...