Word: fraud
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Dates: during 1990-1999
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...labyrinthine lawlessness of the Pakistani Bank of Credit & Commerce International. But unlike depositors shut out in places like Britain and Hong Kong, they felt no real impact. That changed after a New York grand jury indicted Sheik Khalid bin Mahfouz, head of Saudi Arabia's National Commercial Bank, for fraud in connection with the scandal. Last week the Federal Reserve sought a $170 million fine from Mahfouz -- the largest ever from an individual -- for his alleged role in illegally buying a controlling interest in Washington's First American Bankshares from B.C.C.I., and the Comptroller of the Currency ordered the close...
...when citizens apply for drivers' licenses or government benefits, Clinton was ready with a quip. "With 10 million Americans out of work," he said, "no wonder the President doesn't want to make it easier to vote." Bush's argument that the bill was needlessly bureaucratic and open to fraud was expected, but oh so uncomfortable in a season of such discontent...
...escape justice," declared Morgenthau. The D.A. then made good on his threat by delivering a grand jury indictment of billionaire Sheik Khalid bin Mahfouz, CEO of the National Commercial Bank, the largest commercial bank in Saudi Arabia, and a financial adviser to the Saudi royal family, on charges of fraud. Other targets of a criminal grand jury led by Morgenthau include intimates of the royal families of Saudi Arabia and the United Arab Republic. Mahfouz, a principal shareholder in B.C.C.I., was charged with involvement in a billion-dollar scheme to defraud investors and deceive U.S. banking regulators. His bank...
...phone call that was wiretapped, that they were running out of places to stash all the illicit cash they were taking in. With such evidence in hand, an army of more than 1,100 FBI agents and other federal law-enforcement officials ended the largest health-care fraud investigation to date. Under the complex scheme, medical professionals and their accomplices stole tens of millions of dollars from Medicaid as prescriptions were falsified or resold. Said President Bush after the arrests: "These people are charged with betraying a sacred trust...
...value to a "diverter," who would repackage and resell it, often on the black market in Puerto Rico. In New York City, this sort of scheme is known on the street as "playing the doctor." Law- enforcement officials estimate that these and many other forms of fraud drain upwards of $75 billion from the U.S. health-care system every year...