Word: fraud
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Dates: during 1990-1999
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...just one more computer product that fails to live up to its hype; it's a hollow piece of Potemkin programming, devoid of the advanced, patent-pending compression technology touted in its packaging. In short, says Mark Russinovich, a University of Oregon computer scientist, "the thing is a fraud...
...POINT DURING THE DEFENSE summation in the U.S. District Court wire-fraud proceedings against boxing promoter Don King, his premier fighter, the convicted rapist Mike Tyson, could be seen dozing off on a bench in the back of the New York City courtroom, holding a book of essays by Leo Tolstoy: What Is Art? At the time, Dostoyevsky's Crime and Punishment seemed a better choice: the prosecution had called 18 witnesses to back up its claim that King falsified a contract to collect $350,000 from Lloyd's of London for a canceled fight in 1991, and the defense...
...good news for embattled boxing promoter Don King is that prosecutors will not appeal a mistrial ruling in his insurance fraud case. The bad news? Federal prosecutors immediately pushed for a retrial. A mistrial was declared Thursday when jurors remained deadlocked over whether King falsified a contract to collect $350,000 from Lloyd's of London if a 1991 fight was canceled. The defense maintains that King, who has survived three grand jury probes and was aquitted of tax evasion in 1985, was the innocent victim of his accountant, the implausibly named Joseph Maffia. King's defense contends that Maffia...
...their impact became the stuff of high drama last week when federal regulators gave Daiwa 90 days to pack up and leave the U.S. In a move coordinated with the regulators, a federal grand jury in New York City indicted the bank on 24 criminal counts of conspiracy and fraud connected with a cover-up of Iguchi's losses. That could lead to $1.3 billion in fines if the bank is convicted. Masahiro Tsuda, general manager of Daiwa's New York City office, was charged with taking part in a conspiracy with the bank and Iguchi, who last month pleaded...
Federal prosecutors are reported by Business Week to be looking into whether influential Wall Street columnist and broadcaster Dan Dorfman was involved in illegal insider trading, wire and mail fraud and securities-law violations through his friendship with a stock promoter. Dorfman, who denies the allegations, has taken a leave from MONEY magazine (which is owned by Time Inc.) pending resolution of the matter...