Word: fraud
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...Kozlowski and Swartz aren?t exactly sympathetic figures. They were found guilty of looting their company of hundreds of millions of dollars. Before Monday's sentencing, Assistant District Attorney Owen Heimer told the court that Kozlowski "should not be shown any leniency. He stole. He committed fraud. He committed perjury. He engaged in a shocking spree of self-indulgence...
...former Tyco executives entered the courtroom Monday with one-time WorldCom Chairman Bernard Ebbers already having been sentenced to 25 years in prison for the $11 billion accounting fraud that toppled his company (which has emerged from bankruptcy as MCI) and Adelphia Communications founder John Rigas having been sentenced to 15 years in prison for looting and fraud at his company. His son and former finance chief, Timothy Rigas, got 20 years...
...This is the new reality for white collar criminals. When the stock-market bubble burst five years ago, the wave of corporate frauds that came to light inflamed the public. Since then, bruised investors have been demanding amends. Twenty years ago, a similar rash of Wall Street fraud resulted in only a few honchos like Michael Milken going to prison, and spending less than two years there. Now the pendulum has swung the other direction. In addition to jail time, Kozlowski and Swartz must pay a total of $134 million in restitution; in addition, Kozlowski was fined $70 million, Swartz...
...estimates from websites that have been making matches, more than 20,000 evacuees are staying in the homes of strangers. In some cases, the results have been predictably disastrous. A Minnesota woman unwittingly took in a woman who turned out to be wanted in Florida on suspicion of organized fraud, grand theft and probation violation, according to the St. Paul Pioneer Press...
Four months after their barefoot beach wedding on the Caribbean island of St. John, actress RENEE ZELLWEGER, 36, and her country-singer husband KENNY CHESNEY, 37, have suddenly filed to annul their sudden marriage. In court papers, the Bridget Jones star cited "fraud" as the official reason for the annulment--a legal declaration that the union was invalid from the start--but clarified that the term is "simply legal language and not a reflection of Kenny's character" (though we're not sure she was around long enough to judge). In plain language, fraud means one partner deceived the other...