Word: fraude
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...starting to produce results. Operation Ill Wind -- the two-year Justice Department inquiry into whether defense contractors bribed Pentagon officials for contract information -- blew in its first indictments and guilty pleas. Two defense contractors and nine men, including a middle-ranking Pentagon official, were hit with charges that include fraud, conspiracy, racketeering and bribery...
...Urban Development and the U.S. prison system, 45 inmates at the Federal Correctional Institution in Lexington, Ky., were set to work entering data from thousands of applications for FHA insurance into a computer. But Beverly Hirsch, 36, who is serving a 40-year sentence for credit-card and check fraud, was surprised to see that some forms carried not only information on applicants' income and debts, but their bank-account and credit-card numbers as well. "The information they were giving me in here was what I worked pretty hard on the outside to get," says she. Concerned that some...
...Drexel had done nothing wrong, a shaken board of directors voted 16 to 6 to accept the stiff terms proposed by Rudolph Giuliani, U.S. Attorney for the Southern District of New York. The deal calls for Drexel to plead guilty to six felony counts involving mail, wire and securities fraud and to pay a record $650 million in penalties. Some $300 million of the fine would go to the Government, which has spent an estimated $10 million prosecuting the case so far, and $350 million would be set aside to compensate the victims of Drexel's wrongdoing...
...suffer from an overabundance of hubris that concealed a fatal flaw. In Drexel's case, it was Milken's growing appetite for power and control. The turning point came in November 1986 when Ivan Boesky, a notorious Wall Street speculator, pleaded guilty to a single count of securities fraud and agreed to pay $100 million to settle SEC charges that he had used insider information to buy and sell stock. Boesky, who is serving a three-year term in a minimum-security prison in Lompoc, Calif., agreed to identify others who had joined his schemes. The trail led to Drexel...
Searches by two major Protestant churches typify the mysterious, arduous process of "calling." -- The feds slam ptl' s fallen star Jim Bakker (but not Tammy) with a giant fraud indictment...