Word: fraudsters
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...credit has also been a fraudster's dream. A recent report from the Treasury Department's inspector general identified 167 suspected cases of fraud and was looking into more than 100,000 potential civil violations related to the tax credit. In one case, a 4-year-old child was able to claim the credit. (See the top 10 tax dodgers...
...cops normally do when they catch a thief in the act and don't think he's acting alone - they make him an informant. The informant in this case was a failed developer turned bank-fraud artist named Solomon Dwek, who then hung out his shingle as a bankruptcy fraudster who would launder money or buy off politicians for a small fee. The feds threw Dwek in the water like chum and waited to see what else they could catch. (Read a 1973 TIME article on corruption in American politics...
...financial thrillers such as Number Account and the recent Rules of Deception. "Madoff had decades to prepare for this day, and it's likely he's hidden considerable assets," says Reich. "Numbered accounts in Swiss banks are no good today; the Swiss cooperate too much." Instead, a white-collar fraudster like Madoff could create multiple phony investment-advisory businesses in foreign countries, similar to legitimate businesses he's actually working with. Says Reich: "All he has to do is create fake invoices over the years and pay in to those fake companies, then create new phony businesses in other countries...
...upside of the ever churning online rumor mill is that it does justice to those subjects who have come by their bad reputations legitimately. "Every fraudster in the world thinks that we're here to help them out, but we're not," says Robert Russo, CEO of Defend My Name. For bad guys, the megaphone of the Web can be a very useful thing. For everybody else, it's nice to know that when the virtual community starts to whisper, you can now shout back...
...Department official, "saying 'Cease and desist--you're going to screw this deal.'" Chalabi may live in London, but he is not a favorite of British officials. "The I.N.C. has precious little influence inside Iraq," says one. "People see them as corrupt and Chalabi as a bit of a fraudster." The Kurds dominate in the north and are often at odds with Chalabi. In the south, the Supreme Council for Islamic Revolution in Iraq, led by Ayatollah Mohammed Baqir al-Hakim and backed by Tehran (southern Iraq, like Iran, is mostly Shi'ite), has more clout...