Word: scams
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Dates: during 1980-1989
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Initially, the bank had zeroed in on the records of a black boxing promoter named Harold Smith, 37, chairman of an organization called Muhammad Ali Professional Sports, or MAPS, which seemed to be at the center of the scam. But as the investigation went on it became clear that the real mastermind was Lewis, a black who, like Smith, was a board member of MAPS. When told during a Jan. 23 interrogation that auditors from the head office in San Francisco would see him after lunch, Lewis walked out and never returned...
...bank's oversight practices are. So Cooley decided last week to assert that the nation's eleventh largest bank had not become an embezzler's playpen. He sent a letter to the bank's 15,000 employees, detailing what has been learned of the scam, and started talking to newsmen. Said he: "It appears that some of our policies were laxly controlled. But I guarantee you that there will be greater emphasis on operational controls and policies than there...
...only as trustworthy as the people who use them. Lewis knew the procedural ropes, having earlier in his eleven years with Wells Fargo worked in the bank's computer center. Though federal officials regard Wells Fargo as a well-managed bank, some critics have wondered whether Lewis' scam went on so long in part because the bank has been adding so many branches-nine a year-that finding competent supervisors has been difficult. Cooley concedes that Lewis found "a flaw in our system." But the bank has changed its $1 million "trigger point" and the five-day timing...
...revelations-which included solid leads in a $5.85 million heist from a Lufthansa terminal at New York's Kennedy International Airport in 1978-were charges that almost as a sideline, he had rigged the outcome of Boston College games. According to Hill, he became involved in the scam when a former penitentiary pal introduced him to a friend of a Boston College reserve forward, Rick Kuhn. Kuhn allegedly enlisted the services of Sweeney, an honors graduate who proved to be a sharp negotiator, Hill asserted, indicating games that could easily be rigged and bargaining for payoffs even when...
Boston College Coach Tom Davis has reviewed the allegedly fixed games anc has said he can find nothing to indicate that his players had done less than their best. But he and other college coaches no doubt shuddered at Hill's succinct summation of his scam: "Point shaving is sneaky ... Kids have made thousands of bad passes by mistake for nothing, so what was so bad about making just one more bad pass and getting paid...