Bankrupt Banker

Brett Travis Wynne used internet banking facilities to transfer the money in 72 transactions from December last year.

Brett Travis Wynne used internet banking facilities to transfer the money in 72 transactions from December last year.

A finance broker has been charged with stealing more than $23,000 from his employee in the Perth suburb of Northbridge.Police allege 23-year...

FBI has found a large number of counterfeit Cisco Routers in active production at secure US Military and Intelligence facilities.

FBI has found a large number of counterfeit Cisco Routers in active production at secure US Military and Intelligence facilities. The origin...

Wesley Snipes says he will appeal against a three-year jail term

<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi5fqNNRNrAACr5bimUDaVgdN2LHEapIZc-_B-RVdY1TxAF21S74g8IIVH6FOIoGMZ2cdJmw2eLOSZp3z7IfYDpf0i5OdCHSdNHCWfKnrjznMfmPd_TdoIR5EkzEzAixkCA3YTKNUH6Fn3v/s1600-h/Wesley-Snipes-2008042509083003hg2.jpg"><img alt="" border="0" id="BLOGGER_PHOTO_ID_5193289486477855746" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi5fqNNRNrAACr5bimUDaVgdN2LHEapIZc-_B-RVdY1TxAF21S74g8IIVH6FOIoGMZ2cdJmw2eLOSZp3z7IfYDpf0i5OdCHSdNHCWfKnrjznMfmPd_TdoIR5EkzEzAixkCA3YTKNUH6Fn3v/s320/Wesley-Snipes-2008042509083003hg2.jpg" style="float:left; margin:0 10px 10px 0;cursor:pointer; cursor:hand;" /></a> actor Wesley Snipes says he will appeal against a three-year jail term for failing to lodge tax returns from 1999 to 2004.US Federal Court judge William Terrell Hodges laid down the harshest possible sentence against Snipes, after the star of such movies as Demolition Man and the Blade trilogy of vampire movies was found guilty by a jury in February on three misdemeanour charges.US Attorney Scotland Morris, who argued the Government's case, said Snipes owed more than $US20 million ($A21 million) in back taxes and penalties.The actor made a $US5 million payment to the Internal Revenue Service (IRS) on Thursday but Mr Morris dismissed it as "a fraction of what he owes"."Snipes' long prison sentence should send a loud and crystal-clear message to all tax defiers that if they engage in similar tax-defier conduct, they face joining him and his co-defendants … as inmates in prison," said Nathan Hochman, an official at the Justice Department's tax division.IRS commissioner Douglas Shulman said: "The law is very clear: people must pay their taxes. There is no secret formula that eliminates a person's tax obligations, nor are there any special exceptions."Lawyers for Snipes, 45, said they would appeal."We were hoping for a complete acquittal," lawyer Linda Moreno told reporters. "I have faith in the process and I have faith in the jury system. We will appeal."Another defence lawyer, Carmen Hernandez, said: "Mr Snipes was sentenced because he's Mr Snipes." Judge Hodges denied that Snipes' celebrity was in any way linked to the sentence.The actor's lawyers asked Judge Hodges to allow Snipes to be sent to a prison close to his home in the north-eastern state of New Jersey. The judge said he would consider the request.A martial arts fanatic, Snipes is famous for inserting quotations from Sun Tzu's The Art of War into his characters' roles.Snipes, who has appeared in about 50 movies, also starred in White Men Can't Jump and Spike Lee's Jungle Fever.During the day-long hearing the actor apologised to the court for his actions.Ms Hernandez argued that Snipes in August offered to plead guilty to one misdemeanour and pay the back taxes to avoid prison time, but prosecutors had demanded he admit to a felony, a harsher crime.

Wesley Snipes says he will appeal against a three-year jail term

actor Wesley Snipes says he will appeal against a three-year jail term for failing to lodge tax returns from 1999 to 2004.US Federal Court j...

Wesley Snipes was given the maximum sentence possible

<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgeFTRQ1Mv6TU_9a7-4CQFvTXpFhE1bxf91W1GsVnLvy-oHX4nx7900qOsLqZDlEu3UlEhQwJQotbp_-mu33ZOmVx-qbykaeiMYGs4y0tDygSAUyh9VJwks5zw3WlajtpP0GkKaDNahO5fa/s1600-h/wesley_snipes_mugshot.jpg"><img alt="" border="0" id="BLOGGER_PHOTO_ID_5193122815976967138" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgeFTRQ1Mv6TU_9a7-4CQFvTXpFhE1bxf91W1GsVnLvy-oHX4nx7900qOsLqZDlEu3UlEhQwJQotbp_-mu33ZOmVx-qbykaeiMYGs4y0tDygSAUyh9VJwks5zw3WlajtpP0GkKaDNahO5fa/s320/wesley_snipes_mugshot.jpg" style="float:left; margin:0 10px 10px 0;cursor:pointer; cursor:hand;" /></a>45-year-old Hollywood actor, who has starred in films including Blade, White Men Can’t Jump and Demolition Man, was given the maximum sentence possible after prosecutors described him to a court in Ocala, Florida, as a “truly notorious offender.” He did not have to go to prison immediately but must surrender to custody at a later date. Wesley Snipes was sentenced to three years imprisonment last night for his defiance of the US taxman. Snipes sat expressionless as the sentence was handed down. Asked if he had any reaction, he spread his arms and shrugged. One of his lawyers, Carmen Hernandez, complained: “Mr Snipes was sentenced because he’s Mr Snipes.” The decision by US District Court judge William Terrell Hodges came two months after a jury convicted Snipes on three counts of willfully failing to file federal tax returns from 1999 to 2001. <a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi7KzhQ7k-FgY7m-pPS1eKDe-q8XTb3cHs4emSLPAIwQl-gEFtlICNr6qm58BftzyZcJrjAxXsYFyStCht4hzOTsMNW6F7vqAFM49nIfyUxl0eKCHp3nKDpCNQNCcfy5oysFJc5nqFfPwUX/s1600-h/wesley_snipes_narrowweb__300x460,0.jpg"><img alt="" border="0" id="BLOGGER_PHOTO_ID_5193122820271934450" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi7KzhQ7k-FgY7m-pPS1eKDe-q8XTb3cHs4emSLPAIwQl-gEFtlICNr6qm58BftzyZcJrjAxXsYFyStCht4hzOTsMNW6F7vqAFM49nIfyUxl0eKCHp3nKDpCNQNCcfy5oysFJc5nqFfPwUX/s320/wesley_snipes_narrowweb__300x460,0.jpg" style="float:left; margin:0 10px 10px 0;cursor:pointer; cursor:hand;" /></a> The court heard yesterday that Snipes dodged $15 million (£7.5 million) in tax through a campaign in which he concealed millions offshore, falsely applied for tax refunds and bombarded the Internal Revenue Service with frivolous correspondence that threatened government employees, railed about extortion and used twisted legal interpretations to back his claim that taxation was unlawful. “For nearly a decade, Snipes has engaged in a campaign of criminal tax conduct combining brazen defiance with insidious concealment,” the prosecuting attorney, Robert O’Neill, told the court in a sentencing memorandum. “In the defendant Wesley Snipes, the court is presented with a wealthy, famous and inveterate tax scofflaw. If ever a tax offender was deserving of being held accountable to the maximum extent for his criminal wrongdoing, Snipes is that defendant.” Wearing a black suit and black tie, Snipes — a twice divorced father of five aged from 1 to 19 — clasped his hands together in a gesture of prayer as he arrived at the courthouse. “He is contrite, promises that he will never again break the law, and respectfully asks the court to consider not just the jury verdict but also all the good that he has done in his life,” his attorneys told the judge in a written document. At the hearing Snipes’s lawyers tried to give the court three envelopes with cheques amounting to $5 million, but the judge and prosecutor said that they could not accept them. An official of the Internal Revenue Service collected the money during a recess. Snipes’s big-screen career took off in 1987 after he caught the eye of the film director Spike Lee for his role as a gang leader in the Michael Jackson music video Bad. He went on to star in more than 40 films, taking roles that range from a crusading vampire to a jazz saxophonist. But his belated contrition and celebrity failed to impress Judge Hodges, despite written pleas for leniency from 31 character witnesses including fellow acting stars Woody Harrelson and the Academy Award-winning Denzel Washington. “Wesley is like a tree — a mighty oak . . . Many who know him have witnessed the fruit of his labours, have sat in his shade and even been protected by his presence,” wrote Washington. Harrelson called Snipes “a true citizen of the world” and said: “He strives for rightness in all his relations.” Snipes’s tax advisers, Eddie Ray Kahn — who has previous convictions for tax crimes — and Douglas Rosile were also jailed, for ten years and 54 months respectively. Snipes was cleared of more serious tax fraud charges in February. But Mr O’Neill warned supporters against describing that acquittal as a victory. “By virtue of his fame and his high-profile campaign of tax defiance, Snipes has become the public face of a movement whose members seize upon the slimmest of threads to justify their obstructive tactics,” he stated.

Wesley Snipes was given the maximum sentence possible

45-year-old Hollywood actor, who has starred in films including Blade, White Men Can’t Jump and Demolition Man, was given the maximum senten...

Health Visions Corp., pleaded guilty to mail fraud, was ordered to liquidate all assets within 10 months and give the proceeds to the U.S. government

federal judge on Thursday ordered a Philippines company to pay back $100 million it swindled from the U.S. military's health insurance program. Health Visions Corp., which pleaded guilty to mail fraud, was ordered to liquidate all assets within 10 months and give the proceeds to the U.S. government.Federal prosecutors say the company bilked the military's Tricare program out of $99.9 million between 1998 and 2004. The program insures 9.2 million current and retired servicemen and dependents worldwide.The company routinely inflated claims by more than 230 percent, operated a phony insurance program and billed for medical services never delivered, court records showed, and the Pentagon moved slowly to uncover the scheme.Assistant U.S. Attorney Peter Jarosz described Health Visions as the biggest violator yet in a long-running investigation into Tricare fraud in the Philippines. "This is basically a death sentence for the company. It will no longer exist and that will protect the Tricare program since it was the biggest violator," he said after the hearing. "We got what we needed out of this prosecution." The United States closed its military bases in the Philippines in 1992 and withdrew its active-duty forces, but thousands of retirees remained.Formed in 1997, Health Visions owned and operated hospitals and clinics in the Philippines and billed Tricare on behalf of other health care providers.On top of the $99.9 million in restitution, U.S. District Judge Barbara Crabb ordered the company to forfeit an additional $910,000 and pay a $500,000 fine.Health Visions will be required to sell off land, office buildings and hospitals in the Philippines and an airplane and houses in the U.S. under Crabb's order. The company has run into problems selling hospitals because of ownership disputes, and Jarosz said it was uncertain whether the U.S. government would ever recover the full amount.The company's lawyer, Christopher Kelly, declined to comment. He told Crabb he had nothing to add beyond a plea agreement, which was unsealed on Thursday.Health Visions and its former president, Thomas Lutz, were hit with a 75-count indictment in 2005.Lutz, a U.S. citizen who turned 41 on Thursday, has pleaded guilty to his role in a kickback scheme and could face up to five years in prison when he is sentenced. A date for that hearing will be scheduled shortly now that the company has been sentenced, Jarosz said.The case has been an embarrassment to the Pentagon, where different branches have blamed one another for allowing the company's fraud to slip through the cracks.The fraud was so extensive that claims from the Philippines increased by 2,000 percent between 1998 and 2003 even as the number of Tricare beneficiaries remained the same. Payments to the country went up from less than $3 million to more than $60 million during that time.The Office of Inspector General has criticized Tricare's managers for waiting years to cut off payments to Health Visions after suspecting the company of fraud.William Winkenwerder, former assistant secretary of defense for health affairs, said Thursday that the inspector general's office was partly to blame because it refused his requests to send additional investigators to the country. He said he worked hard to stop the problems after they came to his attention in 2003.Asked how the company was able to defraud the program of $100 million, Winkenwerder said: "There were some very deceptive practices that were occurring. The fact that this was a faraway location did add to the challenge of uncovering problems. And they didn't get away with it ultimately, which is the good news."The investigation has been handled by prosecutors in Wisconsin because WPS Health Insurance, a Madison company, is the subcontractor that handles most overseas claims. About three dozen others have been indicted, mostly U.S. military veterans and Philippine doctors.

Health Visions Corp., pleaded guilty to mail fraud, was ordered to liquidate all assets within 10 months and give the proceeds to the U.S. government

federal judge on Thursday ordered a Philippines company to pay back $100 million it swindled from the U.S. military's health insurance p...

Protect the movies, say NO to piracy

Martial arts mega-celebrity Jackie Chan is putting his star power to work against film piracy in China, an industry executive says.The huge ...

Four laptops containing personal details of 10,000 people have been stolen from the Bank of Ireland

Four laptops containing personal details of 10,000 people have been stolen from the Bank of Ireland (BOI). The Data Protection Commissioner in Ireland is investigating the thefts.Data on the four laptops is not thought to have been encrypted, and BOI will now begin a process of encryption of data on its laptops.As well as names, addresses and financial details of customers the computers contained some medical records because they were part of the bank's life assurance business.Though the thefts of the laptops occurred last year between June and October the Data Protection Commissioner was not told until last Friday morning. The Commissioner has launched an investigation."The investigation will focus on the justification for the personal data, including sensitive medical data in some cases, being placed on the laptops in the first place, the security arrangements in place and the exact circumstances which led to the delay in the reporting of this matter internally within the Bank of Ireland to the appropriate personnel for the taking of further action," said a statement from the Commissioner."Consideration will then be given as to what further action will be sought from Bank of Ireland to ensure that the obligations contained in the Data Protection Acts in this area are met. The Data Protection Commissioner and the Financial Regulator are cooperating on this matter and we will refer any relevant issues to the Financial Regulator," it said. BOI said that the information concerned people who had taken out life assurance or received a quote at seven branches, which it named.Financial organisations possess huge amounts of personal data on customers and are amongst the more at risk companies from data theft or loss.The UK Information Commissioner's Office (ICO) said this week that half of the 28 data security breaches in the private sector that have been reported to it since last November have involved financial services companies.Earlier this month one of the world's biggest banks, HSBC, lost a computer disc with the policy details of 370,000 people on them in the UK.Customers lost £3.3m due to failures by Norwich Union to manage customer data effectively. The company was fined £1.26 million by the financial regulator the Financial Services Authority over the 2006 lapse.

Four laptops containing personal details of 10,000 people have been stolen from the Bank of Ireland

Four laptops containing personal details of 10,000 people have been stolen from the Bank of Ireland (BOI). The Data Protection Commissioner ...

Heather Taylor pleaded guilty to one count of fraud in British Columbia provincial court for an amount totalling $3,197,795

Heather Taylor pleaded guilty to one count of fraud in British Columbia provincial court for an amount totalling $3,197,795, which included $2,801,028 for payroll source deductions that weren't remitted to the government and a further $396,767 in GST.An agreed statement of facts showed that Taylor and her husband, James Taylor, financed a lavish lifestyle, withdrawing more than $1.7 million from their companies from 2000 to 2003 while claiming modest incomes. BETWEEN MAY, 2000 AND APRIL 2003, THE COUPLE SPENT: $248,208 on miscellaneous items. $227,490 on travel. $168,127 on home furnishings and house wares. $142,500 for the rental of an 8,000-square-foot (743 square metre) oceanfront house in West Vancouver with an indoor swimming pool. $117,630 on restaurant meals. $100,889 on clothing, accessories and jewelry. $28,111 on wine. $36,200 for a nanny/housekeeper. For two of those years, the couple each claimed incomes under $35,000, and during the other two years they didn't file personal tax returns. In 2000, Heather Taylor reported total income of $17,800, and in 2001, income of $31,200. Her husband, who claimed he made support payments of $16,800 relating to a previous relationship during both those years, reported a total income after that was deducted of $30,000 in 2000 and $31,900 in 2001. A Canada Revenue Agency (CRA) investigation found that Heather Taylor was in charge of bookkeeping, payroll, and had responsibility for dealing with the CRA for several concrete forming companies operated by the couple. Of the eight companies listed in the agreed statement of facts, James Taylor's father Donald Taylor was the sole director of one, Corewest Forming Ltd. But as with the other seven companies, Heather Taylor was found to have signing authority of that company's bank account and managed the financial affairs.According to the statement submitted to court, employees were hired and paid to complete projects, leaving the company legally liable to withhold source deductions and to remit the employers' contributions for such items as federal income tax, Canada Pension Plan contributions, and employment insurance premiums.The companies were also subject to GST regulations, in which they would have to remit net GST they collected, subject to GST credits that could be claimed based on GST paid out in business activities.Taylor was convicted of one count of fraud covering two categories for failure to remit payments to the government: Payroll remittance fraud and GST fraud.

Heather Taylor pleaded guilty to one count of fraud in British Columbia provincial court for an amount totalling $3,197,795

Heather Taylor pleaded guilty to one count of fraud in British Columbia provincial court for an amount totalling $3,197,795, which included ...

Virendra Rastogi,Anand Jain ,Gautam Majumdar convicted of conspiracy to defraud

Virendra Rastogi (39), Anand Jain (43) and Gautam Majumdar (57), ex-directors of metal trading business RBG Resources, were convicted at London's Southwark Crown Court of conspiracy to defraud and remanded to custody this week. Judge James Wadsworth told the three they could expect 'long prison terms' when he sentences them on June 5. The conviction came at the end of a long drawn out international investigation. When investigators from the Serious Fraud Office (SFO) swooped on Rastogi in his Mayfair apartment here in 2002, he was found shredding wads of documents. For six years, Rastogi reportedly conned banks into funding non-existent metal trading deals using 324 fake companies that turned out to be based in small flats and shops, with few assets beyond a table and chair. The address of one company turned out to be a cowshed in India and another was a launderette in America. Hundreds of millions of dollars and pounds circulated around the globe on the instruction of the conspirators. "This was a sophisticated and complex enterprise; it continued for over four years, in increasing amounts and fooled not only the banks (who undertook their own due diligence) but also the auditors," the SFO said after they were convicted. It was an audacious fraud, underpinned by a very small amount of genuine business, which could be used to give credence to the wider claims of the businesses, the SFO added. RBG went in to liquidation in 2002, but in the years before its collapse, it was presented to its bankers, auditors and regulatory exchanges as an aggressively developing and successful business. "The truth was in stark contrast to this impression. Banks in the UK and elsewhere were persuaded to provide extensive financial facilities to RBG effectively secured against debts due to RBG from sales to customers," the SFO said. In the event these debts proved valueless as the transactions were not, as the banks believed, with independent third party customers but with companies, controlled by the Rastogi family around the world, it said. The fraud was discovered during investigations by the liquidators and the SFO, which also involved the Southern District of New York US Attorney's Office and FBI in the USA as well as Department of Justice and Police in Hong Kong. RBG's sister company Allied Deals which was run by Virendra Rastogi's brother Narendra, comprised the other half of a worldwide fraud, perpetrated for the benefit of the Rastogi family. RBG obtained funding from banks in UK and Europe, while ADI obtained funds from US banks which was all put into a common 'pot' for the use of the conspirators to support their own lifestyles. The SFO termed the case as a "huge enquiry" that required worldwide investigations and the co-operation of the governments of a number of jurisdictions. Vast quantities of documents and electronic material were inspected, reviewed and analysed, including a warehouse of material from Hong Kong and at least 2000 boxes of material from the USA.

Virendra Rastogi,Anand Jain ,Gautam Majumdar convicted of conspiracy to defraud

Virendra Rastogi (39), Anand Jain (43) and Gautam Majumdar (57), ex-directors of metal trading business RBG Resources, were convicted at Lon...

Deutsche Bank banned staff from visiting brothels on expenses

<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjWddpw8x3AIOWrrwo0g316i4UUY7LE45kfUyoT57ugEKmZ0cVn5h5FnKZ0MZJRKSFDcD_iCp6fWbK74QNja5CD0XfCFy9TGNj6kkHVVMLAs5Tw3Ed4OQC5T1Ktw00WSffNBSw27WETkorP/s1600-h/2409747636_a38afba4d7.jpg"><img alt="" border="0" id="BLOGGER_PHOTO_ID_5191968019530156898" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjWddpw8x3AIOWrrwo0g316i4UUY7LE45kfUyoT57ugEKmZ0cVn5h5FnKZ0MZJRKSFDcD_iCp6fWbK74QNja5CD0XfCFy9TGNj6kkHVVMLAs5Tw3Ed4OQC5T1Ktw00WSffNBSw27WETkorP/s400/2409747636_a38afba4d7.jpg" style="float:left; margin:0 10px 10px 0;cursor:pointer; cursor:hand;" /></a>Germany's biggest bank today banned staff from visiting brothels on expenses and putting hotel TV porn channels on their company credit card. The crackdown came in new rules issued to executives as Deutsche Bank cuts costs after losing at least £2billion so far in the global credit crunch. "Deutsche Bank does not approve of any adult entertainments and such expenditures will not be reimbursed", according to the memo leaked to news magazine Spiegel. Strapped: Germany's biggest bank is suffering the offset from the subprime lending crisisAccording to Spiegel, the new edict was aimed at senior staff in the bank's communications and social responsibility department. The memo further warns that the bank's credit cards must not be used for such purposes. Whether the ruling was prompted by a recent upsurge in executives seeking erotic relief from subprime deals that have gone bad was not specified. Further belt-tightening at the bank includes prior approval from a boss before a taxi can be taken, a limit of £50 on a business meal and train rides in Germany must all be second class if they are under one hour. Sex, yes, but don't charge us for it: Deutsche Bank warns staff One further stiupulation is that employees stepping off of overnight flights who are expected in work or at a business meeting are now to shower at the airport instead of booking a hotel room to do so. The reason for the memo: apparently there have been "minor infringements" of late which the bank wants to stamp out in hard times.

Deutsche Bank banned staff from visiting brothels on expenses

Germany's biggest bank today banned staff from visiting brothels on expenses and putting hotel TV porn channels on their company credit ...

Enrico Bondi said he would ask for as much as 14 billion euros ($22 billion) from Citigroup Inc.

Parmalat collapsed in December, 2003, in Italy's largest bankruptcy, later disclosing more than 14 billion euros of debt, about eight times the amount reported by its former management. Prosecutors filed charges after discovering that the company had never earned a profit after its stock market listing in 1992, though it reported earnings every year. Chief Executive Officer Enrico Bondi said he would ask for as much as 14 billion euros ($22 billion) from Citigroup Inc. after a court said his company could seek civil damages in a criminal trial against the U.S. bank in connection with the foodmaker's 2003 bankruptcy. Parmalat was admitted as a civil party in the trial in the Italian city of Parma, the company said in an e-mailed statement today. The claims would be in addition to a lawsuit filed against Citigroup for damages in the U.S. Citigroup said in an e-mailed statement that all charges against the bank were ``unfounded.'' ``Here 10 senior executives of Citigroup have been accused of having contributed to the Parmalat fraud,'' said Marco De Luca, a lawyer for Bondi, in an e-mailed statement. ``This was not a matter of a single episode which is coming to trial, but rather something that was a product of the Citigroup organization.'' Under Italian law, individuals can request civil damages during criminal proceedings. Bondi made the filing in his role as the court-appointed administrator who oversaw Parmalat's bankruptcy reorganization. Parmalat was relisted on the Milan stock exchange in October 2005. Bondi won his second mandate as CEO on April 8. ``If the defendants in a criminal trial are found guilty, the judge can award damages to those parties that have filed civil claims,'' said Stefano Putinati, a criminal lawyer based in Milan. Parmalat lawyer De Luca said he'd requested the ``entire amount of the fraud, equivalent to 14 billion euros, precisely because of the exceptional seriousness and causal effect that these matters had on the entire Parmalat fraud.'' Bondi on April 18 was excluded from making civil claims in a Milan trial against four banks, including Citigroup, for market manipulation. Citigroup is facing trial in the U.S. May 5 on claims by Parmalat that it aided and abetted larceny by corrupt insiders at the Italian dairy company. Bondi filed the lawsuit against Citigroup in New Jersey in July, 2004, accusing the U.S. bank of disguising debt and inflating cash flow from operations at Parmalat including raising money through a unit called Buconero, which means black hole in Italian. The cash was subsequently represented as equity on Parmalat's balance sheet. Bondi also accused Citigroup of knowing that Parmalat falsified invoices and of laundering misappropriated funds through its accounts. A New Jersey court last week threw out Bondi's claims of fraud, conspiracy, racketeering and unjust enrichment, narrowing the scope of the case and the damages sought. ``Judges both in the U.S. proceeding and the trial in Milan have radically reduced the requests advanced by Parmalat,'' Citigroup said in the statement. ``In the U.S. the damages requests have been radically reduced and in Milan Parmalat was excluded from the trial altogether.'' Investors have bought Parmalat shares on speculation they may benefit from legal settlements and have demanded the company loosen its limits on dividend payments. Bondi has collected more than 1 billion euros in settlements to date after filing charges against the dairy company's former lenders. ``The bottom line is that Citigroup is going to be taken to court and Parmalat could get several billion dollars from them,'' Alessandro Frigerio, a fund manager at RMJ Sgr in Milan, told Bloomberg Television. Frigerio does not hold Parmalat shares but is considering adding them.

Enrico Bondi said he would ask for as much as 14 billion euros ($22 billion) from Citigroup Inc.

Parmalat collapsed in December, 2003, in Italy's largest bankruptcy, later disclosing more than 14 billion euros of debt, about eight ti...

Michael Beker and former senior vice-president Arie Prilik face two counts each of wire fraud and one count each of conspiracy to commit wire fraud,

The charges related to an alleged attempt to defraud the U.S. Army's Tank-Automotive and Armaments Command (TACOM), a military unit responsible for equipping and training the Iraqi army, the Justice Department said.The alleged scheme could have resulted in the U.S. military overpaying $11 million US, the department said. Toronto-based Newcon Optik Ltd., chief executive Michael Beker and former senior vice-president Arie Prilik face two counts each of wire fraud and one count each of conspiracy to commit wire fraud, the Justice Department said in a news release.Newcon Optik and Beker also have each been charged with one count of money laundering."All allegations of wrongdoing are denied," criminal lawyer Brian Heller told CBC News. "This case, as you know, is before the courts, where I can assure you, it'll be vigorously defended. We look forward to a favourable resolution." Heller, who is representing Beker and Newcon, declined to provide further comment. As part of the scheme, a Newcon competitor was allegedly paid to withdraw from supplying TACOM with night vision goggles, creating an opening for another company to step in and supply TACOM with the equipment at a substantially inflated price, the department said. An initial $50,000 US payment was made to the rival firm, the department said.Thomas Barnett, assistant attorney general in charge of the Justice Department's antitrust division, said in the release that his unit "remains committed to detecting and prosecuting those who corrupt the defence procurement process at the expense of the U.S. military and the American taxpayer."20-year prison sentences possibleIf convicted on the conspiracy count, Beker and Prilik each face up to 20 years in prison for the wire fraud counts and up to five years in prison and a $250,000 US fine each, the department said. Beker, who's also known as Mendel Beker, faces imprisonment for up to 20 years and a fine of up to $500,000 US if convicted of the money laundering charge, the department said.The Justice Department said both men were arrested by the York Regional Police earlier this month. Insp. Tom Carrique said police were assisting the United States through Interpol and Canada's Public Prosecution Service, which is handling the extradition case.Beker, 57, of Thornhill, Ont., was arrested April 11 and released on bail, he said. Prilik, 40, also of Thornhill, was arrested April 18 and was expected to attend a bail hearing Monday in Toronto, he said.

Michael Beker and former senior vice-president Arie Prilik face two counts each of wire fraud and one count each of conspiracy to commit wire fraud,

The charges related to an alleged attempt to defraud the U.S. Army's Tank-Automotive and Armaments Command (TACOM), a military unit resp...

European stocks fell the most in a week after record oil prices dimmed the earnings

European stocks fell the most in a week after record oil prices dimmed the earnings outlook for airlines and carmakers and a slowing housing market weighed on Schneider Electric's sales. Air France-KLM and Daimler slipped the most in a week after crude climbed above $US117 a barrel. Schneider Electric, the world's biggest maker of circuit breakers, posted its biggest drop since January as sales missed analysts' estimates. Royal Bank of Scotland led banks lower after saying it may sell shares to shore up capital, while Barclays declined on a Merrill Lynch downgrade. Europe's Dow Jones Stoxx 600 Index lost 1.2% to 316.96, extending this year's decline to 13% on concern that rising energy costs and $US290 billion in writedowns and credit losses at financial companies will cut profit growth. ''Oil prices account for a large proportion of costs for many companies,'' said Chirin Gill, a fund manager at Daiwa SB Investments in London, which has about $US60 billion. ''Prices are likely to be stronger for longer, which is hurting the stocks.'' European companies will see their earnings shrink in 2008 for the first time in six years, according to analysts' estimates compiled by Bloomberg. Profit for companies in the Stoxx 600 may drop 0.5%, the data show. That's down from 11% growth forecast at the end of last year.

European stocks fell the most in a week after record oil prices dimmed the earnings

European stocks fell the most in a week after record oil prices dimmed the earnings outlook for airlines and carmakers and a slowing housing...

Ronald J. Martineau pleaded innocent in Lawrence District Court last week to charges of filing a false motor vehicle insurance claim and larceny

An employee of Martineau's Towing Service created bogus invoices for towing and rental costs totaling $11,000 after a company vehicle was involved in a crash a year ago, police said. A tractor owned by Martineau's was involved in a head-on accident on Haverhill Street on March 6, 2007.But Martineau's used its own vehicle to tow the tractor away and a replacement tractor to transport the trailer to its destination. It didn't pay other companies to tow the damaged vehicle or to replace it — as claimed in phony invoices that it faxed to Plymouth Rock Assurance Corp.Plymouth Rock insured the at-fault driver who crossed into the path of tractor driver Ronald J. Martineau, police said.Martineau, 44, of 7 Leonard Ave. in Salem, N.H., pleaded innocent in Lawrence District Court last week to charges of filing a false motor vehicle insurance claim and larceny over $250.If convicted on each count, Martineau could receive up to five years in state prison. He could also be fined up to $25,000 for the larceny charge and up to $10,000 for insurance fraud.Martineau declined to comment, citing the advice of his lawyer. Methuen attorney Peter Carrozza, who was hired to represent him, did not return a reporter's telephone call.Court documents show that Methuen police Detective Michael Blanchette cracked the case, working with a fraud investigator for Plymouth Rock. Blanchette has been the Methuen officer assigned to work on auto insurance fraud cases in recent months after the city began working with Lawrence's auto insurance fraud task force. The task force wasn't involved in this case.Martineau was not arrested. Instead, he was issued a court summons to be arraigned last week.The owners of the two companies that provided Martineau's with the invoices have not been charged and have given statements to police about their involvement.Blanchette began his investigation in April 2007 after receiving a complaint from a Plymouth Rock investigator.An employee for the towing company contacted Plymouth Rock, alleging that "Ron Martineau obtained blank tow invoice slips from Bauchman Towing Co. of Windham, N.H., and fraudulently completed them," Blanchette wrote in his report."These slips were for tows that were never made by Bauchman Towing Co.," the detective quoted the Martineau's employee as saying. When confronted by Blanchette, Brian Bauchman, owner of Bauchman Towing, admitted his company never towed anything — contradicting what he initially told police. He also admitted he provided Martineau's with invoices used in the fraudulent claim, the detective wrote in his report.Blanchette's investigation determined the phony invoices also included several from a Haverhill-based company, SDJ Services, for rental of a tractor to replace the one damaged in the accident. The detective noted in his report that the informant who worked for Martineau's "further stated that Martineau's had contacted the owner of SDJ Services, who was a friend, and asked him to print up some fraudulent invoices which would show that Martineau's rented a tractor within certain dates, so they could submit them to the insurance company."Gerald Dallaire of Methuen, owner of SDJ Services, denied that any of his company's invoices were fraudulent. He told Blanchette that Martineau had called him requesting that SDJ have a tractor on standby for Martineau's in case one was needed.Dallaire said he could not recall any of his rental trucks being dropped off at Martineau's or being picked up at his Haverhill office by Martineau's, according to the court document filed last week.Key testimony in the prosecution's case is a statement from a Martineau's driver who gave this account:Martineau's towed the damaged tractor back to its shop. The driver said he drove a tractor owned by Martineau's back to the accident scene, hooked up the trailer, and then proceeded with the delivery that Ronald Martineau was making just before the crash."He related that the trailer was never towed back to Martineau's facility right after the accident, as one of the fraudulent Bauchman Tow invoices states," Blanchette wrote in his report."(The driver) also stated he never towed the damaged tractor to Pepperell (Mass.) and to his knowledge, Martineau's Towing never leased or rented a tractor to replace the tractor involved in Ron's accident," the detective noted.Blanchette said he contacted Ronald and Raymond Martineau to be interviewed. But both declined.Ronald is listed as the secretary of Martineau's Towing & Recovery Corp. Raymond is listed as the treasurer of the company, based at 27 Haverhill St.

Ronald J. Martineau pleaded innocent in Lawrence District Court last week to charges of filing a false motor vehicle insurance claim and larceny

An employee of Martineau's Towing Service created bogus invoices for towing and rental costs totaling $11,000 after a company vehicle wa...

Medicines were stolen from 20 pharmaceutical warehouses and pharmacies during 2007. Some of the stolen drugs reached the public

Medicines were stolen from 20 pharmaceutical warehouses and pharmacies during 2007. Some of the stolen drugs reached the publicThe pharmaceu...

Raheel Mirza was jailed for two years at Liverpool Crown Court.

<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjNh77RLtlO2BIMGmiWrTlcZCxWw4Weu5vUeV38utsubikcXNs6AxpGFau4H1o0PtnqqzBOPr7gOEFyDXwtUKmKLwFtqAZ8w6bPCq4clbuszEeinLCHAIR0DfsGU-BYKpyZ34F-KXjcr2LL/s1600-h/TH1_144200833WIG001_002_12-04-08_142320.jpg"><img alt="" border="0" id="BLOGGER_PHOTO_ID_5189183473624288082" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjNh77RLtlO2BIMGmiWrTlcZCxWw4Weu5vUeV38utsubikcXNs6AxpGFau4H1o0PtnqqzBOPr7gOEFyDXwtUKmKLwFtqAZ8w6bPCq4clbuszEeinLCHAIR0DfsGU-BYKpyZ34F-KXjcr2LL/s320/TH1_144200833WIG001_002_12-04-08_142320.jpg" style="float:left; margin:0 10px 10px 0;cursor:pointer; cursor:hand;" /></a> Raheel Mirza was the last person to be sentenced as part of Operation Troy. He was jailed for two years at Liverpool Crown Court. Mirza, 23 and from London, pleaded guilty to conspiracy to defraud at an earlier hearing.Last month 12 people were sentenced to a total of more than 50 years in prison after Mirza was kidnapped from the Atherton area and held for 10 days before being released.The kidnap was in retaliation for a chip and pin card fraud scheme at two petrol stations in Greater Manchester. Around £333,000 was obtained from cards cloned at the garages in Wigan and Bolton between November 2006 and January 2007. The operation involved two crime groups, one from London and one from Bolton and Leicester, and resulted in Mirza being kidnapped. Officers are still looking for 26-year-old Sheraz Ali Ahmed in connection with the investigation.His last known address is Monega Road, London, but he is believed to be abroad.

Raheel Mirza was jailed for two years at Liverpool Crown Court.

Raheel Mirza was the last person to be sentenced as part of Operation Troy. He was jailed for two years at Liverpool Crown Court. Mirza, 23 ...

Christopher T. Carr took millions of dollars on behalf of F&S Fuel when he knew the company couldn't deliver on its prepaid contracts,

Connecticut is suing a former oil company president, charging him with defrauding purchasers of home heating-oil contracts, the state's ...

Fred Steinberg, M.D., his imaging centers and related entities in Palm Beach County, Fla., have reached a settlement with the United States

Fred Steinberg, M.D., his imaging centers and related entities have reached a settlement with the United States to resolve allegations of health care fraud, the Justice Department announced today. Under the terms of the settlement, the U.S. recovered $7 million. The settlement resolves allegations that portions of CT scans were not performed, even though the procedures were billed and reported to patients' physicians as if they were done. CT scans, which take detailed pictures of structures inside the body, are often taken using a dye (or contrast material) to highlight certain conditions. In addition to performing CT scans with contrast, scans may also be done without contrast. The bills submitted by Steinberg and his entities to federal healthcare programs, including Medicare, reflected that thousands of CT scans were carried out both with and without contrast, when in reality the CT scans without contrast were not performed. In addition, the government alleged that the Steinberg entities did CT scans and ultrasound exams that were not ordered by physicians and were not medically necessary. The settlement also resolves allegations that financial inducements were paid to physicians for patient referrals, which are prohibited under the Stark law and the Anti-Kickback statute. These inducements took the form of medical directorship, clinical research, employment, facility use and equipment lease agreements that exceeded fair market value or otherwise failed to comply with federal law. "This settlement confirms our vigorous pursuit of allegations of fraud and abuse in federal healthcare programs, against both companies and individuals," said Jeffrey S. Bucholtz, acting Assistant Attorney General for the Department of Justice's Civil Division. "All participants in these programs must abide by the government's requirements for the provision of care and proper billing, and this settlement reflects the importance the Department places on compliance with the law, including those laws governing prohibited financial relationships."

Fred Steinberg, M.D., his imaging centers and related entities in Palm Beach County, Fla., have reached a settlement with the United States

Fred Steinberg, M.D., his imaging centers and related entities have reached a settlement with the United States to resolve allegations of he...

Emeke Agboh was convicted of theft by a governmental contractor Genesis Drug & Alcohol Rehabilitation Center Shiloh Mental Health Services

Emeke Agboh, 39, of Sugar Land, was convicted of theft by a governmental contractor after an investigation by the Attorney General’s Medicaid Fraud Control Unit revealed that Medicaid reimbursed him for drug- and alcohol-related treatment sessions he never performed. The conviction applies to funds stolen through false billing schemes at his two clinics – Genesis Drug & Alcohol Rehabilitation Center ($90,000) and Shiloh Mental Health Services ($110,000). Agboh conducted the billing and reimbursement scheme from July to October 2004 at Genesis and from June 2005 to April 2006 at Shiloh. “This defendant received a five-year sentence for defrauding the taxpayers,” Attorney General Abbott said. “The Medicaid program was billed for services the defendant never rendered. The Office of the Attorney General will continue investigating waste, fraud and abuse in the Medicaid system.” Harris County Assistant District Attorney Kaylynn Williford prosecuted the case. In 2006 alone, Texas spent more than $17 billion to fund its portion of the Medicaid program. To save taxpayer dollars and protect Texas seniors, Attorney General Abbott dramatically expanded the Medicaid Fraud Control Unit. The unit has established field offices in Corpus Christi, Dallas, El Paso, Houston, Lubbock, McAllen, San Antonio and Tyler through authorization and funding from the 78th Legislature. It works with federal, state and local agencies across the state to identify and prosecute those who defraud the Medicaid program.

Emeke Agboh was convicted of theft by a governmental contractor Genesis Drug & Alcohol Rehabilitation Center Shiloh Mental Health Services

Emeke Agboh, 39, of Sugar Land, was convicted of theft by a governmental contractor after an investigation by the Attorney General’s Medicai...

Wally Andersen has not yet entered a plea on four criminal charges

<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiqo9-c4MjPj_jx9DFIPqnxx7_HoR3-jnvYqJwb-42fg5Ccd3NA5PvuV570QkaUZ5ctF0uDZ7zoJ8TwXGPCQFZd1qsetossL68PPjZngXhD5qQBIGETF_Sazu6zHe-hW-t9ST3w9RG3vbjY/s1600-h/nl-andersen-wally-20050503.jpg"><img alt="" border="0" id="BLOGGER_PHOTO_ID_5189179084167711554" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiqo9-c4MjPj_jx9DFIPqnxx7_HoR3-jnvYqJwb-42fg5Ccd3NA5PvuV570QkaUZ5ctF0uDZ7zoJ8TwXGPCQFZd1qsetossL68PPjZngXhD5qQBIGETF_Sazu6zHe-hW-t9ST3w9RG3vbjY/s320/nl-andersen-wally-20050503.jpg" style="float:left; margin:0 10px 10px 0;cursor:pointer; cursor:hand;" /></a> Wally Andersen, who resigned his seat representing Torngat Mountains last September, has not yet entered a plea on four criminal charges, including fraud and fraud on the government.Wally Andersen represented Torngat Mountains in Newfoundland and Labrador's legislature for 11 years. (CBC) Andersen, 56, is not required to enter a plea until a preliminary inquiry is held.In provincial court in St. John's Monday, a date was set for that inquiry. Starting Feb. 25, 2009, arguments will be made as to whether there is enough evidence to send the matter to trial. The inquiry is expected to last four weeks. The Royal Newfoundland Constabulary laid charges against Andersen, three other politicians and a civil servant after Auditor General John Noseworthy released reports in 2006 that showed millions of dollars in questionable spending. Andersen, a minister of Labrador and aboriginal affairs in the Roger Grimes government, had represented Torngat Mountains, a vast district covering much of northern Labrador, for 11 years.Last week, Jim Walsh, a former Liberal tourism minister, also elected trial by judge and jury. A preliminary inquiry in his case is expected to begin in November.The cases of former politicians Ed Byrne and Randy Collins, as well as Bill Murray, the suspended finance director of the legislature, are also moving through the early stages of the court process.

Wally Andersen has not yet entered a plea on four criminal charges

Wally Andersen, who resigned his seat representing Torngat Mountains last September, has not yet entered a plea on four criminal charges, in...

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