Oct 13, 2010 | Accounting Frauds
After auditing the books of Reliance Communications ( for those not aware of Reliance, it is the GE of India; a big company diversified into a lot of industries) a Indian government appointed accounting firm , Parakh & Co got a shocking response. The company has...Oct 8, 2010 | Accounting Frauds
The complaint against John Blahnik, the former treasurer and vice president of treasury, mergers and acquisitions at Delphi Corp. was that he had participated in 3 fraudulent schemes, filing materially false and misleading financial statements on the company’s Forms...Oct 8, 2010 | Accounting Frauds
Metropolitan Life Insurance Co. (MetLife) has been ordered to pay a whistle-blowing former broker, Ronald Roganti about $2.5 million in damages. The ruling states that after the broker had raised concerns about shoddy business pracitices he was mistreated. ...Oct 7, 2010 | Accounting Frauds
The recent financial meltdown driven primarily by the financial institutions has made the finance community and the standard setting authorities jittery. Lots of small banks and financial institutions were wiped out, but the one that raised a lot of eyebrows was the...Sep 2, 2010 | Accounting Frauds
Finally an SEC investigation that did not lead to any enforcement action. After completing their investigation the SEC did not recommend any enforcement action for KB Homes. The SEC had launched a probe last year into possible accounting and disclosure violations by...Aug 31, 2010 | Accounting Frauds
What would you do with $30 million? Well Sujata Sachdeva, the VP of Finance and Principal Accounting Officer at Koss Corporation bought designer clothes, furs, purses, shoes, jewelry, household furnishings, cars, did home improvement and renovations. The only...