•Six charged in shares fraud case – “Six employees of the Wall Street firm Sky Capital Holdings have been charged with carrying out a $140m (£87m) investment fraud in the US and Britain.” [BBC]
•AIG in talks with MetLife over Alico – In case you didn’t hear, AIG owes some money [FT.com]
•Hedge Fund Buys Buffett Lunch A Year After Losing 66% – Guess they really need some pointers from the Oracle. [Clusterstock]
Related Posts
Review Comments | 09.03.09
• Madoff ‘Astonished’ SEC Failed to Act After Interview – And the guy must tell a helluva yarn. [Bloomberg]
• Yahoo accounting chief searching for a new job – This could be you. [Accountancy Age]
• Retailers Show Best Results in a Year – “Still, a quick recovery isn’t expected; half of retailers missed projections.” Dead? Alive? WTFK? [WSJ]
• Triumph of Consumerism – Naming children after your favorite brands. Who needs a drink? [Floyd Norris/NYT]
Review Comments | 08.11.09
• Bankruptcy Filing Near for Taylor Bean – “The motion, submitted in the U.S. District Court for the Northern District of West Virginia, was filed on Aug. 6, one day after the privately owned Ocala, Fla., company ceased its lending operation and dismissed most of its work force.” No surprise, but that sucks guys. Try to keep truckin. [WSJ]
• Benmosche Said to Start AIG Tenure With Croatian Trip “plans to spend part of his first month leading the insurer in Croatia on vacation, according to two people familiar with the situation.” The guy’s got stones, that’s for sure. [Bloomberg]
• IRS Impostors Burglarize House “The IRS impersonators made off with a weed trimmer, chain saw, jewelry and a utility trailer.” [Web CPA via TaxProf Blog]
• The Sweet Sixteen: A List of Audits I Need in my Life [Accounting Nation]
Review Comments | 12.02.09
• Internal auditor faces charges in Satyam scandal – India’s Central Bureau of Investigation (CBI) also claims that have more evidence against PwC. [Accountancy Age]
• Does Sarbox Reduce Restatements? – One study suggests just that, “The study, from research firm Audit Analytics, suggests that companies that have not yet had their auditors review their internal-control reports are more likely to have a restatement than larger companies, even though they claimed to have effective controls.” [CFO]
• Stanford Offshore Investors Suspected of Cheating IRS – We realize this is hard to believe. [Bloomberg]
• Bank of America to Repay $45 Billion in TARP – Drinks are on Ken Lewis. [WSJ]
• SEC Obtains Asset Freeze Against Co-Founder of Canopy Financial in $75 Million Offering Fraud – Not to mention the stolen letterhead: “According to the SEC’s complaint, the fraud came to light when KPMG discovered that Canopy had been claiming that its financial statements for 2007 and 2008 were audited by KPMG. In fact, KPMG had never been retained by Canopy to audit its financial statements and had never opined on the financial condition of the company. KPMG issued a cease-and-desist letter to Canopy demanding that it stop the unauthorized use of KPMG’s name and the audit report purportedly issued by KPMG.” [SEC Press Release]