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As to Whether Allen Stanford Knew His CDs Were Worthless

Posted on August 27, 2010 by Caleb Newquist

“I think it’s obviously obvious.”

~ Forensic accountant Mark Berenblut, responding in the affirmative that R. Allen Stanford knew he was “misrepresent[ing] the liquidity and soundness of the CDs.”

Posted in Fraud, Quote of the DayTagged Fraud, Ponzi scheme, R. Allen Stanford

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KPMG Analysis Finds That a Fraudster’s Traits Mirror Those of Pretty Much Every Boss You’ve Ever Worked For

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Of course not all of your bosses are crooks…or are…nah. But just to be on the safe side, make sure you’re giving the stinkeye to anybody with the following characteristics:

• Volatility and being melodramatic, arrogant and confrontational, threatening or aggressive, when challenged.

• Performance or skills of new employees in their unit do not reflect past experiences detailed on resumes.

• Unreliability and prone to mistakes and poor performance, with a tendency to cut corners and/or bend the rules, but makes attempts to shift blame and responsibility for errors.

• Unhappy, apparently stressed and under pressure, while bullying and intimidating colleagues.

• Being surrounded by “favorites,” or people who do not challenge the fraudster, and micromanaging some employees, while keeping others at arm’s length.

• Vendors/suppliers will only deal with this individual, who also may accept generous gestures that are excessive or contrary to corporate rules.

• Persistent rumors or indications of personal bad habits, addictions or vices, possibly with a lifestyle that seems excessive for their income, or apparently personally over-extended in their finances.

• Self-interested and concerned with their own agenda, and who has opportunities to manipulate personal pay and rewards

But as we all know, the ex-stripper wife is the clincher.

[via KPMG]

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