“In my opinion, the problem today is 10 times worse than it was when Enron had its implosion in what was called the era of corporate fraud,” said Fastow. “The things that Enron did, and that I did, are being done today. In many cases, they’re being done in such a manner that makes me blush, and I was the CFO of Enron.” [AT]
Related Posts
Bad Spelling Can Derail an Otherwise Promising Career in Fraud
For God's sake, get a good education.
In his 2013 State of the Union address, President Obama said, "To grow our middle class, our citizens must have access to the education and training that today’s jobs require." However, the President failed to mention the education and training that today's crimes require.
Area Man Sentenced to Serve Pizzas in Lieu of Jail for Sales Tax Fraud
Buffalo. City Mission. Tuesdays. For a year. Unless you’re really hard up for some nourishment, we would avoid with extreme prejudice. This will make the Denny’s freebies look like a mess hall at Fort Bragg.
Joseph J. Jacobbi, 57, operator of Casa-Di-Pizza, a popular Elmwood Avenue restaurant, was spared a jail term on his massive sales tax fraud case, but the judge Monday ordered him to deliver 12 sheet pizzas to the City Mission once a week on Tuesdays for the next 52 weeks, beginning [yesterday].
After Jacobbi turned over a check for $25,000 — part of the $104,295.31 court officials said he withheld from the state between March 2004 and the end of May 2008 — the judge ordered the weekly pizza deliveries as a form of community service.
“I will leave the choice of toppings up to you,” he told the nonplussed restaurant owner.
Not that we don’t appreciate the judge’s creative sentence but shouldn’t the people at the mission get to choose the toppings?
Oh, wait…
Tax cheat sentenced to serve … pizzas [Buffalo News via TaxProf]
Because the Other Option was to Start Hocking the Stanford Financial Shwag Received for Opening a New Account
Your latest bit of hilarity regarding the Stanford Ponzi Party is that a group of plaintiffs is suing the government of Antigua and Barbuda for $24 billion because the island was allegedly a “full financial partner in the fraud”.
Alphaville isn’t buying it, and they not so accidently, put “Fraud Victims” in quotations which we find hilarious because it almost appears that Alphaville isn’t even buying the “victims” angle as so much as they’re buying the “morons” angle.
The post goes on to inform us that “$24bn is also 24 times Antigua’s 2008 GDP“. Which moves this particular case from the “frivolous” category to the “downright idiotic” category.
Nevertheless, one might conclude that any or all of the following is what got this thing off the ground:
1. Big Al is pulling the strings from jail in order to pay for his defense because, as we learned, he’s got no legit cash.
2. Ambulance Ponzi victim chasing attorney
3. Banana farmers in Antigua that really don’t have any alternative after getting shaken down by the EU.
So duped people are pissed and they want their money back. They have finally come to the conclusion that the original $8bil has been long ago spent on Scarface-size piles of blow and endless hours spent in houses of ill repute so they’re clutching at straws.
Our advice: Just sue the SEC already.
“Fraud victims” want $24bn from the government of Antigua and Barbuda [FT Alphaville]