TMZ reported over the weekend that Fat Joe is suing his longtime accountant Andre N. […]
Tag: Ponzi Schemes
White-Collar Crime Watch: An Online Dating Scam, A Fake CPA, and A Tax-Evading Stripper
My grandma got wrapped up in an illegal money-making scheme once. She started taping movies […]
Madoff Auditor Better at Cooperating Than Auditing, Won’t Serve Time
Auditors facing over 100 years in prison should take note: Madoff auditor David Friehling to […]
PwC Is Raking It In on Old Fraud
As the multibillion-dollar scheme led by Tom Petters approaches its sixth anniversary, the meter is […]
Bernie Madoff’s Former Accountant Pleads Guilty But Clueless
Paul Konigsberg is going with the guilty but ignorant and terrible at accounting defense: A […]
The SEC Wants You to Know What Ponzi Scheme YouTube Videos Look Like
It's kind of like an infomercial but with fewer incompetent idiots trying to accomplish basic […]
Ex-Madoff Accountant Got an Early Start on ‘Clearing His Good Name’
When you're known as "the guy Bernie told us could help with our tax returns," […]
Lawyer Suing Moss Adams Seems to Have Hurt Feelings After Opposing Counsel Called His Lawsuit “Flimsy”
Anyone remember Frederick Darren Berg? He's a guy who had a thing – nay, a […]
Auditor Denies That an Auditor Was Paid Too Much Money to Audit
Yes, even if it was Allen Stanford's auditor: CAS Hewlett, an accountant in the Caribbean nation […]
Is There a “Ponzi Scheme” Button in Turbo Tax For Convenience Purposes?
File this under "serious tax questions" posed to the Intuit community: Back in 2007 I […]
David Cay Johnston Impressed with Obama’s Wily Plan, Will Stand Up to Those Bullying Social Security
DCJ is putting the rubes (read: Republicans) on notice that A) Obama is one crafty SOB and B) if Rick Perry wants to throw around “Ponzi scheme” then two can play at that game.
Obama has also set a clever trap for anti-tax Republicans. Obama’s American Jobs Act would lower Social Security taxes for all workers and for all businesses in 2012. Republicans who vote against the bill would be voting against a tax cut. They would also be voting against a huge business tax break, letting business immediately write off all capital investments made in 2012. […] The latest assault on Social Security comes from Governor Rick Perry of Texas, a Republican presidential hopeful who insists that social insurance for widows, orphans, the disabled and the old is a Ponzi scheme. If Social Security is a Ponzi scheme then so are public education, businesses and the state government that has for decades employed Rick Perry.
Father Christmas seems a little surprised that the GOP would find a tax cut they didn’t like but as we know, many don’t find the Social Security tax cut to be their cup of tea because of its lack of eternal life.
More for the rich [DCJ/Reuters via TaxProf]
Investors in Allen Stanford’s (Alleged) Ponzi Scheme Sue BDO
Nearly two years after Texas financier Allen Stanford was indicted in an alleged massive Ponzi scheme, investors have just filed a $10 billion proposed class action suit against his auditor—the giant accounting firm BDO.
The suit—filed Thursday in federal court in Dallas—says BDO did not only aid and abet the $7 billion dollar fraud…it was a “co-conspirator.” “BDO’s cozy relationship with the Stanford Financial Group was steeped in conflicts of interest and required ongoing deceptive and duplicitous manipulation of the facts to allow the Ponzi scheme’s exponential growth for over a decade,” the complaint says. “The result of this deception is the loss of thousands of investors’ life savings.” [CNBC]