Aug 12, 2012 | Accounting Frauds
In February 2012, Saitama District Court in Japan, sentenced both the president and executive director of FOI Corp, the machinery maker to three years in prison. The sentencing was due to the involvement of the officers in falsifying the financial statements of the...Jul 18, 2012 | Accounting Frauds
The futures brokerage firm Peregrine Financial Group has filed for Chapter 7 protection, after its founder attempted suicide and amid allegations of fraud. It is alleged that more than $200 million had gone missing at the commodities brokerage. In his suicide note,...Mar 28, 2011 | Accounting Frauds
Weatherford International Ltd, a Geneva based oilfield services and equipment company, announced that it will be restating its results back to 2007 and delay the 2010 annual report. The delay the company said is due to tax accounting errors stemming from failure of...Feb 17, 2011 | Accounting Frauds
I recently read an article about the exchange of emails between executives at Lehman Brothers regarding the Repo 105 practice the company was engaged in. Below are some of the comments of the executives- Martin Kelly, Lehman’s global financial controller, stated that...Feb 3, 2011 | Accounting Frauds
In a recent verdict of a nine year legal battle between BDO Seidman and the estate of George Batchelor and the Batchelor Foundation, the jury ordered BDO to pay $91.7 million in damages for fraud and negligence over the firm’s auditing of Grand Court Lifestyles...