Dark Leviathan: The Silk Road might have started as a libertarian experiment, but it was doomed to end as a fiefdom run by pirate kings
Ryan Mullen was on the run for over 14 years. Then, a professional skip tracer named Michelle Gomez got on the case.
In the realm of higher ed, law schools are at the forefront of finding creative ways to maximize revenue. Georgetown Law has pioneered an academic Ponzi scheme where they are able to essentially use the Federal loan money given to new students to pay for public interest law graduates' loans.
Fraud in the organic farming sector has become a thriving international industry made up of a complex network of companies that bears all the marks of traditional organised crime. Excerpts.
"It is unlikely, I think, that this will generate a lot of media publicity," [Judge] Baer sighed to the jury in his preliminary instructions.
The Scam Wall Street Learned from the Mafia is Matt Taibbi's take on the recent convictions in the municipal bond bid-rigging case of United States v. Dominick P. Carollo, Steven E. Goldberg, and Peter S. Grimm. These three fraudsters are among the fifteen convicted so far with regard to the federal government's investigation into nationwide municipal bond bid-rigging schemes. [more inside]
The Incentive Bubble (ungated pdf) - "The fraying of the compact of American capitalism by rising income inequality and repeated governance crises is disturbing. But misallocations of financial, real, and human capital arising from the financial-incentive bubble are much more worrisome to those concerned with the competitiveness of the American economy." [more inside]
Start a home business, get rich quick, win financial freedom! If you watch late-night TV, you've heard it all before. But what's the story behind these slick pitchmen and their dubious schemes? Enter The Salty Droid, your ornery metal guide to the corrupt underworld of scam-marketing scum. This charmingly acerbic bot (owned and operated by mild-mannered Chicago dog-lover Jason Michael Jones [inter-view, long talk + transcript]) is a valiant crusader against the vile con-men who bankrupt the elderly and the desperate with beautiful lies. Exposed so far: A shadowy "Syndicate" of frauduct-pushing personality cults polluting the media with blogspam and woo-woo talking points. Boiler rooms in the Utah desert where telemarketers farm credit from easy targets with cunning, probing scripts [PDF]. Powerful politicians bought wholesale. Believers left to die in fraudulent new-age vision quests. It's a soul-crushing beat, enough to make one feel like a regular catcher-bot in the digital rye. But somebody's got to do it -- preferably someone with plasma nunchucks and titanium skin.
On July 23, 1920, Charles Ponzi hired former Boston Post journalist William H. McMasters as his publicist, who quickly realized that his new client was defrauding the public. Just ten days later, McMasters wrote an exposé published in the Post that led to Ponzi's ultimate downfall. The newspaper won a Pulitzer. McMasters was The Man Who Time (Almost) Forgot (Via) [more inside]
Dimorio McDowell had a lot of time on his hands in prison. So, he decided to start up his own retail fraud and ID theft ring, defrauding his victims of almost $1 million before investigators caught up to him.
Ken Lay & Enron. Bernie Madoff. Bernie Ebbers & WorldCom. What is it about CEOs that makes them uniquely capable of pulling off the most audacious & expensive kind of white collar crime? Control Fraud Theory has the answer. Via the ever-enlightening Bruce Schneier.
The commercials are all over television — and they certainly are attention-grabbing. They’re the ones where the heavy, bald guy is sitting in his easy chair talking in a squeaky female voice about all the clothes he bought — including a bustier. Or the little old lady speaking with the gruff voice of a younger man about the sweet motorcycle she now owned. Identity theft is a serious crime — one that is occurring with an alarming frequency. The Identity Theft Manifesto explains how criminals get your personal info, and what you can do about it.
The US Attorney's office has submitted email correspondence between Bernie Madoff and his victims, some of whom are more deserving than others. Via
In Violation of Federal Law, Ohio's 2004 Presidential Election Records Are Destroyed or Missing. "The extent of the destruction of records is consistent with the covering up of the fraud that we believe occurred in the presidential election."
... Karl Rove, a handful of the party's most tech-savvy computer gurus and the former Republican Ohio Secretary of State, created, owned and operated the vote-counting system...
Network Hosting Attorney Scandal E-Mails Also Hosted Ohio's 2004 Election Results --...more than ample documentation to show that on Election Night 2004, Ohio's "official" Secretary of State website -- which gave the world the presidential election results -- was redirected from an Ohio government server to a group of servers that contain scores of Republican web sites, including the secret White House e-mail accounts that have emerged in the scandal surrounding Attorney General Alberto Gonzales's firing of eight federal prosecutors. ...
Open Secrets - the trouble with Enron
United States v. George W. Bush et al. Retired federal prosecutor Elizabeth de la Vega has written a hypothetical indictment for a hypothetical grand jury charging President George W. Bush, Vice President Richard Cheney, Secretary of Defense Donald Rumsfeld, Secretary of State Condoleezza Rice, and former Secretary of State Colin Powell of violating Title 18, United States Code, Section 371, thereby commiting a conspiracy to defraud the United States by tricking the nation into war. Though a work of fiction, the evidence presented is real. Part 1 is the introdutction, part 2 is the indictment, and part 3 is the beginning of grand jury testimony, with more to come over the next few days.
Becoming what you hate : Nathan Sproul, case study in moral relativism on the Religious Right "former head of the Arizona Republican Party and of the Arizona Christian Coalition....Sproul is connected with the Republican National Committee-funded voter registration organization, Voters' Outreach of America Inc." - Sproul's firm is accused of fraud and the destruction of voter registration forms. He also failed to pay his workers and his office rent. Rick Perlstein, in the Village Voice, comments on the Sproul scandal : "Both sides are not equally bad, and any reporters who don't recognize that conservatism's very core has become shot through with a culture of mendacity should turn in their press badge..... It used to be that we could count on the conscience of conservatives to protect our democratic institutions."
You've got Jail is a light hearted, easy summer reading and informative article which explodes the myth that malfeasing CEOs get sent to "Club Fed", a prison so minimum in insecurity that its really like an enforced vacation in the country rather than the more typical round of incarceration. Required reading for the Skillings, Rigas, Taubmens and every college student considering an MBA. (So is the MeFi fascination with Prison life an idle one or am I keeping the wrong company?)
An Australian Man who sent millions of e-mails around the world falsely stating shares in an American company would rise 900 per cent was today sentenced to two years in jail. The charges filed are believed among the first of their type made against anyone in the world. Mr Hourmouzis had pleaded guilty to two charges of making a false statement on the Internet.