Medicare Fraud is Rampant ---
 http://townhall.com/columnists/stevesherman/2016/02/05/medicare-fraud-is-rampant-n2115375?utm_source=thdaily&utm_medium=email&utm_campaign=nl&newsletterad=

Feds break up $1 billion (with a "b") Medicare scam in Miami — biggest in U.S. history ---
http://www.miamiherald.com/news/local/community/miami-dade/article91231277.html#storylink=cpy

Top 10 Scams of 2016 ---
https://www.scamguard.com/list-of-scams/?gclid=CIni6KfGhM8CFVVahgodlRoFCA
Jensen Comment
I get hit with the computer repair scam phone call several times a week that is not a recording. Sometimes the scammers even pretend to be from Dell or Microsoft. The best way to get them to swear out loud at you (with an India accent) after you've humored them along for 15 minutes with questions is to insist that they give you a phone number so you can call them back. You will hear four letter words I did not think people used in India.

One of the top USA top scams are also those IRS threatening phone calls (usually recorded messages) warning you that the law will soon knock at your door if you don't make an IRS settlement now ---
http://www.local10.com/news/florida/beware-of-aggressive-irs-impersonators-telephone-scam-
I get one of these phony calls at least weekly. The IRS will not contact you by telephone or email to warn you of a an issue with your return. The warning will come by US mail. You may be invited to respond by telephone, but usually the IRS likes to communicate by postal service mail or office visits.

We got hit as grandparents by a phony call from a supposed grandchild allegedly arrested outside the USA. As luck would have it we did not fall for it, although this is a very convincing scam for grandparents who do not talk with a grandchild frequently on the telephone and are not quite fine tuned in to voice recognition like we are with our children ---
"Grandparent scam" explained: What you need to know ---
http://www.cbsnews.com/news/grandparent-scam-explained-by-former-scammer-what-you-need-to-know/
These days it's often more common for grandparents and some of their grandchildren to communicate via email rather than telephone. If you get an emergency request from a grandchild don't fall for it immediately unless you are 100% certain that the call is genuine. You can ask a grandchild a question that a scammer cannot answer such as what did we do together during our most recent visit. If you send money send it via something like a postal money order or certified check rather than give out a credit card number or checking account number.

Bob Jensen's threads on scams and what to do if you're scammed ---
http://faculty.trinity.edu/rjensen/FraudReporting.htm

U.S. Army fudged its accounts by trillions of dollars, auditor finds
http://www.reuters.com/article/us-usa-audit-army-idUSKCN10U1IG
Jensen Comment
So, what's new?

Bob Jensen's Fraud Updates ---
http://faculty.trinity.edu/rjensen/FraudUpdates.htm

A massive pay-to-play scheme involving alleged bid rigging of state contracts involving hundreds of millions of dollars in taxpayer money was outlined by federal prosecutors Thursday in a case that targets longtime advisers and major donors of Gov. Andrew M. Cuomo ---
http://politicsnow.buffalonews.com/2016/09/22/nine-charged-bombshell-state-corruption-case/
September 23, 2016

Not Long Ago Another Scandal
Top-level orruption in NY State. Former NY Senate Speaker Sheldon Silver sentenced to 12 yeas in prison. Another dozen state lawmakers have plead guilty ---
http://www.nytimes.com/2015/12/01/nyregion/sheldon-silver-guilty-corruption-trial.html?_r=0

Bob Jensen's Fraud Updates ---
http://faculty.trinity.edu/rjensen/FraudUpdates.htm

From the CFO Journal's Morning Ledger on September 29, 2016

UBS to pay $15 million over sales practices
UBS Group AG has agreed to pay more than $15 million to settle SEC charges that its failure to properly train brokers led to customers buying hundreds of millions of dollars of unsuitable securities. According to Reuters, the SEC said on Wednesday that UBS from 2011 to 2014 sold about $548 million of derivatives tied to individual stocks to relatively inexperienced retail customers.

Jensen Comment
If you believe that improper training of brokers in selling derivatives was the cause of these frauds then Tom Selling will negotiate a price with you for his ocean front home in Phoenix. The problem is that UBS brokers were overly trained in screwing derivatives customers. Sometimes I've got to agree with Senator Elizabeth Warren.

Bob Jensen's threads on the history of derivatives marketing frauds ---
http://faculty.trinity.edu/rjensen/FraudRotten.htm#DerivativesFrauds

From the CFO Journal's Morning Ledger on September 29, 2016

Why the $600 EpiPen costs $69 in Britain
The EpiPen allergy shot costs less than its leather case in Britain, Bloomberg reports. The price of an EpiPen two-pack has surged to more than $600 in the U.S., sparking a political outcry. While the manufacturer, Mylan NV, says it takes home about $274, in the U.K. a similar pair of injectors costs the state-funded National Health Service $69. The numbers highlight the stark differences in the way drugs are priced in the U.S. and Britain, where the government negotiates with pharmaceutical companies to limit costs.

Jensen Comment
Such pricing would never work worldwide because somebody has to pay for Mylan's corporate jets and conferences in Ritz hotels around the world. "Cost Plus" pricing all depends upon what outlays are included in what you call "cost." Accountants are notoriously creative when it comes to "measuring" cost.

From The Wall Street Journal on September 27, 2016
"Mylan Clarifies EpiPen's Profit"

. . .

Testifying before a congressional committee last week, CEO Heather Bresch said Mylan's profit was $100 for a two-pack of injectors, despite a $608 price in the USA (versus $69 in the U.K.)

Continued in article

Jensen Comment
As usual USA prices include all the allocations of corporate jets, conferences in luxury hotels, factory depreciation, equipment depreciation, R&D, etc. Screwing USA customers and third parties (think Blue Cross, Medicare, and Medicaid) is the name of the game in the USA

Miami Accounting Vice (the title is a takeoff on the popular TV show Miami Vice)---
http://www.wsj.com/articles/miami-accounting-vice-1474329195?mod=djemMER

 Sen. Elizabeth Warren is still angry that more financiers weren’t thrown in prison after the 2008 financial crisis. Last Thursday—the eighth anniversary of the collapse of Lehman Brothers—the Massachusetts Democrat wrote to FBI Director James Comey and Justice Department Inspector General Michael Horowitz to demand an accounting. But instead of urging Justice to revisit its cold-case files on banksters, perhaps she should focus on the disturbing news on financial fraud in municipal government.

Last Wednesday a federal jury found that the city of Miami defrauded bond investors by misleading them about the city’s declining financial condition. Specifically, Miami moved funds earmarked for specific purposes into its General Fund to hide fiscal deficits and pretend the city was maintaining robust reserves. The scheme allowed the city to gain favorable grades from credit-ratings firms, which later downgraded Miami after an auditor forced the city to reverse the illegal fund transfers.

Wednesday’s loss in a civil case brought by the Securities and Exchange Commission wasn’t the first time Miami has been caught cooking the books. In 2003 the SEC instituted a cease-and-desist order against the sunny paradise for violating anti-fraud provisions of federal law in a 1995 bond issuance. And it’s more than a Miami problem. The Journal reports that last month the SEC settled civil cases with no fewer than 71 municipal issuers. Yet we haven’t heard a peep from the progressive left about jailing government officials who mislead investors.

As for Ms. Warren, we have to give her credit for including abuses by government-backed Fannie Mae and Freddie Mac in her list of crisis-era outrages she sent to the Justice IG on Thursday. And if she’s looking for potential areas of investigation, we suggest she spend even more time examining government disclosures.

Continued in article

 Bob Jensen's Fraud Updates ---
http://faculty.trinity.edu/rjensen/FraudUpdates.htm

Textbooks:  One of the biggest ways college students are ripped off is getting out of control ---
http://www.businessinsider.com/college-text-book-prices-are-getting-out-of-control-2016-9

 Bob Jensen's Fraud Updates --- http://faculty.trinity.edu/rjensen/FraudUpdates.htm

US patent office employees scammed taxpayers for $18 million ---
http://www.businessinsider.com/us-patent-office-employees-scammed-taxpayers-for-18-million-2016-9
Jensen Comment
But since they work for the government they cannot be terminated.

Wells Fargo Fined $185 Million for Creating Fake Accounts ---
http://time.com/money/4484208/wells-fargo-fined-cfpb-185-million/?xid=newsletter-brief

Bob Jensen's Fraud Updates ---
http://faculty.trinity.edu/rjensen/FraudUpdates.htm

Consumers Are Getting Plucked:  Why America Pays 50% More for Chicken  ---
http://www.bloomberg.com/news/articles/2016-09-28/is-there-a-vast-conspiracy-to-overcharge-you-for-chicken?cmpid=BBD092816_BIZ

How to stop expense reimbursement fraud ---
http://www.cgma.org/Magazine/News/Pages/how-to-stop-expense-reimbursement-fraud-201614675.aspx?utm_source=mnl:cpald&utm_medium=email&utm_campaign=30Aug2016

Pension Spiking --- https://en.wikipedia.org/wiki/Pension_spiking

An August 17 California appeals court ruling rejected a public employee union's claim that its members had a right to "pension spiking," which the court described as "various stratagems and ploys to inflate their income and retirement benefits." Public employees often will pad their final salary total with vacation leave, bonuses and "special pay" categories to inflate the pension benefits they receive for the rest of their lives.
https://reason.com/archives/2016/09/02/is-ruling-too-late-to-fix-californias-pe
But it's probably too late to do much good.

Bob Jensen's Fraud Updates ---
http://faculty.trinity.edu/rjensen/FraudUpdates.htm

From Scott Bonacker on March 31, 2016

Every once in a while, a dog catches a car. Then what to do (other than call the lawyer in) – these articles discuss tax reporting after catching an embezzler:
http://web.nacva.com/JFIA/Issues/JFIA-2013-1_4.pdf 

http://www.plantemoran.com/services/business-advisory-services/forensic-accounting/documents/fvs-navigating-aftermath-of-embezzlement.pdf 

How to stop expense reimbursement fraud ---
http://www.cgma.org/Magazine/News/Pages/how-to-stop-expense-reimbursement-fraud-201614675.aspx?utm_source=mnl:cpald&utm_medium=email&utm_campaign=30Aug2016

Bob Jensen's Fraud Updates ---
http://faculty.trinity.edu/rjensen/FraudUpdates.htm

"Bogus Audited Statements Are Holding Africa Back," by Ndubuisi Ekekwe, Harvard Business Review, August 22, 2016 ---
https://hbr.org/2016/08/bogus-audited-statements-are-holding-africa-back?referral=00563&cm_mmc=email-_-newsletter-_-daily_alert-_-alert_date&utm_source=newsletter_daily_alert&utm_medium=email&utm_campaign=alert_date

Bob Jensen's Fraud Updates ---
http://faculty.trinity.edu/rjensen/FraudUpdates.htm

IRS Employee Gets Nine Years for Identity Theft ---
http://www.forbes.com/sites/robertwood/2016/08/15/irs-employee-gets-9-years-in-prison-for-stealing-taxpayer-identities/#106b726820e7

Bob Jensen's Fraud Updates ---
http://faculty.trinity.edu/rjensen/FraudUpdates.htm

From the CFO Journal's Morning Ledger on August 23, 2016

BofA gets nod against DOJ appeal
An appellate court on Monday declined to reconsider its decision to throw out a mortgage-fraud case against Bank of America Corp., a blow to the Justice Department as it tried to rescue one of its highest-profile cases tied to the financial crisis. Judges for the Second U.S. Circuit Court of Appeals in New York said in a filing that they had considered the Justice Department’s request and would deny it. The judges didn’t elaborate on their decision.

From the CFO Journal's Morning Ledger on August 23, 201

Wells Fargo settles with CFPB.
Wells Fargo Bank agreed to pay $4 million to resolve allegations by the Consumer Financial Protection Bureau that it used illegal payment-processing practices resulting in higher costs for some borrowers. The settlement includes a $410,000 refund to affected consumers and a $3.6 million civil penalty to the CFPB, which has recently stepped up its scrutiny of student-loan servicing companies. The unit of Wells Fargo & Co. said it disagreed with the CFPB’s assertions.b

Questionable Accounting and Conflict of Interest Deal Making
Shut down the Clinton Foundation ---
http://www.businessinsider.com/shut-down-the-clinton-foundation-2016-8
Jensen Comment
What's remarkable is that the author of this article writes for one of the most liberal outfits in the world --- Slate

Walmart’s Out-of-Control Crime Problem Is Driving Police Crazy ---
https://www.bloomberg.com/features/2016-walmart-crime/?cmpid=BBD081716_BIZ
Jensen Question
In this era on not wanting to incarcerate non-violent people, how do you stop the hard core of shop lifters who repeatedly defy the law?
There are gangs of shoplifters, many of them teenagers, that now attack fast and furiously.

PwC:  Largest lawsuit against an auditor goes to court for $5.5 billion ---
http://www.miamiherald.com/news/business/banking/article92700782.html#storylink=cpy
Thanks to Dennis Huber for the heads up

Bob Jensen's threads on Big Four lawsuits ---
http://faculty.trinity.edu/rjensen/fraud001.htm

Teaching Case
From The Wall Street Journal Weekly Accounting Review on August 19 2016

Military Contractor Orbital ATK to Restate Financials
by: Doug Cameron and Austen Hufford
Aug 11, 2016
Click here to view the full article on WSJ.com

TOPICS: Accounting Errors, Materiality, Revenue Recognition

SUMMARY: Orbital ATK Inc. said that accounting errors obscured losses of up to $450 million on a Pentagon arms contract, forcing the aerospace and defense company to restate its financials. The company said it didn't believe there was any fraud involved. Orbital ATK said the misstatements overestimated revenue by $100 million to $150 million in total and that a forward loss provision, related to the unprofitable contract, would reduce previously reported pretax operating income by about $400 million to $450 million.

CLASSROOM APPLICATION: This article would be appropriate for financial accounting classes.

QUESTIONS: 
1. (Introductory) What did Orbital ATK Inc. announce regarding its financial statements? Why did the problems occur?

2. (Advanced) What are the details of the accounting errors? How did the correction of the errors affect the company's financial statements?

3. (Advanced) What is immateriality? Were the errors material for the company's financial position?

4. (Advanced) How did the report of errors affected the company's stock price? Why?

Reviewed By: Linda Christiansen, Indiana University Southeast

 

"Military Contractor Orbital ATK to Restate Financials," by Doug Cameron and Austen Hufford,The Wall Street Journal, August 11, 2016 ---
http://www.wsj.com/articles/aerospace-contractor-orbital-atk-to-restate-financials-1470829385?mod=djem_jiewr_AC_domainid

Company says accounting errors obscured losses of up to $450 million on a Pentagon arms contract.

Orbital ATK Inc. said Wednesday that accounting errors obscured losses of up to $450 million on a Pentagon arms contract, forcing the aerospace and defense company to restate its financials.

The company said it had failed to meet cost-cutting targets at an ammunition plant it manages for the Army in Missouri that left it nursing a loss rather than breaking even on the fixed-price contract won in 2012.

Orbital ATK shares fell by almost a fifth in early trade following the announcement as the company said it would delay its quarterly filings with regulators for around 45 days.

The company said it didn’t believe there was any fraud involved. “We don’t think there was any misbehavior,” said Orbital ATK Chief Executive David Thompson on a call with analysts after the company reported forecast-beating quarterly earnings.

The problems were uncovered as the company installed new enterprise systems and relate primarily to a $2.3 billion contract with the U.S. Army to manufacture and supply ammunition at the Lake City Army Ammunition Plant in Independence, Mo., for an initial period of seven years and up to 10 years total.

Mr. Thompson said the problems had been “obscured” by a combination of unusual factors and called the incident “very distressing.” A review of other large and midsize contracts hadn’t revealed any material problems.

Orbital ATK said the misstatements overestimated revenue by $100 million to $150 million in total and that a forward loss provision, related to the unprofitable contract, would reduce previously reported pretax operating income by about $400 million to $450 million.

The contract accounts for around 5% of group sales and was inherited from Alliant Techsystems Inc., which merged last year with Orbital Sciences Corp. to form Orbital ATK.

Deloitte & Touche LLP audited the company through March 31, 2015, with the role then taken by PricewaterhouseCoopers LLP. Both are assisting with the continuing probe.

Orbital ATK shares were recently down 18% at $73.43.

Continued in article

Bob Jensen's threads on Deloitte & Touche LLP scandals are at
http://faculty.trinity.edu/rjensen/Fraud001.htm

Bob Jensen's Fraud Updates ---
http://faculty.trinity.edu/rjensen/FraudUpdates.htm

From the CFO Journal's Morning Ledger on August 3, 2016

Washington State files $100 million lawsuit against Comcast
Washington State Attorney General Bob Ferguson has filed a $100 million lawsuit against Comcast Corp. saying the cable giant deceived customers into paying tens of millions of dollars in fees for a “near-worthless” service protection plan. Mr. Ferguson also accused Philadelphia-based Comcast of committing more than 1.8 million violations of the state’s Consumer Protection Act, by charging improper service call fees and using improper credit screening practices. “This case is a classic example of a big corporation systematically deceiving Washington state consumers and putting profits above those consumers,” said Mr. Ferguson.

Bob Jensen's Fraud Updates ---
 http://faculty.trinity.edu/rjensen/FraudUpdates.htm

Law School Deans in Australia Are Running and Bait and Switch Operation ---
http://taxprof.typepad.com/taxprof_blog/2016/08/law-prof-law-school-deans-are-running-a-bait-and-switch-operation.html

Bob Jensen's Fraud Updates ---  http://faculty.trinity.edu/rjensen/FraudUpdates.htm 

SEC Charges Former NFL Football Player With Running $10 Million Fraud

Washington D.C., Aug. 10, 2016 — The Securities and Exchange Commission today charged Merrill Robertson Jr., a former player for the Philadelphia Eagles, with defrauding investors, including coaches he knew from his time playing football for the Fork Union Military Academy and the University of Virginia.

The SEC’s complaint, filed in federal court in Richmond, Virginia, charges Robertson, Sherman C. Vaughn Jr., and the company they co-owned, Cavalier Union Investments LLC. According to the complaint, the defendants promised to invest in diversified holdings but diverted nearly $6 million of the more than $10 million they raised from investors to pay for personal expenses and used other funds to repay earlier investors.

Robertson and Vaughn, both of Chesterfield, Virginia, are alleged to have lied about the unregistered debt securities they sold, saying they would yield as much as 20 percent “while providing safety and security for our investors.” According to the complaint, the defendants claimed that Cavalier had investment funds operated by experienced investment advisers when it did not have any funds or investment advisers and was functionally insolvent shortly after it was formed. The defendants allegedly hid this fact from potential investors and relied on cash from new investors to stay afloat. The complaint further alleges that Cavalier’s only investments were in restaurants that had all failed by 2014, something the defendants never disclosed as they continued soliciting and accepting investors’ money. The scheme allegedly targeted seniors and coaches, donors, alumni, and employees of schools Robertson had attended.

“Our complaint alleges that Robertson and Vaughn preyed on elderly victims and others who placed their trust in these individuals, only to have their savings stolen,” said Sharon B. Binger, Director of the SEC’s Philadelphia Regional Office. “We will continue to aggressively pursue fraudsters who exploit their relationship of trust with victims and promise returns that appear to be too good to be true.”

The SEC encourages investors to check the backgrounds of people selling them investments. A quick search on the SEC’s investor.gov website would have shown that Robertson and Vaughn are not registered to sell securities.

In a parallel action, the U.S. Attorney’s Office for the Eastern District of Virginia today announced criminal charges against Robertson.

Continued in article

Bob Jensen's Fraud Updates ---
http://faculty.trinity.edu/rjensen/FraudUpdates.htm

Dennis Elam: Who is the worst fraudster in 2016? (remember it's only July) ---
http://professorelam.typepad.com/my_weblog/2016/07/whos-the-worst-2016.html
Dennis teaches internal auditing

Each Fall I begin a Who's the Worst list of fraudsters.This is preparation for the Accounting Ethics 5308 class taught in the spring. One particular case has already caught my eye so let's get underway. 

Business

Valeant Pharma stock has fallen 73% this year.

CEO Mike Pearson is leaving, not a mutual decision. Activist investor Bill Ackman is joining the Board. There will be more on the firm in this space I am sure....

Valeant's Elizabeth Holmes banned from running a lab for two years. She intentionally omitted information about lab tests to shareholders.

 

Politics

Representative Corrine Brown has been indicted along with her Chief of Staff for using the One Door for Education Foundation as a sluch fund.

She had raised some $800,000 but only dispensed one $1,000 scholarship. Apparently she deposited money from the charity to her personal bank account.g Funds were also used to pay for events hosted by Brown including lavish receptions and luxury boxes at concerts. \

In 2013 Crown responded to a question by saying Don't confuse me with the facts.

_________________

U S Rep Chaka Fattah was found guilty of all counts including racketeering, fraud, and money laundering.

This scheme also involved an education non profit.

He routed a federal grant through his consultants to pay back an illegal loan. The 59 year Old Democrat had beenin Congress since 1995 and served on the powerful House ?Appropriations Committee.

Gee how is that for irony!

___________________

Hillary Clinton violates the Federal Records Act, among other statutes.

FBI's Comey confirms foreign hackers probably have all 60,000 e mails including the 30,000 not released. President Obama campaigns for her the same day the Attorney General is supposedly deciding on prosecution. Hmm, do we have a double standard here?

Jensen Comment
Millions of Republicans and Democrats are calling Donald Trump a fraud.
Veteran Supreme Court Justice Ruth Ginsberg called him a "Faker" ---
https://en.wikipedia.org/wiki/Ruth_Bader_Ginsburg
She's since apologized for her remarks deemed inappropriate for a USA Supreme Court Justice
Donald Trump may still be the biggest fraud of 2016 but there's no monetary gain here --- it's costing him a sizeable share of his fortune to be a "faker."
All frauds committed along the way to November 2016 seem to be more a part of his ego tri.
The damage to Ginsberg is probably beyond repair after such a long and distinguished history on the Supreme Court (ignoring the time she was filmed sleeping through a court session).

I have my on opinion as to who the biggest fraudster continues to be from 2012, but the fraud may have been one of his friends rather than he himself. There's no way of proving it since the IRS destroyed the evidence.

Other candidates for Fraudsters of the Year are documented for various years at
 http://faculty.trinity.edu/rjensen/FraudUpdates.htm 

SEC Accuses KPMG Partner, Two Others With Insider Trading ---
Business Insider, July 8, 2016
http://www.businessinsider.com/r-sec-accuses-kpmg-partner-in-atlanta-two-others-of-insider-trading-2016-7

Remember how we were all shocked when KPMG's Los Angeles managing partner Scott London went to the slammer (14 months) for insider trading ---
http://www.latimes.com/business/money/la-fi-mo-kpmg-scott-london-sentencing,0,3315282.story#axzz2zuM77Xjv

What is it with KPM$ partners?

Chrysler vehicles (Jeep, RAM, and Fiat) are rated by Consumer Reports as the least reliable vehicles on the road.
Now Chrysler'z revenue reporting is voted by the SEC as the least reliable in finance ---
http://www.bloomberg.com/news/articles/2016-07-18/fiat-chrysler-said-to-face-u-s-justice-department-fraud-probe

FBI:  The Long Hike to Prison --- Fugitive Spent Years Hiding on the Appalachian Trail ---
https://www.fbi.gov/news/stories/fugitive-spent-years-hiding-on-appalachian-trail

Jensen Comment
I can see part of the Appalachian Trail atop Mt. Lafayette and Mt. Washington.
I really could not see the fugitive or anybody else because they are just too far away from my cottage.

Bob Jensen's Favorite Pictures of Mt. Lafayette 10 Miles Distant
http://faculty.trinity.edu/rjensen/tidbits/Mountains/Layfayette01/Lafayette01.htm
With nine pages quoted from Bill Bryson's traumatic climb up Mt. Lafayette
A Walk in the Woods by Bill Bryson (Anchor Books, 2007)
 

"Auditor PwC said to be under investigation in biotech fund embezzlement case," by Francine McKenna, MarketWatch, July 18, 2016 ---
http://www.marketwatch.com/story/auditor-pwc-said-to-be-under-investigation-in-biotech-fund-embezzlement-case-2016-07-18

From the CFO Journal's Morning Ledger on July 5, 2016

Barclays trio get Libor-rigging conviction
Three former Barclays employees have been convicted of conspiracy to defraud in connection with an investigation into the manipulation of Libor interest rates. British citizens Jonathan Mathew and Jay Merchant as well as American Alex Pabon were convicted by a jury at Southwark Crown Court after an 11-week trial. The jury couldn’t reach verdicts for two of their co-defendants, the U.K.’s Serious Fraud Office wrote in a press release on Monday.

Bob Jensen's Fraud Updates
 http://faculty.trinity.edu/rjensen/FraudUpdates.htm

IRS Sues Facebook For Billions In Undervalued IP Assets In 2010 Irish Transfers ---
http://taxprof.typepad.com/taxprof_blog/2016/07/irs-sues-facebook-for-billions-in-undervalued-ip-assets-in-2010-irish-transfers.html

Bob Jensen's Fraud Updates
 http://faculty.trinity.edu/rjensen/FraudUpdates.htm