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News & Updates

April 3, 2012 GSA head resigns amid reports of lavish spending

Source: AP

WASHINGTON (AP) — A senior government official resigned Monday after a report concluded her agency improperly paid for an "over-the-top" training session near Las Vegas that featured a mind reader, bicycle giveaways and lavish...

April 2, 2012 Going bananas

Source: The Economist

SOMETIMES you bend over backwards to please, but still get nowhere. That is what appears to have happened to Chiquita Brands, an American firm which is one of the world’s biggest suppliers of bananas and other fruit. Despite...

March 30, 2012 Hong Kong Brothers Are Latest Billionaires Arrested

Source: Forbes

Billionaire brothers Thomas and Raymond Kwok, who run Hong Kong’s largest real estate developer Sun Hung Kai Properties, have been arrested by Hong Kong’s Independent Commission Against Corruption (“ICAC”) in connection with an...

March 28, 2012 Japan seeking fresh criminal complaint vs. Olympus

Source: MarketWatch

Japanese securities regulators Wednesday sought additional charges against Olympus Corp. and five individuals for their alleged involvement in the company's $1.5 billion accounting scandal for financial periods that weren't...

March 28, 2012 LA Fitness Represents EVIL Corporate Business Ethics In America

Source: Civilians News

Many Americans have come to notice that LA Fitness has quickly become the fastest growing “gym” or workout center, in the country. What most Americans don’t know however, is that LA Fitness became the largest gym in America...

March 28, 2012 Calif. Democratic treasurer perpetrated $7M fraud

Source: USA Today

SACRAMENTO, Calif. (AP) – Democratic campaign treasurer Kinde Durkee defrauded at least 50 candidates, officeholders and political organizations out of $7 million in a scheme that dates back more than a decade, according to a...

March 28, 2012 Former MF Global CFO describes her concerns that clients’ funds were at risk

Source: Washington Post

Days before the MF Global brokerage firm collapsed, leaving many of its clients without access to their money, a top executive was troubled that the firm appeared to be putting customer funds at risk, the executive says.

March 27, 2012 AIJ President Admits To Falsifying Fund Performance

Source: NASDAQ

TOKYO -- The head of a Tokyo asset manager alleged to have lost $1.3 billion in client money admitted wrongdoing for the first time on Tuesday, saying that the company had falsified the investment performance of its funds to hide...

March 26, 2012 How to rebuild trust in business

Source: Guardian

Alistair Campbell agonised over "this huge stuff around trust". Organisations as diverse as BP, Goldman Sachs, Southern Water, Toyota, Castlebeck Care Homes, Stockport's Stepping Hill hospital and, of course, News International...

March 26, 2012 Former President of Atlanta-Based Public Company Indicted in Multi-Million-Dollar Securities Fraud Cover-Up

Source: 7th Space

ATLANTA—JOSEPH PACIFICO, 62, of Atlanta, was indicted today by a federal grand jury for securities fraud, causing the filing of false financial statements, and falsifying the books and records of a public company. The charges are...

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