Archive for July 27th, 2010

SEC: ‘Offshore Does Not Mean Off-Limits’; Agency Charges Famous U.S. Firm With Violating Foreign Corrupt Practices Act In Alleged Bribery Scheme

SEC: 'Offshore Does Not Mean Off-Limits'; Agency Charges Famous U.S. Firm With Violating Foreign Corrupt Practices Act In Alleged Bribery Scheme

BULLETIN: The Securities and Exchange Commission has charged General Electric Co. and two foreign subsidiaries in an alleged kickback scheme with the Iraq government “to win contracts to supply medical equipment and water purification equipment.” Robert Khuzami, director of the SEC’s Division of Enforcement, did not mince words when announcing the charges and a settlement […]

INetGlobal Loses Court Appeal; Judge Says Magistrate Judge’s Ruling On Treatment Of Witnesses Was Correct

INetGlobal Loses Court Appeal; Judge Says Magistrate Judge's Ruling On Treatment Of Witnesses Was Correct

INetGlobal, a Minneapolis-based autosurf firm under investigation by the U.S. Secret Service and the IRS, has lost an appeal. On May 28, U.S. Magistrate Judge Franklin Noel issued an order that permitted investigators to make contact with witnesses in the case under certain conditions. Paul Engh, an attorney who said he represented INetGlobal employees, filed […]

MAXIMUM KABOOM? Woman Found Guilty On 122,000 Counts In Pyramid Case; Tells Psychologist She Could Have Saved Firm Had Government Not Interfered

MAXIMUM KABOOM? Woman Found Guilty On 122,000 Counts In Pyramid Case; Tells Psychologist She Could Have Saved Firm Had Government Not Interfered

Is it the maximum case of Kaboom! — coupled with the maximum case of denial? The government of South Africa hit Maritjie Prinsloo with a whopping 122,000 counts of fraud, racketeering and money-laundering in a pyramid-scheme case that involved an estimated $205 million. (R1.5 billion.) Prinsloo was found guilty last month. South African media now […]