Oh My Fraud

Lou Pearlman: The King of Ponzi Pop

Caleb Newquist — Wed, 06 May 2026 02:00:00 -0700

In the 1990s, a blimp enthusiast with a checkered business record inexplicably dominates pop music by assembling not one but two boy bands.

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SOURCES:

Lou Pearlman [Wikipedia]
Baron Blimp Lou Pearlman, head of Airship International Ltd., is fulfilling adolescent dreams of glory [Sports Illustrated]
Lou Pearlman, Boy Band Impresario, Blimp Tycoon, and Bunco Artist, Dead at 62 [Slate]
How Lou Pearlman used Backstreet Boys, *NSYNC to lure people into massive Ponzi scheme [ABC News]
*NSYNC, O-Town members on learning the truth about Lou Pearlman [ABC News]
*NSYNC vs. Backstreet Boys: The True Story Behind Their Epic Boy Band Rivalry [E! Online]
Lance Bass on the 'NSync and the Backstreet Boys rivalry: 'The animosity was real' [Yahoo Entertainment]
Backstreet Boys Turn 25: Untold Stories [Entertainment Tonight]
Lou Pearlman Ran 1 of America's Biggest Ponzi Schemes [A&E]
Pop Dreams and Ponzi Schemes [Schneider Downs]
The "Con" in Trans Continental: Lou Pearlman [Gavin P. Smith]
AS HE RAN, CASE WAS BUILT [Tampa Bay Times]
IN JAIL AND ON THE PHONE, LOU PEARLMAN REVERSES THE CHARGES [Tampa Bay Times]
Victims who lost millions in Pearlman Ponzi scheme could recover a pittance [WFTV]
Backstreet Boys' Lou Pearlman's Prison Interview: My Ponzi Scheme Was Smarter Than Madoff's [The Hollywood Reporter]
Lou Pearlman Dead: Remembering the Ponzi Schemer Who Spawned the Backstreet Boys, 'N Sync and More [The Hollywood Reporter]
Lou Pearlman, disgraced creator of 'NSync and Backstreet Boys, dies [NBC News]
Netflix's 'Dirty Pop' exposes Lou Pearlman's deceptive role in 'NSYNC and Backstreet Boys' fame [MSNBC]
The True Story of Lou Pearlman in 'Dirty Pop: The Boy Band Scam' [Netflix Tudum]
The True Story Behind Dirty Pop: The Boy Band Scam [TIME]
10 Most Shocking Reveals From Netflix's Dirty Pop [Screen Rant]
The Biggest Revelations From Dirty Pop [Den of Geek]
Mad About the Boys [Vanity Fair]
Inside the rise and fall of the record store chain Tower Records [Clicktrack]
Viewpoint: The Backstreet Boys phenomenon [BYU Daily Universe]
Remembering Lou Pearlman: The Ponzi Schemer Who Spawned the Backstreet Boys, *NSYNC & More [Billboard]
The Boy Band Con: The Lou Pearlman Story [YouTube Originals]
The Hit Charade: Lou Pearlman, Boy Bands, and the Biggest Ponzi Scheme in U.S. History — Tyler Gray

Phar-Mor Than Meets the Eye

Caleb Newquist — Wed, 22 Apr 2026 02:00:00 -0700

To help his down-and-out Ohio hometown, an unassuming entrepreneur builds a fast-growing chain of discount drugstores.

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Sources:
Phar-Mor [Wikipedia]

Michael I. Monus [Wikipedia]

World Basketball League [Wikipedia]

Edward J. DeBartolo Sr. [Wikipedia]

PricewaterhouseCoopers [Wikipedia]

How to Steal $500 Million [PBS Frontline]

How to Steal $500 Million — Transcript [PBS Frontline]

Mickey's Secret Life [Newsweek]

Rockies born of Monus' work, but he never saw his baby grow up [ESPN]

Souls of the departed haunt Youngstown [ESPN]

How Phar-Mor Came Tumbling Down [Business Journal Daily]

Phar-Mor Reorganizes as Monus Goes to Prison [Business Journal Daily]

Jury Disagrees on All 126 Counts Against Fired Phar-Mor President [Deseret News]

Convicted Drugstore Embezzler Now Accused of Jury Tampering [Deseret News]

In God’s Bank We Trust

Caleb Newquist — Wed, 08 Apr 2026 02:00:00 -0700

The Catholic Church’s financial entanglements draw scrutiny after a banker is found hanging under a bridge.

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(00:00) - Body Under Blackfriars
(00:47) - Welcome to Oh My Fraud
(04:43) - Meet Roberto Calvi
(07:10) - Vatican Bank Ties
(12:55) - Offshore Web And Scrutiny
(17:47) - Circular Money And Conviction
(22:35) - Flight And Bridge Death
(26:17) - Bigger Web Vatican P2
(33:04) - Collapse And Missing Billions
(39:24) - Murder Mystery And Trials
(41:42) - Lessons And Wrap Up

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SOURCES:
Roberto Calvi [Wikipedia] — https://en.wikipedia.org/wiki/Roberto_Calvi

Banco Ambrosiano [Wikipedia] — https://en.wikipedia.org/wiki/Banco_Ambrosiano

Michele Sindona [Wikipedia] — https://en.wikipedia.org/wiki/Michele_Sindona

Propaganda Due [Wikipedia] — https://en.wikipedia.org/wiki/Propaganda_Due

Licio Gelli [Wikipedia] — https://en.wikipedia.org/wiki/Licio_Gelli

Scandal at the Pope's Bank [TIME, July 1982] — https://time.com/archive/6856828/scandal-at-the-popes-bank/

Italy: The Great Vatican Bank Mystery [TIME, September 1982] — https://time.com/archive/6697494/italy-the-great-vatican-bank-mystery/

The Vatican Hiding Behind the Walls [TIME, March 1987] — https://time.com/archive/6708575/the-vatican-hiding-behind-the-walls/

Four indicted in '82 death of 'God's banker' [NBC News, 2005] — https://www.nbcnews.com/id/wbna7546141

All acquitted in 'God's banker' murder trial [NBC News, 2007] — https://www.nbcnews.com/id/wbna19075395

23 years on, five stand trial for death of 'God's banker' [Irish Times, 2005] — https://www.irishtimes.com/news/23-years-on-five-stand-trial-for-death-of-god-s-banker-1.502326

Roberto Calvi: Who Killed God's Banker? [OwlCation/The CrimeWire] — https://owlcation.com/social-sciences/Who-Killed-Gods-Banker

The mysterious death of 'God's Banker' [Crime+Investigation UK] — https://www.crimeandinvestigation.co.uk/articles/roberto-calvis-mysterious-death

Roberto Calvi [Forensic Cold Case Murder Investigation] — https://www.forensic-access.co.uk/cold-cases/roberto-calvi/

The Vatican Bank Scandal [Christianity Today, 1982] — https://www.christianitytoday.com/1982/09/vatican-bank-scandal/

Vatican Bank mired in laundering scandal [NBC News/AP, 2010] — https://www.nbcnews.com/id/wbna40628315

Liquidators and creditors of the failed Banco Ambrosiano [UPI Archives, 1984] — https://www.upi.com/Archives/1984/05/25/Liquidators-and-creditors-of-the-failed-Banco-Ambrosiano-of/8243454305600/

The Defrauded Famous: Tim Duncan and Stan Lee

Caleb Newquist — Wed, 25 Mar 2026 02:00:00 -0700

Two more tales of celebrities betrayed by the very people they entrusted to manage their vast fortunes.

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Sources

Duncan gives ex-money man a dressing down [San Antonio Express-News]
Feds charge — and sue — Tim Duncan's former financial adviser [MySA]
Tim Duncan's ex-financial adviser sentenced to 4 years in wire fraud case [KSAT]
Financial adviser who swindled Tim Duncan out of millions gets 4 years in prison [News4SanAntonio]
Tim Duncan on losing $20M to financial advisor betrayal [Basketball Network]
Charles Banks, Winery Owner and Former Financial Advisor to Tim Duncan, Is Indicted in Federal Court [Wine Spectator]
The Curious Case of Charles Augustus Banks IV [NorthBay Biz]
Terroir Capital's Charles Banks Likely Out of Wine Business For Good [Wine Enthusiast]
United States v. Banks IV (2018) [FindLaw / 5th Circuit]
Litigation Release re: Charles A. Banks [SEC.gov]
Judge Drops Theft Charges Against Stan Lee's Ex-Manager After Jury Deadlocks [Variety]
Stan Lee's Daughter Settles Lawsuit Against Memorabilia Manager [Variety]
Stan Lee estate settles suit against ex-business manager [Hollywood Reporter]
Marvel Comics Mogul Stan Lee's Former Manager Keya Morgan [NBC News]
Stan Lee's Business Partner Keya Morgan Arrested for Alleged Elder Abuse [E! News]
Keya Morgan, former business manager for Stan Lee, pleads not guilty to elder abuse [ABC15 Arizona]
Stan Lee's Ex-Manager Keya Morgan's Criminal Charges Dismissed [MovieWeb]
Stan Lee's Former Business Manager Charged With Elder Abuse [The Forward]
What Happened to Stan Lee's Ex-Business Manager Keya Morgan After 2019 Arrest [FandomWire]
Stan Lee Abduction, Abuse, Theft of $5,000,000 Assets... [Bleeding Cool]
Stan Lee Fast Facts [CNN]
Jock tax [Wikipedia]
Tim Duncan [Wikipedia]

Corruption by Design, with David Sirota

Caleb Newquist — Wed, 11 Mar 2026 02:00:00 -0700

David Sirota had no idea that getting assigned to a little-known congressman from New England would end up shaping the rest of his life. That New England congressman was Bernie Sanders, and David quickly learned why our political and economic systems work the way they do, and that it’s no accident. Caleb talks to David about his life and career, how corruption entrenched itself in our lives, and the one indulgence that is capable of corrupting him.

Sponsors
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https://www.davidsirota.com/
https://x.com/davidsirota

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Sources:

French biathlete guilty of fraud wins Olympic gold while scammed teammate comes 80th [Guardian]
David Sirota [Wikipedia]
Master Plan [The Lever]
The Lever

Simply ZZZZ Worst

Caleb Newquist — Wed, 25 Feb 2026 02:00:00 -0800

A teenage entrepreneur charms Southern California, and then Wall Street, with his rapidly growing carpet cleaning and insurance restoration empire.

Sponsors
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Sources:

Behind ‘Whiz Kid’ Is a Trail of False Credit Card Billings [LAT]
Minkow Is Convicted on All Charges: Jury Decides That ZZZZ Best Founder Masterminded Fraud [LAT]
https://www.latimes.com/archives/la-xpm-1988-12-15-mn-362-story.html
ZZZZ Best: The House of Cards Falls [LAT]
https://www.latimes.com/archives/la-xpm-1987-09-06-mn-6256-story.html
Police Learn How Mob Moved In on Minkow [LAT]
https://www.latimes.com/archives/la-xpm-1988-02-21-mn-44325-story.html
Last Loose End Wrapped Up in ZZZZ Best Fraud Case [LAT]
https://www.latimes.com/archives/la-xpm-1994-05-05-mn-54183-story.html
Barry Minkow to Help U.S. Investigators as Part of Plea Deal [LAT]
https://www.latimes.com/business/la-xpm-2011-mar-30-la-fi-minkow-plea-20110330-story.html
The Secretary Who Helped Uncover One of America’s Strangest Ponzi Schemes [The Hustle] https://thehustle.co/the-secretary-who-helped-uncover-one-of-americas-strangest-ponzi-schemes
Barry Minkow Charged With Conspiracy to Manipulate Lennar Stock [DOJ]
https://www.justice.gov/archive/usao/fls/PressReleases/2011/110324-01.html
Barry Minkow Sentenced for Securities Fraud Conspiracy (Lennar Short-Sale Case) [DOJ]
https://www.justice.gov/archive/usao/fls/PressReleases/2011/110721-02.html
Former Inmate Turned Pastor Barry Minkow Pleads Guilty to Bilking Congregation [DOJ]
https://www.justice.gov/sites/default/files/usao-sdca/legacy/2015/04/30/cas14-0122-MinkowPR.pdf
Notorious Conman Turned Pastor Barry Minkow Sentenced to Five Years in Prison for Bilking Congregation [DOJ]
https://www.justice.gov/usao-sdca/pr/notorious-conman-turned-pastor-barry-minkow-sentenced-five-years-prison-bilking
Barry Minkow Gets Five More Years [Courthouse News]
https://www.courthousenews.com/barry-minkow-getsfive-more-years/
Con Man Gets Prison for San Diego Church Fraud [AP News]
https://apnews.com/general-news-91612bdc0afb48178a38a41ab99b27bc
Barry Minkow: All-American Con Man [Fortune]
https://fortune.com/2012/01/05/barry-minkow-all-american-con-man/

IT Headhunting with the Enemy

Caleb Newquist — Wed, 11 Feb 2026 02:00:00 -0800

A woman caring for her ailing mother is drawn into a North Korean scheme to infiltrate American companies.

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Leasing Peter to Pay Paul

Caleb Newquist — Wed, 28 Jan 2026 02:00:00 -0800

In the 1970s, two lifelong friends set out to disrupt the computer leasing industry.

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Sources:

O.P.M. BANKRUPTCY: QUESTIONS ABOUND [NYT]
The Bubble Bursts Following O.P.M.'s Overnight Success [Washington Post]
GUILTY PLEAS IN O.P.M. FRAUD CASE [NYT]
TWO GET PRISON IN COMPUTER CASE [NYT]
SEC News Digest, January 11, 1983 [SEC]
ETHICS AND THE LAW: A CASE HISTORY [NYT Magazine]
S.E.C. FILES SUIT AGAINST FOX & CO. [NYT]

You’re Once, Twice, Three Times a Fraudster

Caleb Newquist — Wed, 14 Jan 2026 02:00:00 -0800

A real estate developer serving time for fraud gets a second chance.

Sponsors
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(00:00) - Eli Weinstein is Pardoned
(01:41) - Podcast Announcements and Reviews
(08:01) - Lakewood Township and Weinstein's Background
(09:14) - Weinstein's Real Estate Fraud
(11:09) - Legal Troubles and Indictments
(16:13) - Weinstein's Sentencing and Clemency
(22:34) - The Complexity of Executive Clemency
(24:11) - Weinstein's New Fraud Scheme
(25:32) - The Optimus Investments Scam
(30:02) - Unraveling the Fraud
(35:30) - The Downfall and Legal Consequences
(40:39) - Reflections on Clemency and Fraud
(47:09) - Final Thoughts and Credits

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Sources:

The Oh My Fraud 2025 Recap

Caleb Newquist — Wed, 31 Dec 2025 02:00:00 -0800

Caleb and Zach discuss the past year in Oh My Fraud.

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Sources:

Columbus zoo seeks foreclosure of former executives' homes to pay restitution in fraud case [The Columbus Dispatch]
TV drama on gambling scandal surrounding Shohei Ohtani’s ex-interpreter in development [The Athletic]
SEC Walks Away From Ozy Media, Stanford Fraud Cases [Law360]
US podcaster who helped convict ‘Queen of the Con’ disappointed at short sentence [The Guardian]

Do You Want More Oh My Fraud?

Caleb Newquist — Tue, 30 Dec 2025 12:00:00 -0800

In this short episode, Caleb lays out a few ideas for what an Oh My Fraud Patreon could look like — including ad-free episodes and bonus content — and asks one simple question: would you subscribe?

Before anything launches, Caleb and Zach want to gauge listener interest. If you’ve got 10 seconds, take the quick survey linked in the show notes and let us know.

Take a quick 3 question survey: https://forms.gle/8Wyz8v7DTJ5JFaYJ7

Or email us at ohmyfraud@earmarkcpe.com

OMF at the Movies: The Accountant

Caleb Newquist — Wed, 17 Dec 2025 02:00:00 -0800

David Leary of The Accounting Podcast joins Caleb and Zach to discuss the 2016 hit action movie, The Accountant, starring Ben Affleck.

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(00:00) - The Accountant Bonus Episode
(04:26) - Overview of 'The Accountant' Movie
(06:12) - First Accounting Scene: Tax Advice
(09:39) - Forensic Accounting at Living Robotics
(15:27) - Uncovering the Fraud
(21:17) - Mercenaries and Action Scenes
(30:18) - Money Laundering and Art as Assets
(39:04) - The Final Confrontation
(40:44) - The Movie's Conclusion
(45:11) - The Fraud Triangle Explained
(52:25) - Forensic Auditing and AI
(01:02:22) - Movie Review and Final Thoughts
(01:07:17) - Outro

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Divine Yen, Devilish Fraud

Caleb Newquist — Wed, 03 Dec 2025 02:00:00 -0800

A serial fraudster attracts a devoted following when he invents a currency.

Sponsors
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Sources:

58 crypto wallets have made millions on Trump’s meme coin. 764,000 have lost money, data shows [CNBC]
Pyramid Schemes: How to Lose Friends and Alienate Money [OMF]
Chairman arrested in Japan 'scam' [BBC]
Japanese man arrested over 1.4-bn-dlr investment scam [Sydney Morning Herald]
Arrests made in what could be biggest investment scam in Japanese history [The Guardian]
Japan to Indict Suspected Swindler Nami in $2.5 Billion Fraud [Bloomberg via Archive]
Sexy female reporters mobilized to cover L&G chairman [Japan Today]
Japanese businessman arrested in investment scam [Asia News Network via Wayback Machine]
Bedding supplier chief given 18 years for investment fraud [Japan Weekly Monitor]
Sir Frauds a Lot | The Case of Stanford Financial Group [OMF]

A Long Time Ago, in a Fraud Far, Far Away

Caleb Newquist — Wed, 19 Nov 2025 02:00:00 -0800

Two tales of corruption and deceit from the ancient world.

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Sources:

Year of the Five Emperors [Wikipedia]
Pertinax [Wikipedia]
Didius Julianus [Wikipedia]
Demosthenes, Against Zenothemis [Scaife Viewer]
A MODERN INSTANCE OF ZENOTHEMIS V. DEMON [Michigan Law Review]
Bottomry and Dumb-ass Fraud: Demosthenes 32 - Against Zenothemis [Ancient Classics via YouTube]

Fraud Against the Machine

Caleb Newquist — Wed, 05 Nov 2025 02:00:00 -0800

Two stories of people attempting to swindle Big Tech.

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Sources:

Meet the Professor Who Blew the Whistle on Stock Options Backdating

Caleb Newquist — Wed, 22 Oct 2025 02:00:00 -0700

Over the course of Erik Lie’s career, seemingly small decisions have transformed into defining moments. Everything from leaving his native Norway to study at the University of Oregon, to a squash partner’s nudge that he pursue a career as a finance professor. But it was his choice of a research topic—executive compensation—that led to the most significant moment of all: uncovering one of the most explosive corporate scandals of the 21st century.

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Buy Erik's New Book
https://www.amazon.com/gp/product/B0DV4BLF8J?tag=randohouseinc7986-20
Connect with Erik Lie
https://eriklie.com/
https://www.linkedin.com/in/erik-lie-627a7351

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Sources:

On the Timing of CEO Stock Option Awards [Management Science]
Does backdating explain the stock price pattern around executive stock option grants? [Journal of Financial Economics]
He's Making Hay As CEOs Squirm [BusinessWeek via Wayback Machine]
Erik Lie [Time 100 via Wayback Machine]
Backdating Scandal Ends With a Whimper [NYT]
Erik Lie [Iowa Tippie College of Business]
Catching Cheats | Everyday Forensics to Unmask Business Fraud [Berret-Koehler]
Meet the Fraud Professor: Daniel J. Taylor of The Wharton School [OMF]

The Belgian Waffle

Caleb Newquist — Wed, 08 Oct 2025 02:00:00 -0700

A scrappy Flemish speech recognition company tries to put its hometown on the global tech map.

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(00:00) - A Pie to the Face
(01:00) - Welcome to Oh My Fraud
(06:00) - Welcome to Flanders, Belgium
(07:30) - Meet the Founders: Jo Lernout and Pol Hauspie
(09:30) - The Dream of Voice Recognition
(15:12) - Going Public in a Crowded Market
(17:42) - Creating the Flanders Language Valley
(21:42) - Gaston Bastiaens and His Wine Cellar Wager
(26:23) - Microsoft's $45 Million Investment
(29:23) - The Philosophy of Pie Throwing
(30:53) - Explosive Growth and Suspicious Numbers
(32:53) - Dragon Systems and Dictaphone Acquisitions
(35:23) - The Korean Revenue Mystery
(38:23) - Wall Street Journal Starts Digging
(42:18) - "I Lied About Everything"
(43:48) - The Resignation and Bankruptcy
(47:48) - The SEC Reveals the Fraud
(49:48) - Criminal Convictions and Symbolic Justice
(50:48) - Lessons Learned: Fake It Till You Make It
(52:18) - What Happened to the Technology
(53:48) - Closing Thoughts

HOW TO EARN FREE CPE

In less than 10 minutes, you can earn NASBA-approved accounting CPE after listening to this episode. Download our mobile app, sign up, and look for the Oh My Fraud channel. Register for the course, complete a short quiz, and get your CPE certificate.

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CONNECT WITH CALEB
LinkedIn: https://www.linkedin.com/in/calebnewquist/

Email us at ohmyfraud@earmarkcpe.com

Sources:

How Hype Hurt Lernout & Hauspie [Bloomberg via Wayback Machine]
How High-Tech Dream Shattered In Scandal at Lernout & Hauspie [WSJ]
Lernout & Hauspie Speech Products: Financing From Start-up through IPO [INSEAD, Herwig Langohr, Benoit Leleux, Danny Lein, July 2000, accessed on Sept. 16, 2025]
Lernout & Hauspie Speech Products: The Question [INSEAD, Arnoud De Meyer, Bart Pycke, January 1998, accessed on Sept. 16, 2025]
Quarterdeck Office Systems [Wikipedia]
Patent Is Won By Quarterdeck [NYT]
Internet Hype Gives New Life to Quarterdeck Stock [LAT]
Gaston Bastiaens [Apple.Fandom]
Today in Apple history: Apple exec bets his wine cellar on Newton [CultofMac]
Will Microsoft's Stake in Lernout & Hauspie Drive Growth in Speech? [Speech Technology Magazine]
In Brussels, Gates Takes a Pie in the Face [Reuters via Wayback Machine]
Bill Gates Being Hit in the Face With a Pie (1998) [YouTube]
Noël Godin [Wikipedia]
He Plasters Paris’ Elite With Cream Pies [LAT]
Bernard-Henri Levy Pied again in Belgium [YouTube]
FM Interviews: Noël Godin [First Monday]
Lernout & Hauspie Shares Drop Amid Puzzling Revenue Results [WSJ]
Lernout & Hauspie Surges In Korea, Raising Questions [WSJ]
Lernout's Bastiaens Will Step Down From CEO Post at Software Concern [WSJ]
Lernout to Refile Financial Reports; Co-Founders Resign as Chairmen [WSJ]
Lernout Files for Bankruptcy Protection, Says Cash at South Korean Unit Is Missing [WSJ]
The Talk of Flanders Has Most Speechless [AP]
Lernout & Hauspie Speech Products, N.V., Litigation Release No. 17782, Accounting and Auditing Enforcement Release No. 1648, October 10, 2002 [Securities and Exchange Commission]
Lernout & Hauspie Speech Products, N.V., Litigation Release No. 18014, March 4, 2003 [Securities and Exchange Commission]
Lernout & Hauspie Founders Guilty in Fraud [WSJ]
Goldman Sachs and the $580 Million Black Hole [NYT]

The Price of Loyalty: Insights with Kim Sutherland of LexisNexis Risk Solutions

Caleb Newquist — Wed, 24 Sep 2025 02:00:00 -0700

Kim Sutherland has 14 different email addresses. She doesn’t suggest you do the same, but she does think a lot about fraud in her job as the Global Head of Fraud & Identity at LexisNexis Risk Solutions. As a follow-up to the last episode, Caleb and Kim discuss the various dimensions and the growing prevalence of reward point / loyalty fraud.

Sponsors
Routable - http://ohmyfraud.promo/routable

(00:00) - Introduction and CPE Opportunity
(00:26) - Meet Kimberly Sutherland from LexisNexis
(01:43) - Listener Reviews and Feedback
(04:07) - Conversation with Kimberly Sutherland Begins
(06:06) - Understanding Loyalty Points and Fraud
(22:13) - Synthetic Identity Fraud
(29:57) - Insider Threats in Loyalty Programs
(32:26) - Imagining Fraud to Prevent It
(34:39) - Detection and Prevention Strategies
(36:20) - Understanding Digital Risk
(42:45) - Fraud Databases and Shared Intelligence
(45:24) - Responding to Fraud Incidents
(53:57) - The Role of Government in Fraud Prevention
(59:49) - Future of Fraud and Prevention Technologies
(01:02:01) - Ongoing Challenges in Identity Verification
(01:03:39) - Conclusion and Credits

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Learn More About LexisNexis
https://risk.lexisnexis.com/

CONNECT WITH KIM
LinkedIn: https://www.linkedin.com/in/ksutherland365

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LinkedIn: https://www.linkedin.com/in/calebnewquist/

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Points Taken

Caleb Newquist — Wed, 10 Sep 2025 02:00:00 -0700

Rewarding customer loyalty is probably as old as commerce. These days, consumers accumulate hundreds, thousands, sometimes even millions of points that can be used to acquire everything from their favorite drink, to airline tickets, or simply pay a balance on a credit card. The fact that these rewards have an intrinsic value is something many easily forget about, making them a great target for fraud.

Sponsors
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HOW TO EARN FREE CPE

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CONNECT WITH CALEB
LinkedIn: https://www.linkedin.com/in/calebnewquist/

Sources:

The lucrative business of airline loyalty schemes [AFR]
A History of US Airline Deregulation [Travel Insider via Wayback Machine, accessed on Aug 29, 2025]
Alaska Airlines miles stolen: What to do if your account is hacked [Fox13 Seattle]
Alaska Airlines customers complain of possible hack after miles stolen from accounts [KIRO 7]
Check your mileage plans! (Mine was hacked) [r/AlaskaAirlines]
Mileage Account Hacked [r/AlaskaAirlines]
My Southwest Rapid Rewards account was hacked: How I got my points back [The Points Guy]
My AAdvantage account was hacked: Here's what happened and how you can protect yourself [The Points Guy]
Largest Employer by State 2025 [World Population Review]
Sam’s Club [Wikipedia]

Rewards Points Scheme Nets Arrest; More Sac County Victims Likely [Folsom Times]

Embezzlement Set to Cruz Control

Caleb Newquist — Wed, 27 Aug 2025 02:00:00 -0700

Following her sudden resignation, the longtime treasurer of a small Arizona county faces questions about her time in office.

Sponsors
Routable - http://ohmyfraud.promo/routable

(00:00) - An Unexpected Resignation
(01:07) - Welcome to Oh My Fraud
(03:23) - Listener Mail and Fraud Discussion
(08:23) - Santa Cruz County Background
(09:50) - Liz Gut Far's Career and Sudden Resignation
(10:50) - Investigation and Initial Findings
(16:34) - Massive Embezzlement Uncovered
(17:17) - Legal Actions and Allegations
(24:58) - Fraud Techniques and Cover-Up
(29:55) - Criminal Charges and Court Proceedings
(40:12) - Lessons Learned and Conclusion

HOW TO EARN FREE CPE

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CONNECT WITH CALEB
LinkedIn: https://www.linkedin.com/in/calebnewquist/

Sources:

Santa Cruz County’s Industry Clusters [SantaCruzCenter.org]
County Treasurer Elizabeth Gutfahr resigns [Nogales International]
Unrecorded money transfers trigger FBI investigation on former Santa Cruz Co. treasurer [News4Tucson]
County Tells School, Fire Districts That Over $4 Million Has Disappeared [Patagonia Regional Times]
County BOS, SEFD, Sonoita School District Release Statements on Missing Funds [Patagonia Regional Times]
Supervisors Told $39.4 Million in County Funds Is Missing [Patagonia Regional Times]
Report sheds light on Santa Cruz Co. Treasurer's alleged theft of $39 million [KGUN]
A Santa Cruz County official is accused of stealing $39M. A lawmaker wants tighter controls [Arizona Republic]
Santa Cruz County v. Elizabeth Gutfahr, et al.
U.S. v. Elizabeth Gutfahr
Former Arizona Elected Official Pleads Guilty to Embezzlement of More than $38M of County Funds [DOJ]
Former Santa Cruz County Treasurer Sentenced to 10 Years in Prison for Stealing Over $38 Million in County Funds [DOJ]
“One of the dumbest…crimes in Arizona state history” [KGUN]

Email us at ohmyfraud@earmarkcpe.com

Meet the Fraud Victim-Turned-Vigilante

Caleb Newquist — Wed, 13 Aug 2025 02:00:00 -0700

When Johnathan Walton learned that his best friend had conned him out of nearly $100,000, his first instinct was a little unusual—he told anyone who would listen about what happened. The story that ensued consumed his life for several years, ultimately sending his career in unexpected directions, with a hit podcast, assisting other victims with their frauds, and now, his new book, Anatomy of a Con Artist.

Sponsors
Routable - http://ohmyfraud.promo/routable

(00:00) - Introduction and Podcast Overview
(05:01) - Meet Jonathan Walton
(07:32) - Jonathan's Early Life and Career
(22:14) - The Pool Problem
(24:37) - Con Artists Don't Outsmart You
(40:00) - The Final Scam and Realization
(47:08) - Confrontation and Recording
(48:36) - Police Inaction and Persistence
(50:37) - Building a Case
(54:29) - The Arrest and Legal Battle
(57:53) - The Trial and Conviction
(01:02:49) - Post-Conviction and New Scams
(01:05:38) - Extradition and Ongoing Pursuit
(01:10:35) - Reflections and Lessons Learned
(01:24:43) - Conclusion and Final Thoughts

BUY JONATHAN'S BOOK
Anatomy of a Con Artist [Penguin Random House]

HOW TO EARN FREE CPE

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CONNECT WITH CALEB
LinkedIn: https://www.linkedin.com/in/calebnewquist/

Sources:

Queen of the Con [Spotify]

Queen of the Con [Instagram]

johnathanwalton.com

Email us at ohmyfraud@earmarkcpe.com

Meet the Podcaster Who Spills the Corporate Tea

Caleb Newquist — Wed, 30 Jul 2025 02:00:00 -0700

Caleb knew that if he could get Becca Platsky, the co-host of the Corporate Gossip Podcast, to come on Oh My Fraud, that they would have a lot to talk about. Becca and Caleb learn that they are kindred spirits, discussing their experiences not only as scorned CPAs, but as earnest gossip merchants.

Sponsors
Routable - http://ohmyfraud.promo/routable

(00:00) - Introduction and CPE
(00:43) - Discovering Corporate Gossip Podcast
(03:09) - Becca's Background and Career
(05:49) - The CPA Experience
(14:33) - Gossip in the Corporate World
(25:29) - Starting the Podcast Journey
(35:55) - Corporate Culture and CEO Critique
(42:36) - The Golden Age of Fraud
(44:46) - Corporate Corruption: A Bipartisan Issue
(58:29) - The Fraud Triangle and Human Nature
(01:07:41) - The Consequences of Corporate Negligence
(01:13:31) - Final Thoughts and Reflections

HOW TO EARN FREE CPE

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CONNECT WITH BECCA
LinkedIn: https://www.linkedin.com/in/rebeccaplatsky

CONNECT WITH CALEB
LinkedIn: https://www.linkedin.com/in/calebnewquist/

Check out Corporate Gossip Pod

Email us at ohmyfraud@earmarkcpe.com

The Frauderful Wizard of Ozy

Caleb Newquist — Wed, 16 Jul 2025 02:00:00 -0700

Carlos Watson, a charismatic, fast-rising media figure, strives to build a new kind of digital media company.

Sponsors
Routable - http://ohmyfraud.promo/routable

(00:00) - The Ozy Media Controversy Begins
(04:51) - Carlos Watson's Early Life and Career
(07:47) - The Birth of Ozy Media
(08:51) - Challenges in Digital Media
(16:47) - Ozy Media's Rise and Partnerships
(24:54) - The Beginning of Ozy Media's Downfall
(32:11) - The Goldman Sachs Incident
(34:23) - The Aftermath and Public Reaction
(43:18) - AOC and Aaron Judge: Ozy's False Claims of Discovery
(44:51) - Investigations and Media Strategy
(46:01) - Ozy's Short-Lived Comeback and Legal Troubles
(50:41) - The Trial Begins: Prosecution's Case
(01:01:07) - Watson's Defense and Testimony
(01:07:36) - Verdict and Sentencing
(01:08:24) - Commutation and Aftermath
(01:09:57) - Lessons and Reflections

HOW TO EARN FREE CPE

https://www.earmark.app/

Download the app:

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CONNECT WITH CALEB
LinkedIn: https://www.linkedin.com/in/calebnewquist/

Email us at ohmyfraud@earmarkcpe.com

Sources:

From kindergarten delinquent to star [The Hill]
From Silicon Valley to CNN [Stanford Lawyer via Wayback Machine]
Get to know Carlos Watson [Blast Magazine via Wayback Machine]
Ozymandias [Wikipedia]
About Ozy [via Wayback Machine]
WGBH to debut ‘Point Taken,’ a new late-night debate TV show taped in Boston [Boston.com]
A Bunch Of Digital Publishers Bought Cheap Traffic And Later Found Out It Was Fraudulent [BuzzFeed News]
Exclusive: OZY hits profitability on $50 million in revenue [Axios]
Goldman Sachs, Ozy Media and a $40 Million Conference Call Gone Wrong [NYT]
Ozy’s board starts an investigation after a Times report raises questions about the company. [NYT]
Ozy Built a TV Show on a False Claim, Says Its Former Producer [NYT]
Ozy Media’s chairman resigns as company faces questions. [NYT]
Sharon Osbourne says Ozy Media founder Carlos Watson lied when he claimed the Osbournes invested in his company [CNBC]
Ozy says it’s great at discovering big names before the mainstream media. But is it? [Nieman Lab]
How Ozy Media, a startup with $70 million in funding and a star-studded list of investors, collapsed in 6 days [Fortune]
How Ozy fell [Axios]
18-hour days and panic attacks: Former Ozy staffers allege an abusive environment [CNN]
Ozy Media CEO claims his scandal-ridden company will reopen, but doesn’t explain how [CNBC]
Ozy Media’s Watson on path forward: We’re going to have to change substantially [CNBC]
Ozy Media CEO Carlos Watson: 'This Is Our Lazarus Moment' [Today via YouTube]
After Ozy’s Carlos Watson Talks of a Comeback, a Key Investor Objects [NYT]
Let Me Tell You What It Was Like to Work at Ozy [NYT]
Ozy Media Is A Monumental Bummer [Defector]
Ozy Media Faces Federal Investigations [NYT]
Carlos Watson Has a Cold [Puck]
Latest NewsOzy Media CEO Carlos Watson Says a Fun Redesign Is on the Horizon [Tech Bullion via Wayback]
Article About the New, ‘Ethical’ Ozy Media Appears to Have Been Written by a Fake Journalist [Vice]
Media company Ozy is attempting a comeback [Semafor]
Ozy Media and Its Founder Carlos Watson Indicted in a Years-Long Multi-Million Dollar Fraud Scheme [DOJ]
SEC Charges Ozy Media and its CEO Carlos Watson with Widespread Scheme to Defraud Investors [SEC]
U.S. v. Carlos Watson, Ozy Media, Inc. [Indictment]
Ozy Statement, March 1, 2023 [X/Twitter]
Ozy Media Shuts Down After Founder Carlos Watson Ch...

Meet Omri Mor, Co-Founder and CEO of Routable

Caleb Newquist — Wed, 02 Jul 2025 02:00:00 -0700

Omri Mor’s experience with technology and startups began early, being a kid and hanging out at Microsoft Israel where both his parents worked. Omri tells Caleb about his journey of growing up in Tel Aviv, working at his first startup when he was 18 to the conversation over hummus he had that led to the creation of Routable.

Learn More About Routable
https://www.routable.com/

Connect with Omri
https://www.linkedin.com/in/omrimor

HOW TO EARN FREE CPE

https://www.earmark.app/

Download the app:

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Android: https://play.google.com/store/apps/details?id=com.earmarkcpe.app

CONNECT WITH CALEB
LinkedIn: https://www.linkedin.com/in/calebnewquist/

Email us at ohmyfraud@earmarkcpe.com

Cache Me If You Can | The FBI’s Latest Internet Crime Report

Caleb Newquist — Wed, 18 Jun 2025 02:00:00 -0700

For the last 25 years, the FBI’s Internet Crime Complaint Center (IC3) has collected reports from victims of online scams, and its latest annual report found that Internet-based fraud shows no signs of slowing down.

Sponsors
Routable - http://ohmyfraud.promo/routable

HOW TO EARN FREE CPE

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Download the app:

Apple: https://apps.apple.com/us/app/earmark-cpe/id1562599728
Android: https://play.google.com/store/apps/details?id=com.earmarkcpe.app

CONNECT WITH CALEB
LinkedIn: https://www.linkedin.com/in/calebnewquist/

Email us at ohmyfraud@earmarkcpe.com

Sources:

The Big Easy Bank That Got Swamped

Caleb Newquist — Wed, 04 Jun 2025 02:00:00 -0700

An ambitious New Orleans banker gets in over his head.

Sponsors
Routable - http://ohmyfraud.promo/routable
Human at Scale - http://ohmyfraud.promo/human

Join Caleb and Greg live in New Jersey NJCPA Convention & Expo [NJCPA]

HOW TO EARN FREE CPE

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Download the app:

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Android: https://play.google.com/store/apps/details?id=com.earmarkcpe.app

CONNECT WITH CALEB
LinkedIn: https://www.linkedin.com/in/calebnewquist/

Email us at ohmyfraud@earmarkcpe.com

Sources:

Banc One to Pay $3 Billion In Stock for First Commerce [Bloomberg News]
FIRST NBC BANK HOLDING COMPANY [S-1]
First NBC Bank shares rise on first trading day [New Orleans Advocate]
Driving Forces: Ashton Ryan [New Orleans City Business]
Inside the Industry: Banking | First NBC Bank [Biz New Orleans]
First NBC profit inches upward [The Times-Picayune]
First NBC: Statements not reliable [New Orleans Advocate]
New Orleans’s Premier Bank, First NBC, Runs Into Problems [WSJ]
First NBC Bank Co. deemed in 'troubled condition' by Fed [New Orleans Advocate]
Regulators to review First NBC management, procedures, liquidity [New Orleans Advocate]
First NBC proposes management shakeup; Ashton Ryan to remain as president but not CEO [New Orleans Advocate]
Short of an outright sale, First NBC Bank deal 'a big step forward,' but challenges remain [New Orleans Advocate]
New Orleans' troubled First NBC Bank anticipates further drop in value [New Orleans Advocate]
First NBC Bank fails, ordered closed; will be absorbed by Whitney Bank [New Orleans Advocate]
First NBC Bank's parent company files for bankruptcy protection [New Orleans Advocate]
First NBC Bank Holding Company [8-K]
Material Loss Review of First NBC Bank [FDIC OIG]
Ashton Ryan Jr. steps down as president of troubled First NBC Bank [New Orleans]
Sources: Federal grand jury opens probe into First NBC Bank meltdown, exploring bank's dealings with Gregory St. Angelo [New Orleans Advocate]
Mandeville land deal involving ex-First NBC head Ashton Ryan subject of grand jury probe [New Orleans]
Northshore Contractor Charged with Conspiracy to Defraud First NBC Bank [DOJ]
Bank General Counsel Pleads Guilty To Conspiracy to Defraud First NBC Bank [DOJ]
New Orleans Business Owner Pleads Guilty to Conspiracy to Defraud First NBC Bank [DOJ]
Federal regulator sues auditor Ernst & Young for negligence over First NBC collapse [Times-Picayune]
First NBC's former chief, Ashton Ryan, indicted on bank fraud and conspiracy charges [Times-Picayune]
Grand Jury Returns Superseding Indictment Charging First NBC Bank Executives And A Borrower With Bank Fraud And False Statements [DOJ]
In First NBC fraud trial, Mississippi developer says he built 'black hole' of debt with Ryan's help [Times-Picayune]
'I was never involved in any conspiracy;' Ashton Ryan takes stand in First NBC Bank fraud trial [Times-Picayune]

Meet the Journalist Who Got Suspicious of Enron Before It Was Cool

Caleb Newquist — Wed, 21 May 2025 02:00:00 -0700

Jonathan Weil caught the journalism bug early. But it was his knack for spotting financial reporting sleight-of-hand that set him apart as a young reporter at the Wall Street Journal in the late 1990s and early 2000s. Caleb talks to Jon about the circumstances that led to him writing one of the earliest stories that questioned Enron’s accounting, his time peddling opinions as a columnist at Bloomberg, and his return to journalism after taking a spin through the hedge fund world.

Sponsors
Routable - http://ohmyfraud.promo/routable
Human at Scale - http://ohmyfraud.promo/human

Jonathan Weil
LinkedIn: https://www.linkedin.com/in/jonweil
X: https://x.com/jonathanweil

Join Caleb and Greg live in New Jersey NJCPA Convention & Expo [NJCPA]

HOW TO EARN FREE CPE

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Download the app:

Apple: https://apps.apple.com/us/app/earmark-cpe/id1562599728
Android: https://play.google.com/store/apps/details?id=com.earmarkcpe.app

CONNECT WITH CALEB
LinkedIn: https://www.linkedin.com/in/calebnewquist/

Email us at ohmyfraud@earmarkcpe.com

Sources:
Energy Traders Cite Gains, But Some Math Is Missing [WSJ]

Dirty Secrets Fester in 50-Year Relationships [Bloomberg]

Jonathan Weil [WSJ]

The Fraud That Keeps on Frauding | Advance Fee Scams

Caleb Newquist — Wed, 07 May 2025 02:00:00 -0700

From Spanish Prisoners to Nigerian Princes, advance fee scams have endured for centuries, relying on victims to follow the same formula: pay first, regret later.

Sponsors
Routable - http://ohmyfraud.promo/routable
Human at Scale - http://ohmyfraud.promo/human
Rightworks Rightnow 2025 - https://ohmyfraud.promo/rightnow2025 (use code OMF15 for 15% OFF)

(00:00) - Introduction to Advanced Fee Scams
(00:57) - Podcast Introduction and Listener Interaction
(06:25) - Historical Background of Advanced Fee Scams
(12:51) - Modern Variations and Techniques
(16:12) - Psychological Manipulation in Scams
(21:26) - Case Studies of Advanced Fee Scams
(28:47) - How to Spot and Avoid Scams
(35:28) - Conclusion and Final Thoughts

Join Caleb and Greg live in New Jersey NJCPA Convention & Expo [NJCPA]

HOW TO EARN FREE CPE

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Download the app:

Apple: https://apps.apple.com/us/app/earmark-cpe/id1562599728
Android: https://play.google.com/store/apps/details?id=com.earmarkcpe.app

CONNECT WITH CALEB
LinkedIn: https://www.linkedin.com/in/calebnewquist/

Email us at ohmyfraud@earmarkcpe.com

Sources:

Advance-fee scam [Wikipedia]
Spanish Prisoner [Wikipedia]
Pigeon drop [Wikipedia]
The 9 Lives of the Spanish Prisoner, the Treasure-Dangling Scam That Won’t Die [Atlas Obscura]
AN OLD SWINDLE REVIVED. [NYT/TimesMachine]
Nigerian Scams [Know Your Meme]
We’re All Somebody’s Fool | Dan Simons & Chris Chabris [OMF]
The Psychology Behind Advance Fee Scams [Fraud, Risk and Compliance]
Chief Executive Officer And Orchestrator Of $10 Million Advance Fee And Alaskan Gold Mine Investment Schemes Sentenced To More Than 20 Years’ Imprisonment [DOJ]
After Bilking Victims of $10 Million, Serial Swindler Is Sentenced to Nearly 22 Years [NYT]
Lengthy Prison Term for Advance Fee Fraudster [FBI]
Two Convicted in Multi-Million-Dollar Advance Fee and Alaskan Gold Mine Investment Schemes [FBI]
The centuries-old scam still fooling thousands every year [Telegraph]
Almost 800 arrested over Nigerian crypto-romance scam [Reuters]
Nigeria investigates nearly 800 suspects arrested in massive cybercrime raid [VOA]
EFCC bursts syndicate run by foreigners in Lagos operating crypto investment, romance scam [Ripples Nigeria]
We’re Not a Bank in Kansas Anymore [OMF]
363: Enforcers [This American Life]

Australia’s Greatest Conman

Caleb Newquist — Wed, 23 Apr 2025 02:00:00 -0700

A respected leader of an Australian national search and rescue operation isn’t who he claims to be.

Sponsors
Routable - http://ohmyfraud.promo/routable
Rightworks Rightnow 2025 - https://ohmyfraud.promo/rightnow2025 (use code OMF15 for 15% OFF)

(00:00) - - Introduction to Richard Flanagan and John Friedrich
(01:30) - - Welcome to Oh My Fraud
(07:00) - - John Friedrich and the National Safety Council of Australia
(10:00) - - The Ash Wednesday Bushfires and NSC's Expansion
(16:42) - - Discovery of Financial Irregularities and Friedrich's Disappearance
(22:29) - - Friedrich's True Identity and Arrival in Australia
(25:59) - - Analysis Using the Fraud Triangle Framework
(30:59) - - Friedrich's Arrest, Legal Proceedings and Eventual Death
(35:29) - - Lessons Learned From the Friedrich Case and Wrap Up

HOW TO EARN FREE CPE

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Android: https://play.google.com/store/apps/details?id=com.earmarkcpe.app

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CONNECT WITH CALEB
Twitter: https://twitter.com/cnewquist
LinkedIn: https://www.linkedin.com/in/calebnewquist/

Email us at ohmyfraud@earmarkcpe.com

Sources:

Common seadragon [Wikipedia]
List of impostors [Wikipedia]
Fictional impostors [Wikipedia]
National Safety Council of Australia [Wikipedia]
Ash Wednesday bushfires [Wikipedia]
John Friedrich (fraudster) [Wikipedia]
The Story of John Friedrich: The Great Imposter [Australian Crime Stories / True Crime TV]
Mr John FRIEDRICH Medal of the Order of Australia [Australian Government, Department of the Prime Minister and Cabinet]
Friedrich and Flanagan: the con-man and his ghostwriter [Conversations / ABC]
Richard Flanagan on lies, literature, and Australia’s greatest conman [The Guardian]

OMF at the Movies: The Informant!

Caleb Newquist — Wed, 16 Apr 2025 02:00:00 -0700

In this bonus episode, Caleb and his producer, Zach, discuss the 2009 film The Informant! Directed by Steven Soderbergh and starring Matt Damon, The Informant! is based on the true story of a 90s-era price fixing scheme involving the multinational food processing and commodities trading giant, Archer-Daniels Midland.

(00:00) - - Welcome to Oh My Fraud at the Movies
(02:45) - - Introduction to "The Informant" (2009)
(06:35) - - Plot Overview and Initial Setup
(12:45) - - The Price Fixing Scheme
(20:35) - - The FBI Investigation
(24:50) - - The Plot Twist
(34:30) - - The Outcome
(39:05) - - Connections to Other Fraud Cases
(42:20) - - Wrap-up and Final Thoughts

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Join Caleb and Greg live in New Jersey NJCPA Convention & Expo [NJCPA]

CONNECT WITH CALEB
Twitter: https://twitter.com/cnewquist
LinkedIn: https://www.linkedin.com/in/calebnewquist/

Email us at ohmyfraud@earmarkcpe.com

https://www.imdb.com/title/tt1130080/
https://en.wikipedia.org/wiki/The_Informant!

A Man of Fraud

Caleb Newquist — Wed, 09 Apr 2025 02:00:00 -0700

"A premiere true American...with integrity in all his pursuits.”

Sponsors
Routable - http://ohmyfraud.promo/routable
Rightworks Rightnow 2025 - https://ohmyfraud.promo/rightnow2025 (use code OMF15 for 15% OFF)

(00:00) - Introduction and CPE Credit Information
(01:30) - Welcome to Oh My Fraud
(02:34) - Listener's Confession
(06:15) - The Story of William Neil Gallagher Begins
(08:07) - The Rise of Gallagher Financial Group
(20:04) - The Investigation Begins
(21:19) - Uncovering the Ponzi Scheme
(26:52) - Gallagher's Downfall and Legal Consequences
(35:37) - The Aftermath and Lessons Learned
(42:55) - Conclusion and Final Thoughts

HOW TO EARN FREE CPE

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Android: https://play.google.com/store/apps/details?id=com.earmarkcpe.app

Join Caleb and Greg live in New Jersey NJCPA Convention & Expo [NJCPA]

CONNECT WITH CALEB
Twitter: https://twitter.com/cnewquist
LinkedIn: https://www.linkedin.com/in/calebnewquist/

Email us at ohmyfraud@earmarkcpe.com

Sources:

Cleansing of the Temple [Wikipedia]
Money Doctor Neil Gallagher Gets a Bad Checkup [D Magazine]
The Texas Preacher’s $24 Million Ponzi Scheme [Bloomberg]
The Money Doctor — Parts I and II [The Perfect Scam]
Securities and Exchange Commission v. William Neil "Doc" Gallagher, Gallagher Financial Group, Inc., and W. Neil Gallagher, Ph.D. Agency, Inc. [SEC]
Securities and Exchange Commission v. William Neil “Doc” Gallagher [PACER, Case 3:19-cv-00575-K, retrieved March 13, 2025, SEC]
One of D-FW’s best-known financial advisers is in Dallas County jail, with bail set at $1 million [Dallas Morning News]
Confession [The State of Texas v. William Neil Gallagher]
William Neil 'Doc' Gallagher: Sentenced to 25 Years, $10.3 Million Restitution [Texas State Securities Board]
13 things you need to know about Doc Gallagher, the Bernie Madoff of North Texas [Dallas Morning News]
A Christian talk show host promised to enrich clients. His Ponzi scheme bilked them out of millions. [Washington Post]
Now that prosecutors have put Doc Gallagher in prison for life, focus turns to his mistress [Dallas Morning News]
Mistress of "Doc" Gallagher Sentenced to Life in Prison [Tarrant County, Texas]
RECEIVER’S INITIAL STATUS REPORT AND FIRST QUARTERLY REPORT [GFG Receivership]
The Money Doctor [Bloomberg Investigates]
Gallagher Financial Group Receivership [GFG Receivership]

Sho Me the Money

Caleb Newquist — Wed, 26 Mar 2025 02:00:00 -0700

A baseball superstar winds up in the middle of a gambling scandal.

Sponsors
Routable - http://ohmyfraud.promo/routable
Rightworks Rightnow 2025 - https://ohmyfraud.promo/rightnow2025 (use code OMF15 for 15% OFF)

(00:00) - Introduction: The Legend of Shohei Ohtani
(00:34) - Earn CPE Credit with Earmark
(00:54) - Welcome to Oh My Fraud
(01:44) - Listener Email: Adding Machines
(03:04) - Upcoming Events and Announcements
(04:20) - The World of Illegal Gambling
(06:16) - Matthew Boyer's Descent into Gambling
(11:39) - Shohei Ohtani: A Baseball Prodigy
(14:40) - Ipe Mitsuhara: The Trusted Interpreter
(19:10) - The Scandal Unfolds
(31:33) - The Dark History of Gambling and Baseball
(36:22) - The Investigation and Legal Consequences
(38:11) - Lessons Learned: Trust is Not a Control
(42:06) - Conclusion and Final Thoughts

HOW TO EARN FREE CPE

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CONNECT WITH CALEB
Twitter: https://twitter.com/cnewquist
LinkedIn: https://www.linkedin.com/in/calebnewquist/

Email us at ohmyfraud@earmarkcpe.com

Sources

Meet the Fraudster Who Stole Millions from Alanis Morissette

Caleb Newquist — Wed, 12 Mar 2025 02:00:00 -0700

Jonathan Todd Schwartz was a heavyweight business manager to some of the biggest names in show business. But a crippling gambling addiction led to his embezzlement of millions of dollars from numerous clients, including the singer-songwriter Alanis Morissette. Jonathan tells Caleb about his rise in entertainment, how it all fell apart, and how he has been working to seek forgiveness and redemption.

Sponsors
Routable - http://ohmyfraud.promo/routable
Rightworks Rightnow 2025 - https://ohmyfraud.promo/rightnow2025 (use code OMF15 for 15% OFF)
Rho - http://ohmyfraud.promo/rho

(00:00) - Welcome to Oh My Fraud
(03:38) - Jonathan's Early Life and Family Background
(09:21) - College Years and Early Career
(13:40) - Breaking into the Entertainment Industry
(24:40) - Struggles with Addiction and Gambling
(35:44) - Six Years of Desperation
(44:08) - The Downfall Begins
(45:46) - Facing the Music: Lie Detector Test
(53:21) - Sentencing and Reflection
(56:35) - Life in Prison and Sobriety
(01:01:58) - Reentering Society
(01:05:18) - Making Amends and Moving Forward
(01:07:27) - Final Thoughts and Lessons Learned

Connect with Jonathan
Instagram: https://www.instagram.com/therealjonathanschwartz/

LinkedIn: https://www.linkedin.com/in/jonathan-todd-schwartz-58585b333/

Altus Rehab

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Twitter: https://twitter.com/cnewquist
LinkedIn: https://www.linkedin.com/in/calebnewquist/

Email us at ohmyfraud@earmarkcpe.com

See Greg and Caleb Live

NJCPA Convention & Expo [NJCPA]

Shownotes

The Defrauded Famous | Alanis Morissette and Kareem Abdul-Jabbar [Ep. 68]

Yale of a Fraud

Caleb Newquist — Wed, 26 Feb 2025 02:00:00 -0800

An elite medical school falls victim to an unexceptional scheme

Sponsors
Routable - http://ohmyfraud.promo/routable
Rightworks Rightnow 2025 - https://ohmyfraud.promo/rightnow2025 (use code OMF15 for 15% OFF)
Rho - http://ohmyfraud.promo/rho

(00:00) - A Suspicious Late Night at Work
(00:54) - Welcome to Oh My Fraud
(03:50) - Meet Jamie Patron: The Fraudster
(05:09) - Understanding Procurement and Its Loopholes
(07:48) - The Investigation Begins
(09:04) - The FBI's Findings and Jamie's Arrest
(17:15) - Jamie Patron's Lavish Lifestyle
(22:29) - Lessons Learned from the Fraud
(36:53) - Similar Cases and Final Thoughts
(42:23) - Wrap Up and Where to Reach Us

HOW TO EARN FREE CPE

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CONNECT WITH CALEB
Twitter: https://twitter.com/cnewquist
LinkedIn: https://www.linkedin.com/in/calebnewquist/

Email us at ohmyfraud@earmarkcpe.com

Sources:

Complaint [PACER Search, Case #3:22-cr-00061-VDO, Sept. 2, 2021]
Information: United States v. Jamie Petrone, [PACER Search, Case #3:22-cr-00061-VDO, March 28, 2022]
Yale Med School Employee Charged with Stealing and Selling Millions of Dollars in Computer Hardware [DOJ]
An administrator at Yale’s medical school is accused of stealing and reselling millions of dollars of computer equipment [Hartford Courant]
An administrator at Yale Medical School admits stealing and reselling tens of millions of dollars of school computer equipment [Hartford Courant]
Former Yale Med School Employee Pleads Guilty, Admits Stealing and Selling $40 Million in Electronics [DOJ]
Former Yale Official Admits to $40 Million Fraud Scheme [NYT]
Former Yale Med School Employee Who Stole $40 Million in Electronics Sentenced to 9 Years in Prison [DOJ]

Monkey Business at the Columbus Zoo

Caleb Newquist — Wed, 12 Feb 2025 02:00:00 -0800

A beloved zoo turns into a jungle of financial shenanigans.

Sponsors
Routable - http://ohmyfraud.promo/routable
Rightworks Rightnow 2025 - https://ohmyfraud.promo/rightnow2025 (use code OMF15 for 15% OFF)
TeamUp - http://ohmyfraud.promo/teamup

(00:00) - The Unexpected Source of Hot Tickets
(00:28) - CPE Credits and Podcast Introduction
(00:52) - Solo Hosting and Listener Review
(02:48) - Live Presentations and Webinars
(03:54) - History of Zoos in the United States
(05:23) - The Columbus Zoo's Troubled Past
(07:23) - Tom Stolf's Rise and Controversies
(13:22) - The Investigation Begins
(19:58) - Resignations and Legal Troubles
(28:06) - Forensic Audit and Further Revelations
(32:33) - Indictments and Guilty Pleas
(38:26) - Lessons Learned and Conclusion

HOW TO EARN FREE CPE

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Apple: https://apps.apple.com/us/app/earmark-cpe/id1562599728
Android: https://play.google.com/store/apps/details?id=com.earmarkcpe.app

CONNECT WITH CALEB
Twitter: https://twitter.com/cnewquist
LinkedIn: https://www.linkedin.com/in/calebnewquist/

Email us at ohmyfraud@earmarkcpe.com

Links:

NJCPA Convention & Expo [NJCPA]

Sources:

One Host, Endless Fraud

Caleb Newquist — Tue, 11 Feb 2025 18:00:00 -0800

Join Caleb Newquist as he discusses frauds great and small to understand the motives, methods, and impact of the occasionally hilarious but always devastating stories of betrayal and deceit.

Meet the Prosecutor-turned-Professor: Miriam Baer of Brooklyn Law

Caleb Newquist — Wed, 29 Jan 2025 02:00:00 -0800

Miriam Baer argues in her book that U.S. white collar crime statutes are doing a disservice to us all. She gives Caleb and Greg lots of examples of how this is, but before that she also tells the guys about her early law career working in Wilmington, Delaware, her time as a prosecutor in the Southern District of New York, why some frauds get prosecuted while others don’t, and a memorable story about her former classmate, Ted Cruz.

Sponsors
Routable - http://ohmyfraud.promo/routable
Rightworks Rightnow 2025 - https://ohmyfraud.promo/rightnow2025 (use code OMF15 for 15% OFF)
TeamUp - http://ohmyfraud.promo/teamup

(00:00) - Introduction and CPE Credit Information
(00:20) - Welcome to Oh My Fraud
(01:41) - Guest Introduction: Miriam Baer
(03:42) - Miriam Baer's Career Journey
(07:15) - Law School and Early Career
(12:33) - Prosecuting White Collar Crime
(21:47) - Sentencing Guidelines Explained
(31:04) - Post-9/11 and Compliance Work
(34:41) - Transition to Academia
(40:44) - Prosecutorial Decision-Making
(46:00) - Prototypes in Fraud Cases
(46:52) - Prosecutors' Challenges in Fraud Cases
(49:32) - Government's Approach to High-Profile Fraudsters
(53:06) - White Collar Statutes and Their Failures
(54:52) - Issues with Fraud Statutes and Data Collection
(01:01:09) - Over Criminalization vs. Under Enforcement
(01:03:48) - Examples of Over Criminalization and Under Enforcement
(01:10:15) - Final Thoughts and Personal Insights
(01:17:00) - Closing Remarks and Reflections

Connect with Miriam Baer
Miriam Baer, Bio [Brooklyn Law
https://www.linkedin.com/in/miriam-baer-733a84289

Miriam Baer, CV [Brooklyn Law]

Purchase Miriam's Book!
https://www.amazon.com/Myths-Misunderstandings-White-Collar-Crime-Miriam/dp/1009279807

HOW TO EARN FREE CPE

Download the app:

Apple: https://apps.apple.com/us/app/earmark-cpe/id1562599728
Android: https://play.google.com/store/apps/details?id=com.earmarkcpe.app

Questions? Need help? Email support@earmarkcpe.com.

CONNECT WITH THE HOSTS

Greg Kyte, CPA
Twitter: https://twitter.com/gregkyte
LinkedIn: https://www.linkedin.com/in/gregkyte/

Caleb Newquist
Twitter: https://twitter.com/cnewquist
LinkedIn: https://www.linkedin.com/in/calebnewquist/

Email us at ohmyfraud@earmarkcpe.com

Meet the Prosecutor-turned-Professor: Sam Buell of Duke Law

Caleb Newquist — Wed, 15 Jan 2025 02:00:00 -0800

At the beginning of his career, Sam Buell knew that he wanted to be a prosecutor in the Eastern District of New York where all manner of crime—everything from mob hits to human trafficking—was occurring. Caleb and Greg discuss Sam’s eventful career that took him from Whitey Bulger to the Enron case which set on the path to being an scholar on white collar crime.

Sponsors
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TeamUp - http://ohmyfraud.promo/teamup

(00:00) - Welcome to Oh My Fraud
(00:36) - Interview with Law Professor Sam Buell
(02:43) - Sam Buell's Early Life and Education
(04:39) - Career Beginnings and Law School
(06:54) - Prosecuting Organized Crime in New York
(21:07) - Whitey Bulger Case and Boston Move
(33:45) - Joining the Enron Task Force
(52:41) - The Psychology of Fraud: Groupthink and Incremental Deception
(01:02:30) - The Arthur Anderson Prosecution
(01:09:55) - The Trial and Aftermath: Lessons from the Anderson Case
(01:20:48) - Corporate Criminal Liability: The Broader Implications
(01:33:44) - The Impact of Sarbanes-Oxley: Successes and Failures
(01:37:43) - The Future of Corporate Regulation: Challenges and Surprises
(01:41:52) - Final Thoughts and Reflections

Connect with Sam Buel
Samuel W. Buell [Duke University School of Law]
https://www.linkedin.com/in/samuel-buell-1a7a7b124

Purchase Sam's Books
https://www.amazon.com/Capital-Offenses-Business-Punishment-Corporate/dp/039324783X
https://buelloncorporatecrime.com/

HOW TO EARN FREE CPE

Download the app:

Apple: https://apps.apple.com/us/app/earmark-cpe/id1562599728
Android: https://play.google.com/store/apps/details?id=com.earmarkcpe.app

Questions? Need help? Email support@earmarkcpe.com.

CONNECT WITH THE HOSTS

Greg Kyte, CPA
Twitter: https://twitter.com/gregkyte
LinkedIn: https://www.linkedin.com/in/gregkyte/

Caleb Newquist
Twitter: https://twitter.com/cnewquist
LinkedIn: https://www.linkedin.com/in/calebnewquist/

Email us at ohmyfraud@earmarkcpe.com

The Oh My Fraud 2024 Recap

Caleb Newquist — Wed, 01 Jan 2025 02:00:00 -0800

In this look back at 2024, the guys discuss their episodes, share updates to some stories, and discuss some upcoming changes to the podcast.

HOW TO EARN FREE CPE

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CONNECT WITH THE HOSTS

Greg Kyte, CPA
Twitter: https://twitter.com/gregkyte
LinkedIn: https://www.linkedin.com/in/gregkyte/

Caleb Newquist
Twitter: https://twitter.com/cnewquist
LinkedIn: https://www.linkedin.com/in/calebnewquist/

Email us at ohmyfraud@earmarkcpe.com

Sources:

Victims of a $7 Billion Fraud May Soon Be Paid. For Some, It’s Too Late. [NYT]

Ex-Jaguars employee who stole from team sues FanDuel for $250 million for "exploiting" his gambling addiction [CBS]

Ex-Jaguars employee who stole $22 million from team files lawsuit against FanDuel [The Athletic]

Former Dixon, Ill. comptroller Rita Crundwell, who embezzled $53 million, released from custody [CBS]

Cryptocurrency ‘pig butchering’ scam wrecks Kansas bank, sends ex-CEO to prison for 24 years [CNBC]

The Sheriff of Fraudingham

Caleb Newquist — Wed, 18 Dec 2024 02:00:00 -0800

In this episode recorded live for Moore North America’s member appreciation event, Caleb and Greg discuss the case of a sheriff in southern Indiana who had an unusual take on his duty to “serve and protect” his citizens.

Sponsors
Forwardly - https://ohmyfraud.promo/forwardly
Tabs - https://ohmyfraud.promo/tabs
Mercury - https://ohmyfraud.promo/mercury

(00:00) - Welcome to Oh My Fraud Podcast
(02:39) - Clark County, Indiana: Setting the Scene
(04:13) - Jamey Noel's Rise to Sheriff
(14:56) - Sheriff's Duties and Responsibilities
(19:45) - Scottie Maples Takes Over
(20:53) - Discovery of the Wiretap
(23:34) - Investigation and Misappropriations
(28:32) - Uncovering Jamey's Vehicle Transfer Scheme
(31:04) - The Simplest Fraud Ever?
(32:45) - Lavish Spending Spree
(34:53) - The Cuba Connection
(37:59) - Arrest and Bail Drama
(44:01) - Guilty Plea and Sentencing
(49:57) - Lessons Learned from the Case
(55:39) - Wrap-Up and How to Reach Us

HOW TO EARN FREE CPE

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Questions? Need help? Email support@earmarkcpe.com.

CONNECT WITH THE HOSTS

Greg Kyte, CPA
Twitter: https://twitter.com/gregkyte
LinkedIn: https://www.linkedin.com/in/gregkyte/

Caleb Newquist
Twitter: https://twitter.com/cnewquist
LinkedIn: https://www.linkedin.com/in/calebnewquist/

Email us at ohmyfraud@earmarkcpe.com

Sources:

Jamey Noel Kept Spending Thousands After His Corruption Arrest: Cops — Inside Edition

How a local sheriff allegedly stole millions — Inside Edition

'You tarnished the badge': Former IN sheriff Jamey Noel sentenced to 15 years in prison — Courier Journal

Disgraced former Indiana sheriff Jamey Noel pleads guilty to 27 felony charges — Indiana Capital Chronical

The rise and fall of Jamey Noel — and the top Indiana Republicans he knew along the way — Indiana Capital Chronical

Median household income Indiana U.S. 2023 — Statista

Statement on Jamey Noel — Clark County Sheriff’s Office

Free Money: The Legacy of Freedman’s Bank with Historian Justene Hill Edwards

Caleb Newquist — Wed, 04 Dec 2024 02:00:00 -0800

University of Virginia historian Justene Hill Edwards gave Caleb and Greg “a strong B” on their podcast episode about Freedman's Savings Bank. Nevertheless, they were eager to learn more about this Reconstruction Era fraud. Dr. Edwards’s new book, “Savings and Trust: The Rise and Betrayal of the Freedman’s Bank” tells the story in rigorous detail, the effects of which have repercussions to this day.

Sponsors
Tabs - https://ohmyfraud.promo/tabs
Forwardly - https://ohmyfraud.promo/forwardly
Mercury - https://ohmyfraud.promo/mercury

(00:00) - Welcome to Oh My Fraud
(03:38) - Recap of the Freedman's Bank Episode
(06:14) - Justene Hill Edwards' Background
(15:37) - The Origins of Freedman's Bank
(26:50) - Challenges and Expansion of Freedman's Bank
(35:33) - Corruption and Illegal Loans
(50:44) - The Puzzle of Banking: Balancing Loans and Deposits
(53:39) - The Lending Bonanza and Its Consequences
(54:26) - Edgar Ketchum's Confrontation with Cook
(57:03) - The Public Perception and Marketing of Freedman's Bank
(59:07) - The Panic of 1873 and Its Impact
(01:03:25) - Frederick Douglass Takes Charge
(01:11:09) - The Bank's Closure and Aftermath
(01:15:28) - Investigations and Lack of Accountability
(01:21:55) - The Legacy of Freedman's Bank
(01:30:27) - Final Thoughts and Reflections

Buy Justene's Books
https://www.amazon.com/Savings-Trust-Rise-Betrayal-Freedmans/dp/1324073853
https://www.amazon.com/Unfree-Markets-Capitalism-Carolina-Columbia/dp/0231191138

Connect with Justene
https://www.justenehilledwards.com
https://www.linkedin.com/in/justene-hill-edwards-ph-d-265111104

HOW TO EARN FREE CPE

Download the app:

Apple: https://apps.apple.com/us/app/earmark-cpe/id1562599728
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Questions? Need help? Email support@earmarkcpe.com.

CONNECT WITH THE HOSTS

Greg Kyte, CPA
Twitter: https://twitter.com/gregkyte
LinkedIn: https://www.linkedin.com/in/gregkyte/

Caleb Newquist
Twitter: https://twitter.com/cnewquist
LinkedIn: https://www.linkedin.com/in/calebnewquist/

Email us at ohmyfraud@earmarkcpe.com

The Freedman’s Bank Forum obscures the bank’s real history [Washington Post]

Savings and Trust: The Rise and Betrayal of the Freedman's Bank [W.W. Norton]

Justene Hill Edwards Interview: Unveiling America's Roots & Lincoln's Legacy [YouTube]

The Road to Fraud Is Paved With Good Intentions | The Case of Freedman’s Bank [OMF, Ep. 51]

Stupid Is as Fraud Does

Caleb Newquist — Wed, 20 Nov 2024 02:00:00 -0800

They can’t all be criminal masterminds. Caleb and Greg discuss four stories of fraud gone absurdly wrong.

Sponsors
Forwardly - https://ohmyfraud.promo/forwardly
Tabs - https://ohmyfraud.promo/tabs
Artiffex - https://ohmyfraud.promo/artiffex

(00:00) - Infinite Stupidity Quotes
(00:56) - Welcome to Oh My Fraud
(04:49) - Hialeah, Florida: Fun Facts and Fraud
(08:29) - Medicare Fraud Case: Ernesto Cruz Graveron
(21:08) - Cheltenham, England: A New Debit Card
(23:25) - The Mysterious Ladbrokes Deposit
(29:16) - The Stolen Debit Card
(32:37) - The Bugatti Veyron Incident
(43:09) - The Fake Night Deposit Box
(53:30) - Lessons Learned and Where to Reach Us

HOW TO EARN FREE CPE

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Apple: https://apps.apple.com/us/app/earmark-cpe/id1562599728
Android: https://play.google.com/store/apps/details?id=com.earmarkcpe.app

Questions? Need help? Email support@earmarkcpe.com.

CONNECT WITH THE HOSTS

Greg Kyte, CPA
Twitter: https://twitter.com/gregkyte
LinkedIn: https://www.linkedin.com/in/gregkyte/

Caleb Newquist
Twitter: https://twitter.com/cnewquist
LinkedIn: https://www.linkedin.com/in/calebnewquist/

Email us at ohmyfraud@earmarkcpe.com

Sources:
Crime pays for theft victim — BBC

The World’s Dumbest Fraudsters — Journal of Accountancy

Police nab suspect in bank deposit box scam — Tampa Bay Times

Inside the mind of criminals: How to brazenly steal $100 billion from Medicare and Medicaid [CNBC]

NHE Fact Sheet [CMS]

Durable medical equipment (DME) coverage [Medicare.gov]

Alleged Health Care Fraudster Ordered Detained Pending Trial After Being Arrested on a Jet Ski Headed Toward Cuba [DOJ]

Officials: Fraud suspect caught heading to Cuba on Jet Ski [AP]

Bugatti Veyron [Wikipedia]

$1.6 Million Bugatti Veyron Crashes Into Texas Lake [Jalopnik]

Bugatti Veyron Lake Crash-- Original Video- 1st hand account [YouTube]

EXCLUSIVE: Bugatti Lake Crash Owner Buys Replacement $1.5 Million Veyron [Jalopnik]

Trial Of Man Sued For 'Purposefully' Crashing Bugatti Veyron Into Lagoon Mysteriously Postponed [Jalopnik]

Angelina County Man Guilty In Wire Fraud Scheme [DOJ]

Lufkin man gets 1 year prison for false insurance claim in Bugatti case [KTRE]

Man who crashed Bugatti into a lake is headed to federal prison [Houston Chronicle]

Financial Foul Play: A True Tale from Greg’s Workplace

Caleb Newquist — Wed, 06 Nov 2024 02:00:00 -0800

In this special episode, Caleb interviews Greg about a tricky situation he encountered early in his career as an accountant.

Sponsors
Tabs - https://ohmyfraud.promo/tabs
Forwardly - https://ohmyfraud.promo/forwardly
Artiffex - https://ohmyfraud.promo/artiffex

(00:00) - Welcome to Oh My Fraud
(00:37) - Listener Reviews and Ethical Dilemmas
(04:26) - Greg's Career Background
(05:32) - First Job and QuickBooks Training
(09:31) - The Client's Business and Management
(16:06) - Discovering Financial Irregularities
(18:24) - The Mysterious Loan
(25:39) - Checks and Balances
(35:29) - Firm's Response and Ethical Concerns
(40:46) - The Big Hairy Loan
(44:06) - Transition to In-House CPA
(47:09) - Monitoring the Loan
(50:24) - Revealing the Loan to the Board
(53:57) - Board's Reaction and Consequences
(01:07:55) - "John Bolton's" Hardball Tactics
(01:13:33) - Final Resolution and Aftermath
(01:20:10) - Lessons Learned and Reflections

HOW TO EARN FREE CPE

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Greg Kyte, CPA
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LinkedIn: https://www.linkedin.com/in/gregkyte/

Caleb Newquist
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LinkedIn: https://www.linkedin.com/in/calebnewquist/

Email us at ohmyfraud@earmarkcpe.com

Burned by Solar

Caleb Newquist — Wed, 23 Oct 2024 02:00:00 -0700

In the era of climate change, it isn’t just about saving the planet using sustainable methods of energy, it’s about making a fortune from sustainable methods of energy. In this episode, Caleb and Greg discuss the story of DC Solar, a manufacturer of mobile solar generators.

Sponsors
Forwardly - https://ohmyfraud.promo/forwardly
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(00:00) - Introduction to the Unlikely Innovator
(01:00) - Listener Reviews and Reactions
(02:16) - Jeff Karpoff's Early Life and Struggles
(09:19) - The Birth of DC Solar
(12:27) - The Solar Eclipse Generator
(13:36) - Hollywood's Interest and Initial Success
(25:21) - Cracks in the Business Model
(29:30) - The Ponzi Scheme Unveiled
(30:58) - Jeff Karpoff's Extravagant Lifestyle
(32:47) - NASCAR Sponsorship and DC Solar's Rise
(35:18) - The IRS and Investor Scrutiny
(36:29) - Bogus Reports and Fake Leases
(38:18) - Massive Deals and Manufacturing Issues
(39:49) - Fraudulent Practices Unveiled
(53:02) - The Whistleblower and Legal Consequences
(56:57) - The Aftermath and Loose Ends
(58:30) - Lessons Learned and Final Thoughts

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Greg Kyte, CPA
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Caleb Newquist
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LinkedIn: https://www.linkedin.com/in/calebnewquist/

Email us at ohmyfraud@earmarkcpe.com

Sources:

Airbusted

Caleb Newquist — Wed, 09 Oct 2024 02:00:00 -0700

If you’re one of those cynical people who assumes that multinational corporations are deeply corrupt and only concerned with achieving global domination no matter the cost, then this episode is for you. Caleb and Greg discuss a case of international bribery, the likes of which the world had never seen.

Sponsors
Tabs - https://ohmyfraud.promo/tabs
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(00:00) - Welcome to Oh My Fraud
(02:34) - Airbus and the Watergate Connection
(11:02) - The Birth of Airbus and Its Rise
(13:51) - Airbus Self-Reports Bribery Scandal
(18:24) - The Mechanics of Airbus Bribery
(20:22) - Deferred Prosecution and Bribery ROI
(22:38) - Airbus Bribery Scandals Unveiled
(25:59) - Airbus' Self-Reporting and Consequences
(27:36) - The Global Investigation and Fines
(31:27) - Bribery vs. Marketing: A Blurred Line
(41:49) - The Largest Bribery Case in History
(42:49) - Closing Thoughts and Where to Find Us

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CONNECT WITH THE HOSTS

Greg Kyte, CPA
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LinkedIn: https://www.linkedin.com/in/gregkyte/

Caleb Newquist
Twitter: https://twitter.com/cnewquist
LinkedIn: https://www.linkedin.com/in/calebnewquist/

Email us at ohmyfraud@earmarkcpe.com

Sources:

How the Foreign Corrupt Practices Act Came to Be — Corporate Compliance Insights
Early days (1967) — Airbus
History of Airbus S.A.S. — Britannica
Airbus to pay record £3bn in fines for 'endemic' corruption — The Guardian
Airbus to Pay $4 Billion to Settle Corruption Inquiry — NYT
Airbus to pay SFO €1bn in corruption settlement — BBC
Airbus enters into a coordinated resolution of foreign bribery investigation with US UK and French authorities for a total of 36 billion - Mondaq
Airbus Agrees to Pay over $3.9 Billion in Global Penalties to Resolve Foreign Bribery and ITAR Case — DOJ
Four Years and Almost $4 Billion: Airbus Corruption Investigations End with Sky-High Fine — Ropes & Gray LLC

Meet the Fraud Investigator: Kelly Paxton

Caleb Newquist — Wed, 25 Sep 2024 02:00:00 -0700

Caleb and Greg welcome Kelly Paxton, a former fraud investigator who has worked at both the federal and local level to talk about her career and one of her favorite red collar crime stories.

Sponsors
SafeSend - https://ohmyfraud.promo/safesend
MakersHub - https://ohmyfraud.promo/makershub
interVal - https://ohmyfraud.promo/interval

(00:00) - Welcome to Oh My Fraud Podcast
(03:47) - Kelly Paxton's Background and Career
(06:52) - Kelly's Experience with U.S. Customs
(12:18) - Pink Collar Crime and Gender Dynamics
(21:42) - Podcasting Journey and Fraudish
(23:06) - Favorite Fraud Cases: Lori Eisenberg
(35:04) - The Benadryl Plot Unfolds
(39:37) - Embezzlement and Lifestyle Creep
(54:44) - Sentencing Discrepancies and Legal Insights
(01:01:26) - Final Thoughts

Questions? Need help? Email support@earmarkcpe.com.

Buy Kelly's Book!
https://www.amazon.com/Embezzlement-Detect-Prevent-Investigate-Pink-Collar/dp/B08QBYKJR1

CONNECT WITH KELLY
https://kellypaxton.com
LinkedIn: https://www.linkedin.com/in/kellypaxton
X: https://x.com/pdxcfe

CONNECT WITH THE HOSTS

Greg Kyte, CPA
X: https://twitter.com/gregkyte
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LinkedIn: https://www.linkedin.com/in/calebnewquist/

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For Whom the Fraud Tolls | Bell, California

Caleb Newquist — Wed, 11 Sep 2024 02:00:00 -0700

Caleb and Greg discuss the case of a small California city tainted by big corruption.

Sponsors
SafeSend - https://ohmyfraud.promo/safesend
The Small Business Research Institute - https://ohmyfraud.promo/ceanow
interVal - https://ohmyfraud.promo/interval

(00:00) - Introduction to Bell, California
(01:38) - Discussing Salaries in the Accounting Profession
(07:02) - The Rise of Robert Rizzo
(13:22) - Rizzo's Cost-Cutting Measures
(21:50) - Rizzo's Controversial Salary Increases
(28:11) - Investigations and Comparisons
(33:59) - Controversial Salaries Defended
(35:56) - Community Outrage and Resignations
(36:26) - Legal Actions and Arrests
(38:39) - Unauthorized Loans and Misappropriations
(44:51) - Absentee Ballots and Voter Fraud
(50:13) - Trials and Pleas
(01:00:17) - Lessons learned
(01:07:44) - Fraud Discovery and Media's Role

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CONNECT WITH THE HOSTS

Greg Kyte, CPA
Twitter: https://twitter.com/gregkyte
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Caleb Newquist
Twitter: https://twitter.com/cnewquist
LinkedIn: https://www.linkedin.com/in/calebnewquist/

Email us at ohmyfraud@earmarkcpe.com

Sources:

Bell, California [Wikipedia]
City of Bell scandal [Wikipedia]
Bell (city), California [US Census Bureau]
BELL : City OKs Rizzo as Administrative Head [LAT]
In Maywood, a quiet changing of the guard [LAT]
Is a city manager worth $800,000? [LAT]
10 YEARS AFTER THE BELL SCANDAL ARE WE MORE ETHICAL? [League of California Cities]
D.A. investigating why Bell council members get nearly $100,000 a year for a part-time job [LAT]
Bell council used little-noticed ballot measure to skirt state salary limits [LAT]
Californians Protest City Manager’s $800,000 Salary [Bloomberg]
Bell leaders hauled off in cuffs [LAT]
California’s Bell Used as ‘Cash Drawer,’ Chiang Says [Bloomberg]
How Bell hit bottom [LAT]
California city manager's pension could top $30 million [Reuters]
Bell officials won't receive massive pensions [ABC7]
Differing views of CA official: Crook or victim? [AP]
Bell corruption trial: Mixed verdicts, 1 ex-councilman acquitted [LAT]
Bell corruption verdicts, charges [LAT]
Photos: Arrests in Bell [LAT]
Five Former Bell Officials Accept Plea Deal In Corruption Case [CBSLA]
Robert Rizzo blames assistant for Bell corruption, gets prison [LAT]
In Spaccia defense, a simple premise: Her high pay wasn’t a crime [LAT]
Former Chief Administrative Officer For City Of Bell Agrees To Plead Guilty To Conspiracy And Tax Charges In Plot To Avoid Income Taxes [DOJ]
Bell corruption case ends, last defendant gets a year in jail [LAT]
Former Chief Administrative Officer For City Of Bell Sentenced To Federal Prison For Cheating IRS To Avoid Taxes On Corrupt Activities [DOJ]
Bell must give up $2.9 million in illegal property taxes [LAT]
California Board of Accountancy Update Fall 2012 [CBA]

The Defrauded Famous | Alanis Morissette and Kareem Abdul-Jabbar

Caleb Newquist — Wed, 28 Aug 2024 02:00:00 -0700

If you’re jonesing for some nostalgia, then this is the Oh My Fraud episode for you. Caleb and Greg discuss two stars—an athlete whose fame peaked in the 80s and a singer-songwriter who put out one of the biggest selling albums of the 90s—who helped define their respective decades. Unfortunately, their wild success also made them targets of people they trusted to help manage that success.

Sponsors
SafeSend - https://ohmyfraud.promo/safesend
The Small Business Research Institute - https://ohmyfraud.promo/ceanow
Genwise - https://ohmyfraud.promo/genwise

(00:00) - Kareem Abdul Jabbar's Rumored Investment Fiasco
(01:07) - This is Oh My Fraud
(02:54) - Caleb and Greg's High School Music and Sports Dreams
(07:12) - The Celebrity: Alanis Morissette
(16:58) - Financial Mismanagement and Fraud Uncovered
(28:13) - Jonathan Schwartz's Legal Troubles
(29:43) - Alanis Morissette's Response
(29:58) - The Celebrity: Kareem Abdul-Jabbar
(35:50) - The Downfall of Tom Collins
(46:52) - Lessons Learned
(57:16) - Conclusion and Final Thoughts

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CONNECT WITH THE HOSTS

Greg Kyte, CPA
Twitter: https://twitter.com/gregkyte
LinkedIn: https://www.linkedin.com/in/gregkyte/

Caleb Newquist
Twitter: https://twitter.com/cnewquist
LinkedIn: https://www.linkedin.com/in/calebnewquist/

Email us at ohmyfraud@earmarkcpe.com

Sources:

Alanis Morissette

Kareem Abdul-Jabbar

Kareem Abdul-Jabbar — Wikipedia
$55-Million Action Alleges Financial Mismanagment : Abdul-Jabbar Sues Former Manager — Los Angeles Times
A LOT OF HURT — Sports Illustrated
Did Kareem-Abdul Jabbar Really Lose Millions Building Special Hotels for Tall People? — Sports Legends Revealed

Cardinal Sins

Caleb Newquist — Wed, 14 Aug 2024 02:00:00 -0700

What do the Catholic Church and Oh My Fraud have in common? They both regularly feature absent internal controls, important figures abusing their positions of trust, and are run by people who drink wine on the job. In this episode, Caleb and Greg chronicle the story of a high-ranking cardinal who wound up in a convoluted real estate deal.

Sponsors
The Small Business Research Institute - https://ohmyfraud.promo/ceanow
Genwise - https://ohmyfraud.promo/genwise

(00:00) - The Catholic Church Loves Real Estate
(01:27) - Welcome to 'Oh My Fraud' Podcast
(01:54) - Listener Email and Show Themes
(03:15) - Fraud in the Catholic Church
(08:59) - Understanding Simony and Priestly Fraud
(14:28) - Historical Context of the Catholic Church
(18:45) - The Vatican's Real Estate Ventures
(22:08) - The Italian Connection: Gianluigi Torzi
(24:05) - Torzi's Bold Extortion Scheme
(26:57) - The Aftermath: Arrests and Losses
(30:14) - Cardinal Becciu's Questionable Transactions
(32:45) - The Trial and Sentencing
(35:54) - Lessons Learned: No One is Above Scrutiny
(44:44) - Conclusion and Final Thoughts

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CONNECT WITH THE HOSTS

Greg Kyte, CPA
Twitter: https://twitter.com/gregkyte
LinkedIn: https://www.linkedin.com/in/gregkyte/

Caleb Newquist
Twitter: https://twitter.com/cnewquist
LinkedIn: https://www.linkedin.com/in/calebnewquist/

Email us at ohmyfraud@earmarkcpe.com

Sources:

Giovanni Angelo Becciu — Wikipedia

Cardinal Becciu Convicted: Six Things to Know About the Prelate and His Trial — National Catholic Register

A cardinal is convicted of embezzlement and sentenced to 5 1/2 years in Vatican trial — NPR

Cardinal Becciu Speaks of ‘Drawing Up a Balance Sheet’ of One’s Life Before God in Homily — National Catholic Register

The Vatican, a Chelsea property deal and Brexit — Financial Times

How the Vatican plans to make and spend its money in 2022—and be more transparent about it — America Magazine

Cardinal convicted of fraud in Vatican court case protests his innocence - Financial Times

A brief history of the Vatican’s London financial scandal — The Pillar

Why priests steal — researchers look to ‘fraud triangle’ in parish life — The Pillar

Parolin pressured Vatican bank over London building deal — The Pilar

Cardinal convicted of embezzlement in landmark Vatican court case — Financial Times

Paper Empire | The Case of Equity Funding Corporation of America

Caleb Newquist — Wed, 31 Jul 2024 02:00:00 -0700

Join Caleb and Greg on a twisting saga of an insurance company that began in the late 1950s, rose to spectacular heights in the 1960s, and came crashing down in the 1970s.

Sponsors
The Small Business Research Institute - https://ohmyfraud.promo/ceanow
Bean - https://ohmyfraud.promo/bean

(00:00) - With Friends Like These Who Needs Enemies
(01:34) - Life Insurance Policies
(05:20) - Case Introduction: Equity Funding Corporation
(06:55) - The Rise of Equity Funding
(15:35) - Innovative Financial Products
(24:57) - Expansion and Acquisitions
(27:13) - Tragedy Strikes
(36:18) - The Beginning of Fraudulent Activities
(38:27) - Insurance Company Schemes Unveiled
(45:14) - The Maple Drive Gang and Auditor Deception
(46:30) - The Downfall Begins
(48:01) - Raymond Dirks and the Unraveling of Equity Funding
(55:34) - The SEC Steps In and Trading Suspended
(58:57) - Legal Consequences and Sentencing
(01:05:51) - Reflections and Lessons Learned
(01:12:19) - Final Thoughts and Fun Facts

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CONNECT WITH THE HOSTS

Greg Kyte, CPA
Twitter: https://twitter.com/gregkyte
LinkedIn: https://www.linkedin.com/in/gregkyte/

Caleb Newquist
Twitter: https://twitter.com/cnewquist
LinkedIn: https://www.linkedin.com/in/calebnewquist/

Email us at ohmyfraud@earmarkcpe.com

Sources:

INSURANCE FRAUD CHARGED BY S.E.C. TO EQUITY FUNDING [NYT]
Associates Find Goldblum Is Not Too Easy to Know [NYT]
22 INDICTED BY U.S. IN EQUITY SCANDAL [NYT]
GOLDBLUM ENTERS EQUITY GUILT PLEA [NYT]
Dirks, Who Uncovered Fraud At Equity, Is ‘Gratified’ by Plea [NYT]
Goldblum Among 6 Sentenced To Jail in Equity Funding Case [NYT]
12 More Ex‐Officials of Equity Funding Sentenced [NYT]
$57 Million Tentative Settlement Drafted in Equity Funding Fraud [NYT]
Flory, Steven M. and Cooper, Kerry (1976) "Equity Funding: The Profession Reacts," Woman C.P.A.: Vol. 38: Iss. 3, Article 4.
Contemporary Auditing Issues and Cases, by Michael C. Knapp. Case 5.6 Equity Funding Corporation of America
Soble, Ronald L. and Dallos, Robert E. (1975) “The Impossible Dream.”
Flory, Steven M. and Cooper, Kerry (1976) "Equity Funding: The Profession Reacts," Woman C.P.A.: Vol. 38: Iss. 3, Article 4.
Seidler, Lee J., Andrews, Frederick, Epstein, Marc J. (1977) “The Equity Funding Papers: The Anatomy of a Fraud.”
Dirks v. SEC, 463 U.S. 646 (1983) [Justia]

Raymond Dirks, Whose Tipster Case Redefined Insider Trading, Dies at 89 [NYT]

Pyramid Schemes: How to Lose Friends and Alienate Money

Caleb Newquist — Wed, 17 Jul 2024 02:00:00 -0700

You’ve probably heard of pyramid schemes, but are you confident that you know what it is? And if you are, do you know the difference between them and multi-level marketing companies? Or Ponzi schemes? In this episode, Caleb and Greg discuss all that and more about one of the simplest and most common frauds around.

Sponsors
MakersHub- https://ohmyfraud.promo/makershub
RightRev - https://ohmyfraud.promo/rightrev
Bean - https://ohmyfraud.promo/bean

(00:00) - Introduction to Pyramid Schemes
(01:01) - Welcome to Oh My Fraud
(02:00) - Caleb's Personal Experiences with MLMs
(07:32) - Understanding Pyramid Schemes
(09:45) - Ponzi Schemes Explained
(17:12) - Multi-Level Marketing Companies
(22:10) - NuSkin: A Case Study
(30:11) - Introduction to Blessings in No Time
(34:24) - Personal Experience with a Pyramid Scheme
(51:40) - Conclusion and Takeaways

HOW TO EARN FREE CPE

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CONNECT WITH THE HOSTS

Greg Kyte, CPA
Twitter: https://twitter.com/gregkyte
LinkedIn: https://www.linkedin.com/in/gregkyte/

Caleb Newquist
Twitter: https://twitter.com/cnewquist
LinkedIn: https://www.linkedin.com/in/calebnewquist/

Email us at ohmyfraud@earmarkcpe.com

Sources:
The history of pyramid schemes and their evolution over time — Medium

Pyramid scheme — Wikipedia

MLMs vs. Pyramid Schemes: One Is Legal, But the Other Could Land You in Prison — Coolidge Law Firm

The Case (for and) against Multi-level Marketing — FTC

Get-Rich-Quick Profiteers Love Mitt Romney, and He Loves Them Back — Mother Jones

Couple Charged for Operating Multimillion-Dollar Pyramid Scheme — DOJ

Bernie Madoff and how to identify a Ponzi scheme. — Metis Ireland

Tupperware once changed women's lives. Now it struggles to survive — NPR

What Is Multi-Level Marketing? — Forbes

Don’t Fall Victim to the False Promises of MLMs. - The Daily Utah Chronicle

Prosper DJ, wife ordered to pay $10.7 million for pyramid scheme targeting black investors — Dallas Morning News

We’re Not a Bank in Kansas Anymore

Caleb Newquist — Wed, 03 Jul 2024 02:00:00 -0700

Legend has it that when asked why he robbed banks, the infamous 20th century bank robber Willie Sutton said, “Because that’s where the money is.” In the 21st century, banks still have the money, but the approach to robbing has changed considerably. Caleb and Greg discuss one such case that features astonishingly deceitful methods.

Sponsors
MakersHub- https://ohmyfraud.promo/makershub
RightRev - https://ohmyfraud.promo/rightrev
Blue Onion - https://ohmyfraud.promo/blueonion

(00:00) - A Bank Robbery in Elkhart
(01:06) - Meet Your Hosts: Caleb and Greg
(02:04) - Listener Reviews: The Good, The Bad, and The Ugly
(04:24) - Greg's Major Work Screw-Up
(12:19) - Welcome to Elkhart Kansas
(18:28) - The Rise and Fall of Heartland Tri-State Bank
(25:52) - Unveiling the Pig Butchering Scam
(26:47) - What is Pig Butchering?
(33:29) - The Bank CEO's Desperate Gamble
(41:39) - The Aftermath and Investigation
(51:32) - Shan Hanes Charged
(54:45) - Lessons Learned and Final Thoughts

HOW TO EARN FREE CPE

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CONNECT WITH THE HOSTS

Greg Kyte, CPA
Twitter: https://twitter.com/gregkyte
LinkedIn: https://www.linkedin.com/in/gregkyte/

Caleb Newquist
Twitter: https://twitter.com/cnewquist
LinkedIn: https://www.linkedin.com/in/calebnewquist/

Email us at ohmyfraud@earmarkcpe.com

Sources:

Cimarron National Grassland [NPS]
Santa Fe National Historic Trail [NPS]
Dust storm. Elkhart, Kansas [Library of Congress]
Map of states and counties affected by the Dust Bowl between 1935 and 1938, originally prepared by the Soil Conservation Service. [Wikipedia]
What took down this Kansas bank? It’s a secret, but what saved depositors isn’t. [Kansas Reflector]
A $12 Million Request to Cover a Crypto Scam Sank a Bank CEO [Bloomberg]
Testimony of: Shan Hanes before the Senate Committee on Financial Institutions and Insurance regarding Providing Equal Opportunity to Credit for Kansas [January 19, 2021]
‘Huge scam’ in rural Kansas town fells fourth U.S. bank in 2023 [Kansas Reflector]
Shan Hanes Bio [U.S. Congress]
A bank failure shattered trust in this Kansas town. Only honest talk will heal it. [Kansas Reflector]
Dream First Bank, National Association, of Syracuse, Kansas, Assumes All of the Deposits of Heartland Tri-State Bank of Elkhart, Kansas [FDIC]
HEARINGS BEFORE THE SUBCOMMITTEE ON COMMODITY EXCHANGES, ENERGY, AND CREDIT OF THE COMMITTEE ON AGRICULTURE HOUSE OF REPRESENTATIVES ONE HUNDRED SIXTEENTH CONGRESS [Nov 19, 2019; Dec. 11, 2019]
‘Huge scam’ in rural Kansas town fells fourth U.S. bank in 2023 [Kansas Reflector]
FinCEN Alert on Prevalent Virtual Currency Investment Scam Commonly Known as “Pig Butchering” [FinCEN]
Former Kansas bank executive charged with embezzling $47 million [DOJ]
Fmr. executive pleads guilty after losing bank’s $47.1 million in crypto scheme [DOJ]
Failed Bank Information for Heartland Tri-State Bank, Elkhart, KS [FDIC]
Heartland Tri-State Bank - Elkhart, KS Frequently Asked Questions [FDIC]
Material Loss Review of Heartland Tri-State Bank [OIG FRB CFPB]
Material Loss Review of Heartland Tri-State Bank Evaluation Report [OIG FRB CFPB]
Former Kansas bank executive charged with embezzling $47 million [DOJ]
Fmr. executive pleads guilty after losing bank’s $47.1 million in crypto scheme [DOJ]
Pig Butchering Scams: Last Week Tonight with John Oliver (HBO) [YouTube]

Meet the Cybersecurity Scholar: Riana Pfefferkorn of Stanford University

Caleb Newquist — Wed, 19 Jun 2024 02:00:00 -0700

As a co-teacher of Stanford University’s Introduction to Cybersecurity course, Riana Pfefferkorn regularly had to guide enterprising students away from violating the law. And it was one of those laws, the federal wire fraud statute, that initially caused her to connect with Caleb and Greg. In this conversation, the three of them discuss Jeff Skilling, cybersecurity, hacker movies, and more.

Sponsors
MakersHub- https://ohmyfraud.promo/makershub
RightRev - https://ohmyfraud.promo/rightrev
Settle - https://ohmyfraud.promo/settle

HOW TO EARN FREE CPE

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CONNECT WITH RIANNA
Rianna Pfefferkorn [LinkedIn]
https://cyberlaw.stanford.edu/about/people/riana-pfefferkorn

CONNECT WITH THE HOSTS

Greg Kyte, CPA
Twitter: https://twitter.com/gregkyte
LinkedIn: https://www.linkedin.com/in/gregkyte/

Caleb Newquist
Twitter: https://twitter.com/cnewquist
LinkedIn: https://www.linkedin.com/in/calebnewquist/

Email us at ohmyfraud@earmarkcpe.com

Sources:

Stanford University Institute for Human-Centerd Artificial Intelligence

Hack Lab: Introduction to Cybersecurity [Stanford Law School]

Riana Pfefferkorn, Shooting the Messenger: Remediation of Disclosed Vulnerabilities as CFAA “Loss” [Richmond Journal of Law & Technology]

Skilling v. United States [Wikipedia]

The Jacksonville Jaguars Employee Who Went All In on Fraud

Caleb Newquist — Wed, 05 Jun 2024 02:00:00 -0700

Gambling is often a factor when a person perpetrates a fraud, sometimes to a shocking degree. Caleb and Greg discuss one such case involving a finance professional who went to extraordinary lengths to change his bad luck.

Sponsors
MakersHub- https://ohmyfraud.promo/makershub
RightRev - https://ohmyfraud.promo/rightrev
Settle - https://ohmyfraud.promo/settle

HOW TO EARN FREE CPE

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Questions? Need help? Email support@earmarkcpe.com.

CONNECT WITH THE HOSTS

Greg Kyte, CPA
Twitter: https://twitter.com/gregkyte
LinkedIn: https://www.linkedin.com/in/gregkyte/

Caleb Newquist
Twitter: https://twitter.com/cnewquist
LinkedIn: https://www.linkedin.com/in/calebnewquist/

Email us at ohmyfraud@earmarkcpe.com

1-800-GAMBLER is the phone number for the National Problem Gambling Helpline. It serves as a resource for individuals who may be struggling with problem gambling or gambling addiction, or their loved ones.

Sources:

How one ‘super basic’ man stole $22M from his hometown Jaguars and became ‘the biggest loser ever on FanDuel’ — News4JAX

Private jets, gambling and a Trevor Lawrence jersey: A detailed look at what Amit Patel paid for with stolen Jags money — News4JAX

The Jaguars’ $22 million question: How did four years of theft go undetected? — New York Times

Ex-Jaguars employee Amit Patel sentenced to prison for fraud — ESPN

Ex-Jags employee gambled with company card at former job — ESPN

Middle District of Florida | Former Jacksonville Jaguars Employee Sentenced To More Than Six Years For Embezzling In Excess Of $22 Million — DOJ

Trevor Lawrence — Spotrac.com

(00:00) - Every Kid Dreams of Becoming a Professional Athlete
(01:16) - Listener Shoutouts and Reviews
(02:54) - Personal Anecdotes on Homeownership
(07:42) - Introducing Amit Patel's Story
(08:47) - Amit Patel's Gambling and Career
(13:14) - Amit Patel's is Hired By The Jacksonville Jaguars
(22:20) - Amit's Fraudulent Scheme Unveiled
(22:35) - Duplicating Transactions for Personal Gain
(23:44) - Extravagant Purchases with Stolen Money
(26:12) - Living a Double Life
(29:59) - Caught by FanDuel
(33:46) - Legal Consequences and Sentencing
(35:15) - Lessons Learned and Final Thoughts
(44:19) - Outro and Contact Information

More Pandemic Pillagers Got What They Had Coming

Caleb Newquist — Wed, 22 May 2024 02:00:00 -0700

More than four years after the COVID-19 pandemic began, stories of regular people and their ill-fated schemes to exploit pandemic aid programs continue to emerge. In this episode, Caleb and Greg discuss some of the cases featured in the 2024 COVID-19 Fraud Enforcement Task Force Report.

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Greg Kyte, CPA
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Caleb Newquist
Twitter: https://twitter.com/cnewquist
LinkedIn: https://www.linkedin.com/in/calebnewquist/

Email us at ohmyfraud@earmarkcpe.com

Sources:

COVID-19 FRAUD ENFORCEMENT TASK FORCE 2024 REPORT [DOJ]
How to Catch Pandemic Fraud? Prosecutors Try Novel Methods. [NYT]

Maryland

Prince George’s County Man Pleads Guilty to a Federal Wire Fraud Conspiracy to Obtain Over $750,000 in COVID-19 CARES Act Loans and Unemployment Insurance Benefits [DOJ]
Prince George’s County Man Pleads Guilty To A Federal Wire Fraud Conspiracy To Obtain Over $1 Million In Covid-19 Cares Act Loans And Unemployment Insurance Benefits [DOJ]
Prince George’s County Man Sentenced to Seven Years in Federal Prison for a Conspiracy to Obtain Over $1 Million in COVID-19 CARES Act Loans and Unemployment Insurance Benefits [DOJ]

Florida

Seventeen Broward Sheriff’s Office Employees Charged with COVID-19 Pandemic Relief Fraud [DOJ]
Broward Sheriff’s Office deputy convicted at trial of COVID-19 relief fraud [DOJ]
Florida Deputies Charged With Defrauding Covid Funds of Nearly $500,000 [NYT]
Former Broward Sheriff’s Office deputy sentenced for Paycheck Protection Program fraud [Local10]
South Florida Man Sentenced to Prison for Covid-19 Relief Fraud, After Buying Jewelry and Luxury Cars with Loan Money [DOJ]
Miami woman sentenced to 70 months in prison after using COVID-19 funds to gamble and launder money [DOJ]

Alpaca Farm

Former North Shore Pizzeria Owner Sentenced to Two Years in Prison for COVID Fraud [DOJ]
Man Gets 2 Years in Prison for Spending Pandemic Money on Alpaca Farm [NYT]

Final

New Jersey Tax Preparer Charged in COVID-19 Employment Tax Credit Scheme [DOJ]
CFO, Controller, Corporate Officers Charged in $53 Million Fraud Scheme Involving Pandemic Relief [DOJ]
Former Florida State Representative Sentenced To Federal Prison For Wire Fraud, Money Laundering, And Making False Statements In Connection With COVID-19 Relief Fraud [DOJ]

We’re All Somebody’s Fool | Dan Simons & Chris Chabris

Caleb Newquist — Wed, 08 May 2024 02:00:00 -0700

Think you’re too smart to be taken in by a fraudster? If so, that may make you an even bigger mark. In this episode, Caleb and Greg speak with psychologists Dan Simons of the University of Illinois Urbana-Champaign and Chris Chabris of the Geisinger Research Institute. Dan and Chris’s new book, “Nobody's Fool: Why We Get Taken In and What We Can Do About It,” goes deep on why we’re all potential victims of clever (or not-so-clever) scams.

Sponsors
G-Accon - https://ohmyfraud.promo/gaccon
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Buy Chris's and Dan's Books
Nobody’s Fool

The Invisible Gorilla

Meet Our Guests:
Daniel Simons [X]

Daniel Simons [LinkedIn]
http://www.dansimons.com

Christopher Chabris [X]

Christopher Chabris [LinkedIn]
http://www.chabris.com

Invisible Gorilla Video [YouTube]

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Caleb Newquist
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LinkedIn: https://www.linkedin.com/in/calebnewquist/

Email us at ohmyfraud@earmarkcpe.com

You’ve Got Fail | The British Post Office Scandal

Caleb Newquist — Wed, 24 Apr 2024 02:00:00 -0700

The US Postal Service has long been the butt of jokes for poor service, but nothing that comes close to this. In this transatlantic episode, Caleb and Greg unpack the story of hundreds of British subpostmasters whose lives were turned upside down when they were falsely accused of stealing from the Post Office.

Sponsors
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CONNECT WITH THE HOSTS

Greg Kyte, CPA
Twitter: https://twitter.com/gregkyte
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Caleb Newquist
Twitter: https://twitter.com/cnewquist
LinkedIn: https://www.linkedin.com/in/calebnewquist/

Email us at ohmyfraud@earmarkcpe.com

Sources:

Post Office scandal explained: What the Horizon saga is all about — BBC

Secret papers reveal Post Office knew its court defence was false — BBC

British Post Office scandal — Wikipedia

Post Office Horizon scandal explained: Everything you need to know — Computer Weekly

Post Office scandal: from suicides to jail time with child killers — the heartbreaking stories of the postmasters — The Standard

A Brief History of the United States Postal Service - The Smithsonian

The History of the Post Office — Automatic Access Limited Blog

Royal Mail - Wikipedia

A short history of the Post Office — The History Press

Post office numbers — House of Commons Library

Subpostmasters get raw deal in Post Office pay structure - Apex Insights

How independent retailers can make money from Post Offices — The Grocer

How to start a post office — PDQ Funding

The 2024 ACFE Report to the Nations, Annotated with Wisecracks

Caleb Newquist — Wed, 10 Apr 2024 02:00:00 -0700

In many episodes, Greg cites statistics from “A Report to the Nations,” the biennial report on occupational fraud, from the Association of Certified Fraud Examiners. As luck would have it, the most recent edition dropped in 2024, and so naturally, Caleb and Greg took the opportunity to discuss it.

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Greg Kyte, CPA
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Caleb Newquist
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LinkedIn: https://www.linkedin.com/in/calebnewquist/

Email us at ohmyfraud@earmarkcpe.com

Sources:

Occupational Fraud 2024: A Report To The Nations [ACFE]

Next Stop, Fraud | The Case of Frederick Darren Berg

Caleb Newquist — Wed, 27 Mar 2024 02:00:00 -0700

We all have childhood dreams. Not all of us get to make them come true. In this episode, Caleb and Greg discuss the story of Frederick Darren Berg, who as a boy, developed a fascination with buses, and made them central to multiple ventures in his career.

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CONNECT WITH THE HOSTS

Greg Kyte, CPA
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Caleb Newquist
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LinkedIn: https://www.linkedin.com/in/calebnewquist/

Email us at ohmyfraud@earmarkcpe.com

Sources:

Darren Berg on the Run: Inside the Biggest Ponzi Scheme in Washington State History [Seattle Met]
Financial empire, luxurious lifestyle were built on a mirage [Seattle Times]
After spending spree, a reckoning for man behind state’s biggest Ponzi scheme [SeattlePI]
Berg often portrayed himself as a lawyer [Seattle Times]
Mercer Island Man Arrested for Ponzi Scheme and Bankruptcy Fraud Darren Berg Defrauded Investors and Allegedly Tried to Hide Assets During Bankruptcy [FBI]
Mercer Island Man Sentenced to 18 Years in Prison for Ponzi Scheme and Bankruptcy Fraud [FBI]
American Greed: ‘Seattle Roasted’ [American Greed]
Inmate who defrauded investors more than $100 million escapes Atwater prison [Merced Sun-Star]
Prison escape of Darren Berg, Washington’s ‘Mini Madoff,’ is like ‘Shawshank Redemption,’ official says [Seattle Times]
Washington man who escaped prison following $100M Ponzi scheme possibly went to Brazil [AP]
Darren Berg: A Ponzi Scheme Mastermind Escapes: Part 1 [The Perfect Scam]
Darren Berg: A Ponzi Scheme Mastermind Escapes: Part 2 [The Perfect Scam]

Meet the Whistleblower Who Took on Halliburton

Caleb Newquist — Wed, 13 Mar 2024 02:00:00 -0700

Whistleblowers are essential to discovering fraud. According to the Association of Certified Fraud Examiners, more than 40 percent of frauds are discovered by a tip or whistleblower. In this episode, Caleb and Greg talk to one for the first time on Oh My Fraud. Anthony Menendez, “The Accountant Who Beat Halliburton,” recounts his saga as a whistleblower, and shares the many lessons he learned along his journey.

Sponsors
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Chapters

(00:00) - Welcome to Oh My Fraud
(01:21) - The Halliburton Episode: A Prelude
(02:54) - Meet Tony Menendez: The Accountant Who Took on Halliburton
(04:27) - Tony's Early Life and Unexpected Path to Accounting
(09:22) - The Sarbanes-Oxley Era and Its Impact on Tony's Career
(11:21) - Tony's Transition to Halliburton and Initial Skepticism
(23:52) - Uncovering Accounting Irregularities at Halliburton
(29:20) - The Bill and Hold Controversy Explained
(37:14) - Raising Concerns and the Fallouts
(41:36) - The Fallout: Navigating Corporate Politics and Email Warnings
(46:37) - The SEC Steps In: A Whistleblower's Hope and Disappointment
(01:06:00) - The Fight for Whistleblower Rights: A Personal Battle
(01:11:25) - The Verdict: A Crushing Blow to Whistleblower Protections
(01:16:37) - Taking Matters into His Own Hands: The Appeal Process
(01:18:27) - A Glimmer of Hope: Winning the Appeal
(01:20:34) - Back to Square One: The Lower Court's Stubborn Stance
(01:23:46) - A Final Victory? The Appeals Court's Decision
(01:29:25) - The Aftermath: Life After Whistleblowing
(01:34:12) - A New Chapter: From Whistleblower to Professor
(01:37:23) - Thanks for Listening and Remember to Rate & Subscribe

CONNECT WITH TONY
LinkedIn: https://www.linkedin.com/in/anthonyjmenendez
LMU - https://cba.lmu.edu/academics//faculty/anthony.menendez

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LinkedIn: https://www.linkedin.com/in/calebnewquist/

Email us at ohmyfraud@earmarkcpe.com
References:
The Whistleblower’s Tale: How An Accountant Took on Halliburton [ProPublica]

He fought Halliburton and won [Fraud Magazine]

I am a Halliburton Whistleblower. I fought them for 9 years and (eventually) won. Ask Me Anything. [Reddit]

Anthony J. Menendez [LinkedIn]

Anthony Menendez [Loyola Marymount University]

A Lotto Fraud

Caleb Newquist — Wed, 28 Feb 2024 02:00:00 -0800

Everyone dreams of winning the lottery. Some may even fantasize about trying to game the system. But only a very small few actually have the opportunity to tip the odds in their favor. In this episode, Caleb and Greg discuss an audacious scheme to rig the Iowa lottery.

HOW TO EARN FREE CPE

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CONNECT WITH THE HOSTS

Greg Kyte, CPA
Twitter: https://twitter.com/gregkyte
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Caleb Newquist
Twitter: https://twitter.com/cnewquist
LinkedIn: https://www.linkedin.com/in/calebnewquist/

Email us at ohmyfraud@earmarkcpe.com

Sources:
The Winning Ticket — by Rob Sand with Reid Forgrave

'Hot Lotto' scammer Eddie Tipton paroled after 5 years in Iowa prison — Des Moines Register

The Untold Story of How a Gaming Geek with a Checkered Past Pulled Off the Biggest Lottery Scam in US History — Des Moines Register

Lotteries in the United States — Wikipedia

Lottery machine - Wikipedia — Wikipedia

https://www.youtube.com/watch?v=go-0mkWNrlk — PowerBall YouTube Channel

https://www.youtube.com/watch?v=dRNpRgMiVQU — Mega Millions YouTube Channel

Lotto America Moves to Digital Drawings — PowerBall

Lotto America — Wikipedia

1980 Pennsylvania Lottery scandal — Wikipedia

Sir Frauds a Lot | The Case of Stanford Financial Group

Caleb Newquist — Wed, 14 Feb 2024 02:00:00 -0800

Chances are, you probably remember a massive fraud from the late 2000s that created a media circus. Just maybe not this one. In this episode, Caleb and Greg delve into a saga of Allen Stanford, the mastermind of a convoluted, multi-decade, multi-billion-dollar Ponzi scheme.

Sponsors
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CONNECT WITH THE HOSTS

Greg Kyte, CPA
Twitter: https://twitter.com/gregkyte
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Caleb Newquist
Twitter: https://twitter.com/cnewquist
LinkedIn: https://www.linkedin.com/in/calebnewquist/

Email us at ohmyfraud@earmarkcpe.com

Sources:

James Stanford [Obituary]
Stanford's Failed Health Club [BusinessWeek via WayBack Machine]
The Dark Knight [Texas Monthly]
Not Quite Cricket [The New Yorker]
Stanford Financial Group [Wikipedia]
Viewing Financial Crimes as Economic Homicide [NYT]
Cook Islands, a Paradise of Untouchable Assets [NYT]
United States v. Robert Allen Stanford et al. [SEC]
Warning signs showed Stanford empire was built on 'threats and innuendos' [The Guardian]
Handcuffed Stanford pleads not guilty [ESPNcricinfo]
Seven charges against Allen Stanford are dropped [BBC]
Allen Stanford ruled unfit to stand trial for fraud [BBC]
Judge weighs whether Allen Stanford fit for trial [Reuters]
Defiant US fraudster Allen Stanford vows to clear name [BBC]
The Rise and Fall of Allen Stanford [Ministry Watch]
TD Bank reaches $1.2 billion settlement in Ponzi scheme lawsuit [CNN]
After 15 years of motions and delays, trial for Stanford Trust fraud could happen next year [The Advocate]

The Defrauded Famous | Courtney Love and Kevin Hart

Caleb Newquist — Wed, 31 Jan 2024 02:00:00 -0800

Hollywood loves a sequel, so Caleb and Greg return with two more stories of celebrities who fell victim to fraud.

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CONNECT WITH THE HOSTS

Greg Kyte, CPA
Twitter: https://twitter.com/gregkyte
LinkedIn: https://www.linkedin.com/in/gregkyte/

Caleb Newquist
Twitter: https://twitter.com/cnewquist
LinkedIn: https://www.linkedin.com/in/calebnewquist/

Email us at ohmyfraud@earmarkcpe.com

Sources:

Kevin Hart

Kevin Hart Net Worth: Comedy, Movies, and Investing [MoneyMade]
Kevin Hart's former personal shopper charged with $1 million in theft [USA Today]
Top 10 Highest Grossing Comedy Tours of 2023 [Billboard]
Kevin Hart is Forbes' highest-earning stand-up comedian of 2019 [UPI]
10 Richest Stand-up Comedians in the World [Comedyville]
Kevin Hart doesn't have a brand. He is the brand [Los Angeles Times]
CELEBRITY PERSONAL SHOPPER CHARGED WITH DEFRAUDING COMEDIAN KEVIN HART [Office of the District Attorney Queens County]

Courtney Love

Courtney Love [Wikipedia]
Courtney Love explains why you’ve got to do the math [Financial Times]
Courtney Love [WTF with Marc Maron]
LOVE GOES AFTER KURT ‘LOOTERS’ [New York Post]
Courtney Love Labors to Get Back Kurt Cobain's MIA Fortune [E!]
Courtney Love Sued Again for Defamation on Twitter [The Hollywood Reporter]
Courtney Love Looks to Sue Ex-Attorney Over Bizarre Kurt Cobain Estate Fraud Claims [The Hollywood Reporter]
Courtney Love Wins Twitter Defamation Trial [The Hollywood Reporter]

Correction: In this episode, Greg incorrectly refers to a musician who wears a giant mouse head with X's for eyes. The artist is Deadmau5 not Modest Mouse. We apologize to the horde or whoever.

Steal. Wash. Repeat. | A History of Money Laundering

Caleb Newquist — Wed, 17 Jan 2024 02:00:00 -0800

Cleaning dirty money may be as old as money itself. In this episode, Caleb and Greg discuss the history of money laundering, from ancient China to Prohibition to the greatest American political scandal of the 20th century.

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CONNECT WITH THE HOSTS

Greg Kyte, CPA
Twitter: https://twitter.com/gregkyte
LinkedIn: https://www.linkedin.com/in/gregkyte/

Caleb Newquist
Twitter: https://twitter.com/cnewquist
LinkedIn: https://www.linkedin.com/in/calebnewquist/

Email us at ohmyfraud@earmarkcpe.com

Sources:

The History Of Money Laundering: Know The Important Origin Of Money Laundering — Financial Crime Academy

The Three Stages Of Money Laundering And How Money Laundering Works. — Financial Crime Academy

Penn Jillette Street Performing Millionaire — Anecdotage

The evolution of money laundering from ancient China to the internet — Grant Thornton Malta

Malta a ‘transit point’ for weapons trafficking from Southern Europe to North Africa — Malta Today

Global Organized Crime Index 2023 — Global Initiative Against Transnational Organized Crime

Prohibition Profits Transformed the Mob — The Mob Museum

Prohibition — Wikipedia

The underworld laundromat: How to clean $10 million in mob money — National Post (Canada)

The "Secret" History of the Bank Secrecy Act — FTI Consulting

President Richard Nixon and the Watergate Scandal — For Dummies Website

Bank Secrecy Act — Wikipedia

Money Laundering Control Act (MLCA) Overview - Willkie Compliance

Three Elements That Must Be Proven in a Money Laundering Case — Sanction Scanner

The Road to Fraud Is Paved With Good Intentions | The Case of Freedman’s Bank

Caleb Newquist — Wed, 03 Jan 2024 02:00:00 -0800

During the Reconstruction era, legal, social, and political change was pervasive throughout the United States as it recovered from the Civil War and the end of slavery. In this episode, Caleb and Greg discuss the effort to help newly emancipated people with a service most of us take for granted today—banking.

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CONNECT WITH THE HOSTS

Greg Kyte, CPA
Twitter: https://twitter.com/gregkyte
LinkedIn: https://www.linkedin.com/in/gregkyte/

Caleb Newquist
Twitter: https://twitter.com/cnewquist
LinkedIn: https://www.linkedin.com/in/calebnewquist/

Email us at ohmyfraud@earmarkcpe.com

Sources:

Transcript of the Emancipation Proclamation [National Archives]
End of slavery in the United States [Wikipedia]
Juneteenth [Wikipedia]
Thirteenth Amendment to the United States Constitution [Wikipedia]
Reconstruction era [Wikipedia]
Freedmen’s Bank [Britannica]
Freedman's Savings Bank [Wikipedia]
Freedman's Bank Building [US Department of the Treasury]
The Freedman’s Bank Forum obscures the bank’s real history [Washington Post]
“The hands are white that handle the money”: Review of Carl R. Osthaus, Freedmen, Philanthropy, and Fraud: A History of the Freedman’s Savings Bank [βιβλιοσκώληξ]
(1876) “Committee on the Freedman’s Bank,” in Reports of Committees of the House of Representatives. Washington: Government Printing Office.
(1880) United States Senate, Report of the Select Committee to Investigate the Freedman’s Savings and Trust Company. Washington: Government Printing Office.
Freedman's Savings and Trust Company [Smithsonian Institution]

Oh My Fraud 2023, Redux

Caleb Newquist — Thu, 28 Dec 2023 02:00:00 -0800

Caleb and Greg recount their favorite swindles, interviews, and culprits from the year that was Oh My Fraud 2023.

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CONNECT WITH THE HOSTS

Greg Kyte, CPA
Twitter: https://twitter.com/gregkyte
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Caleb Newquist
Twitter: https://twitter.com/cnewquist
LinkedIn: https://www.linkedin.com/in/calebnewquist/

Email us at ohmyfraud@earmarkcpe.com

Favorite Cases
https://ohmyfraud.com/episodes/high-steaks-fraud-the-case-of-easterday-farms
https://ohmyfraud.com/episodes/fat-shamming-the-guy-who-corrupted-the-u-s-navy

Favorite Perps
https://ohmyfraud.com/episodes/all-hat-and-no-cartel-the-case-of-dwi-dude
https://ohmyfraud.com/episodes/all-that-glitters-is-not-fraud-the-case-of-bre-x-minerals

Favorite Interviews
https://ohmyfraud.com/episodes/steven-thomas-the-lawyer-who-sues-the-big-4-for-missing-fraud-and-wins
https://ohmyfraud.com/episodes/meet-the-fraudster-nathan-mueller

Super Bad Superintendent | The Case of Roslyn School District

Caleb Newquist — Wed, 20 Dec 2023 02:00:00 -0800

Public schools are the foundation of American education, and few were better than Roslyn High School in Nassau County, New York. The school’s success was largely due to one man, its ambitious superintendent, Frank Tassone. But when Frank’s key lieutenant is caught up in a scandal, it threatens everything, even Frank.

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CONNECT WITH THE HOSTS

Greg Kyte, CPA
Twitter: https://twitter.com/gregkyte
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Caleb Newquist
Twitter: https://twitter.com/cnewquist
LinkedIn: https://www.linkedin.com/in/calebnewquist/

Email us at ohmyfraud@earmarkcpe.com

Sources:

-The Bad Superintendent — NY Magazine (best article)

-The Real-Life Fraud Behind HBO's "Bad Education" — ACFE Insights

-Where Are Pamela Gluckin And Frank Tassone, From The 'Bad Education' Embezzlement Scheme, Now? — Oxygen

-On Top of the News at Roslyn High — The New York Times

-Roslyn Union Free School District: Anatomy of A Scandal — Office of New York State Comptroller Scribd

-NYC Renter Household Incomes Grew Faster Than Rents Between 2014 and 2015 — NYU Furman Center Blog

-Former Schools Chief of Roslyn Gets 4 to 12 Years in Fraud — NYT

-From the archives: Roslyn school district embezzlement — Newsday

-Ex-administrator pleads guilty in embezzlement case — Associated Press

-Roslyn HS reporter who broke 'Bad Education' story speaks 16 years later - The Island Now — The Island Now

-Roslyn Union Free School Dist. v Jaspan Schlesinger Hoffman LLP — New York Court Records

-Four Indicted in Roslyn School District's Financial Scandal — NYT

-Bad Education: Hugh Jackman HBO film criticised by real-life subject for ‘sordid’ depiction of sexuality — The Independent

Correction: In this episode, Caleb incorrectly states the character played by Anthony Rapp in Rent. Rapp played Mark Cohen not Roger Davis. We apologize to all the theater nerds for the error.

All Hat and No Cartel | The Case of DWI Dude

Caleb Newquist — Wed, 06 Dec 2023 02:00:00 -0800

A savvy Texas lawyer who’s made a name for himself defending people accused of drunk driving and marijuana possession tries his hand at high-end extradition cases involving Colombian drug lords. What could go wrong? Everything.

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CONNECT WITH THE HOSTS

Greg Kyte, CPA
Twitter: https://twitter.com/gregkyte
LinkedIn: https://www.linkedin.com/in/gregkyte/

Caleb Newquist
Twitter: https://twitter.com/cnewquist
LinkedIn: https://www.linkedin.com/in/calebnewquist/

Email us at ohmyfraud@earmarkcpe.com

Sources:

The DWI Lawyer Who Represented Cocaine Traffickers—and Paid the Price [Texas Monthly]
Drunk with Power | American Greed
'Reeferendum' spotlights candidate [San Antonio Express-News]
S.A.'s 'DWI Dude' denies scamming Colombian narco-terror group chief [San Antonio Express-News]
Austin lawyer known as ‘DWI Dude’ gets 15 1/2 years in prison for scamming Colombian narcos [Dallas Morning News]
Texas Lawyer Gets 15 Years for Scheme to Defraud Cocaine Traffickers [New York Times]
Central Texas Lawyer Guilty of Swindling Colombian Drug Trafficking Clients [DOJ]
Central Texas Lawyer Sentenced for Swindling Colombian Drug Trafficking Clients [DOJ]
United States v. Balagia [Case Text]
Texas Lawyer Loses Appeal Over Drug Trafficking Conviction [Bloomberg Law]
MR. JAMES MORRIS 'JAMIE' BALAGIA [State Bar of Texas]

Meet the Securities Fraud Scholar: Jim Park of UCLA Law

Caleb Newquist — Wed, 22 Nov 2023 02:00:00 -0800

Professor James Park’s new book chronicles the history of securities fraud in the US, and oh, what a history it is, featuring some of the most infamous episodes in American business. In this episode, Caleb and Greg talk with Jim about some of the notable cases in his book, whether executives or underlings actually bear the responsibility for wrongdoing, if everything truly is securities fraud and more.

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CONNECT WITH THE GUEST

James Park
Website: https://law.ucla.edu/faculty/faculty-profiles/james-park
LinkedIn: https://www.linkedin.com/in/james-park-a0a7161

Buy the book! https://www.amazon.com/Valuation-Treadmill-Securities-Threatens-Integrity/dp/1108940412/ref=sr_1_1?crid=1A9AK5L4Q56XK&keywords=the+valuation+treadmill&qid=1650296004&sprefix=%2Caps%2C90&sr=8-1

CONNECT WITH THE HOSTS

Greg Kyte, CPA
Twitter: https://twitter.com/gregkyte
LinkedIn: https://www.linkedin.com/in/gregkyte/

Caleb Newquist
Twitter: https://twitter.com/cnewquist
LinkedIn: https://www.linkedin.com/in/calebnewquist/

Email us at ohmyfraud@earmarkcpe.com

A Very, Very, Very Nice Lady Did Some Fraud

Caleb Newquist — Wed, 08 Nov 2023 02:00:00 -0800

Who’s the last person you’d suspect of committing fraud? Your grandmother? A good friend? Someone who always seems to be thinking about how they can help others? In this episode, Caleb and Greg discuss a case where someone checks all of those boxes.

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Greg Kyte, CPA
Twitter: https://twitter.com/gregkyte
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Caleb Newquist
Twitter: https://twitter.com/cnewquist
LinkedIn: https://www.linkedin.com/in/calebnewquist/

Email us at ohmyfraud@earmarkcpe.com

Sources:

Viles ‘in a league of her own’ after guilty verdict in $500K theft from town, prosecutor says — Kennebec Journal

Claudia Viles, Even After Tax Theft Conviction, Commands Community Favor — Kennebec Journal Morning Sentinel

Property owned by Anson town clerk convicted of embezzlement to be auctioned — Mainebiz.biz

Former Anson tax collector to serve five years on theft charges — Portland Press Herald

Circumstances that made it easy for Viles to steal not unique to Anson — CentralMaine.com

Difference between Tax Collector & Assessor — Orange County Treasurer’s Office

About The Florida Tax Collector — Sarasota County Tax Collector

Municipal Tax Collectors — Connecticut’s Official State Website

Title 36, §1487: Collection of tax — Maine.gov

Anson, Maine — Wikipedia

Claudia Viles, who will serve five years for embezzlement, vows to clear her name — CentralMaine.com

Median Household Income in Maine — St. Louis Fed

A Most Treacherous Advisor

Caleb Newquist — Wed, 25 Oct 2023 02:00:00 -0700

Certified Public Accountants are some of the most hard working, trustworthy advisors in our society. But you don’t listen to Oh My Fraud to hear about them. In this episode, Caleb and Greg discuss a CPA who used his position as a trusted advisor to swindle millions.

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Greg Kyte, CPA
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Caleb Newquist
Twitter: https://twitter.com/cnewquist
LinkedIn: https://www.linkedin.com/in/calebnewquist/

Email us at ohmyfraud@earmarkcpe.com

Sources:

IN THE MATTER OF: DOUGLAS A. RICHARDSON, CPA, LLC; and DOUGLAS A. RICHARDSON | ORDER TO CEASE AND DESIST AND ORDER TO SHOW CAUSE WHY
RESTITUTION, CIVIL PENALTIES, AND COSTS SHOULD NOT BE IMPOSED [Missouri Secretary of State]
Jury Convicts Lebanon CPA of $7 Million Wire Fraud, Money Laundering Scheme [DOJ]
Former Lebanon, Mo. CPA sentenced to prison for Ponzi scheme [KY3]
United States v. Douglas Richardson, No. 21-2370 (8th Cir. 2022) [Justia]
Pre-Employment Inquiries and Financial Information — US Equal Employment Opportunity Commission
Indictment

The (Mostly) Complete History of Wire Fraud

Caleb Newquist — Wed, 11 Oct 2023 02:00:00 -0700

Sponsors

Murder, kidnapping, dismemberment—these are the crimes of many a true crime podcast; just not this true crime podcast. In this episode, Caleb and Greg explore wire fraud, its history, and why it comes up in nearly every case study they discuss.

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Greg Kyte, CPA
Twitter: https://twitter.com/gregkyte
LinkedIn: https://www.linkedin.com/in/gregkyte/

Caleb Newquist
Twitter: https://twitter.com/cnewquist
LinkedIn: https://www.linkedin.com/in/calebnewquist/

Email us at ohmyfraud@earmarkcpe.com

Sources:

The History Of Wire Fraud — LAWS.com

Wire Fraud: Definition, examples, and prevention. — Datavisor

Mail and wire fraud — Wikipedia

U.S. postal system established | July 26, 1775 — History.com

Telegraph | Invention, History, & Facts — Britannica

History of the Mail Fraud Statute — United States Postal Inspection Service

Wire and Mail Fraud — Prison Professors

Uncovering the Legislative Histories of the Early Mail Fraud Statutes: The Origin of Federal Auxiliary Crimes Jurisdiction — University of Utah Law

P.T. Barnum was an Early Adopter of the Telegraph- So he Could Prank his Co-Workers — Another Century Blog

Wired on Crime: Soapy Smith’s Telegraph Con — Another Century Blog

18 U.S. Code § 1343 - Fraud by wire, radio, or television — Cornell Law School

What is Wire Fraud, and What is the Statute of Limitations for Wire Fraud? — Warren Law Group

Former Enron CEO Jeffrey Skilling Resentenced to 168 Months for Fraud, Conspiracy Charges — DOJ

Federal Jury Convicts Former Enron Chief Executives Ken Lay, Jeff Skilling On Fraud, Conspiracy And Related Charges — DOJ

High-End Wine Collectors Get Screwed

Caleb Newquist — Wed, 27 Sep 2023 02:00:00 -0700

Sponsors

Caleb and Greg discuss a beloved oenophile who was shaking up the stuffy world of high-end wine collectors by buying and selling large quantities of sought after bottles.

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CONNECT WITH THE HOSTS

Greg Kyte, CPA
Twitter: https://twitter.com/gregkyte
LinkedIn: https://www.linkedin.com/in/gregkyte/

Caleb Newquist
Twitter: https://twitter.com/cnewquist
LinkedIn: https://www.linkedin.com/in/calebnewquist/

Email us at ohmyfraud@earmarkcpe.com

Sources:

The great wine fraud - The Guardian

Southern District of New York | Wine Dealer Rudy Kurniawan Convicted In Manhattan Federal Court For Creating And Selling Millions Of Dollars Of Counterfeit Wine | United States Department of Justice - DOJ

Southern District of New York | Prominent Wine Dealer Rudy Kurniawan Sentenced In Manhattan Federal Court To 10 Years In Prison For Selling Millions Of Dollars Of Counterfeit Wine - DOJ

Manhattan U.S. Attorney And FBI Assistant Director-In-Charge Announce Charges Against Wine Dealer For Multi-Million Dollar Fraud Schemes - DOJ

Sour Grapes - Documentary Film currently available on Peacock

How Long Can A Wine Be Stored And When Is It Ready To Drink? - rarewineinvest.com

History Of The Wine Investment Market - BiBO

How Rudy Kurniawan Fooled the Wine World - Wine Enthusiast

The F.B.I. Has an Art Crime Team. And These Days, It’s Busy - NYT

Billionaire Koch brother's crusade against counterfeit wine - CBS News

In Vino Duplicitas: The Rise and Fall of a Wine Forger Extraordinaire - Book by Peter Hellman

Meet the Fraud Investigator: Chris Marquet

Caleb Newquist — Wed, 13 Sep 2023 03:00:00 -0700

Caleb and Greg talk to one of their fraud podcasting forebears, investigator Chris Marquet. Chris hosted the Fraud Talk podcast in 2014 and 2015, basing the show on discussions of fraud topics with various experts and decades of his professional experience.

Sponsors
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Connect With Chris

LinkedIn: https://www.linkedin.com/in/chris-marquet-4262533
Fraud Talk Podcast: https://www.voiceamerica.com/show/2349/fraudtalk

Connect With The Hosts

Greg Kyte, CPA
Twitter: https://twitter.com/gregkyte
LinkedIn: https://www.linkedin.com/in/gregkyte/

Caleb Newquist
Twitter: https://twitter.com/cnewquist
LinkedIn: https://www.linkedin.com/in/calebnewquist/

Email us at ohmyfraud@earmarkcpe.com

The Defrauded Famous | Billy Joel and Dane Cook

Caleb Newquist — Wed, 30 Aug 2023 03:00:00 -0700

There is no greater affront to American society than the scammed celebrity. In this episode, Caleb and Greg discuss two cases of famous entertainers—singer/songwriter Billy Joel and standup comedian Dane Cook—who were both betrayed and swindled by someone they should’ve been able to trust: their business managers.

Sponsors
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CONNECT WITH THE HOSTS

Greg Kyte, CPA
Twitter: https://twitter.com/gregkyte
LinkedIn: https://www.linkedin.com/in/gregkyte/

Caleb Newquist
Twitter: https://twitter.com/cnewquist
LinkedIn: https://www.linkedin.com/in/calebnewquist/

Email us at ohmyfraud@earmarkcpe.com

Sources:

Billy Joel

Billy Joel [Wikipedia]
How Billy Joel’s three wives stole his heart and his money [New York Post]
Billy Joel Sues Former Manager for $90 Million [Los Angeles Times]
Billy Joel's ''River of Dreams'' [Entertainment Weekly]
Billy Joel on Not Working and Not Giving Up Drinking [New York Times Magazine]

Dane Cook

Dane Cook [Wikipedia]
Relative embezzled millions from actor [The Boston Globe]
Woman sentenced in Cook thefts [UPI]
Dane Cook's half-brother, sister-in-law must repay $12 million [CNN]
'Jeopardy ' Posed a Question About Dane Cook's Convicted Half-Brother — See His Shocked Reaction [People]
Dane Cook's Brother Stole MILLIONS From Him [Your Mom’s House]

The Case of the Polygamist with More Fraud Charges Than Wives

Caleb Newquist — Wed, 16 Aug 2023 03:00:00 -0700

What do you get when you mix a polygamous cult, biofuel, and federal tax credits? Sure, maybe the worst orgy you’ve ever been to, but also: a gigantic fraud. Caleb and Greg discuss all of this and more in this episode.

Sponsors
South Carolina Association of CPAs (SCACPA) - https://ohmyfraud.promo/scacpa

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CONNECT WITH THE HOSTS

Greg Kyte, CPA
Twitter: https://twitter.com/gregkyte
LinkedIn: https://www.linkedin.com/in/gregkyte/

Caleb Newquist
Twitter: https://twitter.com/cnewquist
LinkedIn: https://www.linkedin.com/in/calebnewquist/

Email us at ohmyfraud@earmarkcpe.com

Sources:

Leader of $1 Billion Polygamist Fraud Gets 40 Years in Prison - Bloomberg

A multimillion-dollar biofuel fraud began with a cowboy hat and a slew of seafood, Jacob Kingston testifies - Salt Lake Tribune

Jacob Kingston testifies about his polygamous sect and the birth of a multimillion-dollar tax scam - Salt Lake Tribune

Girls in polygamous Kingston Group continue to marry as young as 15, records show, sometimes leaving Utah to marry cousins - Salt Lake Tribune

Fallout from Washakie fraud could cost polygamous Kingston Group members their businesses and homes - Salt Lake Tribune

Polygamous Kingston Group may have swiped ‘millions’ in student aid, lawsuit says - Salt Lake Tribune

Feds move to seize homes and businesses from polygamous Kingston Group as fraud defendants plead guilty - Salt Lake Tribune

Los Angeles Businessman, Utah Fuel Plant Operators and Employees Sentenced to Prison for Billion-Dollar Biofuel Tax Fraud Scheme - DOJ

Inside “the Order,” One Mormon Cult’s Secret Empire - Rolling Stone

What Religion are the Stars of Sister Wives? - In Touch Weekly

The Latter Day Church of Christ - Wikipedia

Blood Cult - Southern Poverty Law Center

Washakie Renewable Energy - About.Me

Diesel Vehicles Using Biodiesel - Alternative Fuels Data Center

Biodiesel Fuel Basics - Alternative Fuels Data Center

Biodiesel Production and Distribution - Alternative Fuels Data Center

Kingston clan: Unlikely whistleblower helps uncover alleged half-billion tax scam by secretive polygamist sect members - CBS News - CBS News

This…is American EIDL Fraud!

Caleb Newquist — Wed, 02 Aug 2023 03:00:00 -0700

In previous episodes Caleb and Greg have discussed the rampant fraud in the Paycheck Protection Program (PPP). But in this episode, the guys discuss a much less talked about program that was also subject to a lot of pandemic relief fraud: Economic Injury Disaster Loans (EIDL).

Sponsors
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Greg Kyte, CPA
Twitter: https://twitter.com/gregkyte
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Caleb Newquist
Twitter: https://twitter.com/cnewquist
LinkedIn: https://www.linkedin.com/in/calebnewquist/

Email us at ohmyfraud@earmarkcpe.com

Sources:

Postscript
Since we recorded this episode, there have been a couple developments:

1. The Small Business Administration released a new report entitled "COVID-19 Pandemic EIDL and PPP Loan Fraud Landscape" on June 27, 2023. It estimates that the total amount of fraud between EIDL and PPP is ~$200 billion.

2. Former Florida Representative Joe Harding requested that his sentencing be pushed back a couple months. He still faces a maximum sentence of 35 years after pleading guilty to wire fraud, money laundering and making false statements about COVID-19 relief aid he received.

All That Glitters Is Not Fraud | The Case of Bre-X Minerals

Caleb Newquist — Wed, 19 Jul 2023 11:18:59 -0700

Throughout history, men have been driven mad in their search for gold. Much to Caleb and Greg’s surprise, that continued well into the 20th Century. And that madness was perhaps best exemplified by the men behind Bre-X Minerals, and their quest to find an enormous gold deposit on the island of Borneo.

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Twitter: https://twitter.com/gregkyte
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Caleb Newquist
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LinkedIn: https://www.linkedin.com/in/calebnewquist/

Email us at ohmyfraud@earmarkcpe.com

Resources:
-Bre-X: The real story and scandal that inspired the movie Gold - Calgary Herald

-The Bre-X Gold Scandal — Thought Co.

-Bre-X — Wikipedia
-JPMorgan Chase through it had $1.3 million of nickel, but they were all bags of stones — Business Insider

-The Biggest Gold Mining Scandal in History — Gold Avenue

-Great Frauds in History: The Bre-X Gold Mining Scandal — Money Week

-A Lode of Lies: How Bre-X Fooled Everyone — Washington Post

-The $6 Billion Gold Mine that Wasn’t — Slate

Meet the Ethics Professor: Mike Shaub of Texas A&M

Caleb Newquist — Wed, 05 Jul 2023 09:00:00 -0700

Professor Mike Shaub believes deeply that auditors have a duty to the public because they are Certified Public Accountants, not Certified Profitable Accountants. Caleb and Greg talk with Dr. Shaub about ethics, recent scandals in the accounting profession, whether auditors can be independent and objective, and more.

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Connect with Mike Schaub

LinkedIn : https://www.linkedin.com/in/michael-shaub
https://mays.tamu.edu/directory/mshaub/
https://maystamuedu.wpenginepowered.com/ethics/

CONNECT WITH THE HOSTS

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Caleb Newquist
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LinkedIn: https://www.linkedin.com/in/calebnewquist/

Email us at ohmyfraud@earmarkcpe.com

Referenced Readings :

The Worst Fan Club President Ever | The Selena Embezzlement (and Murder) Case

Caleb Newquist — Wed, 21 Jun 2023 09:10:33 -0700

The life of Tejano icon Selena has been chronicled in multiple feature and documentary films. In this episode, Caleb and Greg discuss the story of how her tragic death can be traced back to allegations of embezzlement by the president of her fan club and murderer, Yolanda Saldívar.

Sponsors
Tri-Merit - https://ohmyfraud.promo/trimerit
LiveFlow - https://ohmyfraud.promo/liveflow
South Carolina Association of CPAs (SCACPA) - https://ohmyfraud.promo/scacpa

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Greg Kyte, CPA
Twitter: https://twitter.com/gregkyte
LinkedIn: https://www.linkedin.com/in/gregkyte/

Caleb Newquist
Twitter: https://twitter.com/cnewquist
LinkedIn: https://www.linkedin.com/in/calebnewquist/

Email us at ohmyfraud@earmarkcpe.com

Sources:

How Yolanda Saldívar's Obsession With Selena Turned Deadly - Biography Dot Com

Selena kin testify Saldivar embezzled - UPI

Yolanda Saldivar - Wikipedia

The Selena Etc. Boutique - Wikipedia

Police detail standoff after Selena Shooting - Washington Post

Tejano Music - Wikipedia

Murder Suspect ‘Obsessed’ With Singer - The Spokesman-Review

Selena List of Awards - Fandom.com

Selena’s Grammy Awards - Recording Academy Grammy Awards

The Queen is Dead - Texas Monthly

Selena Embraced Her Heritage and Embraced Its Evolution in Style - Texas Monthly

Woman Who Murdered Singer Gets a Sentence of Life in Prison - NYT

Fraud, Fraud Everywhere

Caleb Newquist — Wed, 07 Jun 2023 10:00:00 -0700

It seems that fraud is always in the news, but how much fraud is happening that we don’t know about? How could someone even figure that out? Believe it or not, people have tried, and in this episode, Caleb and Greg discuss a recent attempt to quantify how pervasive fraud is in corporate America.

Sponsors
Tri-Merit - https://ohmyfraud.promo/trimerit
LiveFlow - https://ohmyfraud.promo/liveflow
South Carolina Association of CPAs (SCACPA) - https://ohmyfraud.promo/scacpa

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Greg Kyte, CPA
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Caleb Newquist
Twitter: https://twitter.com/cnewquist
LinkedIn: https://www.linkedin.com/in/calebnewquist/

Email us at ohmyfraud@earmarkcpe.com

Sources:

How pervasive is corporate fraud? [SpringerLink]
Just How Common Is Corporate Fraud? [NYT]
Sarbanes–Oxley Act [Wikipedia]
Market Capitalization [Investopedia]

Too Pandemic, Too PPP Fraud

Caleb Newquist — Wed, 24 May 2023 10:00:00 -0700

It’s Paycheck Protection Program Fraud, the sequel! Caleb and Greg explore more PPP fraud in this episode, including a repeat repeat offender, a big conspiracy, funny farm names, and more.

Sponsors
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LiveFlow - https://ohmyfraud.promo/liveflow
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Greg Kyte, CPA
Twitter: https://twitter.com/gregkyte
LinkedIn: https://www.linkedin.com/in/gregkyte/

Caleb Newquist
Twitter: https://twitter.com/cnewquist
LinkedIn: https://www.linkedin.com/in/calebnewquist/

Email us at ohmyfraud@earmarkcpe.com

Previous OMF episode:

A Plethora of Pandemic PPP Fraud

Sources:

How the Paycheck Protection Program went from good intentions to a huge free-for-all [NPR]
Man Awaiting Trial for Covid-19 Bank Fraud Does It Again, Authorities Say [NYT]
Scott Township Man Pleads Guilty in $3,8 Million Fraud on the Payroll Protection Program [Justice.gov]
Carnegie Man Sentenced to 6½ Years for $3.8 Million Paycheck Protection Program Fraud [Justice.gov]
Woman Pleads Guilty for $43.8 Million COVID-19 Relief Fraud Scheme [Justice.gov]
Man Convicted for $27 Million PPP Fraud Scheme [Justice.gov]
Seminole County Man Extradited From Croatia To Face COVID Relief Fraud Charges [Justice.gov]
Extradited Seminole County Man Sentenced To More Than Eight Years In Federal Prison For COVID Relief Fraud [Justice.gov]
Hundreds of PPP Loans Went to Fake Farms in Absurd Places [ProPublica]
Prosecutors Struggle to Catch Up to a Tidal Wave of Pandemic Fraud [NYT]
Two Fintechs Fueled Extensive Pandemic Relief Fraud, House Report Finds [NYT]
Kevin Bacon opens up about family losing most of their money in Madoff scheme [Spectrum News]

The $100 Million Deli

Caleb Newquist — Wed, 10 May 2023 09:00:00 -0700

Think about your hometown deli. And then think about what kind of business your hometown deli would have to be to be a $100 million business. That is the case of Your Hometown Deli.

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Greg Kyte, CPA
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Caleb Newquist
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LinkedIn: https://www.linkedin.com/in/calebnewquist/

Sources:

Owners of a small deli are charged with fraud for valuing business at $100 million - NPR

$100 million New Jersey deli scheme leads to U.S. fraud charges - Reuters

$100 million New Jersey deli fugitive Peter Coker Jr. agrees to extradition from Thailand - CNBC

Three men charged with fraud in $100 million New Jersey deli scheme - CNBC

2020 10-K for Hometown International, Inc. - SEC

New Jersey high school wrestling coach is CEO of $100 million firm that owns one deli - CNBC

“Whatever it is, it’s not very good”: The strange, incredible case of the $100 million deli - Fast Company

The $100 Million Deli - NPR’s Planet Money

First GameStop, Now a Jersey Delicatessen - The New Yorker

The Mystery of the $113 Million Deli - New York Times Magazine

$100 million New Jersey deli owner Hometown International just announced a merger with a bioplastics firm - CNBC

That mysterious New Jersey deli once owned by a publicly traded company is closed, regulatory filing shows - CNBC

Paul Morina’s bio - JMU Hall of Fame

Key investor in $100 million NJ deli has a history of legal problems, ties to criminals - CNBC

James Patten’s LinkedIn profile - LinkedIn

David Einhorn’s Greenlight Newsletter from April 15, 2021 - Greenlight Newsletter

Twenty-Year Review of Audit and Non-Audit Fee Trends - Harvard Law School

Steven Thomas: The Lawyer Who Sues the Big 4 for Missing Fraud and Wins

Caleb Newquist — Wed, 26 Apr 2023 12:43:24 -0700

When a big company fails due to fraud and it seems that a big audit firm dropped the ball, it won’t be long until Steve Thomas shows up to sue their pants off. Caleb and Greg talk to Steve about how his career evolved from becoming a partner at a white shoe law firm to starting a specialty practice that sues audit firms that have failed to detect frauds, and winning big settlements for his clients.

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Learn More About Steven Thomas:
https://tafattorneys.com/
The beach-house lawyer calling big auditors to account

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Inigo Philbrick and the Art of the Fraud

Caleb Newquist — Wed, 12 Apr 2023 18:00:00 -0700

From the outside, the art world can seem enticing, glamorous, and sophisticated. But the story can be very different behind the scenes. Caleb and Greg discuss the tale of Inigo Philbrick, a young, brash dealmaker whose reputation grew quickly, only to crash and burn in spectacular fashion.

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SOURCES:

Fat Shamming | The Guy Who Corrupted the U.S. Navy

Caleb Newquist — Wed, 29 Mar 2023 12:55:51 -0700

In this episode, Caleb and Greg discuss the saga of “Fat Leonard,” a contractor slash concierge slash fixer slash pimp for the United States Navy.

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EMAIL : ohmyfraud@earmarkcpe.com

Sources:

Fat Leonard Scandal — Wikipedia

Fat Leonard Podcast - XPRX Project Brazen
Fat Leonard: Malaysian criminal in US Navy scandal recaptured after jail break — BBC
Trials are finally wrapping up in the 'Fat Leonard' bribery case — NPR
U.S. Navy Admiral Sentenced To Prison In Bribery Scandal — NPR
Prostitutes, vacations and cash: The Navy officials ‘Fat Leonard’ took down - Washington Post

Penalties for Adultery — Military Law Center

DoD rules on gifts — U.S. Army

Dishonest, Remarkably Stupid Conduct | The EY Ethics Exam Cheating Scandal

Caleb Newquist — Wed, 15 Mar 2023 14:22:46 -0700

Certified Public Accountants (CPA) are highly regarded, ethical professionals trusted by businesses and individuals alike. But that doesn’t mean some aren’t capable of impressively unethical behavior. In this episode, Caleb and Greg discuss a case involving the mega accounting firm Ernst & Young that highlights behavior that’s not uncommon in the profession and what that means for accountants’ ethics more broadly.

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EMAIL : ohmyfraud@earmarkcpe.com

Sources:

Meet the Fraudster: Nathan Mueller

Caleb Newquist — Wed, 01 Mar 2023 09:05:26 -0800

As a young person, Nathan Mueller was hyper-focused on wanting to make money. It was this ambition that eventually led to him perpetrating an $8 million embezzlement scheme in the mid-2000s. Caleb and Greg talk to Nathan about the fraud, prison life, and his new job as… an accountant.

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EMAIL : ohmyfraud@earmarkcpe.com

High Steaks Fraud | The Case of Easterday Farms

Caleb Newquist — Wed, 15 Feb 2023 11:00:00 -0800

Caleb grew up in farm country, and Greg did not. No problem, though, together they talk through a case of a large ranching operation at the center of a massive fraud.

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Caleb Newquist
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LinkedIn: https://www.linkedin.com/in/calebnewquist/

EMAIL : ohmyfraud@earmarkcpe.com

Sources:

Betting the Ranch - High Country News
Rancher takes $244 million from Tyson Foods in ghost cattle scam - KKTV Colorado Springs
Tri-Cities Rancher Sentenced to Eleven Years in Federal Prison and Ordered to Pay $244 Million in Restitution for “Ghost Cattle” Fraud - DOJ
Rancher Sentenced for Running $244 Million “Ghost Cattle Scam - DOJ
Eastern Washington Cattle Rancher Sentenced to 11 Years in Prison for 'Ghost Cattle' Scam - Big Country News
Easterday Farms Website
Winning Bid on Easterday Assets: $209M - Progressive Farmer
Washington Man Pleads Guilty in $244 Million Ghost Cattle Scam - DOJ
Court Documents on Sentencing and Restitution - U.S. District Court
Other Court Documents & Information - U.S. District Court
Types of Beef Cattle Operations - CAERT Inc.
Beef Cattle Production - UC Davis
https://www.investopedia.com/terms/s/speculator.asp
https://www.cmegroup.com/education/courses/introduction-to-futures/understanding-the-role-of-speculators.html
https://en.wikipedia.org/wiki/Speculation
https://www.investopedia.com/ask/answers/06/forwardsandfutures.asp#:~:text=A%20forward%20contract%20is%20a,the%20end%20of%20the%20contract
https://www.investopedia.com/terms/d/delivery-point.asp#:~:text=The%20futures%20contract%20buyers%20who,physical%20delivery%20of%20the%20asset.

The Honest Truth About the Dishonesty Professor: Part 2

Caleb Newquist — Wed, 01 Feb 2023 11:00:00 -0800

Caleb and Greg conclude their discussion of distinguished professor and author Dan Ariely and the issues raised around one of his most notable works. You might call it: “The Case of the Dishonesty Professor and The Screwy Data.”

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Caleb Newquist
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LinkedIn: https://www.linkedin.com/in/calebnewquist/

EMAIL : ohmyfraud@earmarkcpe.com

Sources:

Evidence of Fraud in an Influential Field Experiment About Dishonesty — Data Colada blog

A study on dishonesty was Based on fraudulent data — The Economist

Are we in control of our decisions? — Dan Ariely TED Talk

Why we think it’s OK to cheat and steal (sometimes) — Dan Ariely TED Talk

The Honest Truth About Dishonesty — Book by Dan Ariely

Predictably Irrational — Book by Dan Ariely

A Famous Honesty Researcher Is Retracting A Study Over Fake Data — Buzzfeed

Behavioral researcher says he ‘undoubtedly made a mistake’ in false data scandal — The Times of Israel

When We’re Wrong, It’s Our Responsibility as Scientists to Say So — Scientific American

Signing at the end versus the beginning does not decrease dishonesty — PNAS

The Honest Truth About the Dishonesty Professor

Caleb Newquist — Wed, 18 Jan 2023 11:51:46 -0800

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Caleb Newquist
Twitter: https://twitter.com/cnewquist
LinkedIn: https://www.linkedin.com/in/calebnewquist/

EMAIL : ohmyfraud@earmarkcpe.com

Sources:

Evidence of Fraud in an Influential Field Experiment About Dishonesty — Data Colada blog

A study on dishonesty was Based on fraudulent data — The Economist

Are we in control of our decisions? — Dan Ariely TED Talk

Why we think it’s OK to cheat and steal (sometimes) — Dan Ariely TED Talk

The Honest Truth About Dishonesty — Book by Dan Ariely

Predictably Irrational — Book by Dan Ariely

A Famous Honesty Researcher Is Retracting A Study Over Fake Data — Buzzfeed

Behavioral researcher says he ‘undoubtedly made a mistake’ in false data scandal — The Times of Israel

When We’re Wrong, It’s Our Responsibility as Scientists to Say So — Scientific American

Signing at the end versus the beginning does not decrease dishonesty — PNAS

The Koss of Doing Business

Caleb Newquist — Fri, 30 Dec 2022 11:00:00 -0800

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Caleb Newquist
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LinkedIn: https://www.linkedin.com/in/calebnewquist/

EMAIL : ohmyfraud@earmarkcpe.com

Sources:

Koss History
Koss Corporation - Company Profile, Information, Business Description, History, Background Information on Koss Corporation [Reference for Business]
All The Right Moves [Inc.]
The Diva [Milwaukee]
Former Koss Corporation Executive Charged in $31 Million Dollar Fraud [FBI]
United States of America v. Sujata Sachdeva via Tracy Coenen
How an embezzler stole millions from a small company [AccountingWeb]
Theft at Koss blamed on relaxed attitude, lax oversight [MJS]
SEC v. Koss Corporation and Michael J. Koss [Securities and Exchange Commission]
Publicly owned and family-run [Family Business]
Sachdeva pleads guilty, says she regrets fraud [MJS]
Koss embezzler feared discovery from start [MJS]
Former Koss Corp. executive Sachdeva sentenced to 11 years in prison [MJS]
SEC Charges Two Accounting Professionals at Milwaukee-Based Company with Fraud [SEC]
Koss sues former executive, auditor over alleged embezzlement [MJS]
Koss settles claims against former auditor Grant Thornton [MJS]
Sachdeva out of prison after serving six years for stealing $34 million from Koss Corp. [MJS]
Koss family around $30 million from Reddit-fueled stock market frenzy -- more than the company was worth at the end of 2020 [MJS]
Koss Corporation 10-K YE June 30, 2022 [SEC]
John C. Koss, Stereo Headphone Innovator, Is Dead at 91 [NYT]
Chapter 7 versus Chapter 11: Know the Difference — Investopedia

Fruitcake Is a Crime | The Case of Collin Street Bakery

Caleb Newquist — Tue, 20 Dec 2022 09:00:00 -0800

Thank you to our sponsor, Xero
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Caleb Newquist
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LinkedIn: https://www.linkedin.com/in/calebnewquist/

EMAIL : ohmyfraud@earmarkcpe.com

Sources:

The Sandy Jenkins Embezzlement Scandal [Collin Street Bakery, March 2022]

IN THE MATTER OF THE MARRIAGE OF KAY JENKINS AND SANDY JENKINS [Navarro County Texas]

Sticky Fingers/Life in the Fraud Lane [American Greed]

Kay Jenkins seeks divorce [Corsicana Daily Sun, August 15, 2013]

Just Desserts — Texas Monthly 01/2016

Diamond Sandy: Jenkin’s jewelry bills were out of this world — Corsicana Daily Sun 11/13/2013

Corsicana home of Sandy Jenkins goes on market — Corsicana Daily Sun 02/21/2014

Jenkins details luxury lifestyle — Corsicana Daily Sun 05/06/2014

Ex-fruitcake executive sentenced for embezzling $17 million — Daily Mail 09/19/2015

The $50,000-a-year bakery employee who stole $16M from from work — Daily Mail 03/14/2024

Former Collins Street Bakery Executive and Wife Sentenced — FBI 09/16/2015

Wife of Former Executive at Collins Street Bakery Pleads Guilty — DOJ 06/01/2015

Ex-Texas Fruitcake Executive Sentenced for $16.6 Million Fraud — NBC News 09/17/2015

$17 million stolen from famous fruitcake bakery — Weatherford Democrat 07/25/2013

Fruitcake executive sentenced to 10 years — NY Daily News 09/17/2015

Collin Street Bakery — Wikipedia

Utah Wage Garnishment Laws — NOLO

Meet the Fraud Investigator: Tracy Coenen

Caleb Newquist — Fri, 02 Dec 2022 13:00:00 -0800

When she was growing up, Tracy Coenen wanted to be a prison warden. It didn’t quite work out that way, but she still deals with bad guys on a daily basis. Caleb and Greg talk with Tracy about interning with the IRS, how she made it as a forensic accountant, and why “You knew I was an idiot when you married me” is not a valid excuse when getting divorced.

SPONSORS
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Learn about the Divorce Money Guide : https://www.fraudcoach.com/divorcemoneyguide

Connect with Tracy Coenen :

Instagram : https://www.instagram.com/divorcemoneyguide

Linkedin : https://www.linkedin.com/in/tracycoenen

https://www.sequenceinc.com/

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Fraud Bytes | The Case of MiniScribe Corporation

Caleb Newquist — Fri, 18 Nov 2022 11:00:00 -0800

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Caleb Newquist
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LinkedIn: https://www.linkedin.com/in/calebnewquist/

EMAIL : ohmyfraud@earmarkcpe.com

Sources:

Oral History of Terry Johnson [Computer History Museum]
Oral History of John Squires [Computer History Museum]
Miniscribe 2012 Brochure [Internet Archive]
Great frauds in history: Quentin Thomas Wiles and MiniScribe [MoneyWeek]
One of the Biggest Frauds in Tech History - The Miniscribe Fiasco [YouTube]
United States v. Wiles [CaseText]
MINISCRIBE REPORT DESCRIBES 'MASSIVE FRAUD' [WaPo]
Fraud Is Cited at Miniscribe [AP]
Panel Alleges ‘Massive Fraud’ Committed by Ex-MiniScribe Officials [Reuters]
Maxtor Acquires Miniscribe Assets [Reuters]
Large Award in Miniscribe Fraud Suit [NYT]
A $128.1 Million Settlement Reached in Miniscribe Case [AP]
Wiles Convicted of Fraud in MiniScribe Case [LAT]
Terry Johnson, founder of Longmont’s MiniScribe, found dead in Canada [DC]

Meet the Fraud Professor: Kelly Richmond Pope of DePaul University

Caleb Newquist — Fri, 04 Nov 2022 14:00:04 -0700

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Pre-order Kelly's new book! : https://www.barnesandnoble.com/w/fool-me-once-kelly-richmond-pope/1142043652?ean=9781647823917

Connect with Kelly : Kelly Richmond Pope

LinkedIn: https://www.linkedin.com/in/kelly-richmond-pope-cpa-83689a5/
Twitter: https://twitter.com/kellyrpope
Kelly's TEDx Talk https://www.ted.com/talks/kelly_richmond_pope_how_whistle_blowers_shape_history?language=en
All the Queen's Horses - Website: https://www.allthequeenshorsesfilm.com/
All the Queen's Horses - YouTube: https://youtu.be/dpr2A3S3CNk

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EMAIL : ohmyfraud@earmarkcpe.com

PEO Fraud Is Bigger In Texas

Caleb Newquist — Fri, 21 Oct 2022 15:28:43 -0700

A Word from Our Sponsors

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*Caleb here: Neither Greg and I are from Texas and clearly neither of us looked at a map of Texas before we recorded this podcast. Then you look at a map, and San Antonio isn’t really in west Texas. It’s more like south-central Texas. Apologies to west Texas. Or maybe to San Antonio? Either way, no one there is paying state income tax.

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Greg Kyte, CPA
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Caleb Newquist
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LinkedIn: https://www.linkedin.com/in/calebnewquist/

EMAIL : ohmyfraud@earmarkcpe.com

Sources :

Local employment firms accused in $66 million tax fraud [MySA]

Patrick Mire, 1/24/2011

Guilty plea in $70 million fraud case in S.A. [MySA]

Patrick Mire, 11/3/2011

Former executive indicted in $110 million tax fraud [MySA]

John Bean, 8/20/2012

Pircher guilty plea [DOJ]

11/21/2013

Kimes guilty plea [DOJ]

1/16/2014

Sentences for Bean, Mire, Solis, and Walker [DOJ]

2/21/2014

San Antonio Businessmen Sentenced to Federal Prison for Fraud and Tax Scheme Involving More Than $130 Million in Real-Dollar Losses [FBI] Pircher and Kimes sentencing, 4/15/2014

Ringleaders of $133M fraud headed to prison [SAEN]

Professional Employer Organization: Wikipedia.org

Ringleader guilty in S.A.’s largest ever fraud case: MYSA

Are you personally liable for your company’s payroll taxes?: Friedman LLP

Can the IRS pierce the corporate veil?: Dale S. Goldberg, CPA

Criminal Tax Manual [DOJ]

Meet the Whistleblower Lawyers: Jason Zuckerman and Matt Stock

Caleb Newquist — Fri, 07 Oct 2022 11:47:08 -0700

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____________________________________________________

CONNECT WITH THE GUESTS :

https://www.zuckermanlaw.com/

JASON ZUCKERMAN

jzuckerman@zuckermanlaw.com

Matthew Stock, CPA, CFE

mstock@zuckermanlaw.com

________________________________________________
CONNECT WITH THE HOSTS

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EMAIL : ohmyfraud@earmarkcpe.com

There’s No Fraud like Show Business Fraud

Caleb Newquist — Fri, 23 Sep 2022 11:12:49 -0700

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CONNECT WITH THE HOSTS

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EMAIL : ohmyfraud@earmarkcpe.com
___________________________________________________

Sources:

A rising actor, fake HBO deals and one of Hollywood’s most audacious Ponzi schemes [LAT]
SXSW: 1inMM, Alebrije Team to Form One Key Entertainment [Variety]
Hollywood grifter: the actor who took Tinseltown for a Ponzi scheme ride [The Guardian]
RISE AND SHINE: ZACH AVERY TALKS ABOUT SHOW BUSINESS, FATHERHOOD, AND WHAT IT TAKES TO FOLLOW YOUR PASSION [Swagger]
How Actors Zach Avery & Phil Haus, Thrive and Succeed As Celebrity Turned Entrepreneurs [Medium]
USA v. Zachary J. Horowitz [Criminal Complaint/PDF]
SEC Obtains Emergency Asset Freeze, Charges Actor with Operating a $690 Million Ponzi Scheme [SEC Press Release]
SEC v. Zachary Horwitz [SEC Complaint]
Beverlywood Man Arrested for Allegedly Bilking Investors by Falsely Claiming to License Latin American Film Rights to Netflix and HBO [DOJ]
Beverlywood Man Pleads Guilty to Securities Fraud, Admitting Massive Ponzi that Falsely Claimed to License Foreign Film Rights [DOJ]
L.A. Man Sentenced to 20 Years in Federal Prison for $650 Million Ponzi Scheme that Falsely Claimed to License Foreign Film Rights [DOJ]
Zach Avery [IMDB]

Remembering Crazy Eddie with Journalist Gary Weiss

Caleb Newquist — Fri, 09 Sep 2022 16:00:00 -0700

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Thank you to our sponsor, LiveFlow : to learn more about LiveFlow and how you can save 20% off your first 3 months go to https://ohmyfraud.promo/liveflow

________________________________
Connect with Gary Weiss :
Twitter : https://twitter.com/gary_weiss
Buy Garry's Book : Retail Gangster
Website : https://www.gary-weiss.com/

________________________________

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EMAIL : ohmyfraud@earmarkcpe.com

______________________________________

Transcript available upon request

Unpayday | The Case of MyPayrollHR

Caleb Newquist — Fri, 19 Aug 2022 14:01:30 -0700

SPONSORS

Dark Horse CPA https://ohmyfraud.promo/darkhorsecpa

REFERENCES

Clifton Park payroll company abruptly shuts down, leaves thousands scrambling [Albany Business Review]
NY Payroll Company Vanishes With $35 Million [Krebs on Security]
Missing Paychecks Leave Small Businesses Scrambling [WSJ]
Owner of Payroll Processor Charged With Committing $70 Million Fraud [WSJ]
Employers scramble after payroll company allegedly diverts $35 million from employees [CBS News]
$26 Million in Missing Paychecks, One Mysterious Swindler Charged [NYT]
Michael Mann Charged with Bank Fraud [DOJ]
ValueWise CEO Michael Mann Pleads Guilty to $100 Million Fraud [DOJ]
[Daily Mail]
MyPayrollHR debacle: Who is Michael Mann? [Times Union]
U.S. v. Michael Mann [Complaint via Krebs on Security]
MyPayrollHR CEO begins prison sentence [WNYT]
Minnesota Man Pleads Guilty to Conspiring with Michael Mann to Defraud Financing Companies [DOJ]
Texas Man Charged with Conspiring with Michael Mann to Defraud Lenders [DOJ]
Documents show how MyPayrollHR owner tried to cover up $100M fraud [Times Union]

A WORD FROM OUR SPONSOR
Dark Horse CPAs has built a platform-style CPA firm that will transform your practice. It has the technology, resources, staffing, qualified inbound leads, and community that will enable you to spend your time growing your practice, serving clients and doing more of what you love. Learn more at abetterway.cpa
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EMAIL : ohmyfraud@earmarkcpe.com

______________________________________

Transcript available upon request

Double, Double Oil and Trouble | The Salad Oil Scandal

Caleb Newquist — Fri, 05 Aug 2022 10:00:00 -0700

SPONSORS

Dark Horse CPA https://ohmyfraud.promo/darkhorsecpa

REFERENCES

Wikipedia: Salad Oil Scandal: https://en.wikipedia.org/wiki/Salad_Oil_scandal
Best Frauds in History: Tino De Angelis’ salad-oil scam: https://moneyweek.com/investments/investment-strategy/601677/great-frauds-in-history-tino-de-angelis-salad-oil-scandal
How Salad Oil Amost Crashed the U.S. Economy: https://medium.com/@madmedic11671/how-salad-oil-almost-crashed-the-u-s-economy-c3ed3c2cb797
The Vanishing Salad Oil: A $100 Million Mystery: https://www.nytimes.com/1964/01/06/archives/the-vanishing-salad-oil-a-100-million-mystery.html
The Great Vegetable-Oil Mystery; Scandal, Now One Year Old, Remains a Financial Maze: https://www.nytimes.com/1964/11/15/archives/the-great-vegetableoil-mystery-scandal-now-one-year-old-remains-a.html
Salad Oil Swindle! https://nymag.com/news/features/scandals/salad-oil-2012-4/
Investopedia: Salad Oil Scandal: https://www.investopedia.com/terms/s/saladoilscandal.asp
How The Salad Oil Swindle Of 1963 Nearly Crippled the NYSE: https://www.businessinsider.com/the-great-salad-oil-scandal-of-1963-2013-11
TIME: The Man Who Fooled Everybody: https://web.archive.org/web/20071015042003/http://www.time.com/time/magazine/article/0,9171,898315,00.html
ACFE 2022 Report to the Nations: https://legacy.acfe.com/report-to-the-nations/2022/

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Greg Kyte, CPA
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LinkedIn: https://www.linkedin.com/in/calebnewquist/

EMAIL : ohmyfraud@earmarkcpe.com

______________________________________

Transcript available upon request

A Plethora of Pandemic PPP Fraud

Caleb Newquist — Fri, 22 Jul 2022 12:58:35 -0700

SPONSORS

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REFERENCES

Complaint against David T. Hines
DOJ press release for charges against David T. Hines.
DOJ press release for guilty plea of David T. Hines
DOJ press release for sentencing of David T. Hines
How Bad Was Virus Aid Fraud? One Banker Was ‘Frustrated With Humanity’ [NYT]
The $800 Billion Paycheck Protection Program: Where Did the Money Go and Why Did it Go There? [NBER]
Did FinTech Lenders Facilitate PPP Fraud? [via NYT]
'Biggest fraud in a generation': The looting of the Covid relief plan known as PPP [NBC]
Tarzana Couple flees while under house arrest for PPP fraud — LA Times
Three fugitives captured in Montenegro - NBC News

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______________________________________________________

Full transcript available upon request

Meet the Fraud Professor: Daniel J. Taylor of The Wharton School

Caleb Newquist — Fri, 08 Jul 2022 15:00:00 -0700

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REFERENCES

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CONNECT WITH DAN :

Dan's Wharton's Forensics Lab

Dan's Twitter : https://twitter.com/profanalytics

CONNECT WITH THE HOSTS

Greg Kyte, CPA
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EMAIL : ohmyfraud@earmarkcpe.com

______________________________________

Transcript available upon request

A Priest, Rabbi, and a Nun Walk Into a Fraud

Caleb Newquist — Fri, 24 Jun 2022 15:00:00 -0700

SPONSORS

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REFERENCES

● 10 Practices That Safeguard Your Church Against Embezzlement - Smart Church Management
● Nun who admitted to stealing more than $835K from Torrance Catholic school gets 1 year in prison - KTLA
● Bakker Is Convicted on All Counts; First Felon Among TV Evangelists - NY Times
● Bakker Sentenced to 45 Years For Fraud in His TV Ministry - NY Times
● Televangelist Jim Bakker is indicted on federal charges - History.com
● The Shady Side of Jim Bakker - Nicki Swift on Youtube

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LinkedIn: https://www.linkedin.com/in/calebnewquist/

EMAIL : ohmyfraud@earmarkcpe.com
____________________________

The Golden Girls Rush | The Case of Four Seasons Nursing Centers of America

Caleb Newquist — Fri, 10 Jun 2022 16:20:22 -0700

SPONSORS
Thank you to our sponsor, Xero
To learn more go to http://ohmyfraud.promo/xero

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REFERENCES

U.S. INDICTS EIGHT IN SALE OF STOCK IN NURSING HOMES [NYT]
YEAR IN JAIL GIVEN FOR STOCK FRAUD [NYT]
2 Ex‐Walston Officers Plead Guilty to a Fraud [NYT]
$40,000 FINES SET IN 4 SEASONS CASE [NYT]
3 Found Not Guilty Of Securities Fraud In 4 Seasons Case [NYT]
INVESTMENT: Golden-Age Fraud [TIME]
Great frauds in history: Jack Clark’s nursing homes [MoneyWeek]
FOUR SEASONS NURSING CENTERS OF AMERICA, INC. [Case Study]
Stocks Of The Fevered Fifty Publicly Traded Nursing Home Companies Soar, Then Crash [SeniorLiving.org]

Before Medicare, nursing homes were often just old motels or converted bowling alleys. But after the landmark program became the law of the land, money flooded the industry and along with it, wildcatters looking to strike it rich. One early player, Four Seasons Nursing Centers of America, boomed and busted in spectacular fashion and at the center of it: fraud.

Aloha Fraud | The CPA Who Ripped Off His Own Firm

Caleb Newquist — Fri, 27 May 2022 14:59:38 -0700

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REFERENCES

Hawaii accounting firm partner gets 20 years for for stealing $400K from company - Honolulu Star Advertiser
'He is an evil person': Victims of top CPA convicted of fraud urge tough sentence — Hawaii News Now
State v. Oki — Casemine
Prosecutors reveal details of theft investigation into Patrick Oki — KHON2
2020 ACFE Report to the Nations - ACFE

In this episode, Caleb and Greg discuss the case of Patrick Oki, the managing partner of PKF Pacific Hawaii, who swiped over $400,000 from his own firm. It’s just another fraud… in paradise.

Severely Disorganized Crime | The Case Known as 'Pappygate'

Caleb Newquist — Fri, 13 May 2022 17:26:42 -0700

SPONSORS
Thank you to our sponsor, Xero
To learn more go to http://ohmyfraud.promo/xero

Bookstime https://ohmyfraud.promo/bookstime

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REFERENCES

Inside the Great Pappy Van Winkle Bourbon Heist - thrillist.com
The Real Story Behind “Bourbon King” Toby Curtsinger from Netflix’s Heist - menshealth.com
How a Kentucky Dad Pulled Off One of the Biggest Bourbon Burglaries in History - bustle.com
Netflix documentary series Heist

__________________________________-
The bourbon distilling industry in Kentucky is rich with tradition, which includes employees helping themselves to bottles of rare whisky whenever they feel like it. In this episode, Caleb and Greg discuss the infamous caper known as Pappygate. Booze, guns, slow pitch softball, and …horrendous inventory controls.
____________________________________

The Golden Age of Fraud | An Interview With Francine McKenna

Caleb Newquist — Fri, 29 Apr 2022 17:58:06 -0700

SPONSORS
Thank you to our sponsor, Xero
To learn more go to http://ohmyfraud.promo/xero

Bookstime https://ohmyfraud.promo/bookstime

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REFERENCES

https://www.ft.com/content/bd138302-9ea6-11e0-9469-00144feabdc0
https://www.wsj.com/articles/SB117461651648146411

https://pcaob-assets.azureedge.net/pcaob-dev/docs/default-source/news/events/documents/11152012_sagmeeting/2012_11_15_-sag_bp_-fraud.pdf?sfvrsn=e979a5fb_0

https://thedig.substack.com/p/busting-the-myth-about-auditors-and

https://twitter.com/retheauditors

If you’ve spent any time in the last 15 years employed by a Big 4 audit firm, you’ve almost certainly read Francine McKenna’s writing. In the late 2000s, her blog, Re: The Auditors, relentlessly chronicled the blunders and, in some cases, malfeasance of the largest global audit firms. Francine was the transparency reporter for MarketWatch from 2015 to 2019. Her journalism has appeared in Forbes, American Banker, the Financial Times, and elsewhere.

Enjoy this freewheeling episode of Oh My Fraud, where Caleb and Greg talk to Francine about many topics, including auditing in a pandemic, Big 4 impunity, and why we’re in the Golden Age of Fraud.

NFTs...WTF?

Caleb Newquist — Wed, 23 Mar 2022 16:31:37 -0700

SPONSORS

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REFERENCES

NFTs, explained [The Verge]
Bored Ape Yacht Club NFT theft shows the ease of hacking crypto [Protocol]
Non-fungible tokens [Ethereum]
Beeple’s Opus [Christie’s]
Icebreakers With...Bloomberg Columnist Matt Levine [Morning Brew]
Bored Ape Yacht Club: What you need to know about the NFT collection [CNET]
NFT hack sees collector lose $2.2 million of ‘Bored Ape’ pictures [Independent UK]
Man Upset That Hackers Stole His Bored Ape NFTs [Vice]
Fake Banksy NFT sold through artist's website for £244k [BBC]
Investors Spent Millions on ‘Evolved Apes’ NFTs. Then They Got Scammed. [Vice]
Booming NFT art market plagued by 'mind-blowing' fraud [Thomson Reuters]
DeFi ‘Rug Pull’ Scams Pulled In $2.8B This Year: Chainalysis [CoinDesk]
How NFTs became a $40bn market in 2021 [FT]

A WORD FROM OUR SPONSOR

Thank you to our sponsor, Avalara. Avalara’s award-winning tax automation solutions help accounting practitioners and businesses of all sizes simplify sales tax compliance and with real-time rates, automated returns filing, and more.

In October 2021 IDC MarketScape named Avalara a Leader in tax automation in three categories (small and midsize business, enterprise, and VAT). If you’re considering tax automation, check out the independent IDC evaluations at http://OMF.show/avalara

Learn more about Avalara for Accountants and you’ll get a free gift: meet with an expert to explore how Avalara can help your accounting practice grow, and you’ll receive a $50 gift card. Contact Avalara at Accountants@Avalara.com, and mention the code “Fraud”

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Greg Kyte, CPA
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The Devil Made Me Do It (So I Could Pay for Bible School)

Caleb Newquist — Wed, 09 Mar 2022 05:00:00 -0800

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REFERENCES

Ex-Firefighter Pleads Guilty to Embezzlement — Richmond County Daily Journal

https://www.yourdailyjournal.com/archive/7120/news-news-152470852-ex-firefighter-pleads-guilty-to-embezzlement

Report to the Nations: 2020 Global Study on Occupational Fraud and Abuse — ACFE

https://www.acfe.com/report-to-the-nations/2020/

Man Charged With Stealing $300K From N.C. Dept — firehouse.com

https://www.firehouse.com/leadership/news/10457683/man-charged-with-stealing-300k-from-nc-dept

Murderer, Manipulator, or Do-Gooder? The Many Sides of James Rupard — Emiliano Morrone

https://www.emilianomorrone.eu/murderer-manipulator-or-do-gooder-the-many-sides-of-james-rupard/

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Greg Kyte, CPA
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With Great Check Writing Power Comes Great Responsibility

Caleb Newquist — Tue, 22 Feb 2022 22:59:48 -0800

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REFERENCES

Lessons from an $8 million fraud — Journal of Accountancy
https://www.journalofaccountancy.com/issues/2014/aug/fraud-20149862.html

Report to the Nations 2020 — ACFE
https://www.acfe.com/report-to-the-nations/2020/

Nathan Mueller’s LinkedIn profile — LinkedIn
https://www.linkedin.com/in/nathan-mueller-b87111b4/

The 2013 Marquet Report on Embezzlement — Chris Marquet
http://mediad.publicbroadcasting.net/p/vpr/files/The_2013_Marquet_Report_On_Embezzlement.pdf

Mueller gets 8 years for $8.5 million ING fraud [MST]
https://www.startribune.com/mueller-gets-8-years-for-8-5-million-ing-fraud/37479859/

Eden Prairie Man Sentenced to 97 Months for Defrauding His Employer [FBI]
https://archives.fbi.gov/archives/minneapolis/press-releases/2009/mp_011309a.htm

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Don't Look a Fraud Horse in the Mouth | The Case of Dixon, Illinois

Caleb Newquist — Tue, 08 Feb 2022 14:13:32 -0800

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REFERENCES

All the Queen’s Horses Documentary — Kelly Richmond Pope

https://www.youtube.com/watch?v=tS1T3IwOQSs

Lessons learned from shocking municipal fraud cases — CPA Insider

https://www.journalofaccountancy.com/newsletters/2018/oct/lessons-learned-municipal-fraud-cases.html

FBI press release — indictment

https://archives.fbi.gov/archives/chicago/press-releases/2012/federal-indictment-charges-former-dixon-comptroller-rita-crundwell-with-engaging-in-53-million-fraud-since-1990

Dixon’s quiet hero — Fraud Magazine

https://www.fraud-magazine.com/article.aspx?id=4295003585

DOJ sentencing press release

https://www.justice.gov/usao-ndil/pr/former-dixon-comptroller-rita-crundwell-sentenced-nearly-20-years-federal-prison-537

Rita Crundwell and the Dixon Embezzlement - Chicago Magazine

https://www.chicagomag.com/Chicago-Magazine/December-2012/Rita-Crundwell-and-the-Dixon-Embezzlement/

Rita Crundwell stole $54 million then returned to the scene of the crime - WGN

https://wgntv.com/news/wgn-investigates/rita-crundwell-stole-54-million-then-returned-to-the-scene-of-the-crime/

How one of the biggest swindlers in American history built a horse breeding empire - LA Times

https://www.latimes.com/nation/la-na-horse-swindler-crundwell-20151030-story.html

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Friends With Mutual Benefits | The Mother of All Florida Ponzi Schemes

Caleb Newquist — Tue, 25 Jan 2022 10:00:00 -0800

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REFERENCES

CNBC’s American Greed Episode: “Friends Without Benefits”
https://www.cnbc.com/video/2015/10/19/american-greed-friends-without-benefits.html

MBC’s Wikipedia: https://en.wikipedia.org/wiki/Mutual_Benefits_Corporation

Viatical Settlements: https://en.wikipedia.org/wiki/Viatical_settlement

U.S. SECURITIES AND EXCHANGE COMMISSION Litigation Release No. 18698 / May 6, 2004

https://www.sec.gov/litigation/litreleases/lr18698.htm

2020 ACFE Report to the Nations: https://www.acfe.com/report-to-the-nations/2020/

UNITED STATES DISTRICT COURT

SOUTHERN DISTRICT OF FLORIDA

CASE NO. 04-60573-CIV-MORENO/SIMONTON https://www.sec.gov/litigation/complaints/comp19274.pdf

South Florida Mastermind of $1 billion-plus swindle sentenced …

https://www.miamiherald.com/news/local/community/miami-dade/article1984194.html

Great frauds in history: Joel Steinger and the Mutual Benefits Corporation

https://moneyweek.com/519573/great-frauds-in-history-joel-steinger-and-the-mutual-benefits-corporation

Former Mutual Benefits Corporation Head Sentenced To 20 Years In Prison For His Role In $1 Billion MBC Scheme

https://www.justice.gov/usao-sdfl/pr/former-mutual-benefits-corporation-head-sentenced-20-years-prison-his-role-1-billion

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Printer Toner Pirate King

Caleb Newquist — Tue, 11 Jan 2022 10:00:00 -0800

SPONSORS

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REFERENCES

HOW TO EARN FREE CPE

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CONNECT WITH THE HOSTS

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