Friday Oct 29 2021
Larry Roberts has pleaded guilty in the Fractac Ponzi factoring scheme.
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Does it not occur to 'investors' to hire a CPA firm to check out who is about to handle their money?
Check this out, a firm in San Antonio claimed to have been in business for thirty years and handle billions of dollars of transactions.
Turns out it was two post office boxes. .Why not hire a CP/a first?
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As per usual he never leased anything but prayed on police officers. Many lost their life savings.
My two cents, I think it has been a mistake for CPAs to become so closely aligned with tax and audit work. If one was going to 'invest' hundreds of thousands in local business, why don't the investor hire a CPA firm for due diligence on the promoter?
I am not sure prison is the right answer here. He will certainly not re pay the lost funds sitting in jail. Better he was supervised in some activity to pay something to his victims.
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Richard Cardenas gets 20 years for bouncing checks.
The checks were written to cover a phony football program. Participants were promised college scouts would recruit the better players. again why didn't the parents check this guy out.
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Good morning. Let's get down to business.
A former head of the Small Business Administration is facing criminal charges in San Antonio that he misappropriated hundreds of thousands of dollars donated to two nonprofits he’s led.
Hector Barreto, who headed the SBA for five years under President George W. Bush, was indicted by a San Antonio federal grand jury on four conspiracy charges, including to commit money laundering and wire fraud.
Barreto, 60, received more than a combined $900,000 from the Latino Coalition Foundation and Hispanic Business Roundtable Institute from 2013 through 2019, according to the indictment. He lives in Orange County, California.
San Antonio health care consultant Miguel Gutierrez, who along with Barreto allegedly had operational control over both nonprofits, was indicted on the same charges. Gutierrez also is charged with four counts of filing false tax returns.
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NFL Players plead guilty to defrauding Health Care Fund
Wed Sept 8, 2021
NFL ringleaders sought players eligible for payments from a special fund.
They then forged fake invoices for equipment and services that never took place.
Gene Upshaw NFL Player Health Reimbursement Account Plan
I thought those guys make pretty good money to start with? 
What Clinton Portis and other ex-NFL players allegedly did
In the original indictment, the trio was part of a group of 12 players accused of submitting false claims for reimbursement for expensive medical equipment that was never purchased, such as hyperbaric oxygen chambers, ultrasound machines that are typically used on pregnant women, and electromagnetic therapy devices used on horses.
The ringleaders would allegedly find ex-players eligible for the program and offer to submit claims, fabricating documents and prescriptions in exchange for kickbacks.
Claims would allegedly be for about $40,000 to $50,000 and were submitted between June 2017 and Dec. 2018, eventually adding up to millions of dollars in fraud.
In addition to the three players who pleaded guilty on Tuesday, 12 other players, including former Pro Bowl wide receiver Joe Horn, have been charged and pleaded guilty.
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Well yea just never know. A sure sign of fraud is someone living a high lifestyle they could otherwise not afford. That was the case for Rita Crundwell.
Now we find a hUSAA banker dealing 20 and 50 kilos of cocaine.
Prosecuting attorneys called this living in plain sight. He had expensive homes, guns, jewelry, the works.
And 50 kilos of cocaine is a lot of cocaine. Once again professional skepticism pays off.
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https://www.etownian.com/sports/former-nba-players-charged-in-health-insurance-fraud-scheme/
NBA Player fraud
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Professor Elam 
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