News and analysis on the global fight against fraud
After seven days of deliberations, a jury in California found Theranos founder Elizabeth Holmes guilty on four out of 11 federal fraud charges on January 3, 2022; nearly four years after Holmes and Theranos agreed with the U.S. Securities and Exchange Commission (SEC) to settle civil charges of securities fraud. Each charge carries a maximum prison sentence of 20 years.
Read MoreIn this special episode released during International Fraud Awareness Week, Chris Ekimoff, CFE, CPA/CFF, director of financial investigations and dispute services at RSM and co-host of the inSecurities podcast, and Mandy Moody, CFE, ACFE communications manager, discuss the latest and greatest highlights from the trial of former Theranos CEO Elizabeth Holmes. Chris and Mandy provide background and analysis on the many facets of the Theranos tale, review the implications of the previously-settled matter with the SEC in 2017 and discuss common issues with the legal system regarding allegations of fraud.
Read MoreAlthough the craze over the social networking game FarmVille is over, that didn’t stop 25-year-old Mehmet Aydin from realizing there was still money to be made on virtual farms. Known as Ciftlik Bank in Turkish, Aydin marketed Farm Bank to be a “win as they play, and have fun as they win” game. At first telling users that they were investing real-world money to care for virtual animals, Farm Bank also offered them the opportunity to earn money back on their so-called investments in return for keeping the virtual animals alive.
Read MoreAs fraud examiners know, fraud comes in many varieties and touches every type of business. Some fraud stories defy belief due to the audacity of the fraudsters, the context in which they occur, or both. These seasonally appropriate examples of frightening frauds show that fraudsters will consider any type of trick when it comes to scamming victims.
Read MoreEvery once in a while, a fraud story comes along that leaves us totally befuzzled, either for its hilarious twists and turns, or for the sheer irony of the scheme. We’ve compiled seven of these outlandish tales, so that you might join us in our confusion, laughter and awe.
Read MoreNews and analysis on the global fight against fraud.
Interested in contributing to ACFE Insights? Find out how you can become a featured guest blogger.
©2024 Association of Certified Fraud Examiners, Inc. All rights reserved.
Association of Certified Fraud Examiners, ACFE, Certified Fraud Examiner, CFE and the ACFE logo are trademarks of the Association of Certified Fraud Examiners, Inc.
Powered by Squarespace
