White Collar Crime

Find the latest news on a full range of frauds committed by business professionals and government officials, including mortgage fraud, securities fraud and heath care fraud.

Dec 23, 2010

A California woman has been arrested after authorities discovered that she had embezzled more than $150,000 from the architectural firm where she worked, reports the Orange County Register.

Suzanne Denise Baumann, 40, had worked for Scheurer Architects in Newport Beach since 1996.

Dec 14, 2010

A West Palm Beach, Florida woman has been arrested amidst allegations that she embezzled more than $2 million from two properties she managed, according to the Palm Beach Post.

Grace Cromwell, 51, managed Park Place and Melbourne House, two residential buildings, for more than four years.

Dec 3, 2010

A new study commissioned by the National White Collar Crime Center (NWCCC) has found that up to 28 million households in the United States have been affected in some way by white collar crime, reports WBOY.

Some of the more common kinds of white collar crime affecting the victims include credit card fraud and e-mail scams.

"This finding is interesting because it suggests that white collar crime is more pervasive than traditional crime or street crime," NWCCC research associate Rodney Huff told the source.

Many of the white collar crimes detailed in the surv

Nov 22, 2010

The Wall Street Journal reports that federal investigators are preparing charges as they reach the conclusion of a three-year inquiry into insider trading.

According to the source, authorities say that the results of the investigation may have a stronger impact on the financial industry than any similar investigation in the past. Authorities operating the inquiry include the Manhattan U.S.

Nov 12, 2010

The former CEO of Kmart has decided to drop his appeal and pay $5.5 million to settle a lengthy litigation process that has centered around the retailer's financial health prior to its bankruptcy filing in 2002, Bloomberg Businessweek reports.

Last year, a jury found Charles Conaway liable for misleading investors in the company and he was ordered to pay millions of dollars by a federal judge.

However, Conaway and federal regulators have reached a deal in which the former CEO will drop his appeal and finish the case by paying the $5.5 million.