• Marketing Fraud: Why Multi-Level Marketing Pyramids and Financial Ponzis are Ignored By Law Enforcement

    Dear Colleagues, Consumers and Pyramid Scheme Alert Supporters, A new essay recently posted on the False Profits Blog addresses a question many of you  have raised. Why are multi-level marketing pyramids and financial ponzis able to ensnare so many people […]

  • Sachdeva and Koss Corp.: The Indictment, the Clothes, and the Auditors

    The case of the alleged theft of at least $31 million by Sue Sachdeva from Koss Corp. (NASDAQ:KOSS) carries on. Last week, Sachdeva was charged with 6 counts of wire fraud. Experts are saying this indictment came much faster than […]

  • Accountants Who Focus on Fraud

    Milwaukee Journal Sentinel By Rick Romell Tracy Coenen was a criminology major at Marquette University when a class on investigating financial crimes sparked her interest in forensic accounting – a field she had never heard of until then. She started […]

  • The Move to IFRS: All About Greed

    Professor David Albrecht wrote a great piece today about the push to move from U.S. GAAP (Generally Accepted Accounting Principles) to IFRS (International Financial Reporting Standards). His conclusion? The push to switch is motivated purely by greed. Accounting standards exist […]

  • Usana Health Sciences Knows it Products are Being Sold Illegally in China

    Almost three years ago, Barry Minkow and Fraud Discovery Institute released a report on Usana Health Sciences (NSDAQ:USNA), listing ten red flags of fraud he and his team (which included me) uncovered about the company. The report criticized the company’s […]

  • Koss Corp.: Commit the Fraud and Cover It Up

    I’ve been talking here, at DailyFinance.com, and to the media about the massive fraud at Koss Corp. and how I think it may have been committed and covered up. The time has come to get more specific about how I […]

  • Stories on Koss Corp. Fraud

    Here’s the list of news stories related to the fraud by Koss VP of Finance Sue Sachdeva which I’ve written or been quoted in: Accountants cite lessons learned in Koss scandal Koss Corp: Anatomy of an Alleged $31 Million Fraud […]

  • Accountants Cite Lessons Learned in Koss Scandal

    Eric Decker – BizTimes.com How could one corporate executive make more than $30 million in unauthorized transactions over four years without anyone else on the company’s leadership team or its third-party accounting firm being aware of the embezzlements? That is […]

  • Koss Corp. Fraud: Defending Grant Thornton? No.

    I have been criticized for “defending” Grant Thornton, the auditors of Koss Corp, which has suffered a fraud loss of at least $31 million at the hands of the company’s Vice President of Finance, Sue Sachdeva. In fact, my comments […]

  • Medifast Continues to Mislead Shareholders

    UPDATE: On February 17, 2010, Medifast Inc. filed suit in US District Court, Southern District of California, alleging defamation, violation of California Corporations Code, and unfair business practices. On March 29, 2011, Judge Janis Sammartino dismissed all of Medifast’s claims […]