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Man Collects 50 BMWs but Loses Wife, Kids, and Freedom

Inside a strange addiction to German automotive engineering

(Newser) - Terrance's addiction cost him his family, job, and home. But it wasn't a need for drugs, or alcohol, or gambling that landed the Colorado accountant in a psychiatric hospital and high-security prison; it was an addiction to BMWs, Jalopnik reports in an unbelievable piece on the incredible lure... More »

Judge One-Ups Prosecutors in Sentencing Alanis' Manager

Jonathan Schwartz gets 6 years for embezzling, instead of 5 they sought

(Newser) - The business manager who stole millions from Alanis Morissette is going to prison. A judge in Los Angeles sentenced Jonathan Schwartz on Wednesday to six years, longer than prosecutors had sought, reports the AP . "I will spend the rest of my life asking for forgiveness," said Schwartz, who... More »

Officials: Ex-City Worker Stole $3.7M From Parking Tix, Fees

Prosecutors say former Compton deputy treasurer embezzled over 6-year period

(Newser) - On any given day on the job as Compton's deputy treasurer, Salvador Galvan quietly lopped between $200 and $8,000 off the top of municipal fees he collected for the California city, prosecutors say, per the Los Angeles Times . He wasn't busted until December, after a co-worker saw... More »

'Trial of the Century' Begins in S. Korea

It'll be fierce, if first hearing is any indication

(Newser) - The "trial of the century" has begun in South Korea, where a vice chairman at Samsung Electronics faces bribery and embezzlement charges after allegedly giving $36 million to President Park Geun-hye and her close friend Choi Soon-sil in order to win government support for a 2015 merger. Lee Jae-Yong,... More »

Manager Admits Stealing $4.8M From Alanis

He claimed to have invested in pot grow-ops

(Newser) - What's worse than rain on your wedding day? How about getting scammed for nearly $5 million by your business manager? Alanis Morissette's former manager Jonathan Todd Schwartz, 48, admitted in a plea deal Wednesday that he embezzled $4.8 million from the Canadian singer and $1.7 million... More »

Man Stole $5M, Blew $1M in Head-Scratching Way

Kevin Lee Co spent it on Game of War, a free mobile phone game

(Newser) - At first glance, it's a rather unsexy business crime: A California man on Thursday pleaded guilty to embezzling $4.8 million from his heavy-equipment-dealer employer. But Kevin Lee Co of Rocklin is making headlines for what he admitted to doing with the cash, a revelation that came as part... More »

Va. Mom Who Disappeared in Nov. Is Found, Arrested

Crystal Griffin Redd picked up in Georgia; money had gone missing from her work

(Newser) - Fortunately, a Virginia mom missing for nearly two months was found safe on Tuesday, both her family and Blackstone police confirm to WTVR . Unfortunately, Crystal Griffin Redd was arrested by the Georgia police who discovered her, as she was wanted for embezzlement back in her hometown. Redd vanished on Nov.... More »

Fruitcake Exec Punished for Wild Embezzlement

Sandy Jenkins defrauded bakery to fund seriously lavish lifestyle

(Newser) - A former comptroller at Collin Street Bakery in Corsicana, Texas—famous for its fruitcakes—will have to go without as he spends the next 10 years behind bars. Prosecutors say Sandy Jenkins, 66, ran "a massive scheme to defraud" the bakery and forged 888 checks from December 2004 until... More »

Cops: Social Worker Killed to Cover Up Embezzlement

He told reporters he was 'stunned' by co-worker's death

(Newser) - In a case that Philadelphia police say has left them "angry and confounded," a social worker allegedly gunned down a colleague in broad daylight after she discovered that he had embezzled tens of thousands of dollars from an after-school outreach program. Police say Randolph Sanders has confessed to... More »

Iran Hangs Figure in Massive Bank Fraud

He was convicted in $2.6B embezzlement scheme

(Newser) - Iran has its own way of dealing with bank fraud: hanging. State media announced today that a businessman convicted in the nation's biggest embezzlement case was executed today in prison, reports the BBC . Mahafarid Amir-Khosravi was one of four sentenced to death in the case, in which he and... More »

Women Conspire to Scam Woman, Cat Out of $450K

By the time authorities intervened, victim had just $2.16 in bank account

(Newser) - An elderly Boston woman and her beloved tabby named Puddy Cat are out $450,000 in cash and property after making the wrong kind of friends. Randi Berkowitz, 63, and Patricia DiGiacomo, 58, are charged with more than 60 counts of embezzlement, larceny, and intimidation after they cleaned the 74-year-old... More »

'Dead' Banker: My Family Had No Idea I Was Alive

Aubrey Lee Price had apparently been homeless, took odd jobs for cash

(Newser) - A routine traffic stop on Tuesday in Georgia ended Aubrey Lee Price's time on the run, and what happened during his days as a fugitive became a little more clear on Thursday. That's when Price, 47, appeared in federal court over allegations that he embezzled $21 million from... More »

'Dead' Man Caught After 18 Months on the Run

Tinted car windows did Aubrey Lee Price in

(Newser) - Things that happened to banker Aubrey Lee Price in 2012: The FBI started looking for him, and he apparently convinced his family (and a judge) that he had offed himself. The convoluted case took a big turn on Tuesday, though, when a Dodge Ram was stopped in Brunswick, Ga., due... More »

'Fairy Godmother' Charged With Stealing $5.1M

Ephonia Green allegedly embezzled from nonprofit

(Newser) - Ephonia Green has been called a "fairy godmother": Over the past five years, she's given away 275 wedding gowns from her Maryland bridal shop to military brides. But, uh, since 2005, she's also allegedly been doing something else: stealing millions from a nonprofit organization. Green is accused... More »

Corruption Trial Looms for China's Bo Xilai

Former pol accused of bribery, embezzlement

(Newser) - Nearly a year after his wife was sentenced in the death of a British businessman, former top Chinese politician Bo Xilai is headed for a trial of his own. He has been charged with corruption, bribery, embezzlement, and abuse of power, the BBC reports. The charges accuse Bo of using... More »

Mexico Arrests Its 'Most Powerful Woman'

Elba Esther Gordillo accused of embezzling millions from union workers

(Newser) - She's known as Mexico's most powerful woman, and she's currently sitting in prison. Elba Esther Gordillo was arrested on corruption charges last night after landing near Mexico City in a private plane, reports the AP . It's things like private planes that appear to be the problem:... More »

Ground Zero Mosque Imam Embezzled Millions: Lawsuit

Feisal Abdul Rauf allegedly used charity cash for swanky lifestyle

(Newser) - The former imam for the much-maligned mosque near Ground Zero embezzled millions of dollars from his charity, a $25 million lawsuit alleges. Feisal Abdul Rauf, ousted two years ago from the mosque, used the money to fund a luxury lifestyle, including gifts and support for a woman outside his marriage,... More »

Iowa CEO Pleads Guilty in $100M Fraud

Peregrine Financial boss Russell Wasendorf faces 24 years in jail

(Newser) - The CEO of Iowa's Peregrine Financial Group has pleaded guilty to fraud, including embezzling $100 million from 24,000 customers in the state over the course of 20 years. Russell Wasendorf Sr., who had been known for his generosity to universities, health care systems, and other institutions, could see... More »

As Strapped Town Closed Pool, Treasurer Stole $30M

Trusted comptroller was champion embezzler, say investigators

(Newser) - The people of Dixon in Illinois thought comptroller Rita Crundwell funded her lavish lifestyle through her successful horse-breeding operation. But investigators say she did it by robbing the small city blind. Crundwell, Dixon's finance chief since the early '80s, has been arrested and accused of embezzling more than... More »

Church Bookkeeper Accused of Stealing More Than $1M

Anita Collins siphoned money from Archdiocese of New York: cops

(Newser) - New York police arrested a Bronx woman today for embezzling more than $1 million from the Archdiocese of New York, the New York Daily News reports. Prosecutors say the plain-looking Anita Collins, 67, spent lavishly at Bloomingdale's, Barney's, and Brooks Brothers during her nine-year stint at the archdiocese.... More »

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