embezzlement

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Embezzling Suspect Hid for Years on Appalachian Trail

He was on the lam for 6 years after $8.7M vanished

(Newser) - He was known as "Bismarck," a genial, thick-bearded hiker who had become a familiar character along the Appalachian Trail over the past six years and a regular at Susie Montgomery's bed-and-breakfast in a small Virginia town—until the day the FBI showed up. He was in his...

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...

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...

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...

'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...

'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...

'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...

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...

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:...

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,...

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...

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...

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....

Ex-Citigroup VP Charged With Embezzling $19.2M

He allegedly stole more than $19M

(Newser) - Former Citigroup vice president Gary Foster has been charged with embezzling more than $19 million from the company. Foster, 35, was nabbed yesterday at JFK airport in New York, after arriving on a flight from Bangkok, Reuters reports. Prosecutors say that between May 2009 and December 2010, Foster funneled the...

Treasurer's Misdeeds Rock Vermont Town, Pop. 447

Donald Hewitt allegedly embezzled $400K over 30 years

(Newser) - Ira, Vt., is a whisper of a town, with just 447 residents, no school, no downtown, and miles of unpaved roads. So it's an understatement to say the town was abuzz when its mild-mannered treasurer was accused of cooking the books. And they were downright floored when they learned Donald...

Woman Who Embezzled $34M Gets 11 Years

Compulsive shopper had to cover her bills

(Newser) - A woman with a compulsive shopping problem who cooked the books of the company she worked for to pay her bills is going to prison for 11 years. Sujata "Sue" Sachdeva admitted stealing $34 million over 12 years from stereo headphone manufacturer Koss Corp. of Wisconsin while she worked...

Feds Investigate Payments to Ex-LA Labor Leader

SEIU paid disgraced Alejandro Stephens big consulting fee

(Newser) - Federal authorities are investigating $150,000 in consulting fees that LA’s powerful Service Employees International Union paid to its disgraced ex-leader, the LA Times reports. The US Attorney last year considered using the payment as the basis for an embezzlement charge against that leader, one Alejandro Stephens, but decided...

Cops: Priest Used Stolen $1.3M for Male Escorts

Conn. priest lived the high life

(Newser) - A Connecticut Catholic priest spent $1.3 million in stolen church funds on male escorts, Armani suits, and stays at the Waldorf-Astoria, according to law enforcement authorities. Rev. Kevin Gray, until recently a parish priest in Waterbury, also paid the college tuition and rent of two of the young men...

S. Korea Pardons Samsung Chief to Lead Olympic Bid

Convicted embezzler holds seat on Olympic Committee

(Newser) - South Korea has granted a pardon to a former Samsung chairman found guilty of embezzlement to allow him to lead the country's bid for the 2018 Winter Olympics. President Lee Myung-bak said he pardoned Lee Kun-hee to allow him to keep his seat on the International Olympic Committee and to...

Saudi Family Feud Rocks World Banks
Saudi Family Feud
Rocks World Banks
Oct 22, 2009 8:03 AM CDT

Saudi Family Feud Rocks World Banks

Saudi economy suffers as in-laws squabble over business

(Newser) - A bitter dispute between two of Saudi Arabia's richest families is damaging the world banking industry, dragging down the Saudi economy, and causing deep discomfort over Ramadan party invites. The Gosaibi clan accuse their son-in-law Ma'an al Sanea of embezzling $10 billion from the family business, while Sanea says the...

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