financial irregularities

7 Stories

In First, FDA Wants Safety Standards for Pet Food

Move designed to prevent scares like 2007 China crisis

(Newser) - The FDA today proposed new safety standards for pet food and farm animal feed, which, if passed, would be the first of their kind the agency has ever implemented. The rules cover such basic stuff as sanitation, hazard analysis, and manufacturing practices, NBC reports. "We have been pushing feed... More »

At Heart of InTrade Mystery: $2.6M Paid to Dead Founder

2010-'11 payouts not sufficiently documented

(Newser) - Betting site InTrade has shut down abruptly and its founder might have some tough questions to answer—if he hadn't died during a 2011 attempt to climb Mount Everest. A recent audit found that the Dublin-based company made $2.6 million in "insufficiently documented payments" to founder John... More »

InTrade Abruptly Shuts Down

No word whether the move is permanent

(Newser) - InTrade, the Ireland-based betting site on which you could wager on the presidential election and other non-sports events, abruptly shut down yesterday, AllThingsD reports. An official statement on the website cites possible "financial irregularities" that require it to cease operations, but does not give any details. The move, which... More »

HP: New Acquisition Cheated Us, Cost Us $8.8B

Company says it has alerted regulators

(Newser) - Hewlett-Packard is accusing Autonomy Corp, which it purchased last year for $10.3 billion, of falsifying its finances—leading HP to take an $8.8 billion charge to sync Autonomy's accounting value with its real value. In a statement, HP accused "former members of Autonomy's management team"... More »

Benjamin Button Writer Sues Over Madoff Losses

'I'm a sucker,' says Roth

(Newser) - The screenwriter who penned The Curious Case of Benjamin Button is suing his investment manager for losing his life savings in the Bernard Madoff fiasco, reports the New York Post. "I'm the biggest sucker that ever walked the face of the earth," said Eric Roth, 65, who also... More »

5 Men Who Fueled Madoff's Ponzi Scheme

(Newser) - Government investigators are turning their eye to the middlemen who led clients into Bernard Madoff's long-running Ponzi scheme. The Wall Street Journal profiles five of them:
  • Robert Jaffe: A dashing Florida philanthropist, he funneled tony clients to ex-boss Madoff. Jaffe says he is a "victim of these tragic events.
... More »

$1M Embezzled From GOP

Former committee treasurer under scrutiny

(Newser) - One of the Republican Party's former top bureaucrats is suspected of embezzling up to $1 million from the party's campaign coffers, reports the Washington Post. The former National Republican Congressional Committee treasurer allegedly diverted money into his personal accounts for four years. The news is a tough hit for congressional... More »

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