Fraud


Attacking privacy under the cover of ‘cyber war’

The conflation of very different forms of online activity underlies the use of “cyber war” as a pretext for reducing privacy and funding contractors.

Read the Harvard scammer’s fake resume

Adam Wheeler lied his way into Harvard — but he also tried to BS his way into an internship with The New Republic, which has now published his fake resume, in which he claims to speak Classical Armenian and Old Persian and have several book deals on the go.

How a “mediocre stockbroker” conned Merrill Lynch

The story of Steven Mandala, who got a job with investment bank Merrill Lynch, talked them into giving him a $780,000 loan on his first day, bought a Ferrari and went AWOL.

Australian unis infiltrated by organised crime?

The Oz has its hands on a confidential government report that reveals overseas organised crime outfits are attempting to “shoehorn illegal migrants into the country as fee-paying students” via student visas.

Bernie Madoff sells off his fat gold watch collection

Bernie Madoff was mad for watches, and 46 of them were sold at yesterday’s fire sale of his possessions. Check out all of them here — including his suite of Rolexes, a favourite brand — plus their estimated price and what they actually fetched.

ASIC takes a serious swing at MFS

Perhaps stung by public criticism that it hasn’t done enough to prevent and prosecute corporate fraud, ASIC has launched a second action in as many weeks, announcing a civil claim against various directors of collapsed fund manager MFS.

Goldman Sachs secretly banked on the US housing crash

How did Goldman Sachs emerge from the financial crisis in such good shape? By simultaneously selling more than $40 billion in mortgage-backed securities, while secretly betting that the US housing market would crash.

Will the real Kim Jong Il please stand up?

Many analysts believe the North Korean leader we’ve been seeing in photos of late — such as the one with Bill Clinton — isn’t the real Kim Jong Il, but a look-a-like, standing-in to hide Dear Leader’s ailing health.

Meet the Lebanese Bernie Madoff

Salah Ezzedine, a Lebanese businessman with ties to Hezbollah, is the mastermind behind the biggest fraud scheme in the country’s history, swindling billions out of locals and leaving a long trail of ruined families in his wake.

Graphing the rise of US financial fraud

The Economist chart the astronomical rise of financial fraud in the US over the last 10 years.

Welcome to Festac Town, email scam capital of Nigeria

Dear Sir, I am a Nigerian prince…” you know the tune. And if you’ve received one (or, say, five billion) of these emails, chances are it came from a single town in Lagos, Nigeria.

Flint: Potential for vote fraud remains

Recent measures have reduced the scope for fraudulent enrolment but the potential for multiple voting remains, writes David Flint.