Who is to blame for the fraud allegations rocking Koss Corp ( KOSS ). Well, obviously the people who allegedly misappropriated millions from the stereo-headphone maker’s bank accounts or helped them in the scheme. Sujata “Sue” Sachdeva, the company’s former vice president of finance and secretary, was arrested on Dec. 21 for allegedly using interstate wire communications to defraud Koss. Beyond that, the blame should be cast on the other executives at Koss who should have been paying more attention to the company’s finances . Continue reading Koss Corp: Anatomy of an Alleged $31 Million Fraud Koss Corp: Anatomy of an Alleged $31 Million Fraud originally appeared on DailyFinance on Mon, 18 Jan 2010 11:00:00. Filed Under: Company News Permalink | Tweet this! | Comments

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Koss Corp: Anatomy of an Alleged $31 Million Fraud

Filed under: People There was some doubt headed into Saturday’s auction of Bernard Madoff’s belongings. Strong interest was anticipated , though many thought the public was tired of the Madoff saga. The asking prices for his (former) Manhattan and Palm Beach homes had just been cut by 10% and 7%, respectively. Presale estimates were kept to reasonable levels. Simply, everything was priced to move. When the gavel came down for the last time, though, expectations were shattered. The personal effects that once belonged to the architect of the world’s largest Ponzi scheme fetched as much as 20 times the presale estimates. It looks like bidders will always shell out for even small pieces of sordid history . Continue reading The Madoff auction take shows Bernie-mania is hardly waning The Madoff auction take shows Bernie-mania is hardly waning originally appeared on DailyFinance on Sun, 15 Nov 2009 22:10:00 EST. Please see our terms for use of feeds . Read | Permalink | Email this | Comments

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The Madoff auction take shows Bernie-mania is hardly waning

Filed under: Company News , People The unlikely marriage of caffeine and meat snack got its start in Utah, in the winter of 2005. Tech entrepreneurs and college friends Brian Levin and Matt Keiser were on a skiing trip at Snowbird, and after a day on the slopes, they partied hard and fueled up on energy-drink cocktails late into the evening. The next morning, as they loaded up their gear to hit the snow, the duo noticed that a bottle of caffeinated energy drink had spilled on some peppered beef jerky snacks. After a few tasteless jokes, Keiser and Levin decided to pack the jerkies anyway for edibles on the slopes. “I took a bite and thought the taste was good — actually better than the regular jerky taste. It was also more tender than jerky usually is. So some bells went off, and we thought: ‘We have the world’s first performance-enhancing meat snack,’” recalls Levin. Continue reading Perky Jerky: This caffeine and meat snack has a dash of charitable cause Perky Jerky: This caffeine and meat snack has a dash of charitable cause originally appeared on DailyFinance on Sat, 31 Oct 2009 09:00:00 EST. Please see our terms for use of feeds . Permalink | Email this | Comments

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Perky Jerky: This caffeine and meat snack has a dash of charitable cause

Filed under: People It wasn’t enough for felonious Ponzi patriarch Bernard Madoff to bilk his clients of over $60 billion in assets. Now, the jailbird stock swindler is trash-talking about the very federal authorities who should have caught him and stopped the largest financial scam in history. In a jailhouse interview released late Friday by H. David Kotz, the Securities & Exchange Commission’s inspector-general, Madoff disses SEC investigators as bumbling bureaucrats and says he was “astonished” that no one caught him earlier. Continue reading Bernie Madoff ‘astonished’ Feds flunked ‘accounting 101′ and missed his fraud Bernie Madoff ‘astonished’ Feds flunked ‘accounting 101′ and missed his fraud originally appeared on DailyFinance on Sat, 31 Oct 2009 09:45:00 EST. Please see our terms for use of feeds . Permalink | Email this | Comments

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Bernie Madoff ‘astonished’ Feds flunked ‘accounting 101′ and missed his fraud

Filed under: People We’re celebrating the conclusion of our first DailyFinance Sweepstakes and we’re pleased to announce, we have a winner. On its way to Edna Gazaille is an 8GB iPod Touch (worth $199). It’s always nice to give a prize to someone who — we found out after the announcement — enjoys giving back to society. Every year on Christmas Eve, Edna, who works in a small machine shop, crochets a dozen baby afghans and delivers them to a local hospital. She is also the mother of two grown children. With the kids now on their own, she lives in Woonsocket, RI with her husband and her three “boys” — two adult cats and a four-month-old Boston Terrier. Continue reading DailyFinance Sweepstakes: Edna from Rhode Island wins iPod Touch! DailyFinance Sweepstakes: Edna from Rhode Island wins iPod Touch! originally appeared on DailyFinance on Fri, 02 Oct 2009 18:40:00 EST. Please see our terms for use of feeds . Permalink | Email this | Comments

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DailyFinance Sweepstakes: Edna from Rhode Island wins iPod Touch!

Filed under: Economy , People When Bernie Madoff, the master Ponzi schemer, was sentenced to 150 years in the slammer, many of his victims felt some measure of justice had been served. But others were furious that members of Madoff’s family appeared to have tap-danced away with millions in the months leading up to their patriarch’s arrest. Now Irving Picard, the court-appointed trustee, has filed a $199-million lawsuit against the disgraced financier’s sons Andrew and Mark, his brother Peter, and his niece Shana, alleging that they benefited from Madoff’s epic $60-billion fraud by using his investment firm as a “family piggy bank” to fund their lavish lifestyles. Continue reading Madoff trustee files $200M suit against Bernie’s kin over ‘family piggy bank’ Madoff trustee files $200M suit against Bernie’s kin over ‘family piggy bank’ originally appeared on DailyFinance on Fri, 02 Oct 2009 19:50:00 EST. Please see our terms for use of feeds . Permalink | Email this | Comments

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Madoff trustee files $200M suit against Bernie’s kin over ‘family piggy bank’

Filed under: People , Investing On page 15 of a settlement document with the government, James Davis, the financial chief of the operations controlled by Allen Stanford, says that Stanford and the chief bank regulator of Stanford’s bank in Antigua sealed a blood oath in 2003 by cutting their hands and mixing their blood. After that, the two men were brothers of a sort, at least in Stanford’s mind. Stanford and the government official helped cover up Stanford’s frauds for years. Davis, who helped build and maintain the Stanford Ponzi scheme, faces as much as three decades in prison after pleading guilty to assisting Stanford in manipulating the money in his funds and hiding the results from clients. Continue reading One last bizarre turn in Stanford case One last bizarre turn in Stanford case originally appeared on DailyFinance on Fri, 28 Aug 2009 07:00:00 EST. Please see our terms for use of feeds . Permalink | Email this | Comments

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One last bizarre turn in Stanford case