Unethical Actions of Russian Energy Companies Are Rattling the Marketplace

Insights
GUEST BLOGGER Syed Zubair Ahmed, CFE The backbone of the Russian economy is energy exports. The Russian energy sector is an enormous global asset driving economic activity across the world. In 2021, Russian crude and condensate output reached 10.5 million barrels per day, making up 14% of the world’s total supply. In the same year, Russia exported oil worth USD 300 billion, accounting for 11% of the global oil trade.  The country exports most of its oil production, with almost all going to Europe (about 80%) and Asia (about 20%). Russia has the world’s largest proven crude oil reserves, totaling almost 264 billion barrels as of January 2021. The country also has the second largest proven natural gas reserves in the world, totaling about 1,688 trillion cubic feet as of the same…
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From Their Plates to Our Pockets — $250 Million Stolen from Pandemic Food Program

Insights
ACFE Community Manager Rihonna Scoggins The Justice Department charged 47 defendants on September 20th for allegedly defrauding a federal program that provided food for needy children during the pandemic, describing the scheme — totaling nearly $250 million — as the largest uncovered to date. The charges also underscore that criminals have been quick to take advantage of new programs set up by the U.S. government to curb fallout from the COVID-19 pandemic, and they’re exploiting weaknesses in systems designed to quickly distribute funds. The indictments announced Tuesday involve six groups and one individual, all connected to a Minnesota nonprofit called Feeding Our Future. The defendants are charged with federal crimes including conspiracy, wire fraud, money laundering and paying or receiving illegal kickbacks. The DOJ alleges that Aimee Bock, the founder of Feeding Our…
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The Insane, Real-Life Story of Crazy Eddie Antar – Gary Weiss – Fraud Talk – Episode 124

FraudPodcast
Eddie Antar founded the Crazy Eddie electronics retail chain in Brooklyn, New York, which rose to prominence across the New York-New Jersey area throughout the 1970s. Operating undetected for years, Eddie’s business practices were grounded in fraud from the very beginning. In Episode 124 of Fraud Talk, Gary Weiss, author of “Retail Gangster: The Insane, Real-Life Story of Crazy Eddie,” discusses this wide-ranging fraud case and ultimate unraveling with ACFE Chief Training Officer John Gill, J.D., CFE.  Visit ACFE.com for more anti-fraud resources.  SOURCE: Fraud Talk Podcast - A Publication of the Association of Certified Fraud Examiners
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