by Becky Hurley Published: October 8,2010
Tags: fraud, Hoffman, Woodmoor Pines
Members of the Woodmoor Pines Golf and Country Club near Monument consider the club to be their neighborhood’s crown jewel, a recreational gathering spot that’s near and dear to their hearts and their property values. So it’s no surprise that in 2008, when it faced financial straits for the second time in recent years, some [...] [...]
The Colorado Securities Commission filed a complaint and issued a temporary restraining order against a Boulder company, alleging that they are violating the anti-fraud and licensing provisions of the Colorado Securities Act. Mark Hamilton Yost and his company, Yost Co., are accused of defrauding investors in at least one private fund. The company is accused [...] [...]
by Amy Gillentine Published: July 23,2010
Tags: American Trade Association, Colorado Division of Insurance, fraud
A deadline of Aug. 31 has been set to to apply for refunds from an unlicensed health benefits company called American Trade Association. The Colorado Division of Insurance was alerted earlier this year that the company was selling unauthorized, and possibly non-existent, policies. ATA’s assets are being liquidated by the Tennessee Department of Commerce and [...] [...]
by Amy Gillentine Published: July 17,2010
Tags: fraud, recession, unemployment
With unemployment levels remaining stubbornly high, the Colorado Department of Labor is seeing a rise in unemployment fraud. The state’s Department of Labor and Employment estimates it paid more than $1.69 million last year in fraudulent claims, out of a total of slightly more than $1 billion in claims paid in 2009. That’s about 1.8 [...] [...]
by Rebecca Tonn Published: July 13,2010
Tags: fraud, whistle-blower
If you discover financial fraud at your company, be prepared to state your name if you want to make a report. A study shows that even when an anonymous allegation involves serious accounting breaches, corporate directors often take no action. However, when the allegations are not anonymous, audit committees often launch into action and corporate directors [...] [...]
by Rebecca Tonn Published: June 3,2010
Globally, businesses and other organizations lose about 5 percent of their annual revenue to fraud – that’s more than $2.9 trillion. Information from certified fraud examiners in 106 nations was used for benchmarking statistics on occupational fraud losses, detection methods and perpetrators, for the Association of Certified Fraud Examiners’ 2010 Report to the Nations on Occupational [...] [...]
by Rob Larimer Published: May 11,2010
An El Paso County District Court ordered a Colorado Springs business, the Immigration Center, to stop doing business today, saying it has been defrauding customers wanting help completing immigration forms. The Office of the Attorney General filed a lawsuit against owners Charles Doucette, Deborah Stilson and Alfred Boyce, in August accusing them of posing as [...] [...]
Alpharma will pay Colorado more than $79,000 as its part of a multi-state settlement against the pharmaceutical company for fraudulent Medicaid claims. The total settlement equals $19.2 million for states involved in the suit and the federal government. The allegations are that the company submitted false claims for the drug Kadian, a painkiller intended for [...] [...]
by Staff Writer Published: August 25,2009
Tags: fraud, Medicare, Social Media
Broomfield tech company sued for investor fraud Colorado’s securities commissioner filed suit against a Broomfield-based entity and its principals, saying they defrauded investors into raising nearly $3 million to fund a technology that has not made it to market. The state’s complaint was filed in Denver District Court against Colorcom Ltd. and its related businesses — IFR Technologies [...] [...]
MIAMI – Federal authorities arrested 32 people, including doctors, in a major Medicare fraud bust today in New York, Louisiana, Boston and Houston, targeting scams such as “arthritis kits” – expensive braces that many patients never used. It’s the third major sweep since Attorney General Eric Holder and Health and Human Services Secretary Kathleen Sebelius [...] [...]
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