Sir Frauds a Lot | The Case of Stanford Financial Group

Everyone dreams of winning the lottery. Some may even fantasize about trying to game the system. But only a very small few actually have the opportunity to tip the odds in their favor. In this episode, Caleb and Greg discuss an audacious scheme to rig the Iowa lottery.

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In less than 10 minutes, you can earn 1 hour of NASBA-approved accounting CPE after listening to this episode. Download our mobile app, sign up, and look for the Oh My Fraud channel. Register for the course, complete a short quiz, and get your CPE certificate.

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CONNECT WITH THE HOSTS

Greg Kyte, CPA
Twitter: https://twitter.com/gregkyte
LinkedIn: https://www.linkedin.com/in/gregkyte/

Caleb Newquist
Twitter: https://twitter.com/cnewquist
LinkedIn: https://www.linkedin.com/in/calebnewquist/

Email us at ohmyfraud@earmarkcpe.com

Sources:
The Winning Ticket — by Rob Sand with Reid Forgrave

'Hot Lotto' scammer Eddie Tipton paroled after 5 years in Iowa prison — Des Moines Register

The Untold Story of How a Gaming Geek with a Checkered Past Pulled Off the Biggest Lottery Scam in US History — Des Moines Register

Lotteries in the United States — Wikipedia

Lottery machine - Wikipedia — Wikipedia

https://www.youtube.com/watch?v=go-0mkWNrlk — PowerBall YouTube Channel

https://www.youtube.com/watch?v=dRNpRgMiVQU — Mega Millions YouTube Channel

Lotto America Moves to Digital Drawings — PowerBall

Lotto America — Wikipedia

1980 Pennsylvania Lottery scandal — Wikipedia

Chances are, you probably remember a massive fraud from the late 2000s that created a media circus. Just maybe not this one. In this episode, Caleb and Greg delve into a saga of Allen Stanford, the mastermind of a convoluted, multi-decade, multi-billion-dollar Ponzi scheme.

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HOW TO EARN FREE CPE

In less than 10 minutes, you can earn 1 hour of NASBA-approved accounting CPE after listening to this episode. Download our mobile app, sign up, and look for the Oh My Fraud channel. Register for the course, complete a short quiz, and get your CPE certificate.

Download the app:

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CONNECT WITH THE HOSTS

Greg Kyte, CPA
Twitter: https://twitter.com/gregkyte
LinkedIn: https://www.linkedin.com/in/gregkyte/

Caleb Newquist
Twitter: https://twitter.com/cnewquist
LinkedIn: https://www.linkedin.com/in/calebnewquist/

Email us at ohmyfraud@earmarkcpe.com

Sources:

• James Stanford [Obituary]
• Stanford's Failed Health Club [BusinessWeek via WayBack Machine]
• The Dark Knight [Texas Monthly]
• Not Quite Cricket [The New Yorker]
• Stanford Financial Group [Wikipedia]
• Viewing Financial Crimes as Economic Homicide [NYT]
• Cook Islands, a Paradise of Untouchable Assets [NYT]
• United States v. Robert Allen Stanford et al. [SEC]
• Warning signs showed Stanford empire was built on 'threats and innuendos' [The Guardian]
• Handcuffed Stanford pleads not guilty [ESPNcricinfo]
• Seven charges against Allen Stanford are dropped [BBC]
• Allen Stanford ruled unfit to stand trial for fraud [BBC]
• Judge weighs whether Allen Stanford fit for trial [Reuters]
• Defiant US fraudster Allen Stanford vows to clear name [BBC]
• The Rise and Fall of Allen Stanford [Ministry Watch]
• TD Bank reaches $1.2 billion settlement in Ponzi scheme lawsuit [CNN]
• After 15 years of motions and delays, trial for Stanford Trust fraud could happen next year [The Advocate]

Hollywood loves a sequel, so Caleb and Greg return with two more stories of celebrities who fell victim to fraud.

HOW TO EARN FREE CPE

In less than 10 minutes, you can earn 1 hour of NASBA-approved accounting CPE after listening to this episode. Download our mobile app, sign up, and look for the Oh My Fraud channel. Register for the course, complete a short quiz, and get your CPE certificate.

Download the app:

Apple: https://apps.apple.com/us/app/earmark-cpe/id1562599728
Android: https://play.google.com/store/apps/details?id=com.earmarkcpe.app

Questions? Need help? Email support@earmarkcpe.com.

CONNECT WITH THE HOSTS

Greg Kyte, CPA
Twitter: https://twitter.com/gregkyte
LinkedIn: https://www.linkedin.com/in/gregkyte/

Caleb Newquist
Twitter: https://twitter.com/cnewquist
LinkedIn: https://www.linkedin.com/in/calebnewquist/

Email us at ohmyfraud@earmarkcpe.com

Sources:

Kevin Hart

• Kevin Hart Net Worth: Comedy, Movies, and Investing [MoneyMade]
• Kevin Hart's former personal shopper charged with $1 million in theft [USA Today]
• Top 10 Highest Grossing Comedy Tours of 2023 [Billboard]
• Kevin Hart is Forbes' highest-earning stand-up comedian of 2019 [UPI]
• 10 Richest Stand-up Comedians in the World [Comedyville]
• Kevin Hart doesn't have a brand. He is the brand [Los Angeles Times]
• CELEBRITY PERSONAL SHOPPER CHARGED WITH DEFRAUDING COMEDIAN KEVIN HART [Office of the District Attorney Queens County]

Courtney Love

• Courtney Love [Wikipedia]
• Courtney Love explains why you’ve got to do the math [Financial Times]
• Courtney Love [WTF with Marc Maron]
• LOVE GOES AFTER KURT ‘LOOTERS’ [New York Post]
• Courtney Love Labors to Get Back Kurt Cobain's MIA Fortune [E!]
• Courtney Love Sued Again for Defamation on Twitter [The Hollywood Reporter]
• Courtney Love Looks to Sue Ex-Attorney Over Bizarre Kurt Cobain Estate Fraud Claims [The Hollywood Reporter]
• Courtney Love Wins Twitter Defamation Trial [The Hollywood Reporter]

Correction: In this episode, Greg incorrectly refers to a musician who wears a giant mouse head with X's for eyes. The artist is Deadmau5 not Modest Mouse. We apologize to the horde or whoever. 

Cleaning dirty money may be as old as money itself. In this episode, Caleb and Greg discuss the history of money laundering, from ancient China to Prohibition to the greatest American political scandal of the 20th century.

HOW TO EARN FREE CPE

In less than 10 minutes, you can earn 1 hour of NASBA-approved accounting CPE after listening to this episode. Download our mobile app, sign up, and look for the Oh My Fraud channel. Register for the course, complete a short quiz, and get your CPE certificate.

Download the app:

Apple: https://apps.apple.com/us/app/earmark-cpe/id1562599728
Android: https://play.google.com/store/apps/details?id=com.earmarkcpe.app

Questions? Need help? Email support@earmarkcpe.com.

CONNECT WITH THE HOSTS

Greg Kyte, CPA
Twitter: https://twitter.com/gregkyte
LinkedIn: https://www.linkedin.com/in/gregkyte/

Caleb Newquist
Twitter: https://twitter.com/cnewquist
LinkedIn: https://www.linkedin.com/in/calebnewquist/

Email us at ohmyfraud@earmarkcpe.com

Sources: 

The History Of Money Laundering: Know The Important Origin Of Money Laundering —  Financial Crime Academy

The Three Stages Of Money Laundering And How Money Laundering Works. — Financial Crime Academy

Penn Jillette Street Performing Millionaire — Anecdotage

The evolution of money laundering from ancient China to the internet — Grant Thornton Malta

Malta a ‘transit point’ for weapons trafficking from Southern Europe to North Africa — Malta Today 

Global Organized Crime Index 2023 — Global Initiative Against Transnational Organized Crime

Prohibition Profits Transformed the Mob — The Mob Museum

Prohibition — Wikipedia

The underworld laundromat: How to clean $10 million in mob money — National Post (Canada)

The "Secret" History of the Bank Secrecy Act — FTI Consulting

President Richard Nixon and the Watergate Scandal — For Dummies Website

Bank Secrecy Act — Wikipedia

Money Laundering Control Act (MLCA) Overview - Willkie Compliance

Three Elements That Must Be Proven in a Money Laundering Case — Sanction Scanner

During the Reconstruction era, legal, social, and political change was pervasive throughout the United States as it recovered from the Civil War and the end of slavery. In this episode, Caleb and Greg discuss the effort to help newly emancipated people with a service most of us take for granted today—banking.

HOW TO EARN FREE CPE

In less than 10 minutes, you can earn 1 hour of NASBA-approved accounting CPE after listening to this episode. Download our mobile app, sign up, and look for the Oh My Fraud channel. Register for the course, complete a short quiz, and get your CPE certificate.

Download the app:

Apple: https://apps.apple.com/us/app/earmark-cpe/id1562599728
Android: https://play.google.com/store/apps/details?id=com.earmarkcpe.app

Questions? Need help? Email support@earmarkcpe.com.

CONNECT WITH THE HOSTS

Greg Kyte, CPA
Twitter: https://twitter.com/gregkyte
LinkedIn: https://www.linkedin.com/in/gregkyte/

Caleb Newquist
Twitter: https://twitter.com/cnewquist
LinkedIn: https://www.linkedin.com/in/calebnewquist/

Email us at ohmyfraud@earmarkcpe.com

Sources:

• Transcript of the Emancipation Proclamation [National Archives]
• End of slavery in the United States [Wikipedia]
• Juneteenth [Wikipedia]
• Thirteenth Amendment to the United States Constitution [Wikipedia]
• Reconstruction era [Wikipedia]
• Freedmen’s Bank [Britannica]
• Freedman's Savings Bank [Wikipedia]
• Freedman's Bank Building [US Department of the Treasury]
• The Freedman’s Bank Forum obscures the bank’s real history [Washington Post]
• “The hands are white that handle the money”: Review of Carl R. Osthaus, Freedmen, Philanthropy, and Fraud: A History of the Freedman’s Savings Bank [βιβλιοσκώληξ]
• (1876) “Committee on the Freedman’s Bank,” in Reports of Committees of the House of Representatives. Washington: Government Printing Office.
• (1880) United States Senate, Report of the Select Committee to Investigate the Freedman’s Savings and Trust Company. Washington: Government Printing Office.
• Freedman's Savings and Trust Company [Smithsonian Institution]

Caleb and Greg recount their favorite swindles, interviews, and culprits from the year that was Oh My Fraud 2023. 

HOW TO EARN FREE CPE

In less than 10 minutes, you can earn 1 hour of NASBA-approved accounting CPE after listening to this episode. Download our mobile app, sign up, and look for the Oh My Fraud channel. Register for the course, complete a short quiz, and get your CPE certificate.

Download the app:

Apple: https://apps.apple.com/us/app/earmark-cpe/id1562599728
Android: https://play.google.com/store/apps/details?id=com.earmarkcpe.app

Questions? Need help? Email support@earmarkcpe.com.

CONNECT WITH THE HOSTS

Greg Kyte, CPA
Twitter: https://twitter.com/gregkyte
LinkedIn: https://www.linkedin.com/in/gregkyte/

Caleb Newquist
Twitter: https://twitter.com/cnewquist
LinkedIn: https://www.linkedin.com/in/calebnewquist/

Email us at ohmyfraud@earmarkcpe.com

Favorite Cases
https://ohmyfraud.com/episodes/high-steaks-fraud-the-case-of-easterday-farms
https://ohmyfraud.com/episodes/fat-shamming-the-guy-who-corrupted-the-u-s-navy

Favorite Perps
https://ohmyfraud.com/episodes/all-hat-and-no-cartel-the-case-of-dwi-dude
https://ohmyfraud.com/episodes/all-that-glitters-is-not-fraud-the-case-of-bre-x-minerals

Favorite Interviews
https://ohmyfraud.com/episodes/steven-thomas-the-lawyer-who-sues-the-big-4-for-missing-fraud-and-wins
https://ohmyfraud.com/episodes/meet-the-fraudster-nathan-mueller

Public schools are the foundation of American education, and few were better than Roslyn High School in Nassau County, New York. The school’s success was largely due to one man, its ambitious superintendent, Frank Tassone. But when Frank’s key lieutenant is caught up in a scandal, it threatens everything, even Frank.

HOW TO EARN FREE CPE

In less than 10 minutes, you can earn 1 hour of NASBA-approved accounting CPE after listening to this episode. Download our mobile app, sign up, and look for the Oh My Fraud channel. Register for the course, complete a short quiz, and get your CPE certificate.

Download the app:

Apple: https://apps.apple.com/us/app/earmark-cpe/id1562599728
Android: https://play.google.com/store/apps/details?id=com.earmarkcpe.app

Questions? Need help? Email support@earmarkcpe.com.

CONNECT WITH THE HOSTS

Greg Kyte, CPA
Twitter: https://twitter.com/gregkyte
LinkedIn: https://www.linkedin.com/in/gregkyte/

Caleb Newquist
Twitter: https://twitter.com/cnewquist
LinkedIn: https://www.linkedin.com/in/calebnewquist/

Email us at ohmyfraud@earmarkcpe.com

Sources: 

-The Bad Superintendent — NY Magazine (best article) 

-The Real-Life Fraud Behind HBO's "Bad Education" — ACFE Insights 

-Where Are Pamela Gluckin And Frank Tassone, From The 'Bad Education' Embezzlement Scheme, Now? — Oxygen 

-On Top of the News at Roslyn High — The New York Times 

-Roslyn Union Free School District: Anatomy of A Scandal — Office of New York State Comptroller Scribd

-NYC Renter Household Incomes Grew Faster Than Rents Between 2014 and 2015 — NYU Furman Center Blog 

-Former Schools Chief of Roslyn Gets 4 to 12 Years in Fraud — NYT

-From the archives: Roslyn school district embezzlement — Newsday 

-Ex-administrator pleads guilty in embezzlement case — Associated Press

-Roslyn HS reporter who broke 'Bad Education' story speaks 16 years later - The Island Now — The Island Now

-Roslyn Union Free School Dist. v Jaspan Schlesinger Hoffman LLP — New York Court Records

-Four Indicted in Roslyn School District's Financial Scandal — NYT

-Bad Education: Hugh Jackman HBO film criticised by real-life subject for ‘sordid’ depiction of sexuality — The Independent

Correction: In this episode, Caleb incorrectly states the character played by Anthony Rapp in Rent. Rapp played Mark Cohen not Roger Davis. We apologize to all the theater nerds for the error.

A savvy Texas lawyer who’s made a name for himself defending people accused of drunk driving and marijuana possession tries his hand at high-end extradition cases involving Colombian drug lords. What could go wrong? Everything.

HOW TO EARN FREE CPE

In less than 10 minutes, you can earn 1 hour of NASBA-approved accounting CPE after listening to this episode. Download our mobile app, sign up, and look for the Oh My Fraud channel. Register for the course, complete a short quiz, and get your CPE certificate.

Download the app:

Apple: https://apps.apple.com/us/app/earmark-cpe/id1562599728
Android: https://play.google.com/store/apps/details?id=com.earmarkcpe.app

Questions? Need help? Email support@earmarkcpe.com.

CONNECT WITH THE HOSTS

Greg Kyte, CPA
Twitter: https://twitter.com/gregkyte
LinkedIn: https://www.linkedin.com/in/gregkyte/

Caleb Newquist
Twitter: https://twitter.com/cnewquist
LinkedIn: https://www.linkedin.com/in/calebnewquist/

Email us at ohmyfraud@earmarkcpe.com

Sources:

• The DWI Lawyer Who Represented Cocaine Traffickers—and Paid the Price [Texas Monthly]
• Drunk with Power | American Greed 
• 'Reeferendum' spotlights candidate [San Antonio Express-News] 
• S.A.'s 'DWI Dude' denies scamming Colombian narco-terror group chief [San Antonio Express-News]
• Austin lawyer known as ‘DWI Dude’ gets 15 1/2 years in prison for scamming Colombian narcos [Dallas Morning News]
• Texas Lawyer Gets 15 Years for Scheme to Defraud Cocaine Traffickers [New York Times]
• Central Texas Lawyer Guilty of Swindling Colombian Drug Trafficking Clients [DOJ]
• Central Texas Lawyer Sentenced for Swindling Colombian Drug Trafficking Clients [DOJ]
• United States v. Balagia [Case Text]
• Texas Lawyer Loses Appeal Over Drug Trafficking Conviction [Bloomberg Law]
• MR. JAMES MORRIS 'JAMIE' BALAGIA [State Bar of Texas]

Professor James Park’s new book chronicles the history of securities fraud in the US, and oh, what a history it is, featuring some of the most infamous episodes in American business. In this episode, Caleb and Greg talk with Jim about some of the notable cases in his book, whether executives or underlings actually bear the responsibility for wrongdoing, if everything truly is securities fraud and more.

HOW TO EARN FREE CPE

In less than 10 minutes, you can earn 1 hour of NASBA-approved accounting CPE after listening to this episode. Download our mobile app, sign up, and look for the Oh My Fraud channel. Register for the course, complete a short quiz, and get your CPE certificate.

Download the app:

Apple: https://apps.apple.com/us/app/earmark-cpe/id1562599728
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CONNECT WITH THE GUEST

James Park
Website: https://law.ucla.edu/faculty/faculty-profiles/james-park
LinkedIn: https://www.linkedin.com/in/james-park-a0a7161

Buy the book! https://www.amazon.com/Valuation-Treadmill-Securities-Threatens-Integrity/dp/1108940412/ref=sr_1_1?crid=1A9AK5L4Q56XK&keywords=the+valuation+treadmill&qid=1650296004&sprefix=%2Caps%2C90&sr=8-1

CONNECT WITH THE HOSTS

Greg Kyte, CPA
Twitter: https://twitter.com/gregkyte
LinkedIn: https://www.linkedin.com/in/gregkyte/

Caleb Newquist
Twitter: https://twitter.com/cnewquist
LinkedIn: https://www.linkedin.com/in/calebnewquist/

Email us at ohmyfraud@earmarkcpe.com

Who’s the last person you’d suspect of committing fraud? Your grandmother? A good friend? Someone who always seems to be thinking about how they can help others? In this episode, Caleb and Greg discuss a case where someone checks all of those boxes.

HOW TO EARN FREE CPE

In less than 10 minutes, you can earn 1 hour of NASBA-approved accounting CPE after listening to this episode. Download our mobile app, sign up, and look for the Oh My Fraud channel. Register for the course, complete a short quiz, and get your CPE certificate.

Download the app:

Apple: https://apps.apple.com/us/app/earmark-cpe/id1562599728
Android: https://play.google.com/store/apps/details?id=com.earmarkcpe.app

Questions? Need help? Email support@earmarkcpe.com.

CONNECT WITH THE HOSTS

Greg Kyte, CPA
Twitter: https://twitter.com/gregkyte
LinkedIn: https://www.linkedin.com/in/gregkyte/

Caleb Newquist
Twitter: https://twitter.com/cnewquist
LinkedIn: https://www.linkedin.com/in/calebnewquist/

Email us at ohmyfraud@earmarkcpe.com

Sources: 

Viles ‘in a league of her own’ after guilty verdict in $500K theft from town, prosecutor says — Kennebec Journal

Claudia Viles, Even After Tax Theft Conviction, Commands Community Favor — Kennebec Journal Morning Sentinel  

Property owned by Anson town clerk convicted of embezzlement to be auctioned — Mainebiz.biz 

Former Anson tax collector to serve five years on theft charges — Portland Press Herald 

Circumstances that made it easy for Viles to steal not unique to Anson — CentralMaine.com

Difference between Tax Collector & Assessor — Orange County Treasurer’s Office

About The Florida Tax Collector — Sarasota County Tax Collector

Municipal Tax Collectors — Connecticut’s Official State Website

Title 36, §1487: Collection of tax — Maine.gov 

Anson, Maine — Wikipedia

Claudia Viles, who will serve five years for embezzlement, vows to clear her name — CentralMaine.com

Median Household Income in Maine — St. Louis Fed