Jury Still Deliberating

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According to the New York Times, a federal jury in California is struggling to reach a unanimous verdict on three of 11 charges against Elizabeth Holmes, former CEO of Theranos. Questions: What is the maximum sentence for each federal fraud count? How many counts of fraud is Ms. Holmes facing? What is the makeup of… Read more »

Trustify cannot be Trusted

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According to the Washington Post, the CEO for a sort of “Uber for private investigators” called Trustify was sentenced to 97 months this week for fraud. Questions: What is the CEO’s name and age? Did the company make a profit? Explain. Originally the CEO was sentenced for 9 years. Why was his sentence shortened? How… Read more »

Next Time Wear a Cold Water Wetsuit

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According to CBS, Sacramento, a fleeing Ponzi scheme suspect is now in custody after a daring escape on a submersible scooter from FBI agents. Questions Who is the subject and what is alleged? Where did this take place? How long had the subject been under FBI surveillance? What is the sentence that the subject faces?… Read more »

Bernie Ebbers Gets Out Early

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According to Accounting Today, Bernie Ebbers, infamous for the World Com fraud was granted early release for health reasons. Questions: What is the First Step Act and why did the author think that this had a bearing on the case? How long had Bernie Ebbers served? When MCI went bankrupt as a function of the… Read more »

A Tale of the Fake Heiress

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A penniless young woman, who left Russia in 2014 and faked her way to Manhattan as an “heiress,” is now facing up to 15 years in prison. How did Ms. Sorokin bilk a bank out of $100,000? What charges does Ms. Sorokin face? Why did Ms. Sorokin’s lawyer, Todd Spodek, argue that she had not… Read more »

How Low Can You Go?

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Barbara Barkley lost her house and her savings to a group of California scam artists who stole $11 million from thousands of struggling homeowners looking for help with their mortgages. Questions: 1. Who was the ringleader of the scam and what sentence does he face? 2. How did the scam work? 3. Why wasn’t there… Read more »