Court told law firm accountant embezzled millions - ABC Online

Candice Marcus

Updated October 06, 2011 14:50:14

Prosecutors say they will lay more than 200 charges against an accountant who allegedly embezzled $2.7 million.

Craig Dean Raneberg, 46, has faced Adelaide Magistrates Court after being extradited from Sydney.

The court heard he had flown back to Australia from Thailand after his three-month visa expired and was arrested by Federal Police at the airport when about to fly out of Australia again.

Prosecutors say they will lay an additional 203 theft charges against Raneberg.

The money outstanding from an account at Adelaide law firm Minter Ellison has been revised upward to $2.7 million.

The court heard Raneberg worked as an accountant at Minter Ellison for a decade.

Prosecutors said the money remained unaccounted for and Raneberg's assets and bank accounts had been frozen as part of a civil lawsuit.

A decision on whether Raneberg should get home detention bail will be made next week.

Topics: courts-and-trials, fraud-and-corporate-crime, law-crime-and-justice, judges-and-legal-profession, sa, adelaide-5000, sydney-airport-2020, australia

First posted October 06, 2011 14:07:35

Source: http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNHdU9Q6e9UUcrX2S_gPrnscob2jAw&url=http://www.abc.net.au/news/2011-10-06/fraud-craig-raneberg-minter-ellison/3317530?section=nsw

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Newark accountant sentenced in investment scam

By� Kathy Lynn Gray

The Columbus Dispatch Friday October 7, 2011 4:13 PM

A scheme to pad his pockets by lying to investors and the Internal Revenue Service has landed a Newark accountant a six-year prison sentence.

U.S. District Judge James L. Graham sentenced Daniel D. Weddington, 64, today in a natural-gas drilling scam that involved fake documents, inflated income-tax deductions and a multi-million dollar rip-off.

He had pleaded guilty in April to charges of aiding and assisting in the filing of false income tax returns and obstructing an IRS audit.

The judge called Weddington?s actions ?blatant fraud? and said the consequences were ? horrendous for his clients.? He ordered Weddington to pay $3.2 million in restitution.

He faces additional criminal charges in Licking County Common Pleas Court for theft from individual investors. A trial in that case is scheduled for Nov. 30.

Weddington operated his scheme when he was part owner of Mid-Con Petroleum Inc. in Heath. He was in charge of all the company?s accounting and dealt with investors for the company?s natural gas wells.

Between 2004 and 2006, Weddington collected payments from investors. He then inflated the investment amounts on investors? tax returns he filed so he could collect investment commissions and investors could receive large tax refunds.

Weddington assured investors the tax returns were legal. Later they learned they had to pay back the IRS, as wells as penalties and audit fees.

?He?s a con man, completely,? said Janet S. Keipp, of Pataskala, after Weddington was sentenced. She said she and her husband, Karl, have paid about $90,000 as a result of the tax fraud and lost an additional $81,000 to Weddington.

She said she?s sure she?ll never see a dime in restitution.

Court documents show the company had more than 200 investors; Weddington?s federal criminal charges were related to only three as part of a plea agreement.

Assistant U.S. Attorney Daniel A. Brown said a long prison sentence was justified.

?The need to provide deterrence for others screams out in this case,? Brown said.

Weddington surrendered his Ohio public accountant?s license when he pleaded guilty.

In May, a 2007 federal civil case against him was settled when Graham ordered Weddington and Mid-Con co-owner James Earl, of Heath, to stop selling customers interest in wells owned by the company. In that case, investigators said the government?s loss was at least $5.7 million.

Earl was not charged in the federal criminal case.
�

Source: http://www.dispatch.com/content/stories/local/2011/10/07/gas-scheme-sentence.html

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Acting guv bent on stopping accountant?s reinstatement

Wednesday, October 5, 2011

ACTING Governor Genaro Alvarez said he will bring the appeal up to the Supreme Court just to stop the reinstatement of provincial accountant Merly Fortu.
�
?In my entire 24 years in public service, I have never experienced that somebody raised her voice against me, especially from a government employee,? Alvarez pointed out.

However, he said that he will leave the matter to Governor Alfredo Mara�on Jr. on what legal action the Provincial Government would take on Fortu?s case.
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The Civil Service Commission (CSC) has ordered the reinstatement of�Fortu as provincial accountant and ordered the payment of her ?back salaries and benefits corresponding to the period of her illegal termination.?
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Provincial�Legal Officer Jose Maria�Valencia�said the Capitol has one to 100 options to take,�as he declared that they�will elevate the case against Fortu even up to the Supreme Court after the CSC ordered her reinstatement.
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Valencia�said he is already preparing the motion for reconsideration that will be filed with the CSC, adding that Fortu cannot yet return to her position.
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Fortu was ordered dismissed from government service by Negros Occidental governor Alfredo Maranon for grave misconduct.

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The case stemmed from a complaint filed by Vice Governor Genaro Alvarez, accusing Fortu�of hostility and arrogance when the latter was asked to explain the delayed processing�of purchase orders and requests for reimbursements�of expenses of Provincial Board Members.
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Alvarez said that this happened in a meeting,�July 1, 2010, where ?Out of the blue, Fortu spoke in a raised voice�denying any fault of her office.?

In his complaint, he said that instead of politely explaining how things work in her office, Fortu allegedly exchanged heated words�with him and further arrogantly challenged and agitated all persons present during the meeting to take court action.
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The decision will only become final if�Capitol will not file a motion for reconsideration within 15 days.
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?In our analysis, the CSC decision was wrong. First, we complied with the procedure, we provided due process, but as to the findings of the Commission that the raising of the voice of the respondent was not arrogant, it is quite questionable,?�Valencia said.
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?How can the Commission say that it is not arrogant when they were not here?? he asked.
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He added that based on the Commission, unless the Provincial Government can obtain a TRO and the Provincial Government will not implement it, they can be held in contempt.
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Valencia said he is studying the said provision ?because I don?t think the CSC can cite us for contempt.?
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He stressed that the case of Fortu is setting a bad example that elected public officials can just be shouted at.

Published in the Sun.Star Bacolod newspaper on October 05, 2011.

Source: http://www.sunstar.com.ph/bacolod/local-news/2011/10/05/acting-guv-bent-stopping-accountant-s-reinstatement-183323

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Accountant placed on probation for cab company fraud in murder case - Syracuse.com

Syracuse, NY - The accountant for a local cab company was sentenced today to five years' probation for his role in a scheme that allowed the family of a murdered taxi driver to receive death benefits to which they were not entitled.

Vincent Kukys, 66, of Sunnycrest Road, Syracuse, pleaded guilty in July to charges of first-degree offering a false instrument for filing and workers' compensation fraud.

He was accused of providing false documentation to the state Insurance Fund and false testimony before a workers' compensation board that Timothy Gordon was an employee of Century Transportation & Taxi.

Gordon, 29, of Carbon Street, actually was an employee of Yellow Taxi Co. when he was shot and killed by a fare during a robbery in January 2009.

Both cab companies are owned by Frank Manzi. But Yellow Taxi did not have workers' compensation insurance and Century did, according to authorities. The false information from Kukys allowed workers' compensation death benefits to be paid to Gordon's family after his murder.

Authorities said an investigation showed Gordon was added to the Century payroll records after his death.

Kukys also was ordered to pay restitution.

Source: http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNHWMFESci5fQU9xoHMZ0ntdKJVBaQ&url=http://www.syracuse.com/news/index.ssf/2011/10/accountant_placed_on_probation.html

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City names interim finance director

Senior accountant Jaye Monter has been selected as interim finance director for the city of Grand Island.

Mayor Jay Vavricek on Wednesday announced the interim appointment, which will need ratification by the Grand Island City Council during its Sept. 27 meeting.

A certified public accountant, Monter has 27 years of experience in accounting and finance, including 11 years as a member of the city's Finance Department. She has a bachelor of science comprehensive business administration degree with emphasis in accounting and finance from Kearney State College.

Monter has been with the Finance Department since 2000 and has served as senior accountant since 2003. Her responsibilities have included preparing, analyzing and interpreting financial statements and accounting records for the city, the Community Redevelopment Authority and business improvement districts. In addition, she has helped review, supervise and direct processes and procedures for the Finance Department, including the city's prioritization budget process.

Once approved for the appointment, Monter would start at step three of the treasurer/finance director pay scale, which is $81,852 annually.

Monter will serve in the role for an indefinite time period while the Human Resources Department renews its effort to fill the position permanently.

The finance director and city administrator position have been filled by Mary Lou Brown since December 2010. She was finance director at that time and was promoted to city administrator in March 2011.

Naming an interim finance director will allow Brown time to focus on the city administrator duties, Vavricek said.

"I acknowledge Mary Lou's many abilities, devotion and ability to maintain two jobs at once and feel confident Jaye's role in this interim leadership finance position is in the best interests of the people of Grand Island," he said.

Monter lives in Cairo and has served as the Cairo representative on the Regional Planning Commission for several years. Vavricek said because the appointment is an interim one, Monter would not need to resign from the commission. The commission makes non-binding recommendations regarding land use and development to the Grand Island City Council, Hall County board, Wood River City Council and villages of Alda, Doniphan and Cairo.

Should Monter's interim appointment turn into a permanent one, she would not have to leave Cairo to live in Grand Island, Vavricek said, because city code stipulates that department directors must live within 12 miles of Grand Island, and Monter complies with that.

---

City Government reporter, Tracy Overstreet can be found on Twitter and Facebook.

Source: http://theindependent.com/articles/2011/10/03/news/local/13930333.txt

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Malaysia's accountant general to chair new global Public Sector forum - Bernama

October 03, 2011 10:26 AM

Malaysia?s accountant general to chair new global Public Sector forum

International expertise to drive innovative thinking on the global accountancy profession Kuala Lumpur, Oct 3 (Bernama)-- The Accountant General of Malaysia, Datuk Wan Selamah Wan Sulaiman, has been appointed the first chair of ACCA s (the Association of Chartered Certified Accountants) newly created global Public Sector Forum. The Global Forum for the Public Sector, part of ten new Global Forums initiative launched in London earlier this month, will champion the many issues affecting the public sector around the world, including financing, governance, and capacity in the delivery of public services. It includes members who work at the highest levels of the public sector around the world, including four Auditor Generals.

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Accountant tells Bajan CLICO policyholders to accept 40 cents on the dollar - Stabroek News

(Barbados Nation) Barbadian policyholders and investors are being encouraged to go the liquidation route instead of allowing a new company to be formed out of the remnants of CLICO International Life Insurance Ltd.

Veteran chartered accountant Douglas Skeete told Friday?s corporate policyholders? meeting with judicial managers, Deloitte, that it would be ?far better? for policyholders to settle for the likely return of just over 40 cents to the dollar from liquidation, than to wait five years for a new company and a promise of 100 per cent returns.

The idea of a new company was offered by Deloitte as the best of five options when the court-appointed judicial managers presented their recommendations to policyholders last week Thursday. Individual policyholders were promised the full value of their policies if the governments of Barbados and the Eastern Caribbean inject capital into the new company.

But Skeete argued: ?It would be far better to take the 40 cents and go. I?m concerned with all that now has to be done, including transferring assets into this new company, looking for staff, opening bank accounts, setting up headquarters. I frankly don?t see all this happening in five years? time. In the meantime, the Executive Flexible Premium annuitants are not being paid any interest and I?m concerned about poor individuals who have put in money, cannot get a cent now and have to wait for the next five years or more. That is unacceptable,? Skeete told the gathering of about 20 people at the Lloyd Erskine Sandiford Centre.

Source: http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNEVV2r-xbo0bSKcdBk02nRILR-0XQ&url=http://www.stabroeknews.com/2011/news/regional/10/02/accountant-tells-bajan-clico-policyholders-to-accept-40-cents-on-the-dollar-2/

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