Here is what we are reading today:
Starting A Discussion On White Collar Crime And Recovery (Forbes) - There are too many stories, false stories I might add, about the cushy lives of white collar offenders behind bars. While prison is indeed a punishment, it is the least of all the punishments an offender receives ... but for their families it is the ultimate punishment.
When Good People Do Bad Things (DealBook) - At the sentencing hearing for Kareem Serageldin, a former senior executive at Credit Suisse, Judge Alvin K. Hellerstein of the Federal District Court in Manhattan pointedly asked why someone in such a position would engage in misconduct. As DealBook reported, the judge asked, “Why do so many good people do bad things?”
The Global Fraudster Profile (KPMG) - Fraud specialists have long debated whether it is possible to develop a profile of a fraudster that is accurate enough to enable organizations to catch people in the act of fraud or even beforehand. The prediction of a crime before it occurs is, at least for now, the subject of science fiction. But an analysis of the constantly changing nature of fraud and the fraudster can help organizations stiffen their defenses against these criminal activities. Forewarned is forearmed.
Ex-Bank Austria Head Investigated In Madoff Case: Prosecutors (Reuters) - he Vienna prosecutor's office said on Monday it had widened its investigation into Bank Austria's dealings with convicted fraudster Bernard Madoff to include the bank's former Chief Executive Gerhard Randa.
Hollywood, FL Doctor's Staffer Accused Of Theft (SunSentinel) - A trusted former employee of a Hollywood dermatologist is accused of forging a check and using a business credit card to steal more than $10,900 in cash advances and to buy furniture. Lyndsay Ann Westcott, 33, of Plantation, is charged with larceny and fraud, uttering a false instrument, court records show.