Category Archives: fools ‘n frauds

Ex Takata Exec Indicted for Seatbelt Price Fixing

Posted on 5 June 2014 by Ken Zino

Including Nakajima, 35 individuals have been charged in the government’s ongoing investigation into price fixing and bid rigging in the auto parts industry, 24 of whom have pleaded guilty or agreed to plead guilty. Of those, 22 have been sentenced to serve prison terms ranging from a year and one day to two years. Additionally, 27 companies have pleaded guilty or agreed to plead guilty and have agreed to pay a total of more than $2.3 billion in fines. Continue reading →

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Ex PetroTiger CEO Indicted for Bribery and Kickbacks

Posted on 12 May 2014 by Ken Zino

Joseph Sigelman, 43, of Miami and the Philippines, was indicted by a federal grand jury in the District of New Jersey and charged with conspiracy to violate the FCPA and to commit wire fraud, conspiracy to launder money, and substantive FCPA and money laundering violations while working for PetroTiger. Continue reading →

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Department of Transportation Kisses Big Oil and Railroad Butts

Posted on 9 May 2014 by Ken Zino

The problem, the deadly problem, is that many of the tank cars in use by Big Oil and the railroads to move crude oil are not safe – as the Lac-Mégantic derailment that killed 42 civilians and wiped half of a southern Quebec town proved. Continue reading →

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Japanese Auto Parts Maker Showa Guilty of Price Fixing

Posted on 23 April 2014 by Ken Zino

Showa Corp., an automotive parts manufacturer based in Saitama, Japan, will plead guilty and pay a $19.9 million criminal fine for its role in a price fixing conspiracy. Continue reading →

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Bridgestone Exec to Plead Guilty For Price Fixing U.S. Car Parts

Posted on 19 April 2014 by Ken Zino

The Japanese auto parts price fixing scandal continues to grow with more indictments and prison time likely coming. To date, 33 people have been charged in the government’s ongoing investigation of the auto parts industry. Additionally, 26 companies have pleaded guilty or agreed to plead guilty and have agreed to pay a total of more than $2.29 billion in fines. Continue reading →

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Two Mexican Illegals Charged in Wisconsin for Odometer Fraud

Posted on 4 April 2014 by Ken Zino

The indictment alleges that from late 2009 through February 2014, the defendants rolled back the odometers on at least 146 vehicles. Continue reading →

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Kerr-McGee $5.15 Billion Cleanup Settlement Largest in History

Posted on 3 April 2014 by Ken Zino

“If you are responsible for 85 years of poisoning the earth, then you are responsible for cleaning it up,” said U.S. Attorney Bharara. “That’s why this case was brought.” Continue reading →

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Odometer Fraud and Carfax Scam in New York Uncovered

Posted on 24 March 2014 by Ken Zino

Capicchioni also took steps to hide his odometer fraud scheme. He checked the Carfax public database to see if it included a mileage entry that was higher than the false, lower mileage to which he reset the odometer. When Carfax included a higher mileage, Capicchioni submitted to Carfax fraudulent documentation in the name of the vehicle’s prior owner, in order to have the higher mileage reading removed. Continue reading →

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Toyota Motor Guilty of Criminal Fraud. Cops $1.2 Billion Plea

Posted on 19 March 2014 by Ken Zino

This appears to be ‘cash register justice’ at its worst. Toyota is buying its way out of its blatantly illegal behavior where people died, and former Toyota employees working at NHTSA, the U.S. safety regulator, stalled an investigation and needed recalls for years. Continue reading →

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Consumers Will Commit Fraud for Cheaper Car Insurance

Posted on 19 March 2014 by Ken Zino

However, in the bold new world of snooping, two thirds (64%) of people are comfortable with a telematics type of product that would share information about the events leading to a traffic accident, in order to help determine which driver was at fault. Continue reading →

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Political Grandstanding Starts on GM Ignition Switch Deaths

Posted on 11 March 2014 by Ken Zino

In the dysfunctional ways of of now completely partisan Washington, the Republican controlled “do nothing” House is looking for political advantage here while giving the appearance that it is actually performing its legislative duties. This laughable proposition – given the record of the past decade- is increasingly hard to put forth to skeptical taxpayers of both parties. Continue reading →

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Denso Exec Guilty for Obstructing Parts Price Fixing Probe

Posted on 22 February 2014 by Ken Zino

Kazuaki Fujitani, once a director of Denso in Japan will serve one year and one day in a U.S. prison instead of the maximum price fixing penalty of 20 years in prison and a criminal fine of $250,000 for individuals. Continue reading →

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Bridgestone Latest Japanese Scofflaw as Auto Supplier Price Fixing Scandal Expands Yet Again

Posted on 13 February 2014 by Ken Zino

Including Bridgestone, 26 companies have pleaded guilty or agreed to plead guilty in the department’s ongoing investigation into price fixing and bid rigging in the automotive parts industry. Continue reading →

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More Japanese Price Fixing. Diamond Electric Execs Guilty

Posted on 1 February 2014 by Ken Zino

Including the latest charges, 28 individuals and 24 companies have caught in the government’s ongoing investigation into price fixing and bid rigging in the auto parts industry. Continue reading →

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Las Vegas Biofuels Fraud Revealed in latest EISA Scam

Posted on 20 January 2014 by Ken Zino

Two men were indicted by a federal grand jury in Las Vegas for offenses involving the badly audited federal renewable fuels program that passed out taxpayer money for the production of biodiesel among other things. Continue reading →

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