Category Archives: fools ‘n frauds

Hyundai Cops Plea on Mileage Fraud Class Action

Posted on 23 December 2013 by Ken Zino

The fraud produced mileage claims that could be as much as 6 mpg higher than EPA tests showed. About 900,000 vehicles are affected in the largest mileage fraud in history, including the best-selling Kia Optima and Hyundai Elantra sedans. Both makers heavily advertise and promote fuel economy as cornerstones of their brands, of course. Continue reading →

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Prison Time for Perp in Odometer Fraud Case

Posted on 21 December 2013 by Ken Zino

A North Carolina man, Francis Marimo, will spend 18 months in prison for his role in an odometer fraud scam. Continue reading →

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BP Engineer Guilty of Obstruction of Justice in Deepwater Horizon Spill

Posted on 19 December 2013 by Ken Zino

Kurt Mix, a former engineer for BP, was convicted yesterday of intentionally destroying evidence requested by federal criminal authorities investigating the 20 April 2010, Deepwater Horizon oil spill. Mix, 52, of Katy, Texas, was convicted by a federal jury in … Continue reading →

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Odometer Fraud Continues – $760 Million lost annually

Posted on 16 December 2013 by Ken Zino

Odometer fraud remains a major problem for car owners and shoppers with more than 190,000 vehicles having their odometers rolled back every year. Continue reading →

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More Japanese Price Fixing from Stanley Electric

Posted on 27 November 2013 by Ken Zino

While the Obama Administration is pushing forward on a secret and job-destroying trade agreement with Japan, another Japanese company, Stanley Electric is caught as part of a huge price fixing cartel, which is hurting the U.S. auto industry and autoworkers as Oriental disdain for U.S. law continues unabated Continue reading →

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Japanese Price Fixing Scandal Expands Again. Now Toyo

Posted on 26 November 2013 by Ken Zino

Diogenes’ search for an honest man would be futile in Japan if the latest, but by no means the last, price fixing scandal is indicative of Asian scorn for western laws. Including Toyo, 22 companies and 26 executives have been charged in the Justice Department’s ongoing investigation into the automotive parts industry. All 22 companies have either pleaded guilty or have agreed to plead guilty and will pay more than $1.8 billion in criminal fines. Of the 26 executives, 20 have been sentenced to serve time in U.S. prisons or have entered into plea agreements calling for prison sentences. Continue reading →

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U.S. Chamber of Commerce Attacks EPA, Again, over Powerplant Emission Rules

Posted on 7 November 2013 by Ken Zino

In today’s what’s not news department, the Energy Institute President Karen Harbert of the U.S. Chamber of Commerce today called on EPA to ensure that any new powerplant emission rules are cost-effective, attainable, and don’t harm the American economy. Continue reading →

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September Unemployment National Scandal as Hiring Slows

Posted on 23 October 2013 by Ken Zino

September unemployment numbers finally released two weeks late show that a mere 148,000 jobs were added in September, keeping the unemployment rate officially above 7%. More than 11 million people who want to work are idled in an ongoing economic and social crisis. Continue reading →

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Nine Japanese Auto Parts Firms Guilty of Price Fixing

Posted on 26 September 2013 by Ken Zino

Including those announced today, 20 companies and 21 executives have been charged in the Antitrust Division’s ongoing investigation into price fixing and bid rigging in the auto parts industry, in a scandal that keeps on growing in size and raises serious systemic corruption issues for some of the largest and respected Japanese firms. AutoInformed predicts more indictments are coming. Continue reading →

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Panasonic Exec Indicted in Toyota Price Fixing Scam

Posted on 24 September 2013 by Ken Zino

A federal grand jury in Detroit has indicted a Panasonic Automotive Systems executive for his role in an international conspiracy to fix prices of switches and steering angle sensors sold to Toyota. Continue reading →

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Two Fujikura Executives Indicted for Price Fixing

Posted on 20 September 2013 by Ken Zino

A federal grand jury in Detroit returned an indictment against two Fujikura Ltd. executives for their roles in an international conspiracy to fix prices of auto parts used in automotive wire harnesses sold to Subaru and installed in U.S. cars. Continue reading →

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G.S. Electech Executive Indicted for Price Fixing

Posted on 18 September 2013 by Ken Zino

The criminal charge was the first to be filed in Kentucky where Toyota has extensive operations as part of an ongoing Department of Justice investigation into anti-competitive conduct in the automotive parts industry. Continue reading →

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Ford Lowers C-Max Hybrid Mileage Claims

Posted on 15 August 2013 by Ken Zino

Ford Motor Company said today that it is lowering the C-Max hybrid fuel-economy label after being challenged by customers, the EPA and numerous independent automotive testing sites, including AutoInformed. The revised 2013 C-Max label has a combined fuel economy value of 43 mpg, slightly better – in theory – to the combined label of 42 mpg for the Toyota Prius v. Ford’s previous ratings were 47 city/47 highway/47 combined mpg claim for the new 2013 Fusion and C-Max hybrids. Continue reading →

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Florida Fuel Company Owner Indicted for Fraud

Posted on 15 August 2013 by Ken Zino

A Florida-based airline fuel supply company and its former owner and operator were indicted on charges of participating in a scheme to defraud Illinois-based Ryan International Airlines, according to the Department of Justice. Continue reading →

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JPMorgan Chase Employees Charged With Financial Fraud

Posted on 14 August 2013 by Ken Zino

“Our financial system has been hurt in recent years not just by risky bets gone bad, but also, in some cases, by criminal wrongdoing,” opined Attorney General Holder. Critics maintain Holder has done little to prosecute financial fraud at the ratings agencies and on Wall Street that led to the collapse of the U.S. economy, cut American wealth in half, and created the highest rates of unemployment since the Great Depression that is still hurting the American middle class. Continue reading →

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