Category Archives: fools ‘n frauds

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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ExxonMobil to Pay Fine for Fracking Wastewater Dumping

Posted on 11 August 2013 by Ken Zino

The consent decree, lodged in the Middle District of Pennsylvania, is subject to a 30-day public comment period and almost certain court approval given the DOJ’s laughably lenient treatment of corporate criminals. Continue reading →

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Waterlogged Flood Cars – Tide Rising as Titles Falsified

Posted on 2 August 2013 by Ken Zino

Buyer beware and nowhere does that apply more than used flood cars that have been damaged by water that causes insurmountable problems after the vehicle is returned – often illegally – to service. Nearly two-thirds of these flood damaged cars are on the road in ten states – Texas, New Jersey, Pennsylvania, Kentucky, Louisiana, Illinois, New York, Florida, Mississippi and Virginia. However, as the research shows, crooks are moving flood cars to any state where unfortunately unknowing consumers will buy them. Continue reading →

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Halliburton to Plead Guilty to Criminal Destruction of Deepwater Horizon Oil Spill Evidence

Posted on 25 July 2013 by Ken Zino

Halliburton Energy Services will plead guilty to destroying evidence in connection with the Deepwater Horizon disaster in the Gulf of Mexico, the Department of Justice said today. Halliburton was charged with one count of destruction of evidence according to an information filling today in U.S. District Court in the Eastern District of Louisiana. Continue reading →

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Fuel Company Head Charged in Kickback Scheme

Posted on 22 July 2013 by Ken Zino

The former owner and operator of two Florida-based airline fuel supply companies appeared today in the U.S. District Court for the Southern District of Florida on charges of a kickback scam and defrauding Illinois-based Ryan International Airlines. Continue reading →

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Consumer Electronics Association Denies Distracted Driving

Posted on 17 July 2013 by Ken Zino

In a cynical, profit-motivated move, the head of the Consumer Electronics Association today said he would support a campaign to end texting and driving. “I have made a personal commitment not to text and drive, and to use my devices ‘responsibly’ while operating my car,” claimed Gary Shapiro the head of the pressure group for the $209 billion U.S. consumer electronics industry. Continue reading →

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