Tulsa (OK) to Hire Fraud Investigator

The City of Tulsa plans to hire a fraud investigator, after federal officials revealed a public corruption case Thursday that cost taxpayers millions of dollars.

Two former city workers and four local businessmen are accused of fraud and bribery. Larry Baker and Albert Martinez were high-ranking officials in Tulsa's engineering department.

The businessmen charged include Harlen Yocham of Yocham Enterprises; Max Wolf, president of Horizon Construction, Kenneth Shoemaker, president of FBS, Inc. and FBS Engineering; as well as Stewart Franklin, an accountant for FBS, Inc.

Tulsa city councilors are now questioning the checks and balances in place to detect fraud.

Read more at KJRH.com.

Operator of Christian Non-Profit Indicted in Fraud

Edward Purvis, the man who promised churchgoing investors in Arizona and 12 other states he could make them wealthy while funding Christian causes, was indicted Friday on 43 counts of fraud and theft.

Authorities accuse the 40-year-old Chandler man of operating a multimillion Ponzi-scheme through Nakami Chi Group Ministries International.

"These are very serious charges," Arizona Attorney General Terry Goddard said Friday. "Several hundred years (of prison) are in the offing."

The indictment comes on the heels of an $11 million restitution order imposed last month on Purvis and his partner Gregg Wolfe and their wives by the Arizona Corporation Commission, which regulates the sale of securities in the state.

Read the rest at The Arizona Republic.

Spain Opens Fruad Probe Against Madoff

Spain's anticorruption prosecutor has opened an investigation into Bernard Madoff's alleged fraud, which may cost clients of Banco Santander, the nation's largest lender and the owner of US-based Sovereign Bancorp, $3.1 billion.

The probe began last month, said an official at the prosecutor's office who asked not to be identified.

For more information, visit The Boston Globe.

Hotline Clogged in Fraud Investigation

Investors who fear they were fleeced by Richard S. Piccoli of Amherst and his Gen-See Capital Corporation, accused of running a multimillion- dollar Ponzi scheme, clogged a hotline that federal investigators set up Friday.

Postal inspectors said they spent all day taking information from investors but admitted that many were unable to get through.

“It’s been overwhelming,” Postal Inspector Raymond Williams said of the calls.

Read more at The Buffalo News.

Learn How to Avoid Health Care ID Theft

New federal regulations aimed at detecting potential health identity theft are changing some procedures at Grand Valley businesses.

Patients checking in at local hospitals or physicians’ offices can now expect to show photo identification at every visit. That wasn’t always the case, local hospital officials said.

In November, a new regulation from the Federal Trade Commission required all financial institutions and creditors to develop an identity theft prevention program. Health care providers fit into the category of creditor because they can extend credit to patients and report people to collection agencies.

Read more at the Grand Junction Sentinel.