corporate cards

  • What? No good?


    Ex-Sterne Agee CEO Didn’t Know His Corporate Card Wasn’t Meant To Be Used On Boats, Trucks, Condos, Yachts, Etc

    If anyone had said anything to James Holbrook when he first started there about that sort of thing being frowned upon…cause, you know, he’s worked in a lot of offices and people do that all the time.

    / Dec 12, 2014 at 2:02 PM
  • madoffdancing1


    Data Entry Professional Who Might’ve Gotten A Free Trip To Disney Saw No Reason To Be Suspicious About Lack of Expense Rules At Bernard L. Madoff Investment Securities

    Bernard Madoff was generous to his employees and didn’t have policies in place for corporate credit cards used by executives to pay for family vacations and thousands of dollars worth of wine, a jury was told. There wasn’t an obvious business purpose for many charges, including trips to Disney World and Las Vegas, that Madoff’s […]

    / Oct 23, 2013 at 3:20 PM
  • News

    Former Madoff Employee Pleads Guilty To *A* Madoff Securities Scam Just Not *The* Madoff Securities Scam

    You know what has got to suck? When you decide to start charging stuff that doesn’t fall under “business expenses” to your corporate card and engage in a few other amateur hours scams that probably wouldn’t have been found out (or, if discovered, not taken to the authorities because your boss had high tolerance for fraud) but then they are because the CEO of your firm had to go and engage in the largest Ponzi scheme on record, which shone an uncomfortable light on company personnel and all of the cheese, popcorn, and salsa of the month clubs you joined (for example).  Craig Kugel knows what we’re talking about.

    The son of a longtime trader for convicted Ponzi scheme operator Bernard Madoff pleaded guilty to conspiracy and other criminal charges Tuesday, but denied any involvement in the decades-long fraud. Craig Kugel, the son of David L. Kugel, a former supervisory trader in Madoff’s proprietary-trading operation, admitted to filing false forms that claimed people were on the Madoff payroll when they didn’t actually work for the firm and to not declaring as income personal expenses charged to the firm’s corporate credit card. Those individuals were paid salary and benefits, but weren’t actual employees, he said. “I am sorry for my lapses in judgment in committing these federal crimes, but I want to make clear I had nothing to do with the Madoff Ponzi scheme and I was never involved in the Madoff trading operation,” Craig Kugel said at a hearing before U.S. District Judge Laura Taylor Swain in Manhattan.

    Ex-Madoff Employee Pleads Guilty to Conspiracy [WSJ]

    / Jun 5, 2012 at 6:18 PM

Our Sites

  • Above the Law
  • How Appealing
  • ATL Redline
  • Breaking Defense
  • Breaking Energy
  • Breaking Gov
  • Dealbreaker
  • Fashonista