A Money Launderer's Contrasts and His Need to 'Amend the Damage'

Humberto Aguilar’s life has been a study of polarizing contrasts. He told conference attendees at Wednesday’s general session that after graduating from the University of Florida Law school in 1978, he wanted “to be the best criminal lawyer” he could be. Yet, shortly after beginning his law practice he began laundering money for his drug-dealer clients. He was in the running for a state judgeship, but, in 1990, he was indicted on 27 counts of racketeering, money laundering and other charges for assisting his clients. “I went to prison because I committed a crime,” but he also said, “I never considered myself a criminal.” He was a peace-loving attorney who never stole from his clients, but he shot two hit men in a defensive gunfight — wounding one and killing another.

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Ranbaxy Whistleblower Congratulates, Exhorts Attendees

Dinesh Thakur, the whistleblower in the huge Ranbaxy USA drug fraud case, challenged attendees to increase their efforts to combat health care fraud in countries beyond the U.S. “Health care fraud is one of the most heinous frauds there is,” Thakur said during the Wednesday closing general session. “And there is more of a need for you — with all the wonderful work you do in the financial area — to expand that and look at health care fraud.”

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Bitcoin: Fraud's New Best Friend

Bitcoin: Fraud's New Best Friend

"Bitcoin is the buzzword."

Jim Butterworth, CFE, and executive director of services at ManTech, explored virtual currencies, such as Bitcoin (BTC), in his session, “Bitcoin and Virtual Economies: Fraud’s New Best Friend.” In this breakout session, Butterworth explored the concept that while virtual currencies may be the future of financial technology, they’re also stepping stones to the expansion of fraud’s playground.

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The Wolf of Wall Street: From the Prosecutor’s Seat

When did Jordan Belfort, “The Wolf of Wall Street,” make the majority of his money committing fraud? According to former U.S. Attorney Joel M. Cohen, Belfort’s fraudulent activities picked up dramatically in 1994, after he was charged with securities fraud and barred from brokering by the Securities and Exchange Commission (SEC).

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Taking the Plunge Into the Anti-Fraud Profession

Taking the Plunge Into the Anti-Fraud Profession

How do you make a career fighting fraud? This question formed the focus of a panel discussion among key anti-fraud experts on Tuesday at the 25th Annual ACFE Fraud Conference. Introduced and moderated by Bruce Dubinsky, CFE, CPA, CVA, CFF, managing director at Duff and Phelps, LLC, the panel covered a lot of ground and answered questions from the audience about making inroads into the profession.

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The Latin American Business Style: Common Risks and Challenges to Doing Business in the Region

The Latin American Business Style: Common Risks and Challenges to Doing Business in the Region

Latin America is an exotic and extensive land — full of social and political diversities. Yet, just like anywhere else, it struggles with fraud and corruption. “The Spaniards and Portuguese came to this region to conquer and take away gold and precious metal; in many ways, the culture of Latin America is still the same today,” explained Fernando Cevallos, CFE, LSS, director at PwC in Mexico City, Mexico, today in his breakout session. 

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