fraud

 

Enron Execs Convicted on Multiple Counts

A Houston jury on Thursday convicted former Enron Corp. executives Kenneth Lay and Jeffrey Skilling of fraud that led to the energy companys collapse in 2001. Lay, the companys founder, was convicted on all six counts and Skilling, the former CEO, on 19 of 28 counts. Both men will be sentenced on Sept. 11. News […]

BSG Introduces Credit Processing

BSG Clearing Solutions  today announced a credit card processing solution for North America. The service provides secure credit card processing for all major credit card associations and adds a comprehensive analytic fraud service for transaction risk management. BSG, a provider of clearing and settlement, payment services and financial risk management, began merchant implementations and processing […]

Azure Launches Certo 2

Revenue assurance vendor Azure Solutions Inc. has unveiled Certo 2, the latest version of its automated, real-time platform for analyzing, detecting and correcting revenue leakage. The vendor said it already has two Tier 1 customers for Certo 2, which can be deployed as a managed solution or brought in-house. It interfaces with existing revenue-assurance applications […]

Back Office

Revenue assurance may seem an innocuous process of making sure operators get paid for everything they deliver, but the reality is far darker. While systemic miscommunication in data collection and mediation, order-entry systems, rating and billing and other OSS components account for plenty of revenue leakage, carriers also need to think beyond technology and patrol […]

Ebbers Sentenced to Prison

The final chapter in the saga of WorldCom Inc. was revealed Wednesday when its former chief executive Bernie Ebbers was sentenced to 25 years in prison for an $11 billion accounting fraud that caused the telecommunications titan to file the largest bankruptcy in U.S. history. Ebbers was credited with transforming Mississippi-based WorldCom into one of […]

Ebbers to Forfeit Assets

Bernie Ebbers, the former chief executive of WorldCom Inc., will have lost more than his freedom if he goes to jail for his role in the $11 billion accounting fraud that brought the telecom titan into the largest bankruptcy in U.S. history. Most of Ebbers assets will be distributed to WorldCom shareholders and bondholders under […]

Former Qwest CFO Charged with Insider Trading

Robin Szeliga, the former CFO of Qwest Communications International Inc., has been charged with one count of insider trading, federal prosecutors announced Thursday. Prosecutors allege Szeliga had information about her employers true operating performance and financial condition that was not disclosed to the public when she sold 10,000 shares of Qwest common stock, netting a […]

Azure Offers Hosted Revenue Assurance

Azure Solutions Ltd. announced a hosted revenue assurance product, Azure RA Bureau, at Billing and OSS World 2005. The solution is based on recent acquisition Connexn Technologies flagship product, Certo. Our vision of revenue assurance extends beyond traditional point solutions to include each and every network element where revenue leakage may occur, says John Cronin, […]

Enron Broadband Trial Imminent

Five former Enron executives who worked at the defunct broadband services unit are set to go to trial on a range of charges levied by the Department of Justice. The search for a jury began Monday, the Houston Chronicle reported. Executives from Enron Broadband Services Inc. (EBS) are accused of 170 counts of conspiracy, wire […]

Global Crossing Says SEC Concludes Probe

Global Crossing Ltd., the network services operator, on Monday announced that the Securities and Exchange Commission has concluded an investigation into business practices at the company without assessing a fine or making a finding of fraud. An SEC order found that Global Crossing did not comply with certain reporting obligations under securities laws, Global Crossing […]

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