JOBS Act Leads to First Fraud Case

In March of this year we blogged about the, then proposed, JOBS Act and how this act would eliminate important disclosures meant to protect investors from fraud. The Act lowers the regulatory hurdles for companies who are defined as emerging growth companies. The NY Times reported this week that a company named Caribbean Pacific Marketing is the first company that got its start under the JOBS Act and is being prosecuted for fraud. Here are a few bytes from the NY Times:

Lance Armstrong Investigation: Signs of Corporate Corruption

Lance Armstrong has now officially earned the title as the Bernie Madoff of sporting fraud. To fraudulently orchestrate an operation that led to winning the Tour de France seven times in a row all the while running a sophisticated doping operation for himself and his teammates is no small feat. Just as Bernie Madoff could never run a $50 billion Ponzi scheme on his own, Lance needed a lot of players to go along with it. Recent news reports are now suggesting that Lance had help from corporate sponsors to pull off this tragic deception...

Lance Armstrong Investigation: A Documentary

Australian television has a very well done documentary on the Lance Armstrong investigation at this link. Some highlights include videos of Lance and many others testifying in the SCA Promotions lawsuit from a few years ago. Also, Phil Liggett finally admits in an interview that Lance must have doped. There is a lot more testimony and details in the documentary that you might enjoy if you've been following this fraud. I agree with Betsy Andreu's assessment in the documentary that Lance is the Bernie Madoff of sport.