FBI’s Top Ten News Stories for the Week Ending March 20, 2009

Again this week, financial related crimes led the list of the FBI’s top ten news stories. The Bernie Madoff saga continues to drag others into its net as the ongoing investigation into the world’s largest Ponzi scheme continues to unfold. This week it is Mr. Madoff’s accountant who has been caught in the web.

As awareness of Ponzi schemes has been highlighted in the law enforcement world, another has been uncovered, this time in Georgia, where the operator of a local financial advisory company has been accused of operating a $25 million fraud.

The full list, as announced by the FBI, follows and complete details of any of the stories are available at www.fbi.gov,

1. New York: Bernard Madoff’s Accountant Charged with Fraud Stemming from Accounting Violations

David G. Friehling, CPA, the accountant for Bernard L. Madoff Investment Securities, LLC, was charged with securities fraud, aiding and abetting investment advisor fraud, and four counts of filing false audit reports with the SEC

2. Boston: Ex-Pfizer Manager Found Guilty of Obstruction

Thomas Farina was convicted of obstruction of justice when he caused a sales representative under his direction to alter documents and backdate the alterations to delete evidence of the promotion of a drug for uses and dosages not approved by the FDA.

3. New York: Gambino Family Soldier Convicted of Racketeering Conspiracy

Charles Carneglia was convicted of racketeering conspiracy, including murder, murder conspiracy and extortion. Carneglia was a soldier in the Gambino Organized Crime Family of La Cosa Nostra and was a member of the inner circle of hit men.

4. Los Angeles: Ex-FBI Agent and Accomplice Convicted

Vo Duong “Ben” Tran and Yu Sung Park were convicted on charges related to a scheme to commit a home invasion robbery at a residence believe to be a drug “stash house.” Tran’s FBI employment was terminated in 2003.

5. Atlanta: Currency Trader Charged with Operating $25 Million Ponzi Scheme

James G. Ossie, founder and principal of “CRE Capital, Inc.,” was indicted on wire fraud charges. Ossie allegedly defrauded over 120 investors in nine months in his investment fund for private clients focused on options contracts in foreign currencies.

6. Albany: On-Line Organ Transplant Broker Charged

Jerome Howard Feldman was indicted for carrying out a scheme to defraud desperately-ill victims who paid large sums of money and traveled to the Philippines to receive organ transplants. Feldman advertised on the web site www.liver4you.org.

7. Newark: Federal Agents Shut Down an International Smorgasbord of Crime

Operation Black Eagle resulted in charging 26 individuals with a laundry list of crimes including narcotics and firearms trafficking, money laundering, interstate transportation of stolen property and criminal conspiracy.

8. Richmond: Business Owner Convicted in $126 Million Fraud

The former owner of The 1031 Tax Group LLP, Edward H. Okun, was convicted on charges of conspiracy to commit mail and wire fraud, money laundering, bulk cash smuggling, and perjury.

9. San Francisco: Hedge Fund Manager Arrested in Hong Kong on Embezzlement Charges

Albert Ke-Jeng Hu, a Silicon Valley Hedge Fund manager, was arrested in Hong Kong on wire fraud charges.

10. FBI Director Recognizes Distinguished Community Leaders

Director Robert S. Mueller, III recognized the recipients of the 2008 Director’s Community Leadership Award. These leaders, selected by their area FBI office, have demonstrated outstanding contributions to their local communities.