Saturday, August 26, 2006

CEO Sentenced To Identity Theft for $1 Million Fraud Against Employees

CEO-Sentenced-To-Identity-Theft-for-$1-Million-Fraud-Against -Employees-audio post - click to play

A 38 year old computer whiz who ran his own consulting
was recently sentenced to 7 years in prison for
his years of
identity theft against family members,
investors, former
employees, customers, banks, and
even the federal

All totalled his fraudulent crimes amount to over

The man tried to justify his identity theft fraud crime spree
by stating "...was looking out for the financial
well-being of
other people".

More like looking out strictly for himself as this identity
thief was sentenced Wednesday for crimes dating
his business dealings beginning in the
late 1990s.

He was indicted in 2004 on bank fraud and other charges
in a 12-count indictment and re-indicted on 67 counts
in 2005.

"The re-indictment came after prosecutors discovered the
Dundon (identity thief) altered a document he later gave
to the IRS and created a fictitious e-mail account to thwart
federal investigators, Lovric said." The altered document,
created in 2001, mentioned credit cards that were obtained
in 2002 and 2003, Lovric said."

Furthermore, this identity thief fraudster has a history
of not being truly remorseful and making good on promises
to the judge to help repair the damage to his victims.

"After his 1996 conviction for bank fraud...Dundon failed
to make full restitution. He repaid around $20,000 of
about $160,000 he owed his victims from 1996"

His identity theft and fraud victim's credit ratings were
ruined after this identity thief used their identities
obtain loans and credit. Former employees
discovered their
tax liabilities after the identity
thief did not pay tax
money owed to the IRS
using their personal identities.

So, our tip for today is to catch early on the often times
hidden identity theft crimes committed against your good name.
Seek out your very own alerting system against suspicious
account and credit activity in your name. Enroll in a quality
credit and bank account monitoring service which will
forward alerts to you whenever activity falls outside
of the norm

And as always, be a good friend and share these tips you've
learned with a co-worker or even a family member so they too
can take their very own prevention steps against identity theft.


At 12:23 AM, Anonymous Anonymous said...

I always knew the boss could get you - as in fire you unjustly or deny promotions and raises due.

But this article raises a whole new level of apprehension over what a really bad boss can do to you.

Since you advocate getting credit monitoring as a preventitive measure, do you think the boss would actually pay for it as an employee benefit? :>

At 1:11 AM, Blogger agent99 said...

You raise a very interesting proposition with the credit monitoring as a employee benefit - of course paid by the boss.

We would certainly think it would be in the interests of all the good bosses and CEO's out there to advocate credit monitoring as a defined employee benefit paid by the employer.

Laws like FACTA and the potential lower insurance rates for employers to guard against class action lawsuits might make for a compelling argument for you to get your paid credit monitoring.

Let us know what the outcome of your pitch to the boss results in.

At 1:16 AM, Blogger agent99 said...

Also, here's an article we recently published which dives into more detail related to the question you posed to us.


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