Gil Blumenthal, CPA

Email : phxmedi8r@aol.com

New for 2011
Fraud Update for CPAs

The FBI is investigating the now-defunct Solyndra in connection with allegations of financial statement fraud. Solyndra received more than $500 million in government loans from the Department of Energy (DOE) as part of the stimulus package, but when it filed bankruptcy at the end of August 2011, the government realized it was not as healthy as it had presented itself in financial statements submitted to obtain and then renew government financing.

http://www.acfeinsights.com/acfe-insights/2011/10/5/solyndra-financial-statement-fraud-revealed.html