Barry minkow

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In explaining the subpoena, Minkow's website defended him in a surprising way. News organizations also didn't try to reach disgruntled former employees who had left the company with stories about its suspicious behavior. In reviewing a trailer for the movie about Minkow's life, Cavuto predicted an Oscar. Short of cash, he got a loan from Jack Catain, a Los Angeles businessman who had ties to organized crime. Nor did reporters look into Minkow's Interstate Appraisal Service office, which supposedly was doing millions of dollars in business but was a hole in the wall, Cole wrote. Left OR Right? When the judge ordered him to produce hospital records, Minkow was forced to concede that he had lied.

Cavuto over the years regularly invited Minkow on his show to weigh in on major figures who had fallen from grace. A Los Angeles Times investigation reported that Zzzz Best was a credit card fraud scam based on mostly fabricated orders. Minkow accused Lennar of not disclosing enough information about this to its shareholders, and also claimed a Lennar executive took out a fraudulent personal loan.

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After the television interview, Minkow's carpet-cleaning business took off — or so he claimed. Fox is owned by News Corp. But coming at the end of a lengthy, glowing story about Minkow, those paragraphs amounted to little more than a jarring non sequitur. According to the court record in the libel-and-extortion case in Miami, Minkow's motive was to bring Lennar to its knees financially, forcing it to settle with the client. When Lennar demanded e-mails and documents from Gilbeau's computer, Gilbeau said it had crashed and he had abandoned it in a San Diego hotel room. Due diligence is essential in evaluating the credentials and competence of new hires and becoming aware of any issues regarding personal integrity. If a candidate has a stellar credit history, he or she will have no hesitancy to give permission to conduct a credit check. He also has degrees in divinity and religion.

Minkow also stated in sworn deposition testimony that he had never shorted Lennar stock, a claim the Miami court record later would reveal as a lie. Several Wall Street investors liked what they saw, and sent him enough money to go after bigger targets.

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Afterward, he sought to redeem himself. Prosecutors estimated that as much as 90 percent of the company's revenue was fraudulent.

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After the television interview, Minkow's carpet-cleaning business took off — or so he claimed. I just had a case where the guy stole from an embezzlement victim.

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From this success, he formed the fraudulent Fraud Discovery Institute.

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Lessons from Minkow: Why Background Checks are Well Worth the Hassle