Friday, January 09, 2009

Barry Minkow Calls Lennar Corporation a "Financial Crime in Progress"

In a video just posted on YouTube late Thursday evening, convicted felon turned fraud fighter Barry Minkow (co-founder of the Fraud Discovery Institute) called Lennar Corporation (NYSE: LEN) a "financial crime in progress."

He added:

We know fraud and you're (Lennar) just fraud.... I'll be back very soon with interviews from past employees and interviews from experts that further corroborate how Lennar Corporation is a financial crime in progress and will not be allowed to get away with this by taking advantage of people any more.

Note: Bold print and italics added by me. Bracketed information added by me for clarity.

Barry Minkow plans on issuing a "top ten red flags for fraud at Lennar Corporation" on a new web site called lenn-ron.com Friday afternoon.

According to Minkow, he was brought into this case by a local California developer client who alleges that they were defrauded by Lennar.

This blog will provide more details soon. Until then, please watch the video.

Written by:
Sam E. Antar (former Crazy Eddie CFO and a convicted felon)
Disclosure (Updated):
I am not short or long Lennar Corporation. The Fraud Discovery Institute and Barry Minkow disclosed that they are working on behalf of a paying client and do not have any position in Lennar securities, short or long.Over a year ago, I provided funds to Fraud Discovery Institute (FDI) to help pay costs of its investigations, though I had no control over any monies spent. I am not an owner, manager, employee, or consultant of Minkow or FDI and I have not received any compensation from them.

3 comments:

Anonymous said...

Whoa!

John said...

Post your scam incidents on Scampond.com, it is easy to post and easy to search like google.

CK said...

Looks like Minkow was the real fraud.

http://blogs.laweekly.com/informer/2010/12/barry_minkow_destroys_evidence.php

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