Two stories of people attempting to swindle Big Tech. 

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Sources:

• Verified pro-Nazi X accounts flourish under Elon Musk [NBC]
• U.S. v. Evaldas Rimasauskas [SDNY]
• Lithuanian Man Extradited For Theft Of Over $100 Million In Fraudulent Business Email Compromise Scheme Against Multinational Internet Companies [DOJ]
• Man Pleads Guilty To Phishing Scheme That Fleeced Facebook, Google Of $100 Million [NPR]
• Lithuanian Man Pleads Guilty To Wire Fraud For Theft Of Over $100 Million In Fraudulent Business Email Compromise Scheme [DOJ]
• Leader of Fraud Ring Sentenced [FBI]
• North Carolina Musician Charged With Music Streaming Fraud Aided By Artificial Intelligence [DOJ]
• US v. Michael Smith [SDNY]
• Spotify Paid Over $4.5 Billion to Music Publishers Over the Last Two Years, So Why Are Songwriters Struggling? [Variety]
• A Billion Streams and No Fans [Wired]
• Owner And Two Managers Of Health Care Practice Agree To Pay $900,000 To Resolve Allegations Of Medically Unnecessary Testing [DOJ]

Over the course of Erik Lie’s career, seemingly small decisions have transformed into defining moments. Everything from leaving his native Norway to study at the University of Oregon, to a squash partner’s nudge that he pursue a career as a finance professor. But it was his choice of a research topic—executive compensation—that led to the most significant moment of all: uncovering one of the most explosive corporate scandals of the 21st century.

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Connect with Erik Lie
https://eriklie.com/
https://www.linkedin.com/in/erik-lie-627a7351

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Sources:

• On the Timing of CEO Stock Option Awards [Management Science]
• Does backdating explain the stock price pattern around executive stock option grants? [Journal of Financial Economics]
• He's Making Hay As CEOs Squirm [BusinessWeek via Wayback Machine]
• Erik Lie [Time 100 via Wayback Machine]
• Backdating Scandal Ends With a Whimper [NYT]
• Erik Lie [Iowa Tippie College of Business]
• Catching Cheats | Everyday Forensics to Unmask Business Fraud [Berret-Koehler]
• Meet the Fraud Professor: Daniel J. Taylor of The Wharton School [OMF]

A scrappy Flemish speech recognition company tries to put its hometown on the global tech map.

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• (00:00) - A Pie to the Face

In less than 10 minutes, you can earn NASBA-approved accounting CPE after listening to this episode. Download our mobile app, sign up, and look for the Oh My Fraud channel. Register for the course, complete a short quiz, and get your CPE certificate.

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Sources:

• How Hype Hurt Lernout & Hauspie [Bloomberg via Wayback Machine]
• How High-Tech Dream Shattered In Scandal at Lernout & Hauspie [WSJ]
• Lernout & Hauspie Speech Products: Financing From Start-up through IPO [INSEAD, Herwig Langohr,  Benoit Leleux,  Danny Lein, July 2000, accessed on Sept. 16, 2025]
• Lernout & Hauspie Speech Products: The Question [INSEAD, Arnoud De Meyer,  Bart Pycke, January 1998, accessed on Sept. 16, 2025]
• Quarterdeck Office Systems [Wikipedia]
• Patent Is Won By Quarterdeck [NYT]
• Internet Hype Gives New Life to Quarterdeck Stock [LAT]
• Gaston Bastiaens [Apple.Fandom]
• Today in Apple history: Apple exec bets his wine cellar on Newton [CultofMac]
• Will Microsoft's Stake in Lernout & Hauspie Drive Growth in Speech? [Speech Technology Magazine]
• In Brussels, Gates Takes a Pie in the Face [Reuters via Wayback Machine]
• Bill Gates Being Hit in the Face With a Pie (1998) [YouTube]
• Noël Godin [Wikipedia]
• He Plasters Paris’ Elite With Cream Pies [LAT]
• Bernard-Henri Levy Pied again in Belgium [YouTube]
• FM Interviews: Noël Godin [First Monday]
• Lernout & Hauspie Shares Drop Amid Puzzling Revenue Results [WSJ]
• Lernout & Hauspie Surges In Korea, Raising Questions [WSJ]
• Lernout's Bastiaens Will Step Down From CEO Post at Software Concern [WSJ]
• Lernout to Refile Financial Reports; Co-Founders Resign as Chairmen [WSJ]
• Lernout Files for Bankruptcy Protection, Says Cash at South Korean Unit Is Missing [WSJ]
• The Talk of Flanders Has Most Speechless [AP]
• Lernout & Hauspie Speech Products, N.V., Litigation Release No. 17782, Accounting and Auditing Enforcement Release No. 1648, October 10, 2002 [Securities and Exchange Commission]
• Lernout & Hauspie Speech Products, N.V., Litigation Release No. 18014, March 4, 2003 [Securities and Exchange Commission]
• Lernout & Hauspie Founders Guilty in Fraud [WSJ]
• Goldman Sachs and the $580 Million Black Hole [NYT]

Kim Sutherland has 14 different email addresses. She doesn’t suggest you do the same, but she does think a lot about fraud in her job as the Global Head of Fraud & Identity at LexisNexis Risk Solutions. As a follow-up to the last episode, Caleb and Kim discuss the various dimensions and the growing prevalence of reward point / loyalty fraud.

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• (00:00) - Introduction and CPE Opportunity

In less than 10 minutes, you can earn NASBA-approved accounting CPE after listening to this episode. Download our mobile app, sign up, and look for the Oh My Fraud channel. Register for the course, complete a short quiz, and get your CPE certificate.

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Learn More About LexisNexis
https://risk.lexisnexis.com/
 
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LinkedIn: https://www.linkedin.com/in/ksutherland365

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Rewarding customer loyalty is probably as old as commerce. These days, consumers accumulate hundreds, thousands, sometimes even millions of points that can be used to acquire everything from their favorite drink, to airline tickets, or simply pay a balance on a credit card. The fact that these rewards have an intrinsic value is something many easily forget about, making them a great target for fraud.

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In less than 10 minutes, you can earn NASBA-approved accounting CPE after listening to this episode. Download our mobile app, sign up, and look for the Oh My Fraud channel. Register for the course, complete a short quiz, and get your CPE certificate.

https://www.earmark.app/

Download the app:

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CONNECT WITH CALEB
LinkedIn: https://www.linkedin.com/in/calebnewquist/

Sources:

• The lucrative business of airline loyalty schemes [AFR]
• A History of US Airline Deregulation [Travel Insider via Wayback Machine, accessed on Aug 29, 2025]
• Alaska Airlines miles stolen: What to do if your account is hacked [Fox13 Seattle]
• Alaska Airlines customers complain of possible hack after miles stolen from accounts [KIRO 7]
• Check your mileage plans! (Mine was hacked) [r/AlaskaAirlines]
• Mileage Account Hacked [r/AlaskaAirlines]
• My Southwest Rapid Rewards account was hacked: How I got my points back [The Points Guy]
• My AAdvantage account was hacked: Here's what happened and how you can protect yourself [The Points Guy]
• Largest Employer by State 2025 [World Population Review]
• Sam’s Club [Wikipedia]

Rewards Points Scheme Nets Arrest; More Sac County Victims Likely [Folsom Times]

Following her sudden resignation, the longtime treasurer of a small Arizona county faces questions about her time in office.

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• (00:00) - An Unexpected Resignation

In less than 10 minutes, you can earn NASBA-approved accounting CPE after listening to this episode. Download our mobile app, sign up, and look for the Oh My Fraud channel. Register for the course, complete a short quiz, and get your CPE certificate.

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Sources:

• Santa Cruz County’s Industry Clusters [SantaCruzCenter.org]
• County Treasurer Elizabeth Gutfahr resigns [Nogales International]
• Unrecorded money transfers trigger FBI investigation on former Santa Cruz Co. treasurer [News4Tucson]
• County Tells School, Fire Districts That Over $4 Million Has Disappeared [Patagonia Regional Times]
• County BOS, SEFD, Sonoita School District Release Statements on Missing Funds [Patagonia Regional Times]
• Supervisors Told $39.4 Million in County Funds Is Missing [Patagonia Regional Times]
• Report sheds light on Santa Cruz Co. Treasurer's alleged theft of $39 million [KGUN]
• A Santa Cruz County official is accused of stealing $39M. A lawmaker wants tighter controls [Arizona Republic]
• Santa Cruz County v. Elizabeth Gutfahr, et al.
• U.S. v. Elizabeth Gutfahr
• Former Arizona Elected Official Pleads Guilty to Embezzlement of More than $38M of County Funds [DOJ]
• Former Santa Cruz County Treasurer Sentenced to 10 Years in Prison for Stealing Over $38 Million in County Funds [DOJ]
• “One of the dumbest…crimes in Arizona state history” [KGUN]

Email us at [email protected]

When Johnathan Walton learned that his best friend had conned him out of nearly $100,000, his first instinct was a little unusual—he told anyone who would listen about what happened. The story that ensued consumed his life for several years, ultimately sending his career in unexpected directions, with a hit podcast, assisting other victims with their frauds, and now, his new book, Anatomy of a Con Artist.

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• (00:00) - Introduction and Podcast Overview

In less than 10 minutes, you can earn NASBA-approved accounting CPE after listening to this episode. Download our mobile app, sign up, and look for the Oh My Fraud channel. Register for the course, complete a short quiz, and get your CPE certificate.

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LinkedIn: https://www.linkedin.com/in/calebnewquist/

Sources:

Queen of the Con [Spotify]

Queen of the Con [Instagram]

johnathanwalton.com

Email us at [email protected]

Caleb knew that if he could get Becca Platsky, the co-host of the Corporate Gossip Podcast, to come on Oh My Fraud, that they would have a lot to talk about. Becca and Caleb learn that they are kindred spirits, discussing their experiences not only as scorned CPAs, but as earnest gossip merchants. 

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• (00:00) - Introduction and CPE

In less than 10 minutes, you can earn NASBA-approved accounting CPE after listening to this episode. Download our mobile app, sign up, and look for the Oh My Fraud channel. Register for the course, complete a short quiz, and get your CPE certificate.

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CONNECT WITH BECCA
LinkedIn: https://www.linkedin.com/in/rebeccaplatsky

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LinkedIn: https://www.linkedin.com/in/calebnewquist/

Check out Corporate Gossip Pod

• Corporate Gossip Podcast
• Facebook Part 1: Sheryl Sandberg & the Curse of the BOB
• Facebook Part 2: Mark Zuckerberg & The Curse of the Baby Bangs

Email us at [email protected]

Carlos Watson, a charismatic, fast-rising media figure, strives to build a new kind of digital media company.

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• (00:00) - The Ozy Media Controversy Begins

In less than 10 minutes, you can earn 1 hour of NASBA-approved accounting CPE after listening to this episode. Download our mobile app, sign up, and look for the Oh My Fraud channel. Register for the course, complete a short quiz, and get your CPE certificate.

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Sources:

• From kindergarten delinquent to star [The Hill]
• From Silicon Valley to CNN [Stanford Lawyer via Wayback Machine]
• Get to know Carlos Watson [Blast Magazine via Wayback Machine]
• Ozymandias [Wikipedia]
• About Ozy [via Wayback Machine]
• WGBH to debut ‘Point Taken,’ a new late-night debate TV show taped in Boston [Boston.com]
• A Bunch Of Digital Publishers Bought Cheap Traffic And Later Found Out It Was Fraudulent [BuzzFeed News]
• Exclusive: OZY hits profitability on $50 million in revenue [Axios]
• Goldman Sachs, Ozy Media and a $40 Million Conference Call Gone Wrong [NYT]
• Ozy’s board starts an investigation after a Times report raises questions about the company. [NYT]
• Ozy Built a TV Show on a False Claim, Says Its Former Producer [NYT]
• Ozy Media’s chairman resigns as company faces questions. [NYT]
• Sharon Osbourne says Ozy Media founder Carlos Watson lied when he claimed the Osbournes invested in his company [CNBC]
• Ozy says it’s great at discovering big names before the mainstream media. But is it? [Nieman Lab]
• How Ozy Media, a startup with $70 million in funding and a star-studded list of investors, collapsed in 6 days [Fortune]
• How Ozy fell [Axios]
• 18-hour days and panic attacks: Former Ozy staffers allege an abusive environment [CNN]
• Ozy Media CEO claims his scandal-ridden company will reopen, but doesn’t explain how [CNBC]
• Ozy Media’s Watson on path forward: We’re going to have to change substantially [CNBC]
• Ozy Media CEO Carlos Watson: 'This Is Our Lazarus Moment' [Today via YouTube]
• After Ozy’s Carlos Watson Talks of a Comeback, a Key Investor Objects [NYT]
• Let Me Tell You What It Was Like to Work at Ozy [NYT]
• Ozy Media Is A Monumental Bummer [Defector]
• Ozy Media Faces Federal Investigations [NYT]
• Carlos Watson Has a Cold [Puck]
• Latest NewsOzy Media CEO Carlos Watson Says a Fun Redesign Is on the Horizon [Tech Bullion via Wayback]
• Article About the New, ‘Ethical’ Ozy Media Appears to Have Been Written by a Fake Journalist [Vice]
• Media company Ozy is attempting a comeback [Semafor]
• Ozy Media and Its Founder Carlos Watson Indicted in a Years-Long Multi-Million Dollar Fraud Scheme [DOJ]
• SEC Charges Ozy Media and its CEO Carlos Watson with Widespread Scheme to Defraud Investors [SEC]
• U.S. v. Carlos Watson, Ozy Media, Inc. [Indictment]
• Ozy Statement, March 1, 2023 [X/Twitter]
• Ozy Media Shuts Down After Founder Carlos W...

Omri Mor’s experience with technology and startups began early, being a kid and hanging out at Microsoft Israel where both his parents worked. Omri tells Caleb about his journey of growing up in Tel Aviv, working at his first startup when he was 18 to the conversation over hummus he had that led to the creation of Routable.

Learn More About Routable
https://www.routable.com/
 
Connect with Omri
https://www.linkedin.com/in/omrimor

HOW TO EARN FREE CPE

In less than 10 minutes, you can earn 1 hour of NASBA-approved accounting CPE after listening to this episode. Download our mobile app, sign up, and look for the Oh My Fraud channel. Register for the course, complete a short quiz, and get your CPE certificate.

https://www.earmark.app/

Download the app:

Apple: https://apps.apple.com/us/app/earmark-cpe/id1562599728
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Email us at [email protected]