Free Republic

<p>The story is all too familiar. Several months ago, before WorldCom and in the wake of Enron and Global Crossing, Peregrine Systems, Inc., a lesser-known San Diego-based software company, announced it had overstated its earnings by $100 million — while "independent" accounting firm Arthur Andersen was overseeing the books. Another corporation, another lie, and another investigation by the Securities and Exchange Commission and the Justice Department.</p>

Claim filed on Cunningham house          U.S. lawsuit seeks forfeiture of property By Dani Dodge UNION-TRIBUNE STAFF WRITER August 18, 2005 Randy "Duke" Cunningham's Rancho Santa Fe home was listed for $3.5 million. Embattled MZM sold to investment group The U.S. Attorney's Office has filed a secret lawsuit against Rep. Randy "Duke" Cunningham that contends he should forfeit his Rancho Santa Fe home to the government because it was purchased with illegally obtained money. Notice of the lawsuit and the government's interest in the property was filed with the San Diego County Recorder's Office. Cunningham's attorney, Lee Blalack, declined to...

Stephen Gardner, former chief executive of Peregrine Systems, was sentenced today (Dec. 11) to eight years and one month for his role in the fraud. Gardner's lawyer, Reid Figel, said that Peregrine was engaged in criminal activity before Gardner arrived in 1997When he came to Peregrine, this type of activity was the practice," said Figel. "It was the way they did business." Gardner made $8.2 million dumping Peregrine stock. The company's former chairman, John Moores, who was with Peregrine almost from the beginning, dumped nearly $500 million of stock during the fraud period, and $650 million worth, almost all he...