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Corporate Con-Artist Targets Small Firms

Article Posted On - June 9, 2011

 

In the pantheon of American financial fraud, Lowell “Bob” Hancher will probably not join Charles Ponzi and Bernie Madoff as men whose names are synonymous with criminal avarice. Hancher’s alleged frauds only managed to siphon off a few million dollars from unsuspecting companies and investors over the past few years.

But the saga of Bob Hancher, a 57-year-old Indiana businessman and former co-owner of Indy and NASCAR racing teams, highlights just how vulnerable professional investors and corporations continue to be to fraud from purportedly respected members of the business community. And how important it is to conduct thorough due diligence prior to every deal.

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