It's Easy To Steal Identities (Of Corporations) 140
jfruh writes "Two lawyers in Houston were able to exploit business filing systems to seize control of dormant publicly traded corporations — and then profit by pushing their worthless stock. In many states, anyone can change important information about a publicly registered company — including the corporate officers or company contact information — without any confirmation that they have anything to do with the company in the first place. Massachusetts requires a password to do this through the state registry's website, but they'll give you the password if you call and ask for it. Long focused on individual ID theft, state governments are finally beginning to realize that corporate ID theft is a huge problem as well."
Re:Wouldn't that just be corporate fraud? (Score:2, Informative)
Corporate Fraud? Deceptive conduct? Could the lawyers get disbarred?
Fraudulently taking control of a dormant corporation and defrauding investors is not corporate fraud. It's business ethics (which is different from business intelligence). Get your oxymorons straight... "corporate fraud" isn't even an oxymoron!