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Former CEO of Arthrocare Corporation Convicted for Orchestrating $750 Million Securities Fraud Scheme A federal jury today convicted the former chief executive officer of ArthroCare Corporation, a publicly traded medical device company based in Austin, Texas, for his role in orchestrating a fraud scheme that resulted in shareholder losses of over $750 million. Acting Assistant […]
Former Assistant Chief of Staff of the U.S. Navy’s Seventh Fleet Charged in Massive Navy Corruption Scandal; Pleads Guilty to Bribery Conspiracy Assistant U.S. Attorneys Mark W. Pletcher (619) 546-9714 and Patrick Hovakimian (619) 546-9718 SAN DIEGO – U.S. Navy Captain Jesus Vasquez Cantu admitted in federal court today that he accepted bribes in the […]
Investment scams prey on your hope to earn interest or a return on investment on the amount of money that you invest. The Securities and Exchange Commission (SEC) offers overviews of many common investment frauds, and tips to avoid being a victim. If you are the victim of an investment fraud, you can file a complaint with the […]
Navy Contractor Admits Accepting Funds from Port Engineer Administering Contracts Involving his Company Assistant U.S. Attorney Phillip L.B. Halpern (619) 546-6964 SAN DIEGO – Alfonso Liburd, the President and Chief Executive Officer of San Diego-based defense contractor NEVWEST, Inc. (“NevWest”), pleaded guilty today to improperly aiding and abetting Navy Port Engineer, John Nasshan (charged elsewhere), […]
Former Lebanon Airport Operator Indicted for $707,000 Fraud Scheme JEFFERSON CITY, Mo. – Tom Larson, Acting United States Attorney for the Western District of Missouri, announced today that the former owner of a fixed base operation at the Lebanon, Mo., airport has been indicted by a federal grand jury for a $707,000 investment fraud scheme. […]
PHH Agrees To Pay $74 Million To Resolve Alleged False Claims Act Liability Arising From Mortgage Lending NEWARK, N.J. – PHH Corp., PHH Mortgage Corp. and PHH Home Loans (PHH) have agreed to pay the United States $74,453,802 to resolve allegations that they violated the False Claims Act by knowingly originating and underwriting mortgage loans […]
Former Cocoa Company Executives Arrested For Defrauding Lenders Of $400 Million Peter G. Johnson, Peter B. Johnson, and Thomas Reich submitted false financial reports to banks to secure and maintain a $400 million credit line to Transmar Commodity Group Ltd. Joon H. Kim, the Acting United States Attorney for the Southern District of New York, […]
Did you commit fraud when you bought car insurance? Americans might agree that auto insurance companies aren’t perfect in regards to deciding how much policyholders should pay in premiums. Most of all of us think our rates should be lower. Yet a study by insurance industry data collector Verisk Stats indicates that – at least […]
Richmond Business Owner Sentenced To Five And A Half Years In Prison For Fraud In Credit Repair Scheme Baltimore, Maryland – Senior U.S. District Judge J. Frederick Motz sentenced Benjamin Bland, age 41, of Richmond, Virginia, to five and a half years in prison, followed by three years of supervised release for conspiracy to commit […]
Longtime Con Man Sentenced to 8 Years in Federal Prison for Role in $3 Million Gold Investment Scheme that Bilked 7 Investors LOS ANGELES – A Beverly Hills man who has a long history of swindling investors and admitted most recently to participating in a scheme involving bogus gold contracts – and giving fake gold […]