Dubai's Wall Street Exchange Pays $9 Million Fine

Dubai’s Wall Street Exchange Pays $9 Million Fine in U.S. Bank Fraud Case: A Cautionary Tale of AML Compliance Failures

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NEW YORK, NY (January 20, 2025) – In a significant development underscoring the importance of robust anti-money laundering (AML) compliance, Dubai-based money exchange service provider, Wall Street Exchange (WSE), has entered into a non-prosecution agreement (NPA) with U.S. authorities, agreeing to pay over $9 million to settle a bank fraud investigation. The case, announced today […]

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Craig Allen imprisoned for defrauding investors

Atlanta Investment Firm CEO Sentenced to 7 Years for $9 Million Fraud, Cheetah Fund Collapse Leaves Investors Devastated

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ATLANTA, GA – In a stark reminder of the risks lurking within the often-opaque world of private investment, Craig Allen, the founder and executive officer of Atlanta-based C.M. Allen Capital Management, Inc., has been sentenced to seven years and two months in federal prison. Allen’s conviction stems from a sophisticated investment fraud scheme involving a

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Joshua and Nicole Pennington Allegedly Exploited COVID-19 Relief Programs

Joshua and Nicole Pennington Faces Justice: A Deep Dive into Multi-Million Dollar COVID-19 Relief Fraud

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The COVID-19 pandemic brought unprecedented challenges, not just in terms of public health but also in economic stability. To mitigate the financial fallout, the U.S. government implemented several relief programs, including the Economic Injury Disaster Loan (EIDL) and the Paycheck Protection Program (PPP). While these programs were lifelines for many struggling businesses, they also became

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SouthEast Bank Settles

SouthEast Bank Hit with $1.5M Fine for Discriminatory Student Loan Refinancing Practices Against Minorities

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In a significant move towards addressing systemic inequalities in the financial sector, the Justice Department has announced a landmark settlement with SouthEast Bank. The Tennessee-based institution has agreed to pay $1.5 million to resolve allegations of engaging in discriminatory lending practices. The bank’s policies disproportionately denied Black and American Indian/Alaska Native (AI/AN) graduates the opportunity

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Scott Mason Charged

Scott Mason Charged in $17 Million Fraud Scheme Targeting Friends and Family: Lavish Lifestyle Funded by Decades of Deceit

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Philadelphia, PA – A prominent Pennsylvania investment advisor, Scott Mason, 66, of Gladwyne, faces a litany of federal charges including wire fraud, securities fraud, investment advisor fraud, and filing false tax returns, after allegedly orchestrating a sophisticated scheme that defrauded clients out of more than $17 million. United States Attorney Jacqueline C. Romero announced the

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TikTok Ban from US

Supreme Court Upholds Law Forcing TikTok Sale: National Security Concerns Trump Free Speech Arguments, Says DOJ

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WASHINGTON, D.C. – The United States Supreme Court has delivered a landmark decision in the closely watched case of TikTok, et al. v. Garland, upholding a recently passed law that compels the Chinese-owned social media giant TikTok to either divest from its parent company, ByteDance, or face a ban in the United States. The ruling,

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American Express

American Express Settles for Over $138 Million After Misleading Customers with False Tax Advice on Wire Products: A Deep Dive into the Scandal

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NEW YORK – In a significant blow to its reputation and finances, American Express Company (AMEX) has agreed to a hefty settlement exceeding $138 million after admitting to deceptive sales practices involving two of its wire transfer products, Payroll Rewards and Premium Wire (PR/PW). The settlement, announced by Judy Philips, Acting United States Attorney for

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Fayat S.A.S. Hit with $11 Million Fine

Fayat S.A.S. Hit with $11 Million Fine for Massive Clean Air Act Violations, EPA and DOJ Crack Down on Illegal Diesel Engine Imports

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WASHINGTON, D.C. – In a decisive move underscoring the U.S. government’s commitment to enforcing environmental regulations, the Department of Justice (DOJ) and the Environmental Protection Agency (EPA) have announced a landmark settlement agreement with French industrial conglomerate Fayat S.A.S. and nine of its subsidiaries. The agreement, which includes a hefty $11 million civil penalty and

Fayat S.A.S. Hit with $11 Million Fine for Massive Clean Air Act Violations, EPA and DOJ Crack Down on Illegal Diesel Engine Imports Read More »

American Express Settles

American Express Settles for $108.7 Million: A Deep Dive into Deceptive Practices and What It Means for Small Businesses

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American Express, a titan in the financial industry, recently found itself in hot water after the United States Department of Justice (DOJ) levied a hefty $108.7 million civil penalty against the company. This significant settlement stems from allegations of deceptive marketing practices, falsified information, and violations of the Financial Institutions Reform, Recovery and Enforcement Act

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vulnerability of elderly individuals

Elderly Authors Bilked Out of $44 Million in “Blockbuster Book Deal” Scam

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San Diego, CA – In a shocking case of fraud, a federal grand jury has indicted three individuals for allegedly swindling over 800 elderly authors out of more than $44 million. The scam, orchestrated through a company called PageTurner, Press and Media LLC, preyed on the aspirations of writers by falsely promising lucrative publishing deals

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