Financial Fraud

Survey Note: Detailed Analysis of Murex Management’s Financial Fraud Case

July 13, 2025 FraudsWatch 0

Introduction and Background This survey note provides a comprehensive analysis of the recent guilty plea by Murex Management, Inc. (MMI), a Plano, Texas-based company, on June 10, 2025, for aiding and abetting financial fraud. The […] Read More

Image depicting the New York State Capitol with a crack, symbolizing government corruption in the Linda Sun and Chris Hu PPE procurement fraud case involving millions in kickbacks.

Anatomy of a Scandal: How a NY Governor’s Aide Allegedly Masterminded an $8M COVID PPE Fraud and Kickback Scheme

June 28, 2025 FraudsWatch 0

The Pandemic, The Panic, and The Alleged Profiteers In the chilling early days of March 2020, New York State was not merely a part of a global health crisis; it was the global epicenter. The […] Read More

A metaphorical image depicting financial fraud. In the foreground, a hand signs a contract, but the signature dissolves into smoke, representing a fraudulent agreement. In the background, a shadowy, out-of-focus figure of a man in a suit symbolizes the anonymous fraudster. The backdrop features distorted and declining financial charts, illustrating the devastating losses from investment scams. The overall tone is serious and cautionary, with a muted color palette of grays and blues, highlighted with a touch of red to signify danger.

The Rubicon Deception: How Trusted Advisor Scott Mason Stole $25 Million and What Every Investor Must Learn from the Betrayal

June 26, 2025 FraudsWatch 0

An exhaustive analysis of the Scott Mason and Rubicon Wealth Management fraud. Learn how he deceived clients for over a decade, the red flags that were missed, and the essential steps you must take to […] Read More

A magnifying glass focusing on a financial ledger, illustrating the importance of internal controls and vigilant oversight for preventing employee wire fraud in small businesses.

Greer Bookkeeper Jailed for $2.2M Wire Fraud: A Small Business Owner’s Guide to Detecting Embezzlement and Preventing Financial Ruin

June 23, 2025 FraudsWatch 0

In a case that serves as a chilling reminder for small business owners everywhere, Jennifer L. Bengston Cook, a 56-year-old part-time bookkeeper from Greer, South Carolina, was sentenced to three years in federal prison. For […] Read More

Symbolic image of a gavel and money representing the federal embezzlement case in Las Vegas involving former Silver State Health Services CEO David Ryan Linden and Rich Kiran Saga.

Former Las Vegas Health CEO David Ryan Linden Accused in Alleged $2 Million Federal Grant Embezzlement Scheme; Real Estate Investor Rich Kiran Saga Also Charged

June 1, 2025 FraudsWatch 0

Superseding Indictment Alleges Sophisticated Conspiracy to Defraud Federally Qualified Health Center Serving Las Vegas’ Indigent Population; Funds Allegedly Diverted to Commercial Real Estate Ventures. LAS VEGAS, NV – [Friday, May 30, 2025] – The former […] Read More

Illustrative image of uncut diamonds with background elements symbolizing wire fraud and legal documents, representing the Edward Carlos St. Mary III diamond fraud case.

Edward Carlos St. Mary III Indicted in Alleged Multi-Million Dollar Wire Fraud Scheme Targeting International Diamond Market

May 21, 2025 FraudsWatch 0

NEW YORK, NY – October 26, 2023 – A significant federal indictment was unsealed today by the U.S. Attorney’s Office for the Southern District of New York, charging prominent international businessman Edward Carlos St. Mary […] Read More

Image depicting the extradition of Liridon Masurica and the disruption of BlackDB.cc.

The Extradition of Liridon Masurica and the Disruption of the BlackDB.cc Criminal Marketplace: A Case Study in International Cybercrime Enforcement

May 13, 2025 FraudsWatch 0

I. Executive Summary This report details the extradition of Liridon Masurica, allegedly known as “@blackdb,” from Kosovo to the United States to face federal charges related to his purported role as the lead administrator of […] Read More

Illustration depicting fraudulent Paycheck Protection Program applications with shadowy figures stealing money, symbolizing the widespread PPP loan fraud and misuse of CARES Act funds intended for small business relief.

Connecticut Accountant Admits to $2.3M PPP Fraud: Inside the Schemes That Exploited COVID Relief

May 13, 2025 FraudsWatch 0

BRIDGEPORT, CT – The guilty plea of Yasir G. Hamed, a 60-year-old accountant from Woodbridge, Connecticut, on May 9, 2025, for defrauding the Paycheck Protection Program (PPP) of over $2.3 million, casts a stark light […] Read More

GPB Capital executives in handcuffs after $1.6 billion fraud sentencing.

GPB Capital Executives Jailed: Unraveling a $1.6 Billion Web of Lies and Investor Deception

May 10, 2025 FraudsWatch 0

Brooklyn, NY – The architects of a sprawling $1.6 billion fraud that victimized over 10,000 investors faced their day of reckoning as David Gentile, the founder and former Chief Executive Officer (CEO) of GPB Capital, […] Read More

Shattered digital heart symbolizing emotional and financial devastation from online romance scam.

Kingsley Ibhadore Jailed: Unmasking the Deceptive Triangle of Romance Scams, Money Mules, and Financial Structuring

May 8, 2025 FraudsWatch 0

Introduction: The Human Cost of a Calculated Deception – The Kingsley Ibhadore Case The fight against sophisticated financial fraud claimed a small victory on May 5, 2025, when Kingsley Sebastian Ibhadore, a 40-year-old Nigerian citizen […] Read More

Illustration showing an unstable pyramid of cash, symbolizing the William Lamar Rhew III Ponzi scheme collapse.

The Case of William Lamar Rhew III: A Legal Analysis of a Multimillion-Dollar Ponzi Scheme and Financial Fraud

May 7, 2025 FraudsWatch 0

Executive Summary This report provides a comprehensive analysis of the criminal enterprise orchestrated by William Lamar Rhew, III, culminating in his guilty plea on May 6, 2025, to charges of wire fraud, money laundering, securities […] Read More

Image depicting federal court proceedings related to the $9.1 million VA Post-9/11 GI Bill education benefits fraud scheme in Honolulu involving Brian Matsudo, Marshall Scott, and Raheem Wells.

$9.1M GI Bill Fraud: Honolulu School Owner Pleads Guilty in Scheme Exploiting Veteran Education Benefits; Two Others Face Charges

May 3, 2025 FraudsWatch 0

HONOLULU, HI – The owner of a Honolulu massage therapy school has pleaded guilty to federal charges, admitting his role in a complex scheme that defrauded the U.S. Department of Veterans Affairs (VA) of over […] Read More

Gavel hitting a block labeled 'PPP Fraud Settlement,' illustrating the False Claims Act resolution involving Slifco Electric and COVID-19 relief funds.

Slifco Electric Pays $1.46M to Settle PPP Fraud Allegations Over Undisclosed Owner Payouts, False Certifications

April 28, 2025 FraudsWatch 0

DETROIT, MI – A Sterling Heights, Michigan electrical contracting firm, Slifco Electric, LLC, and its sole owner, John P. Slifco, have agreed to pay $1,460,062 to the United States government to resolve allegations of violating […] Read More

Gavel rests on US currency symbolizing guilty plea in Thomas G. Ehr defense contractor tax fraud conspiracy case.

Longtime Defense Contractor Associate Thomas G. Ehr Pleads Guilty in $128 Million Tax Fraud Conspiracy Linked to Afghanistan Jet Fuel Contracts; Sixth Defendant Convicted in Major International Investigation

April 23, 2025 FraudsWatch 0

Introduction: Unveiling a Decade-Long Deception Affecting U.S. Treasury and Defense Operations WASHINGTON – A complex and long-running scheme designed to defraud the United States government culminated in a significant development as Thomas G. Ehr, 63, […] Read More

Alex Murdaugh and Russell Laffitte in court.

Former Banker Russell Laffitte Pleads Guilty to Multiple Federal Fraud Charges in Murdaugh-Related Case

April 20, 2025 FraudsWatch 0

CHARLESTON, S.C. — — In a significant development in the sprawling financial saga connected to convicted murderer Alex Murdaugh, former Palmetto State Bank (PSB) Chief Executive Officer Russell Lucius Laffitte, 54, of Estill, South Carolina, […] Read More

A courtroom scene with a judge, lawyers, and jurors during a customs duty evasion lawsuit.

Barco Uniforms Hit with Major False Claims Act Lawsuit Over Alleged Customs Duty Evasion Scheme

April 19, 2025 FraudsWatch 0

U.S. Files False Claims Act Lawsuit Against Barco Uniforms, Executives, and Affiliated Companies Alleging Systemic Customs Duty Evasion Scheme SACRAMENTO, Calif. – The United States Department of Justice has initiated significant legal action against Barco […] Read More

A guide to preventing financial fraud, including banking scams, credit card fraud, investment scams, and online phishing attacks.

Comprehensive Financial Fraud Prevention & Detection: A Guide to Protecting Yourself and Your Business

March 16, 2025 FraudsWatch Comments Off

The intentional misrepresentation of information or identity to deceive others for financial gain stands as a pervasive and ever-evolving threat in the contemporary world [1, 2]. This deception can manifest in numerous ways, ranging from […] Read More

Patrick Walsh, convicted of PPP and EIDL loan fraud

Florida Man and 10 Companies Ordered to Pay Over $20 Million for Brazen COVID-19 Relief Fraud

March 12, 2025 FraudsWatch 0

Elaborate Scheme Used Fake Payroll Data to Steal Millions in PPP and EIDL Funds [Date of Publication – e.g., October 26, 2023] – In a stark reminder of the widespread fraud that plagued pandemic-era relief […] Read More

Garantex crypto exchange seized domain notice displayed by law enforcement.

Garantex Crypto Exchange Takedown: $96 Billion Money Laundering Network Dismantled in US-Led International Operation

March 8, 2025 FraudsWatch 0

Global Crypto Crackdown: $96 Billion Exchange Garantex Neutralized in International Law Enforcement Action In a landmark coordinated effort, law enforcement agencies from the United States, Germany, and Finland have successfully dismantled the online infrastructure of […] Read More

Matthew C. Browndorf, a California lawyer, sentenced to prison for wire fraud and money laundering after stealing over $2.4 million from client IOLTA accounts.

California Lawyer Gets 5+ Years in Federal Prison for $2.4 Million Client Fund Theft: A Case of Wire Fraud, Money Laundering, and Luxury Spending

March 7, 2025 FraudsWatch 0

Matthew C. Browndorf, a 54-year-old California lawyer, has been sentenced to more than five years in federal prison for a brazen scheme that saw him siphon over $2.4 million from his clients’ trust accounts. The […] Read More