Copyright © 2025 FraudsWatch.com  All Right Reserved. Privacy Policy | Terms and Conditions

Browsing tag

Financial Fraud

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

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

FraudsWatch 0

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

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

FraudsWatch 0

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

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

FraudsWatch 0

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

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

FraudsWatch 0

Advanced Banking Security: Defend Against Evolving Fraud Tactics

In an increasingly digital world, the threat of banking fraud looms large, constantly evolving to exploit vulnerabilities in our financial systems and personal habits. While banks and financial institutions invest heavily in security measures, the responsibility of safeguarding assets ultimately lies in a shared partnership between institutions and individuals. This article delves deep into the

FraudsWatch 0

Counterfeit Check Prevention in 2025: A Guide to Safeguarding Your Finances

Counterfeit checks remain a persistent threat in the modern financial landscape. As technology advances, so do the methods employed by fraudsters to replicate legitimate checks with deceptive accuracy. In 2025, proactive measures are crucial to protect individuals and businesses from falling victim to this sophisticated form of financial crime. This article will explore key prevention

FraudsWatch 0

Nader Pourhassan And Kazem Kazempour Founds Guilty in Elaborate Scheme to Defraud Investors During HIV and COVID-19 Crises

Former CEO of CytoDyn and Head of Contract Research Organization Face Decades in Prison for Securities Fraud, Wire Fraud, and Insider Trading In a resounding victory for investor protection, a federal jury in Maryland convicted two high-ranking biotechnology executives for their roles in a complex scheme to defraud investors in CytoDyn Inc. Nader Pourhassan, the

FraudsWatch 0

Sean Donnell White Exploits Postal Service and Cryptocurrency Markets in Elaborate Fraud Schemes

Mobile, AL – A 30-year-old man from Theodore, Alabama, Sean Donnell White, has been sentenced to 32 months in federal prison for orchestrating a complex web of fraud that preyed on both traditional mail systems and the digital world of cryptocurrency. White’s criminal activities, spanning from 2020 to 2022, involved two distinct yet interconnected schemes:

FraudsWatch 0

Teresina DeAlmeida Sentenced to Prison for $1.3 Million Fraud Scheme at NJ Graduate School

Newark, NJ – Teresina DeAlmeida, a 59-year-old former assistant dean at a graduate school in Essex County, New Jersey, has been sentenced to 36 months in prison for orchestrating an elaborate fraud scheme that spanned over a decade. DeAlmeida, along with her co-conspirators Rose Martins (her assistant) and Silvia Cardoso (her sister), siphoned over $1.3

FraudsWatch 0