Financial Fraud

Financial Fraud: Mark J. Schultz Pleaded Guilty For Wire Fraud and Mail Fraud Conspiracy

February 11, 2017 FraudsWatch 0

Leawood Attorney Pleads Guilty to Fraud Conspiracy Law Partner Sentenced for $1.2 Million Fraud Scheme KANSAS CITY, Mo. – Tammy Dickinson, United States Attorney for the Western District of Missouri, announced that a Leawood, Kan., […] Read More

Financial Fraud: Dan Horsky Sentenced To Defraud IRS And Hiding Money In Offshore Banks

February 10, 2017 FraudsWatch 0

Former Business Professor Sentenced to Prison for Hiding over $220 Million in Offshore Banks ALEXANDRIA, Va. – Dan Horsky, 71, formerly of Rochester, New York, who amassed a $220 million fortune in secret foreign accounts, […] Read More

Financial Fraud: Group Of Individuals Sentenced For Their Roles In a Penny-Stock Fraud

January 31, 2017 FraudsWatch 0

Eight people sentenced to prison for penny-stock fraud that resulted in $39 million loss to investors Eight people were sentenced to prison this month for their roles in a penny-stock fraud that resulted in a […] Read More

Financial Fraud: Wen Ping Chen, Kewang Lin and Shao Qing Chen Sentenced For Credit Card Scam

January 31, 2017 FraudsWatch 0

Three New Yorkers Sentenced For Credit Card Scam The United States Attorney for the District of Vermont announced that three residents of Brooklyn, New York were recently sentenced in United States District Court in Brattleboro […] Read More

Financial Fraud: Cyril Gordon Lunn Pleaded Guilty to Concealing Assets From His Bankruptcy Creditors And Making a False Statement

January 31, 2017 FraudsWatch 0

Former Pepperell Man Who Fled to Canada on Snowmobile Pleads Guilty to Bankruptcy Fraud BOSTON – A former Pepperell man pleaded guilty today in U.S. District Court in Worcester in connection with concealing $3–$4 million […] Read More

Financial Fraud: STEVEN SIMMONS and JOSEPH MELI Charged on Conspiracy, Securities Fraud, Wire Fraud, And Scheme to Defraud Investors

January 28, 2017 FraudsWatch 0

Two Individuals Arrested And Charged In Manhattan Federal Court With Securities And Wire Fraud For Participating In A Multimillion-Dollar Ponzi Scheme Steven Simmons and Joseph Meli Charged with Defrauding Investors and Diverting Fraudulent Proceeds For […] Read More

Financial Fraud: Jason Laut Charged For Wire Fraud, False Statements And Two Counts of Identity Theft

January 24, 2017 FraudsWatch 0

Former Paramedic Charged in 37-Count Indictment With Wire Fraud, Making False Statements and Identity Theft Regarding the Theft of Controlled Substances Donald S. Boyce, United States Attorney for the Southern District of Illinois, announced the […] Read More

Financial Fraud: Hasan Hussain and Ricardo Abreu Charged in a Conspiracy to Defraud Financial Institutions & Mortgage Fraud

January 24, 2017 FraudsWatch 0

Two Indicted in Sweeping Mortgage Fraud Investigations PROVIDENCE, R.I. – A 14-count federal indictment filed in U.S. District Court in Providence charges two individuals, Hasan Hussain, 55, of Princeton, N.J., and Ricardo Abreu, 50, of […] Read More

Financial Fraud: Raymond E. Gallison, Jr Plead Guilty to Federal Mail Fraud, Wire Fraud, Aggravated Identity Theft and Tax Charges

January 23, 2017 FraudsWatch 0

Fmr. RI House Finance Chairman to Plead Guilty to Fraud, Aggravated Identity Theft, Tax Charges PROVIDENCE – According to signed documents filed in U.S. District Court in Providence today, Raymond E. Gallison, Jr., 64, of […] Read More

Mortgage Fraud: Société Générale, S.A. Will Pay Civil Penalty to Resolve Claims Related to Its Activities

January 20, 2017 FraudsWatch 0

Société Générale Agrees To Pay $50 Million Penalty To Settle RMBS Fraud Claims United States Attorney Robert L. Capers announced today that Société Générale, S.A. will pay a $50 million civil penalty to resolve claims […] Read More

Financial Fraud: ENRICO RUBANO And SHIVANAND MAHARAJ Charged to Commit Wire Fraud in Connection With a False Invoicing Scheme

January 19, 2017 FraudsWatch 0

Information Technology Chief And Consultant Charged With Multimillion-Dollar False Invoicing Scheme Preet Bharara, the United States Attorney for the Southern District of New York, and Philip R. Bartlett, Inspector-in-Charge of the New York Office of […] Read More

Financial Fraud: Western Union Admits to Criminal Violations Including Willfully Failing to Maintain an Effective Anti-Money Laundering

January 19, 2017 FraudsWatch 0

Western Union Admits Anti-Money Laundering and Consumer Fraud Violations, Forfeits $586 Million in Settlement with Justice Department and Federal Trade Commission Company also Agrees to Implement Anti-Fraud Program and Enhanced Compliance Obligations in Agreements with […] Read More

Financial Fraud: Credit Suisse Made False and Irresponsible Representations About Residential Mortgage-Backed Securities

January 18, 2017 FraudsWatch 0

Credit Suisse Agrees to Pay $5.28 Billion in Connection with its Sale of Residential Mortgage-Backed Securities The Justice Department announced today a $5.28 billion settlement with Credit Suisse related to Credit Suisse’s conduct in the […] Read More

Financial Fraud: John Edward Taylor Charged With One Count of Wire Fraud, Bank Fraud and Aggravated Identity Theft

January 4, 2017 FraudsWatch 0

Alleged Confidence Man Charged With Luring Victims Through Matchmaking And Networking Sites To Commit Fraud And Identity Theft John Edward Taylor Allegedly Masqueraded as a Millionaire and Businessman to Romance Victims, Steal Their Identifying Information, […] Read More

Financial Fraud: George N. Krinos Charged In a Two-Count Criminal Information With Engaging in a Securities Fraud Scheme

January 3, 2017 FraudsWatch 0

Boardman man charged with defrauding investors out of $1.2 million A Boardman man was charged in federal court with defrauding investors out of nearly $1.2 million and related tax violations, said Carole S. Rendon, U.S. […] Read More

Financial Fraud: Sergey Kapustin Charged With One Count of Wire Fraud and Conspiring to Commit Wire Fraud

December 29, 2016 FraudsWatch 0

Auto Dealer Arrested In $2 Million Fraud On Russian Citizens NEWARK, N.J. – A New Jersey auto dealer was charged today for allegedly defrauding more than 140 Russian citizens who were customers of his auto […] Read More

Swiss Bank Tax: Final Resolutions Of Department of Justice And Swiss Bank Program

December 29, 2016 FraudsWatch 0

Justice Department Reaches Final Resolutions Under Swiss Bank Program Information Received Continues to Drive Civil and Criminal Enforcement Efforts The Department of Justice announced today that it has reached final resolutions with banks that have […] Read More

Financial Fraud: United Shore Financial Services LLC (USFS) Pay For Alleged False Claims Act Liability Arising From Fha-Insured Mortgage Lending

December 29, 2016 FraudsWatch 0

United Shore Financial Services LLC Agrees To Pay $48 Million To Resolve Alleged False Claims Act Liability Arising From Fha-Insured Mortgage Lending WASHINGTON – United Shore Financial Services LLC (USFS) has agreed to pay the […] Read More

Financial Fraud: Richard Shusterman Sentenced For Co-Conspirators Perpetrated a Brazen And Complex Ponzi Scheme That Defrauded Investors

December 23, 2016 FraudsWatch 0

Leader of $242 Million Investment Fraud Scheme Sentenced to 18 Years in Federal Prison Ponzi Scheme Involved Sale of Medical Debts Baltimore, Maryland – U.S. District Judge James K. Bredar sentenced Richard Shusterman, age 53, […] Read More

Financial Fraud: Umair Hamid Charged with Wire Fraud, Aggravated Identity Theft, and Worldwide “Diploma Mill” Scheme

December 22, 2016 FraudsWatch 0

Manhattan U.S. Attorney Charges Executive Of Axact In $140 Million Diploma Mill Scam Preet Bharara, the United States Attorney for the Southern District of New York, Philip R. Bartlett, Inspector-in-Charge of the New York Office […] Read More