Financial Fraud

Financial Fraud: NANDU THONDAVADI – CEO of Schaumburg-based Quadrant 4 System Corp.- Charged with One Count of Willfully Certifying False Financial Reports

November 30, 2016 FraudsWatch 0

CEO of Schaumburg Consulting Firm Arrested on Fraud Charges for Misrepresenting Company’s Financial Condition CHICAGO — The chief executive of a publicly-traded consulting firm has been charged in federal court with fraudulently misrepresenting the company’s […] Read More

Insurance Fraud: Cristopher Santiago Sanchez-Becerra Sentenced for Staging Car Accidents in a Scheme to Defraud Insurance Companies

November 29, 2016 FraudsWatch 0

Stockton Man Sentenced to 21 Months in Prison for Staging Car Accidents in a Scheme to Defraud Insurance Companies FRESNO, Calif. — Cristopher Santiago Sanchez-Becerra, 32, of Stockton, was sentenced today to 21 months in […] Read More

Claims Act Scam: Bechtel National Inc., Bechtel Corp., URS Corp. and URS Energy, Have Agreed to Pay $125 Million to Resolve Allegations Under the False Claims Act

November 24, 2016 FraudsWatch 0

The United States Settles Lawsuit Against Energy Department Contractors for Knowingly Mischarging Costs on Contract at Nuclear Waste Treatment Plant The Justice Department announced today that Bechtel National Inc., Bechtel Corp., URS Corp. (predecessor in […] Read More

Financial Fraud: Owners Of PLCMGMT LLC dba Prometheus Pleaded Guilty to Defrauding Investors of Multi-Million Dollar Securities Fraud

November 23, 2016 FraudsWatch 0

Founder of Litigation Marketing Company Guilty of Multi-Million Dollar Securities Fraud Assistant U.S. Attorneys Aaron P. Arnzen (619) 546-8384 and SAN DIEGO – David Aldrich pleaded guilty in federal court today to defrauding investors through […] Read More

Financial Fraud: Jason H. Wild And Lt. Col. Michael K. Strom Convicted Convicted For Wire Fraud Conspiracy and False Claims

November 23, 2016 FraudsWatch 0

Former Major and Lt. Col. Convicted of Four-Year Fraud Against the Marine Corps Assistant U.S. Attorneys Nicholas W. Pilchak (619) 546-9709 and C. Seth Askins (619) 546-6692 SAN DIEGO – A former major in the […] Read More

Financial Fraud: Patricia Webb of Lee’s Summit Pleaded Guilty to Three Counts of Wire Fraud and One Count of Aggravated Identity Theft

November 22, 2016 FraudsWatch 0

Lee’s Summit Woman Pleads Guilty to $1.5 Million Embezzlement Schemes, Identity Theft KANSAS CITY, Mo. – Tammy Dickinson, United States Attorney for the Western District of Missouri, announced that a Lee’s Summit, Mo., woman pleaded […] Read More

Financial Fraud: Two Individuals Sentenced for Stealing Their Deceased Parent’s Government Benefits

November 22, 2016 FraudsWatch 0

Two Georgia Men Sentenced for Stealing Government Benefits ATLANTA – John W. Jackson, Jr., and Corry Sandlin, have been sentenced in federal district court for stealing their deceased parent’s government benefits. Each defendant lied to […] Read More

Financial Fraud: Ambulai R. Sheku Pleaded Guilty Theft, Computer Fraud Charges

November 22, 2016 FraudsWatch 0

Former DLT Worker Pleads Guilty to Theft, Computer Fraud Charges PROVIDENCE, R.I. – Ambulai R. Sheku, 37, of Providence, a former Senior Employment Interviewer with the Rhode Island Department of Labor and Training (DLT), pleaded […] Read More

Mortgage Scam: Ally Financial Inc. Agreed To Pay For 10 Subprime Residential Mortgage-Backed Securities (RMBS)

November 22, 2016 FraudsWatch 0

Ally Financial Agrees to Pay $52 Million to Resolve Investigation into Improper Conduct Related to Issuance of Mortgage-Backed Securities LOS ANGELES – Ally Financial Inc. has agreed to pay the United States $52 million to […] Read More

Loan Fraud: Jeffrey Spanier – Owner of Amerifund Capital Finance, LLC – Convicted For Elaborate Stock-Loan Fraud Scheme

November 22, 2016 FraudsWatch 0

Owner of Stock Lending Firm Convicted by Jury in $100 Million Stock-Loan Fraud Scheme For Further Information, Contact: Assistant U.S. Attorney Joseph J.M. Orabona (619)546-7951or Assistant U.S. Attorney Michael G. Wheat (619) 546-8437SAN DIEGO – […] Read More

Financial Fraud: John Vartanian Sentenced In Connection With a Fraudulent Debt Relief Firm

November 21, 2016 FraudsWatch 0

Salesman Sentenced in Scheme to Defraud Consumers Through Debt Relief Firms A Newport Beach, California, man was sentenced today in connection with a fraudulent debt relief firm, the Justice Department and U.S. Postal Inspection Service […] Read More

Financial Fraud: For Individuals Convicted For Conspiracies to Commit Wire Fraud and Money Laundering

November 21, 2016 FraudsWatch 0

Four Conspirators Convicted for Defrauding Victims of Millions of Dollars Members of the Conspiracy Formed Online Romantic Relationships to Entice Victims To Provide Money Greenbelt, Maryland – A federal jury convicted the following defendants late […] Read More

Financial Fraud: Sandra Stevenson Marks Sentenced on Charges That She Committed Mail Fraud and Laundered Money

November 21, 2016 FraudsWatch 0

The former owner of a fortune-teller business Sentenced on Mail Fraud, Money Laundering In A Separate Hearing, Donnie Marks Pleads Guilty to Same Charges, Both Agree Repay Victims at Least $1.2 Million to CHARLOTTESVILLE, VIRGINIA […] Read More

Financial Fraud: Stanley Jonathan Fortenberry Pleaded Guilty To Fraud Two Investment Companies

November 19, 2016 FraudsWatch 0

Texas Man Pleads Guilty to Running Fraudulent Investment Companies and Obstructing Securities and Exchange Commission Investigation A San Angelo, Texas, man pleaded guilty today to fraud and obstruction of justice charges in connection with two […] Read More

Financial Fraud: MAURICE SESSUM, JIMMY STOKES And TACOBY THOMAS Sentenced For Million Fraudulent Debt Collection Scheme

November 19, 2016 FraudsWatch 0

Chief Financial Officer And Manager Plead Guilty And Another Manager Sentenced In $31 Million Fraudulent Debt Collection Scheme All 14 Defendants Have Now Pled Guilty in Largest Debt Collection Scheme Ever Prosecuted Preet Bharara, the […] Read More

Financial Fraud: Shawn Hilliard Sentenced For His Role As a Ringleader Of a Nationwide Bank Fraud Organization

November 18, 2016 FraudsWatch 0

Ringleader Of Bank Fraud Organization Sentenced To 12 Years In Prison PHILADELPHIA – Shawn Hilliard, 30, of the Bronx, New York, was sentenced today to 12 years in prison for his role as a ringleader […] Read More

Loan Fraud Scheme: TIMOTHY G. FISHER -President of First Farmers Financial LLC – Guilty Of Million Sham Loan Scheme

November 18, 2016 FraudsWatch 0

President of Florida-Based Financial Firm Guilty of Money Laundering in $179 Million Sham Loan Scheme CHICAGO — The president of a Florida-based financial firm has pleaded guilty to a money laundering charge in connection with […] Read More

Healthcare Fraud: Andres Alfonso Convicted of Three Substantive Counts of Health Care Fraud

November 18, 2016 FraudsWatch 0

Former Owner of Miami Based Pharmacy Convicted at Trial of $700,000 Medicare Fraud Scheme The former owner of a Miami based retail pharmacy was convicted, following a three-day trial, for his participation in a scheme […] Read More

Fraud News From World

Tax Fraud: Paul and Freida Bouraxis Sentenced For Federal Tax Offenses

November 18, 2016 FraudsWatch 0

Franklin Family Sentenced in Tax Conspiracy United States Attorney Gregory J. Haanstad announced that Paul Bouraxis (age 67), his wife, Freida Bouraxis (age 61), son, Andreas Bouraxis (age 40), and son-in-law, Reiad “Ray” Awadallah (age […] Read More

Tax Fraud: Robert Warren Scully Sentenced For Tax and Wire Fraud Scheme

November 18, 2016 FraudsWatch 0

San Antonio Businessman Sentenced to Prison for Estimated $5.3 Million Tax And Wire Fraud Scheme A federal judge this morning sentenced a former owner of San Antonio-based Gourmet Express, LLC, a skillet meals manufacturing and […] Read More