FraudsWatch.com
FraudsWatch is а site reporting on fraud and scammers on internet, in financial services and personal. Providing a daily news service publishes articles contributed by experts; is widely reported in thе latest compliance requirements, and offers very broad coverage of thе latest online theft cases, pending investigations and threats of fraud.

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Money Laundering

Money Laundering: Corey Earl Engelen Indictment to Money Laundering

Parker Man Pleads Guilty to Money Laundering in Connection with Stock Trading SchemeDENVER – Corey Earl Engelen, age 47, of Parker, Colorado pled guilty last week before U.S. District Court Judge Christine M. Arguello to money laundering announced Acting United States Attorney Robert C. Troyer and IRS Criminal Investigation Special Agent in Charge Steven Osborne.  Engelen and his co-defendant Michael Todd Osborn were indicted by a federal grand jury in Denver on February 11, 2015.  Engelen is scheduled to be sentenced by…

Financial Fraud: Scott Raymond Beard Sentenced For Theft of Public Funds and Money Laundering

Former Deschutes County Sheriff Captain Sentenced to Five Years in Prison for Theft of Public Funds and Money LaunderingEUGENE, Ore. – On Thursday, September 8, 2016, Scott Raymond Beard, 46, a former Deschutes County Sheriff Captain and resident of Deschutes County, Oregon, was sentenced to five years in prison by U.S. District Judge Michael J. McShane for stealing over $200,000 in public funds he was entrusted to manage. At least sixty-three times over a two-year period, Beard falsified records to steal money designated…

Financial Fraud: Albert Shih-Der Chang Was Arrested For Mail Fraud and Money Laundering Charges

FBI Arrests Dallas Technology Company’s Former Lead Systems Engineer on Mail Fraud and Money Laundering ChargesDALLAS — Albert Shih-Der Chang, a former Lead Systems Engineer for a Dallas technology company known as One Technologies, was arrested at his residence in Fairview, Texas, this morning by special agents with the FBI on an indictment charging federal felony offenses stemming from his approximate $2.4 million theft or embezzlement from the company, announced U.S. Attorney John Parker of the Northern District of…

Michael Danilovich Sentenced For Racketeering, Health Care Fraud, Securities Fraud, Mail Fraud, Wire Fraud, And Money Laundering

Michael Danilovich Sentenced To 25 Years For Racketeering, Health Care Fraud, Securities Fraud, Mail Fraud, Wire Fraud, And Money LaunderingRacketeering Conviction Included Largest No-Fault Insurance Fraud Scheme Ever ChargedPreet Bharara, the United States Attorney for the Southern District of New York, announced that MICHAEL DANILOVICH was sentenced today to 25 years in prison in connection with his conviction for 16 counts of racketeering conspiracy, securities fraud, health care fraud, mail fraud, wire fraud, and…

Gezim Selgjekaj Sentenced for Credit Union Fraud

Avon Lake man sentenced to 25 years in prison for fraud that contributed to the collapse of credit unionAn Avon Lake man was sentenced to 25 years in prison for fraudulently obtaining more than $10.6 million in loan proceeds, bribing the chief operating officer of the credit union to receive those loans, and laundering the proceeds, conduct which contributed to the collapse of the St. Paul Croatian Federal Credit Union, law enforcement officials said.Gezim Selgjekaj, 44, was ordered to pay $16 million in restitution. A…

Bruce Swisshelm Pleaded Guilty to Bank Fraud and Money Laundering

Springfield Area Business Owner, Son Plead Guilty to $5.5 Million Fraud SchemeSPRINGFIELD, MO—Tammy Dickinson, United States Attorney for the Western District of Missouri, announced that the owner of several Springfield, Mo., area restaurants and his son pleaded guilty in federal court today, in two separate but related cases, to their roles in a more than $5.5 million bank fraud scheme.Bruce Swisshelm, 68, of Battlefield, Mo., and his son, Bruce Swisshelm II, 43, of Springfield, pleaded guilty in separate appearances…

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Gregg R. Mulholland – Orchestrator Of More Than 40 Pump And Dump Schemes And Secret Owner Of Offshore Brokerage Firm

Orchestrator Of More Than 40 Pump And Dump Schemes And Secret Owner Of Offshore Brokerage Firm Pleads Guilty To$250 Million Money Laundering Scheme Defendant Used Offshore Shell Companies in Belize and the West Indies to Perpetrate Numerous Schemes, Including the Manipulation of Cynk Technology Corp (CYNK) BROOKLYN, N.Y. – Earlier today, Gregg R. Mulholland, a dual U.S. and Canadian citizen and secret owner of Legacy Global Markets S.A. (Legacy), an offshore broker-dealer and investment management company based in Panama…

Laundering in Connection with Costa Rica-Based Telemarketing Fraud Scheme

Ohio Man Sentenced to 108 Months in Prison for Money Laundering in Connection with Costa Rica-Based Telemarketing Fraud SchemeAn Ohio man was sentenced to 108 months in prison for his role in laundering money for a Costa Rica-based “sweepstakes fraud” scheme that victimized U.S. residents, announced Assistant Attorney General Leslie R. Caldwell of the Justice Department’s Criminal Division and U.S. Attorney Jill Westmoreland Rose of the Western District of North Carolina.Paul R. Toth Jr., 41, of Wintersville,…

Asset Forfeiture – Money Laundering

Asset ForfeitureMany criminals are motivated by greed and the acquisition of material goods. Therefore, the ability of the government to forfeit property connected with criminal activity can be an effective law enforcement tool by reducing the incentive for illegal conduct. Asset forfeiture “takes the profit out of crime” by helping to eliminate the ability of the offender to command resources necessary to continue illegal activities.The use of asset forfeiture in criminal investigations aims to undermine the economic…