Reported by Lukas I. Alpert A boastful teenage hacker has been charged with orchestrating a break-in to the sports betting website DraftKings, which led to $600,000 being drained from hundreds of customer accounts. Joseph Garrison, 18, of Madison, Wis., is accused of using stolen log-in and password combinations he bought on the dark web to […]
Reported by JOSHUA GOODMAN Associated Press Writer A federal judge in Houston has dismissed criminal charges against a Swiss banker accused of helping stash millions in bribes paid to senior Venezuelan oil officials over long delays in bringing the case to trial. Judge Kenneth Hoyt ruled Wednesday that unjustified trial delays violated Paulo Murta’s constitutional […]
Reported by James J. Park is a Professor of Law at UCLA The 2019 collapse of the Brumadinho dam in Brazil not only released 12 million tons of mining waste and took 270 lives, it prompted the filing of a major securities fraud enforcement case in the United States by the Securities & Exchange Commission […]
Reported by Sarah N. Lynch NEW YORK, May 10 (Reuters) – U.S. Representative George Santos was arrested on Wednesday on federal charges of fraud, money laundering and theft of public funds in the latest hit to the newly elected Republican, who has resisted calls to resign for lying about his resume. The 13-count indictment, unsealed […]
Reported by KIRK O’NEIL Ponzi Scheme Lawsuit is Wells Fargo’s New Problem The latest controversy involving Wells Fargo is a lawsuit filed on May 4 by a court-appointed receivership against the bank, accusing it of helping to facilitate a multimillion Ponzi scheme dating back to 2017 and allegedly run by Las Vegas attorney Matthew Beasley, which targeted […]
Reported by Keith Griffith A notorious short-seller has targeted billionaire activist investor Carl Icahn, accusing his company of relying on ‘ponzi-like economic structures’ to pay unsustainable shareholder dividends. Hindenburg Research on Tuesday disclosed a short position in Icahn Enterprises (IEP), and issued a report accusing the holding company of inflating the value of its units […]
Reported by By Aoyon Ashraf Operation Choke Point 2.0,” the alleged coordinated efforts by the Biden administration to cut the cryptocurrency industry off from the U.S. banking sector, is the Securities and Exchange Commission’s “chemotherapy” for a $14 billion “Ponzi cancer,” said Oliver von Landsberg-Sadie, founder and CEO of crypto banking firm BCB Group. He […]
Reported by Reuters The Commodity Futures Trading Commission (CFTC) on Tuesday filed a civil enforcement action against Fisher Capital and its owner, Alexander Spellane, alleging it perpetrated a precious metals investment fraud targeting older adults. The Los Angeles-based dealer of precious metals defrauded “hundreds of elderly persons into investing more than $30 million in gold […]
Reported by Kris Holt A former Apple employee who pled guilty to defrauding the company out of over $17 million has been sentenced to three years in prison and ordered to repay his ill-gotten gains. Dhirendra Prasad, who primarily worked as a buyer in Apple’s Global Service Supply Chain department during his time at the […]
Reported by U.S. Department of Justice, U.S. Attorney’s Office, Southern District of New York Cooper Morgenthau Embezzled More Than $5 Million and Caused False Statements to be Made to Accountant and Auditor and in SEC Filings Damian Williams, the United States Attorney for the Southern District of New York, announced today that COOPER MORGENTHAU, the […]
Financial Crime News Briefs 