Reported by USAO – New York, Southern Damian Williams, the United States Attorney for the Southern District of New York, Attorney General Merrick Garland, and Assistant Attorney General Kenneth A. Polite of the Justice Department’s Criminal Division, announced today that the Madoff Victim Fund established by the Department of Justice began its eighth distribution to […]
Reported by: Victoria Moore Wine fraud is still prevalent today and it’s not just a collectors’ problem, restricted to rare and valuable bottles sold at auction. The trade in bulk wine has often been accused of covering up cases of passing-off, with riper grapes from sunnier countries or regions adding stuffing to thin vintages from […]
Reported by: Todd Spangler Former Green Bay Packers QB Brett Favre’s weekly NFL show for SiriusXM has been put on hold, a company spokesman confirmed to Variety. It’s the latest business deal in jeopardy over the pro QB’s involvement in a welfare fraud case in Mississippi. Favre allegedly conspired with former Mississippi Gov. Phil Bryant […]
Reported by: CHLOE TAYLOR Cryptocurrencies are dangerous “Ponzi schemes” that put billions of dollars at risk every year, JPMorgan CEO Jamie Dimon declared in a scathing review of the volatile digital assets. In congressional testimony on Wednesday, Dimon referred to himself as “a major skeptic” on cryptocurrencies like Bitcoin. “They are decentralized Ponzi schemes, and […]
Reported by: LEXY PEREZ and LULU GARCIA-NAVARRO Shakira is facing a legal battle after being charged with tax evasion, as prosecutors in Spain alleged she failed to pay the Spanish government 14.5 million euros ($15 million) in taxes between 2012 and 2014. Prosecutors also said if she’s convicted, they would ask a court to sentence […]
Reported by: Helen Parry Senior Regulatory Intelligence Expert / Thomson Reuters Regulatory Intelligence The United Kingdom’s Financial Conduct Authority (FCA) confiscation announcement relating to investment adviser Richard Faithfull, and the Serious Fraud Office (SFO) announcement concerning David Ames, highlight examples of successful convictions in cases concerning overseas transnational investment fraud. A close examination of the […]
Reported by: InsuranceNewsNet Oppenheimer & Co., a New York-based brokerage and investment bank, was ordered to pay nearly $37 million in damages to 11 investors who lost money in a $110 million Ponzi scheme, allegedly conducted by two firms under the control of John Woods, a Marietta, Georgia resident. Woods, a long-time broker with Oppenheimer, […]
Reported by: Bloomberg Another Morgan Stanley executive whose communications were sought in a US probe into how Wall Street handles big stock trades has been placed on leave, amid a flurry of behind-the-scenes activity in the investigation. Authorities haven’t accused anyone of wrongdoing. Morgan Stanley is embroiled in the sprawling investigation examining how Wall Street […]
Reported by: Marc Saltzman Cybercrime cost Americans over 50 nearly $3 billion last year, a whopping 62% increase from 2020, according to the FBI’s 2021 Elder Fraud Report. In fact, the number of victims could be much higher, as seniors are also less likely to report fraud, says the FBI. This is supported by figures from the […]
Reported by: Jona Jaupi IF YOU don’t want to get scammed on Facebook, then there are some important red flags you should never ignore. TikTok user @KatieClarck0 shared the signs she looks for to avoid getting scammed when selling items on Facebook. Watch TikTok: http://www.tiktok.com/t/ZTRarmwKg/ Read full report: https://www.the-sun.com/tech/6210170/facebook-market-scam-money-red-flags/amp/
Financial Crime News Briefs 