30

ASD internet ad fraud grows to $93.5 million

The U.S. Secret Service has identified and frozen additional funds from AdSurfDaily, Inc (ASD) raising the total from approximately $53 to $93.5 million, but the worldwide investigation first reported on Tulsa Today continues. (Read more...)

Bank of China fraud defendants convicted

LAS VEGAS, Aug. 30 (UPI) -- A federal jury in Las Vegas has convicted two former managers of the Bank of China and their wives in a massive racketeering and money-laundering scheme. (Read more...)

Ex-detective in £250,000 fraud bid

A NOTTS police detective who illegally tried to get a £250,000 bank loan with her convicted criminal husband has been given a suspended prison sentence.

Previously commended ex- Detective Constable Samantha Alexander, 31, met Robert Alexander, 37, when she investigated him for business fraud. (Read more...)

Mortgage fraud adds to Bradford & Bingley's woes

Bradford & Bingley plunged into a £26.7m loss in the first half of the year after it was hit by a rise in mortgage arrears and fraud. (Read more...)

Israeli fraud squad detectives quiz Olmert for 7th time

Jerusalem - Israeli Fraud Squad detectives Friday questioned Prime Minister Ehud Olmert for the seventh time in recent weeks over corruption affairs the premier is suspected of being involved in. (Read more...)

Fewer Loans, But Still More Fraud

You might assume that with home purchases and new mortgage volume off by 30 percent or more in many markets in the past year, loan fraud would be down as well. (Read more...)

Lenders face huge hit on mortgages fraudulently obtained by crime gangs

Britain’s mortgage lenders may be sitting on hundreds of millions of pounds of worthless loans fraudulently obtained by criminals to support drug manufacturing, illegal immigration and money-laundering. (Read more...)

29

Justice Dept. Reining In Prosecutors

The U.S. Justice Department issued new guidelines yesterday to rein in prosecutors pursuing corporate fraud cases, bowing to pressure from Congress. (Read more...)

Police quiz Olmert's wife on purchase of Jerusalem home

Prime Minister Ehud Olmert was questioned under caution for two and a half hours at his Jerusalem residence on Friday, his seventh police interrogation in recent months. Police also quizzed Olmert's wife Aliza for the first time on the purchase of a Jerusalem house. (Read more...)

28

Man reaches plea deal in health fraud case

LOS ANGELES – A man who allegedly recruited and paid homeless people to receive unneeded medical care in a scheme to charge the government millions of dollars reached a plea deal Thursday in U.S. District Court.

Estill Mitts faces 25 years in prison and could pay up to $11 million in restitution after agreeing to plead guilty to conspiracy to commit health fraud, money laundering and tax evasion. He is expected to enter his pleas Sept. 10. (Read more...)

Judge sentences 8 more in fraud scheme

Eight former executives and employees of a Cincinnati company that sold a male sexual aid and other herbal supplements were sentenced Thursday in connection with a massive fraud scheme.

A federal judge handed down sentences ranging from one month to one year for their roles in a scheme that federal prosecutors say netted Berkeley Premium Nutraceuticals more than $500 million. The sentencings came a day after company founder Steven Warshak was sentenced to 25 years in prison. (Read more...)

Audit shows China mismanaged 3.7 bln pounds

BEIJING (Reuters) - Chinese central government departments misused or mismanaged more than 46 billion yuan (3.7 billion pounds) last year, including using disaster relief money to build government offices and diverting funds to speculate in stocks, the National Audit Office said on Thursday. (Read more...)

Justice Dept. Reins in Corporate Fraud Prosecutors

The U.S. Justice Department issued new guidelines to rein in prosecutors pursuing corporate fraud cases, bowing to pressure from Congress.

The changes bar the government from demanding that companies turn over confidential legal materials to win leniency in plea deals. Announced by Deputy Attorney General Mark Filip at the New York Stock Exchange today, the revisions also prevent prosecutors from penalizing companies that pay attorney fees for employees under investigation. (Read more...)

Berkeley Founder Sentenced For Consumer Fraud

Steve Warshak became a wealthy man by founding and running Berkeley Premium Nutraceuticals, which featured a pitchman named "Smiling Bob" for a male enhancement product called "Enzyte."

Now, that empire is in severe jeopardy because of what the government alleged was a massive consumer fraud scheme. (Read more...)

Rotech pays $2M to settle fraud charges

Rotech Healthcare, Inc. has paid $2 million to settle civil charges that it engaged in false or fraudulent conduct in billing Medicare for medical equipment, according to the law firm representing a former executive of the company. (Read more...)

Court Slaps Schemer for $428M Fraud

The SEC has won a victory in its case against a massive $428 million securities fraud that victimized thousands of seniors and other investors throughout the United States. A Chicago federal court permanently enjoined Warren Chambers of Cedar Park, Texas, and his company Century Estate Planning, from future violations of the federal securities laws. (Read more...)

27

New Zealand foreign minister's party investigated for fraud

WELLINGTON (AFP) — The future of New Zealand Foreign Minister Winston Peters was in doubt Thursday after officials announced a fraud investigation into donations to his political party. (Read more...)

Ohio company owner gets 25 years in fraud case

CINCINNATI (AP) — A business owner convicted of defrauding customers seeking male sexual enhancement products and a variety of herbal supplements was sentenced Wednesday to 25 years in prison. (Read more...)

Two charged in $30 million fraud scheme

A marathon investigation into one of the biggest financial frauds in B.C. history concluded Tuesday with multiple charges against former Vancouver lawyer Martin Wirick and Vancouver real estate developer Tarsem Singh Gill. (Read more...)

Former Tax Employee Pleads Guilty to Fraud

A former D.C. tax office employee pleaded guilty yesterday to a fraud charge in a scam that cost the D.C. government about $184,000, prosecutors said. (Read more...)

Fraud inquiry into fake sick notes sold on web

The NHS fraud squad is investigating a website that sells fake doctors' sick notes for £25 each.

The documents are almost identical to a genuine letter from a GP or hospital, and are printed with real doctors' names and feature notes that are stamped and signed. (Read more...)

Foreign banks help out in ‘fraud’ case

Taipei has sought the help of international banks as part of its probe into an alleged money-laundering case implicating former president Chen Shui-bian and his family, a prosecutor said yesterday. (Read more...)

26

Gazprom Germany Chief Suspected of Financial Fraud

Chief of Gazprom Germania GmbH – the German affiliate of Gazprom Export Hans-Joachim Gornig, is suspected of fraud and stealing money. According to the German press, the 66-year-old Mr. Gornig made contracts with Gasconsult GmbH on behalf of ZMB GmbH (affiliate of Gazprom Germania) acting as a Gasconsult GmbH co-owner. (Read more...)

Arrest made by OPP in multi million dollar cheque fraud

The Ontario Provincial Police (OPP) Identity Crime and Forgery Investigation Unit have arrested a mail courier in relation to a large scale cheque fraud operation. (Read more...)

3 charged in alleged $13 million fraud

ATLANTA (AP) - A federal grand jury has indicted three men in an alleged fraud scheme involving a privately built corrections facility in Colorado. (Read more...)

Mortgage fraud still soaring

NEW YORK (CNNMoney.com) -- With the housing market in turmoil and lending standards tougher than ever, you'd think that the kind of unscrupulous activity that helped plunge the industry into crisis would be a thing of the past.

You'd be wrong. (Read more...)

25

EU anti-fraud cops to raid suspect businesses

Inspectors from the European Commission (EC) will have authority to check Bulgarian businesses under changes to the State Financial Inspection Act being drafted by the government.

The EC inspectors will be able to raid any local company without prior notification of consent, said Bulgarian justice minister Miglena Tacheva. (Read more...)

Report: Medicare Drug Fraud May Go Unnoticed

Seems like every time we turn around there’s a new report on Medicare’s ability — or lack thereof — to monitor for fraud. (Read more...)

24

Greed or economic stress?

Employees working the floor of Schiek's, the self-described gentleman's club in downtown Minneapolis, believed free-spending Nathan John Mueller was a lottery winner, to the tune of $93 million. But the only score won by Mueller was a four-year deceit that allowed him to divert a whopping $8.5 million from his employer into his own pockets. (Read more...)

23

Woman stole $1.4M 'because she could'

A former legal assistant with the city's largest law firm misappropriated $1.4 million because "it gave her a rush," court heard Friday. (Read more...)

Court ruling upholds accounting anti-fraud law

A federal appeals court denied a constitutional challenge to a 2002 anti-fraud law that created a board to oversee the accounting industry after a wave of business scandals. (Read more...)

Man charged with $214M fraud scheme

A man who set up a Florida company that claims to have its own currency has been charged with trying to defraud the Bank of America of more than $200 million. (Read more...)

22

Germany's D.Bahn finds fraud at Schenker unit

BERLIN, Aug 22 (Reuters) - German rail operator Deutsche Bahn said it discovered an accounting fraud totalling tens of millions of euros at its Schenker unit in Belgium but that would not affect the planned flotation of its logistics business. (Read more...)

Teenage DNA sleuths expose New York fish fraud

ACCRA (Reuters) - Up to a quarter of fish in stores and restaurants in New York City was mislabelled as a more expensive variety, according to samples collected by two U.S. teenagers and tested with modern genetic identification methods. (Read more...)

Identity theft becoming cash cow for organized crime

MONTREAL -- Personal and financial information is becoming just as attractive as cocaine and marijuana to Canada's organized crime groups. (Read more...)

21

Fraud halts US refugee programme

The United States has suspended a programme aimed at reuniting refugees from Africa with relatives in the US because of widespread fraud. (Read more...)

20

Auditors PwC replaced after fraud

GREENCORE HAS dispensed with the services of its external auditors PricewaterhouseCoopers (PwC) following a €21 million fraud at its Campsie Mineral Water business in Scotland. It has appointed KPMG in its place. (Read more...)

Former company boss admits $3m fraud

Former insurance company managing director Blair John Fitzsimons today pleaded guilty to eight charges involving the embezzlement of $3 million which almost sent a Napier company broke last year. (Read more...)

19

Attorney Gets 10-Year Sentence for $20M Tax Fraud

A Utah attorney was sentenced to 120 months in prison and 36 months of supervised release after he was convicted of participating in a $20 million offshore tax fraud conspiracy. (Read more...)

9,000 credit cards illegally copied in scam on stores

ABOUT 9,000 credit and debit cards have been illegally skimmed by a criminal gang in the biggest attempted payment card fraud to date in the Republic. (Read more...)

18

Six plead guilty in $17M mortgage fraud scheme

Six South Florida residents have pleaded guilty in connection with a mortgage fraud scheme that defrauded several financial institutions out of more than $17 million. (Read more...)

Visa to test real-time fraud alerts

NEW YORK (Reuters) - Visa Inc and eight U.S. and Canadian lenders have launched a pilot program designed to alert cardholders in real time that they might be victims of fraud. (Read more...)

Fire brigade fraud 'like winning lottery'

The Independent Commission Against Corruption (ICAC) has been told New South Wales taxpayers were defrauded of more than $2.5 million due to alleged corruption by two fire brigade project managers. (Read more...)

General Dynamics settles Navy fraud case at $4 mln

NEW YORK (Reuters) - General Dynamics Corp has agreed to settle charges that it overbilled the U.S. government for Navy plane and submarine parts by paying $4 million to the government, the U.S. Department of Justice said on Monday. (Read more...)

17

Tamweel shares fall after fraud probe

Dubai: Tamweel PJSC shares dropped a second day on Sunday after Dubai Police said a former chief executive officer of the company is under investigation for alleged financial wrongdoing. (Read more...)

15

Nakheel executive faces fraud probe

Prosecutors launch investigation into property sales understood to be worth more than $800m. (Read more...)

Amerigroup Settles Medicaid Fraud Charges, Whistleblower Awarded $56.3 Million

Amerigroup will pay $225 million to settle charges of Medicaid fraud, the U.S. Justice Department said on Thursday. A former Amerigroup employee, Cleveland Tyson, who filed the original lawsuit against the company, will receive $56.3 million of the settlement under federal whistleblower law. (Read more...)

Raid turns up chip and pin card fraud

Fraud investigators have for the first time discovered chip-and-pin card readers in the possession of criminals, suggesting a new level of sophistication in attacks on the payments system lauded by banks as safe. (Read more...)

14

Daewoo founder back in court months after pardon

SEOUL (AFP) — The founder of South Korea's now-defunct Daewoo group on Wednesday admitted hiding assets worth millions of dollars, months after he was pardoned over one of the world's largest corporate failures. (Read more...)

Raid turns up chip and pin card fraud

Fraud investigators have for the first time discovered chip-and-pin card readers in the possession of criminals, suggesting a new level of sophistication in attacks on the payments system lauded by banks as safe. (Read more...)

Accountant accused of $10m tax fraud

Australian Federal Police (AFP) have charged a 56-year-old Queensland man for a multi-million dollar offshore tax avoidance scheme. (Read more...)

13

Jailed over $600,000 fraud

A County Court Judge has sentenced a man to almost 3 years in jail, for defrauding the Maribyrnong Council of almost $600,000. (Read more...)

12

Gene Little guilty on all 35 counts of securities fraud in Ponzi scheme

A jury has found Fort Collins businessman Gene Little guilty on all 35 counts he faced for securities fraud and theft in connection with a Ponzi scheme that bilked local investors out of nearly $5 millions. (Read more...)

3 developers pleading guilty in $100M fraud

CHARLOTTE, N.C. - Three key players in a $100 million real estate scheme in the western North Carolina mountains will plead guilty to criminal charges related to the bogus development, the U.S. Justice Department said Tuesday. (Read more...)

11

Cyveillance Test Reveals Majority of Active Malware Attacks Go Undetected

Arlington, Va., (PRWEB) August 11, 2008 -- Cyveillance, the world leader in cyber intelligence, today announced that a recent test of best-of-breed anti-virus vendors over a thirty-day period revealed that more than half of all malware threats on the Internet go undetected. Data for the test was compiled from the thousands of active malware threats Cyveillance detects daily1, which was then fed through each of the vendors' anti-virus solutions in real-time. This data was captured as part of Cyveillance's recent 1H 2008 Online Fraud Report," which was issued today. (Read more...)

SEC charges Wextrust with fraud targeting Orthodox Jews

The Securities and Exchange Commission on Monday charged Chicago-based Wextrust Capital LLC and its affiliates with fraud, alleging that the company ran a Ponzi scheme that raised at least $255 million by targeting members of the Orthodox Jewish community. (Read more...)

Mazuz closes several Lieberman forgery and fraud probes

Attorney General Menachem Mazuz announced yesterday that one investigation against MK Avigdor Lieberman will be closed. The investigation included probes into suspicions that the Yisrael Beiteinu MK committed fraud and breach of trust, falsified corporate documents, and received bribes from businessman David Appel.

However, Lieberman will remain under investigation for allegedly taking millions of dollars in bribes from various businessmen through fictitious bank accounts. (Read more...)

SoCal man gets 7 years in prison for fraud scheme

LOS ANGELES—A Beverly Hills man convicted of orchestrating a fraud scheme that bilked more than $8 million from lenders was sentenced Monday to seven years in federal prison. (Read more...)

CFTC establishes task force on currency fraud

WASHINGTON (AP) — Federal regulators have formed a task force to investigate and prosecute fraud in the retail market for trading foreign currencies outside of commodity exchanges, a field they say is riddled with unscrupulous operators. (Read more...)

Massive fraud server exposed

A server discovered in June contained 50GB of stolen user account and financial details, including 9,000 bank and credit-card account credentials and 463,582 user account passwords, according to a report published at the Black Hat conference last week. (Read more...)

10

Hospital Executives Detained For Using Homeless People In Medical Fraud

FBI discovered an alleged fraud scheme involving federal Medicaid and state Medi-Cal health insurance programs. The situation was brought into light four years ago when the agents received a tip from a rescue mission employee.

Scott Johnson, worker at the Union Rescue Mission in Los Angeles’s Skid Row area, said he had seen vans and cars crammed with homeless people. “Sometimes they were so full of people that they put people in the trunks of cars,” said Johnson Thursday. “I wondered what was going on, so I called the state authorities,” he added.

Investigators found out a business practice that was used to defraud taxpayer-funded healthcare programs of millions of dollars by means of taking on homeless patients for unnecessary medical services. According to officials, Medi-Cal and Medicare, administered by the United States government, were billed for costly and unjustified medical services for almost 3 years. (Read more...)

Banks insist they are keeping card fraudsters at bay

08

Former National Century Financial Enterprises CEO Sentenced to Ten Years in Prison

WASHINGTON, Aug 08, 2008 /PRNewswire-USNewswire via COMTEX/ -- Lance K. Poulsen, the former chief executive officer of National Century Financial Enterprises (NCFE), was sentenced in U.S. District Court in Columbus, Ohio, today to ten years in prison for conspiring to interfere with a witness who was preparing to testify in the fraud trial against Poulsen and other NCFE executives involved in a $3 billion securities fraud scheme. (Read more...)

Divers guilty of NHS bends fraud

Two divers have been found guilty of swindling £250,000 from the NHS for treating bogus cases of the bends.

David Welsh, 49, from Plymstock, Devon, and 43-year-old Michael Brass from Liverpool paid strangers to pose as divers needing decompression treatment. (Read more...)

GM Reaches Settlement In Securities-Fraud Case

In the midst of an otherwise difficult time, auto maker General Motors Corp. is close to putting one problem behind it, announcing Thursday that the company has reached a $277 million settlement with a class of shareholders over alleged accounting irregularities.

GM auditor Deloitte & Touche LLP will kick in an additional $26 million, bringing the total settlement amount to $303 million. The settlement is still subject to court approval. (Read more...)

Amodeo denies late payroll tax payment was a fraud

A day after federal prosecutors unveiled an indictment against the former head of Mirabilis Ventures Inc. for alleged payroll tax fraud, a spokesman for Frank Amodeo said the charges were a mistake.

“After two years of full cooperation, it’s unfortunate that the federal government waited until Mr. Amodeo was admitted into a treatment program to indict him,” said Bob O’Malley in a statement. “Nevertheless, Mr. Amodeo expects any resulting trial will reveal that this is simply a case of delayed tax payment and that the fraud charges are without merit. Independent polygraph testing confirmed this.” (Read more...)

Refco Executive Gets 10 Years for Fraud

Tone N. Grant, former president of Refco, once the largest independent commodities brokerage firms, was sentenced to 10 years in prison for his role in a $2.4 billion fraud that involved hiding huge trading losses from clients. (Read more...)

07

Hospital CEO held in alleged Medi-Cal and Medicare fraud

A hospital CEO was arrested Wednesday in what authorities said was a scheme to recruit homeless people as phony patients and bill government programs for millions of dollars in unnecessary health services. (Read more...)

06

US charges 11 in theft of 40 million credit, debit card numbers

Eleven people have been indicted in Boston for stealing and selling some 40 million credit and debit card numbers they obtained by hacking into the computers of nine major US retailers, the US Justice Department said. (Read more...)

Ohio execs sentenced for $1.9B fraud

COLUMBUS, Ohio (AP) — A federal judge on Wednesday handed down the first sentences to defendants convicted in a $1.9 billion corporate fraud case that federal prosecutors compared to the Enron or WorldCom scandals. (Read more...)

05

Top UBS lawyer named in fraud lawsuit quits

David Aufhauser, the senior lawyer at UBS’s investment bank in New York, has quit three days after he was identified as one of seven executives at the centre of a fraud lawsuit filed by state authorities. (Read more...)

UK shoplifter jailed for $2700-a-day DIY fraud

A conman in Britain who lived a millionaire lifestyle by fraudulently claiming refunds for stolen DIY goods was jailed for two years and four months yesterday.

Kevin Castle, 43, known to police as the "millionaire shoplifter", used a simple but effective fraud to extract hundreds of thousands of pounds from stores across the country. (Read more...)

Hundreds caught in Olympic internet ticket fraud scheme

Beijing (dpa) - The BeijingTicketing.com website was offering tickets for Friday's Olympic opening ceremony for 1,750 and 2,150 dollars on Monday, naming the prices "very competitive."

Tickets for prime events such as swimming were also available at the site calling itself "a secure and reliable ticket agent."

But the Los Angeles Times said that the International Olympic Committee and United States Olympic Committee were hoping that a San Francisco judge shuts down the website later on Monday because it is believed to be part of a massive ticket fraud operation. (Read more...)

03

Commercial cheats cost UK banks £2bn a year

Commercial fraud far outstrips the effect of mortgage fraud, costing Britain's banks £2bn a year, according to accountants BDO Stoy Hayward.

Fraudsters target banks' corporate lending departments in much the same way as mortgage cheats hit the retail arms, by inflating asset valuations and income predictions, but on a far greater scale. BDO partner and head of fraud Simon Bevan said lenders rarely recover the losses, which need to be chased through the civil courts. (Read more...)

02

Woman who blamed voodoo curse for £1m fraud convicted

A woman who claimed a voodoo curse had led to her bank accounts being hijacked was yesterday found guilty of a £1m benefit fraud. (Read more...)

NY to file fraud charges against Citigroup

New York state Attorney General Andrew Cuomo said Friday that his office intends to file charges against Citigroup for the alleged fraudulent marketing and sale of troubled auction-rate securities to everyday investors. (Read more...)

BAE chief warns of fraud probe fall-out

The on-going fraud investigations into BAE Systems are damaging perceptions of the UK around the world, the outgoing chief executive of Britain's largest arms contractor warned yesterday. (Read more...)

Six Sentenced In Multimillion Fraud Ring

Six men have been sentenced for their involvement in a $3.5 million central Ohio fraud and theft ring. (Read more...)

01

Fraud Bureau Makes Largest Counterfeit Goods Seizure in Canada

Mississauga – After a lengthy investigation, officers from the Fraud Bureau have raided three Mississauga-area warehouses, in what has been described by industry experts as the largest seizure of counterfeit goods in Canadian history. (Read more...)

State charges Merrill with investor fraud

Massachusetts regulators yesterday charged Merrill Lynch & Co. with fraud and unethical conduct in the sales of auction-rate securities, alleging that the Wall Street firm pressured research analysts to publish misleading reports on the investments and failed to warn customers about the risks in the market. (Read more...)

Ex-NBC Universal Employee Pleads Guilty To Wire Fraud

NEW YORK -(Dow Jones)- A former treasury department employee at General Electric Co.'s (GE) NBC Universal Inc. pleaded guilty Friday to participating in a scheme to embezzle money from the media company. (Read more...)