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The Formula For Fraud Is Not Greater Than Or Equal To The Formula For Investing

An alleged investment fraud scheme has lead to an indictment charging Robin Brass with four counts of mail fraud where she could face up to 20 years in prison and a fine of up to $250,000 on each count. Allegedly, from around March 2009 until approximately November 2011, Brass acting as a principal of The BBR Group, Nibor Investment Fund, ... Read More »

Michigan Man Sentenced For $84 Million SBA Loan Fraud

Earlier this month David Faraj was sentenced to 61 months in prison for his participation in an $84 million dollar Small Business Administration (SBA) loan scheme. According to the plea documents, between 2000 and 2005, Faraj obtained SBA guaranteed loans through the use of straw purchasers. He falsified documents to make it appear that the straw purchasers were credit worthy. ... Read More »

Owner Of Three Precious Metal Firms Sentenced In $29.5 Million Investment Scheme

Earlier this month Jamie Campany, owner of three invesment firms specializing in alleged metal purchases, was sentenced to 151 months in prison on multiple counts of mail and wire fraud. According to the Information filed in the case and statements made in court during the plea and sentencing, Campany was the owner of three investment firms specializing in purported gold, ... Read More »

Mid-2000s Multimillion Dollar Fraudster Finally Gets Sentenced

In the mid-2000s Clarence Allen Rice, owner of C & J Leasing Corporation, ran a complex, multimillion dollar wire fraud scheme to which he was just sentenced to a term of 70 months in prison for earlier this month. Trial and sentencing evidence showed that Rice suffered over $800,000 in day trading losses in the early 2000s using his company’s ... Read More »

Three Plea Not Guilty In Skimming Scam Across Southern New England

Three New York residents were charged last week with an indictment charging them with conspiracy, bank fraud and identity theft offenses related to an alleged participation in an ATM “skimming” scheme across southern New England. Gabriela Graham and two citizens of Turkey, Mehmet Aydin and Ahmet Cilek, were each charged with one count of conspiracy to commit bank fraud, six ... Read More »

Former Owner And President Of Allied Health Care Sentenced For $135 Million Phony Lease Scheme

Former owner and president of Allied Heath Care Services, Charles Schwartz, was sentenced last week to 195 months in prison (16.25 years) for organizing and executing a $135 million phony lease scheme that losses of more than $80 million and victimized over 50 financial institutions. In April Schwartz pleaded guilty to one count of mail fraud but has been in ... Read More »

Home Start America CEO And Founder Sentenced To 50 Months In Prison For Role In $1.5 Million Fraud Conspiracy

CEO and founder of alleged real estate investment firm Home Start America (HSA), Michael Kaufman, was sentenced to 50 months in prison last week for his role in a long-running, large scale wire fraud conspiracy with loan officer David Wynn. According to documents filed and statements made in court: Kaufman founded HSA in Bloomfield, New Jersey, and at one time ... Read More »

Refunds Now Being Sent To Victims Of Express Consolidation Debt Management Services

Four years after the Federal Trade Commission (FTC) filed a case against Randall Leshlin and his debt management services company, Express Consolidation, the FTC is mailing out refund checks to almost 3,000 consumers across the country that fell victim to worthless debt management services. The reimbursement stems from a February 2009 contempt finding against Florida attorney Randall L. Leshin, and ... Read More »

If At First You Don’t Succeed, Commit Fraud and Fail Again : Defrauding From Behind Bars

Three defendants have been sentenced to federal prison on charges of bank fraud and aggravated identity theft; one man committing fraud from prison. According to United States Attorney Sally Quillian Yates, the charges and other information presented in court: In late January 2011, Samantha Johnson stole the wallet of a 93-year-old woman while she was shopping at a retail establishment ... Read More »

Embezzled, Diverted And Stolen Funds Used To Pay For Adult Entertainment

The guilty plea of vice present and co-operater of Coral Mortgage Bankers Corporation’s University City office, Matthew Kent, was announced earlier this month by the United States Attorney’s Office. According to court documents, between May 2007 and December 31, 2010, Kent, his partner in Coral Mortgage, David Rubin and Joshua Gould, formerly of Woodbury Financial, embezzled approximately $1,500,000 from a ... Read More »

Mother Sentenced To Almost 6 Years Jail Time In Family Fraud Affair

Earlier this year Janice Edwina Demmitt was convicted of the federal felony offenses charged in a 27-count indictment against her and her son, Timothy Fry. At trial, Demmitt was convicted on on one count of conspiracy to commit money laundering, eight counts of wire fraud and 11 counts of money laundering. Her son, Fry, whom plead guilty to one count ... Read More »

Defendants Arrested In Conjunction With $700,000 Health Care Fraud

Earlier this month three people, Ovsanna Agopian (aka Joanna Ovsanna / Joanna Smbatyan / Ovsanna Agopian), Boghos Babadjanian and Tolulope Labeodan, were charged in a federal indictment with various offenses related to their involvement in the operation of Euless Healthcare Corporation. The 10-count indictment charges each defendant with one count of conspiracy to commit health care fraud and nine substantive ... Read More »

SIGTARP Shuts Off Google, Yahoo and Bing Ads for Mortgage Modification Scams

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The Office of the Special Inspector General for the Troubled Asset Relief Program (SIGTARP) announced that it has shut down 125 alleged online mortgage modification scams that prey on vulnerable homeowners through Web banners and other Web advertisements. SIGTRAP also worked closely with Bing and Yahoo to stop online advertisements. SIGTARP investigates mortgage modification schemes in which companies charge struggling ... Read More »

CPA Pleads Guilty In Connection With $670 Million Fraud Scheme

Certified public accountant (CPA) and alleged outside auditor for Provident Capital Indemnity (PCI), Jorge Luis Castillo, plead guilty last week for his role in a $670 million fraud scheme effecting victims across the country and abroad. Castillo plead guilty to conspiring to commit mail and wire fraud, which carries a maximum penalty of 20 years in prison. According to a ... Read More »

Missouri Mayor Sentenced For Fraud, Embezzlement And Witness Tampering

Earlier this month the United States Attorney’s Office announced that Kinloch, Missouri’s Mayor Keith Conway was being sentenced to 21 months in prison and ordered to pay restitution of $62,429 on charges of using the city’s funds to pay personal expenses, fund personal travel, purchase a Florida vacation condo timeshare (sorry, no jail clause in those puppies!), and attempting to ... Read More »

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