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Tag Archives: business

Former Chief Accountant Of Beazer Homes Convicted Of Fraud

Last Friday former chief accounting officer, Michael Rand, for Beazer Homes was convicted for seven crimes relating to an accounting fraud conspiracy at Beazer over a seven year time span along with document destruction and obstruction of justice. The government has been investigating Beazer for just over 3 and a half year (since March 2007) and in July of 2009 ... Read More »

North Carolina Man Is Seventh Convicted Of $40 Million Black Diamond Ponzi Scheme

It was announced last week that Bryan Keith Coats of Clayton, North Carolina plead guilty to his role in connection with the Black Diamoind Ponzi Scheme Investigation that resulted in a $40 million investment fraud conspiracy. Coats admitted to one count of conspiracy to commit commodities, securities, and wire fraud and one count of promotional money laundering conspiracy. According to ... Read More »

Bank Of America Backs Off $5 Debit Card Fees After Anti-Fee Petition Skyrockets

Tell Bank Of America No Debit Card Fees

Just one month ago I wrote about the implementation of debit card fees coming into play for big banks such as Chase, Wells Fargo and most notably Bank of America. Due to the change in a new government regulation that caps what banks can charge merchants for debit transactions they announced plans to implement a monthly debit card fee to ... Read More »

BBB Warns of StubHub E-mail Scam

The Better Business Bureau (BBB) announced last week that a new phishing scam could be hitting an e-mail inbox near you! False e-mails are being sent from what appears to be ticketing sales site, StubHub (you know, the Ryan Secrest endorsed ticket site), and are tricking many victims into turning over personal information. Apparently it’s been reported that the e-mail ... Read More »

Commonwealth Temporary Services Owner Sentenced For “One Of The Most Egregious Tax Evasion Schemes”

It was announced on October 26, 2011 that Michael Powers, former owner of Commonwealth Temporary Services, a temporary employment agency, has been sentenced to seven years in prison in “one of the most egregious tax evasion schemes” the sentencing judge had ever come across. The former temp agency apparently ran a $30 million under-the-table payroll scheme and avoided more than ... Read More »

BBB Warns Of Unapproved Funds Directly Withdrawn By Funds Direct

Yesterday the Better Business Bureau (BBB) put put a warning of an “instant cash” Las Vegas company, Funds Direct, that are allegedly debiting consumer’s accounts $30 without authorization. Complaints filed by consumers are saying that their accounts are having direct withdrawals taken but that they have never had any contact or even heard of Funds Direct until their money was ... Read More »

Federal Government Job Scam Halted

The Federal Trade Commission (FTC) has halted a countrywide scheme that falsely promised consumers help to get federal government jobs through exclusive listings. According to the FTC, Frontier Publishing, doing business as American Data Group, targeted and charged consumers for information pertaining to federal government jobs (jobs that the federal government provides for free) but did not give them enough ... Read More »

True Cradle Robbers – Stealing Credit From The Cradle

It’s often not a parent’s first thought to check the credit report of their minor child, however, it may now become a necessity. Not because a child may fraudulently be using credit without their parents’ knowledge but because scammers may have stolen their unused Social Security number and identity. The Better Business Bureau (BBB) put out a warning last week ... Read More »

Treasury Reports An 88 Percent Increase In Mortgage-Fraud Since 2010

Banks are re-examining loans that took place during the housing boom and are now finding problems which has resulted in a large jump of reported mortgage-fraud. Reports are showing an 88 percent jump in the second quarter according to the Treasury Department. “Most of the mortgages suspected of fraud closed during the height of the real-estate bubble, the financial-crimes division ... Read More »

Homeowners In Financial Distress Lose Over $1.2 Million To Mortgage “Rescue” Fraud

To the tune of a MasterCard commercial: $4.7 million in fradulent mortgage loans… $944,224 lost by lenders…. $1.2 million lost in equity to homeowners…. Shameful. Mary Ann Dean and Charles Donaldson pleaded guilty to the charge of conspiracy to commit wire fraud in connection with a mortgage fraud scheme of Sunset Mortgage Company. Dean was a loan originator and operator ... Read More »

Another MetLife Employee Strikes Again!

Just a few days ago I reported on how former MetLife employee, Mark Edward Salyer of Tennessee, was responsible for the investment fraud scheme to the tune of $6 million between June of 2005 until June of 2007. Three days later, on October 6, 2011, Pensylvannia resident John Wosotowsky pleaded guilty to two counts (mail fraud and filing a false ... Read More »

Steve Jobs iPad Scam

The world lost a legend five days ago. One of my role models, Steve Jobs. The world has publicly written, tweeted, Facebooked, blogged, vlogged and internally mourned the passing of the former Apple CEO. It’s not only amazing how one man changed the world with one idea but that his passing had lead to such a deep sadness of millions ... Read More »

Father And Son Sentenced For $930 Million Ponzi Scheme

Sometimes the apple doesn’t fall far from the tree. When children are growing up many look up to their parents and imitate them on a daily basis. “When I grow up, I’m going to be just like daddy!” But what happens when your parent is a fraudster? Father, Roberto Torres, former chief financial officer, and son, Alejandro Torres, former accountant ... Read More »

A Double Dose Of Commodities Scams In North Carolina

Two completely separate men were charged in two completely separate Ponzi schemes in one completely same city of Charlotte, North Carolina on September 23, 2011. Both defendants plead guilty to commodities fraud. Apparently they both promised victims enormous profits from trading in the Charlotte, North Carolina commodities futures market. Mitchell Brain Huffman was charged with a criminal bill of information ... Read More »

New Jersey Commodity Pool Operator And Day Trader Faces 55 Years For Two Separate Schemes

Victor Cilli pleaded guilty on October 3, 2011 to an Information charge against him with one count of securities fraud, one count of conspiracy to commit bank fraud and one count of tax evasion. Cilli was a commodity pool operator and day trader in New Jersey and directed two schemes to defraud investors and financial institutions out of about $2 ... Read More »

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