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Tag Archives: fraud

Hells Angel Commits Mortgage Fraud For Marijuana Grow House

In September I covered a story about two leaders of the Hells Angels that had been accused of mortgage fraud. A mortgage broker in the San Francisco bay area was charged with conspiracy to arrange more than $10 million in fraudulent home loans including the two Hells Angels leaders. Raymond Foakes, former President of the Hells Angels Sonoma Chapter, pleaded ... Read More »

Elaborate Scheme Leaves 180 With Over $1 Million In Fraudulent Purchases

Charges were announced last Thursday against seven members of an identity theft ring that allegedly used stolen identities of more than 180 people at major New York City retail stores including Home Depot, Sears, Kmart and Kohl’s, among others. The ring of fraudsters resold merchandise and gift cards for a profit after purchasing them under account holders names fraudulently. Allegedly, ... Read More »

Two Plead Guilty To $1 Million Wire Fraud

Two New Jersey men have pleaded guilty for their roles in a scam that used phony identification documents to open multiple checking accounts to launder and steal more than $1 million. The two men, Abiatu Umah and Emmanuel Awa, pleaded guilty in Newark federal court last week to Informations charging them with one count of wire fraud and one count ... Read More »

Ponzi Schemes Are The New Black

Thirteen days into the year and I feel like all I’ve written about is Ponzi-scheme after Ponzi-scheme after Ponzi-scheme. Today I bring to you the sentencing of Jenifer Devine, the woman who owned a purported wholesale merchandise broker and admitted to running a multimillion-dollar Ponzi scheme that resulted in over $2 million in losses to investors. Devine has been sentenced ... Read More »

New Computer Virus Commits Post Transaction Attacks On Your Bank Account

When my grandma, god bless her soul, hears about a new scam, fraud or any form of financial trickery she immediately calls me up and warns me to stop whatever I’m doing and take notes. To her knowledge I don’t belong to more than one social media network, I don’t buy items online, I don’t apply for credit cards and ... Read More »

Multi-Billion Dollar Securities Scam Surfacing On LinkedIn

As of November 3, 2011 more than 135 million professionals around the world utilize LinkedIn.com and more than 14 million students and recent college graduates around the world are LinkedIn members as of October 2011 (Source). Many internet users don’t recognized LinkedIn as a major social networking site because users don’t utilize the site daily to connect with friends and ... Read More »

Largest Recruiter Of Shapiro’s $930 Million Ponzi Scheme Sentenced

Sydney Jack Williams of Naples, Florida was sentenced today to a year and a day in prison for failing to report more than $12 million to the IRS in related commissions received in Nevin Shapiro’s $930 million Ponzi scheme. Williams previously plead guilty to an Information that charged him with one count of subscribing to a false tax return. During ... Read More »

Fraudster Sentenced After Defrauding Victims In Investment Fraud

James DeAngelis was sentenced last week to 57 months in prison for participation in a fraud investment scheme where he defrauded more than 15 victims out of $800,000. In May of 2011 DeAngelis pled guilty to conspiracy to commit mail and wire fraud, wire fraud, ad conspiracy to structure financial transactions to evade reporting requirements. According to the court documents ... Read More »

Envelope Please! The Top Ten Scams Of 2011 Are In!

Every year the Better Business Bureau investigates hundreds of thousands of scams, from the novel to the old. Recently they compiled and published a list of the top ten scams of 2011 including nine major categories and a “Scam of the Year” category. Curious? Here’s what the BBB has listed: “Top Job Scam BBB sees lots of secret shopper schemes, ... Read More »

Four Israeli Residents Charged With Phony Lottery Prize Scheme Extradited To US

It was recently announced that four defendants have been extradited from Israel on charges relating to their participation in multiple lottery telemarketing fraud schemes. The schemes targeted elderly victims in the United States and netted millions of dollars in profits. In July of 2009 three of the extradited defendants, Avi Ayache, Yaron Bar, and Ian Kaye, were arrested in Israel ... Read More »

Investment Advisor Defrauds Clients Out Of Retirement Funds

Apparently an Illinois investment advisor, Steven Salutric, engaged in an investment fraud that swindled the retirement savings of 10 elderly clients to lose more than $4.26 million. Salutric was charged with one count wire fraud in a criminal information filed in late December of 2011. Apparently Salutric diverted clients’ funds to his personal business associates and to entities in which ... Read More »

University of Georgia Ph.D. Student Sentenced For Fraud And Identity Theft

In early December, Carlton Lewis, a former Ph.D. student was sentenced to 70 months in prison for his role in an identity theft and credit card fraud conspiracy. Throughout the conspiracy, Lewis, who was enrolled as a Ph.D. student at the University of Georgia, provided credit and debit card skimming devices to waitresses working in restaurants across the southeastern United ... Read More »

AmBanc, Commercial Capital Banc and U.S. Underwriting Fraud Scheme

Last month the United States Attorney’s Office announced that James France was indicted for wire wire fraud in connection with an advance fee scheme. Apparently, France held himself out as being in the business of commercial lending, and operated his business under various names such as AmBanc, Commercial Capital Banc and U.S. Underwriting. The indictment alleges that from around 2005 ... Read More »

East Coast Credit Card Fraud Ringleader Gets 12 Years In Prison

An identity thief was sentenced earlier this month to 12 years in prison for managing and east coast credit card fraud ring. Jonathan Oliveras, used counterfeit credit cards encoded with stolen account information up and down the East Coast of the United States and has been sentenced for this crime. In addition to his 12 year prison term, Oliveras must ... Read More »

Fraud Scheme Related to the World Trade Center Site Clean-Up

A trucking company’s owners have been indicted on embezzlement, tax evasion and million dollar fraud charges related to the World Trade Center site clean-up. A thirty-one count indictment was unsealed in federal court in Brooklyn this month charging trucking company owners Gerardo P. Fusella and Vincent J. Fusella, Jr., with crimes including embezzlement, mail fraud and tax charges. As alleged ... Read More »

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