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Tag Archives: M&A

Friday The 13th: Unlucky For Fraudsters, Lucky For Potential Victims

Those that are superstitious often view Friday the 13th as an unlucky day. This past friday, January 13th, members of an identity theft ring received some unlucky news when they were sentenced to prison. Contrary to superstition, this was a very lucky day for future victims that could have fallen into their web of lies and deceit. Two men, Richard ... Read More »

YachtOne Fraudster Pleads Guilty To Yacht-Investment Scam

On January 6, 2012, Alton Milton pleaded guilty to wire fraud in connection with a yacht-investment scam and could face between 27 and 33 months in prison with three years of supervised release and ordered to pay over $886,000 in resitution. Milton admitted the details of his crime before the Judge last week. In approximately May 2004, Minton entered into ... 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 »

Attorney Sentenced In $50 Million Bank Fraud

Kevin Harold Lewis was sentenced to 121 months incarceration to be followed by three years of supervised release for bank fraud. Lewis was also ordered to pay $33,826,326 in restitution. An additional amount of restitution will be considered after briefs are filed regarding the loss to Centennial Bank of Cabot, Arkansas. Lewis was ordered to report to the Bureau of ... Read More »

Multi-Million Dollar Stock Fraud Of Signalife

An attorney for South Carolina health care device company, Signalife, was arrested last week at Los Angeles International Airport (LAX) on charges related to his alleged role in a multi-million dollar market manipulation fraud scheme. The indictment charges Mitchell Stein with one count of conspiracy to commit mail fraud and wire fraud, three counts of mail fraud, three counts of ... Read More »

It’s A Hard Knock Life For Mortgage Fraudsters

For my generation the term “Hard Knocks” cannot be mentioned without the memorable image and sound of Jay-Z’s “ghetto anthem” rendition of “It’s A Hard Knock Life” from the play Annie. My personal favorite lyric and image from the infamous song being: “I’m from the school of the hard knocks, we must not let outsiders violate our blocks.” You see, ... 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 »

Hacking, Blackmailing And Idiocy: How Not To Get A Job From Marriott

Did you hear the one about Hungarian who hacked Marriott’s computers and demanded employment? No? It’s a real doozy. Hungarian citizen, Attila Nemeth, has plead guilty to transmitting a malicious code to Marriott International Corporation (Marriott) computers and threatened to reveal confidential information obtained within the company’s computers unless Marriott offered him a job. I’m not sure how job interviews ... Read More »

Transcontinental Warranty Fake Auto-Service Warranties Lands Execs In Prison

After pitching $40 million in fake auto-service warranties two former telemarketing executives are sentenced to five years in prison and a fine of $15,000 each. Christopher Cowart and Cris Sagnelli of Florida pleaded guilty last December to federal fraud charges arising out of the telemarketing sales practices of Transcontinental Warranty, a Florida company selling so called “auto warranties” through robo ... Read More »

Glenn Beck-Endorsed Goldline Charged With Fraud

If you’re familiar with those old television ads with the likes of Glenn Beck and other conservative political figures endorsing the company Goldline you’re more than likely aware of the deals they offered for consumers to buy gold in order to protect families in these rough economic times. Over a year ago ABC Good Morning America’s Brian Ross started an ... Read More »

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 »

The Clean, Green, Defrauding Machine!

Clean Green Fuel’s Rodney Hailey was charged in a criminal information filed on October 3, 2011 with wire fraud, money laundering and a violation of the Clean Air Act in connection with a scheme where he allegedly sold $9 million in renewable fuel credits allegedly produced by his company. According to reports Hailey owned Clean Green Fuel and kept several ... Read More »

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