Question: Dear Steve, The bank called me and told me that I must pay 12600 first before I can apply for account restructuring with an interest rate of 1%. I was not able to pay it as of now because I am jobless. What should I do or how should I respond to the threats …
You don’t need to be a financial genius or fiscally sound in order to save money. In fact, anyone can save! Anyone with the ability and willingness to save can be a master saver. Taking a few simple ideas and applying them to everyday life can really make a difference over time. A life saver, …
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 …
Last Thursday it was announced that Laurentiu Ilian Bulat was arrested yesterday for allegedly participating in a fraud ring that stole at least $1.5 million from HSBC customer bank accounts by installing “skimming” devices on more than 40 ATMs in Manhattan, Long Island, and Westchester, New York. According to the Complaint since May 2011, the …
It was announced today that a Federal Trade Commission (FTC) action has banned a payment processor from using a new payment method to debit accounts after allegedly debiting millions from consumers’ bank accounts without their consent. Payment processors provide merchants with the ability to obtain customer payments for products and services via electronic banking. According …
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 …
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 …
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 …
Announced earlier last week was the filing of a civil money-laundering and in rem forfeiture complaint alleging a massive, international scheme in which Lebanese financial institutions, including a bank and two exchange houses linked to Hizballah, used the U.S. financial system to launder narcotics trafficking and other criminal proceeds through West Africa and back into …
Back in May of 2008 David Whitaker pled guilty to an information charging him with wire fraud, conspiracy to commit wire fraud, money laundering and commercial bribery to which Whitaker admitted to defrauding around 83 business account customers and a credit card processing company of over $10 million. Earlier this month he was finally sentenced …