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  • 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...

    • Posted November 28, 2011
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  • The Misbranding of Vioxx Results In A Nearly $1 Billion Resolution

    Last week the Justice Department announced that Merck, Sharp, & Dohme, an American pharmaceutical company, has agreed to resolve criminal charges and civil claims in relation to their promotion and marketing of the painkiller, Vioxx (rofecoxib) by...

    • Posted November 27, 2011
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  • Arizona Telemarking Scam Leaves 5,000 Out Of Over $6.3 Million

    Earlier this month word broke when a complaint was issued against four Arizona LLCs and 11 Arizonians that Arizona telemarketers had defrauded almost 5,000 people out of over $6.3 million. These criminals conducted a scam that used...

    • Posted November 22, 2011
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  • Considering Purchasing A Work-At-Home Program? The FTC’s Business Opportunity Rule Is Here To Help

    The Federal Trade Commission (FTC)’s Business Opportunity Rule has been approved for changes that will ensure consumers have information needed when considering buying a “work-at-home” program or other similar business opportunities. Now simplified are the disclosures that...

    • Posted November 22, 2011
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  • Jade Capital & Investments Indicted In Alleged $37 Million Fraud

    Jade Capital & Investments and its owners Joon Park (aka Joon Pak / Joon Paik) and his brother Loren Young Park (aka Loren Young Park / Yong Park) have been indicted on charges in connection to a...

    • Posted November 18, 2011
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  • Fraudulent Treasury Strips Investment Program Results In $4 Million Investor Lost

    It was announced this week that Tyrone Gilliams, Jr., was indicted on charges of securities and wire fraud for operating a fraudulent United States Treasury Strips investment program. Treasury Strips are securities derived from United States Treasury...

    • Posted November 17, 2011
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  • Former President And Finance Director Of The Speculated US Posterscope Accused Of A $20 Million Accounting Fraud

    Earlier this month it was announced that the former president and finance director of one of the world’s largest outdoor advertising companies (speculated to be US Posterscope), have been accused of engaging in a five year long...

    • Posted November 17, 2011
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  • You Are Cordially Invited To The FTC’s Road Ahead Roundtable

    Today, the Federal Trade Commission will host the third in a series of roundtables around the country to gather information on consumers’ experiences in the leasing of motor vehicles at dealerships. The roundtable also will address what...

    • Posted November 17, 2011
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  • Hope Now Schemers Officially Out Of The Mortgage Business

    It’s official! The last remaining defendants in an allegedly fraudulent mortgage modification scheme called “Hope Now” have settled with the Federal Trade Commission (FTC) that will permanently ban them from the mortgage assistance and relief business. They...

    • Posted November 16, 2011
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  • Fraudulent Rescue / Equity Skim Scheme Costs Dozens Over $6.2 Million

    Between 2006 and 2008 real estate agent, Joanne Seeley, defrauded 34 homeowners and 14 mortgage companies in Pennsylvania out of more than $6.2 million in a fraudulent Foreclosure Rescue/Equity Skim scheme. Seeley was found guilty earlier this...

    • Posted November 16, 2011
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  • Couple Faces Serious Jail Time For Their $25 Million Nationwide Telemarketing Fraud Scam

    Kara Singleton Adams, from Georgia, was found guilty last week on charges of wire fraud, conspiracy, and structuring financial transactions, relating to a $25 million nationwide telemarketing fraud scheme. Already convicted in this scheme are three co-defendants...

    • Posted November 15, 2011
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  • If You’re Catering To Criminals, You’re Probably A Criminal

    I’ve never really thought or paid much mind to where a criminal would buy a car. Have you? I mean, think about it, you’d figure if someone was hiding from the police or the Internal Revenue Service...

    • Posted November 15, 2011
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  • What Makes A Scam WISE?

    In conjunction with a $15 million fraudulent investment scheme Duane Allen Eddings was found guilty of wire fraud, money laundering, bankruptcy fraud and tax evasion. Talk about a financial mess! According to court documents and evidence presented...

    • Posted November 15, 2011
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  • $78 Million Mortgage Fraud “Dream Home” Scheme Owner Convicted

    Andrew Hamilton Williams, Jr., was convicted last week in Maryland of fraud conspiracy, wire fraud and conspiracy to commit money laundering in connection to a massive mortgage fraud scheme. The scheme, entitled “Metro Dream Homes” promised to...

    • Posted November 14, 2011
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  • Ding-Dong The Grant Connect Is Dead! FTC Wins $29.8 Million

    Last month I wrote about the Federal Trade Commission (FTC) and their halting of the operation “Grant Connect” which was a program that deceived and mislead consumers about bogus products and services with unsubstantiated claims. The program...

    • Posted November 14, 2011
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  • Is Bank Of America Taking Advantage Of The Unemployed With Debit Card Fees?

    The state of South Carolina and Bank of America have teamed up together to administer unemployment benefits to South Carolina residents. Unemployment benefits used to come in the form of a check but are now being issued...

    • Posted November 10, 2011
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  • First Ever Central Florida Law Firm To Be Forced To Resign From BBB

    KEL law firm, formally Kaufman, Englett & Lynd, has been forced to resign from the Better Business Bureau (BBB) of Central Florida. The resignation of this Orlando based law firm marks “the first area law firm to...

    • Posted November 7, 2011
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  • Escorts.com To Pay $6.4 Million With Money Laundering Charges

    It was announced yesterday that the filing of a criminal information against corporations, R.S. Duffy and National A-1 Advertising, was issued charging them with money laundering and criminal forfeiture allegations including a plea agreement calling for the...

    • Posted November 4, 2011
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  • 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...

    • Posted November 3, 2011
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  • New Defendant Named In $105 Million Ponzi Scheme

    A pending federal case investigating a $105 million “ponzi” scheme has charged a new defendant in the case. Newly added defendant, Alfred Gerebizza, is alleged that he and co-defendant Daniel Spitzer engaged in a ponzi scheme that...

    • Posted November 2, 2011
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  • Second Annual Small Business Saturday Could Mean Deal For American Express Cardholders

    November hosts Small Business Saturday! Never heard of it? Me either. But apparently in honor of the day which is dedicated to small businesses on the busiest shopping weekend of the year the Better Business Bureau (BBB)...

    • Posted November 2, 2011
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  • 27 Year Old Charged With Wire Fraud

    Locust Offshore Management and Locus Offshore Fund operator Andrey Hicks was charged last week in a complaint with wire fraud at the ripe, young age of 27. The complaint alleges that since March 2011, Hicks has obtained...

    • Posted November 2, 2011
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  • New Jersey Fraudster Faces A Possible 1,100 Year Sentence

    After running an investment fraud scheme and causing at least $200 million in losses, Eliyahu Weinstein was indicted last week with 45 charges. Weinstein has been charged one one count of conspiracy to commit wire fraud, 29...

    • Posted November 1, 2011
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  • Bank Of America Backs Off $5 Debit Card Fees After Anti-Fee Petition Skyrockets

    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...

    • Posted October 31, 2011
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  • FTC Asks To Restrict Pay-For-Delay Deals To Lower Consumers’ Health Care Costs

    The Federal Trade Commission (FTC) has released a report of data pertaining to the 2011 fiscal year which showed that pharmaceutical companies continued an anticompetitive trend of paying potential generic rivals to delay the introduction of low-cost...

    • Posted October 25, 2011
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  • 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...

    • Posted October 19, 2011
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  • 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...

    • Posted October 19, 2011
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  • Free Government Grants, Diet Pills and Credit, Oh My!

    Looking for free government grants endorsed by President Obama and Vice President Biden? Dietary supplements supported by scientific research and endorsed by Oprah? How about exclusive credit offers? …Keep looking. The Federal Trade Commission (FTC) has halted...

    • Posted October 18, 2011
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  • 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...

    • Posted October 11, 2011
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  • 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...

    • Posted October 11, 2011
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  • 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...

    • Posted October 10, 2011
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  • “TeaseMePeter”: The Nigerian E-mail Scam Hits Dating Websites

    Scammers are some of the dumbest and smartest people in the world. They know where, when and how to find people when they’re down and vulnerable. They also keep up with the times; evolving at every change...

    • Posted October 10, 2011
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  • 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...

    • Posted October 10, 2011
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  • $4.2 Million For Free Internet Download Software?

    After a conviction last November following a seven-week trial David Moro was sentenced on October 5, 2011 to 10 and a half years (126 months) in prison for orchestrating and carrying out a $4.2 million broadcasting equipment...

    • Posted October 9, 2011
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  • $1 Million Investment Fraud Scheme Could Mean 25 Years In Jail

    On Thursday, October 7, 2011 Rober Schroy, of California, pleaded guilty to wire fraud and tax evasion for his role in a $1 million investment fraud scheme. Schroy pleaded guilty to one count of wire fraud and...

    • Posted October 8, 2011
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  • Deceitful Debt Relief And Mortgage Operation Shut Down

    A United State district court has shut down two related operations who apparently failed to provide promised debt relief services and jeopardized clients’ privacy by at the Federal Trade Commission (FTC)’s request. Apparently one firm charged consumers...

    • Posted October 7, 2011
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  • Alleged Obstruction Of Justice Of Attorney And Client In $188 Million Fraud

    At one point in time attorney, Fredrick Cuppy, represented the former owner and chief executive, Peter Rogan, of the bankrupt Edgewayer Hospital and Medical Center in Chicago. Cuppy has now been arrested on federal charges flaming that...

    • Posted October 7, 2011
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  • Union Hispana Defrauds Multiple Virginia Banks

    This just in! ANOTHER person thought it would be a GREAT and SUPER SMART idea to defraud a bank … and it WASN’T! When will people learn? Multiple Virginia banks were defrauded almost $3.4 million by Osvaldo...

    • Posted October 6, 2011
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  • 55 Indicted In Operation Stolen Treasures

    55 people have been indicted with connections to a large tax fraud scheme which involves hundreds of falsified income tax returns that sought over $250 million in refunds. This scheme has been deemed “Operation Stolen Treasures” and...

    • Posted October 6, 2011
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  • 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...

    • Posted October 5, 2011
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  • Are Unemployed Computer Programmers Hacking Your Bank Account?

    The term “white collar criminals” always sounded so fancy to me. You know? There’s something that just sounds glamourous about it. But fact of the matter is, there’s nothing glamorous about it – it’s just the same...

    • Posted October 5, 2011
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  • It’s Been A Year Since The TSR – What’s Changed With Debt Settlement?

    A year ago this month the Federal Trade Commission (FTC) barred debt settlement companies that used telemarketing from accepting up-front fees. Although it’s been an entire year since this change we are still see companies trying sneak...

    • Posted October 4, 2011
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