American Express told the SEC it expects an enforcement action — possibly civil money penalties — in relation to its anti-money-laundering programs. Here’s what that does and doesn’t mean if you carry an Amex card.
Quick Answer: Faith-based scams exploit religious beliefs to extract money and labor through spiritual manipulation and fear tactics. Federal prosecutors indicted David Taylor and Michelle Brannon for running Kingdom of God Global Church, where victims faced donation quotas, punishment, and demands to surrender government benefits while leaders lived luxuriously.Federal prosecutors have unsealed indictments that read …
Quick Answer: Insurance scam red flags include misrepresenting health information, applying for excessive coverage amounts, and agents who rush the process or avoid documentation. The Maureen Wilson case involved over 40 fraudulent policies worth $20 million in death benefits, resulting in potential 20-year prison sentences and higher premiums for all consumers.Imagine this: You’re sitting across …
Quick Answer: The Former Bishop Ponzi Scam is not legitimate – Julius C. Blackwelder, a former LDS bishop, was federally indicted on nine counts of money laundering and fraud for allegedly operating a Ponzi scheme through his “Friend’s Investment Group” since 2005, targeting congregation members.The Office of the Special Inspector General for the Troubled Asset …
Quick Answer: Gerald Lee Kelly faces a 25-count federal indictment for operating an investment fraud scheme through Cornerstone Financial Holdings, promising 18-25% returns while defrauding investors of approximately $855,000. The charges include wire fraud, mail fraud, money laundering, and structuring transactions to avoid federal reporting requirements.A federal grand jury in Pheonix returned a 25 count …
Quick Answer: Two New Jersey men, Abiatu Umah and Emmanuel Awa, pleaded guilty to wire fraud and money laundering after stealing over $1 million using fake UK passports and fraudulent business accounts. They face up to 30 years in prison and $1 million in fines for the wire fraud charges alone.Two New Jersey men have …
Quick Answer: This is not a review of a legitimate service, but rather a Department of Justice civil forfeiture complaint alleging Hizballah-linked institutions used U.S. car purchases to launder money. The scheme involved Lebanese Canadian Bank and two exchange houses funneling narcotics proceeds through used car sales in West Africa back to the designated terrorist …
Quick Answer: Janice Edwina Demmitt received a 70-month prison sentence for defrauding elderly insurance clients of approximately $600,000 through fake “matching funds” promises. She and her son operated the scheme from 2006-2009, convincing clients to liquidate legitimate Allianz annuities while depositing proceeds into personal accounts.Earlier this year Janice Edwina Demmitt was convicted of the federal …
Quick Answer: Car dealers catering to criminals face serious legal consequences, as demonstrated by Richard Alan Arledge who received over 15.5 years in prison for money laundering. Arledge intentionally sold luxury vehicles like Bentleys and Maseratis to customers involved in drug distribution, prostitution, and fraud through his dealership operations.I’ve never really thought or paid much …
Quick Answer: All six defendants in a federal mortgage fraud, arson, and drug trafficking case have entered guilty pleas in Michigan federal court. The scheme involved fraudulent mortgage applications for five properties between 2006-2009, with charges including bank fraud, arson, marijuana distribution conspiracy, and money laundering.So, A Fraudster, Arsonist And Drug Dealer Walk Into A …
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