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  • Return-A-Pet Scam Preys On Victims Of Lost Pets

    It’s annual pet scammer week! That’s a lie. But it sure feels like it. Eric Stein was charged with running an investment scam through Return-A-Pet LLC. Return-A-Pet was a New York company that allegedly facilitated the return...

    • Posted January 27, 2012
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  • Ways to Save Money for Frugal Living While Having Fun and a Budget

    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...

    • Posted January 24, 2012
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  • Computer Programmer Charged With Stealing Software Code From Federal Reserve Bank

    A complaint unsealed last Wednesday in Manhattan federal court charged Bo Zhang, a computer programmer, with stealing proprietary software code from the Federal Reserve Bank of New York, where Zhang worked as a contract employee. Janice Fedarcyk,...

    • Posted January 23, 2012
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  • 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...

    • Posted January 16, 2012
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  • 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...

    • Posted January 13, 2012
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  • 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...

    • Posted January 12, 2012
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  • Romanian Citizen Busted For $1.5 Million Fraud Ring Of HSBC Customers

    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...

    • Posted January 10, 2012
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  • Your 2012 New Year’s Resolution: Don’t Get Scammed!

    History repeats itself. Fact. George Santayana once stated, “those who cannot remember the past are condemned to repeat it.” This fact holds true with every aspect of one’s life, especially in one’s financial life. And especially in...

    • Posted January 9, 2012
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  • 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...

    • Posted January 6, 2012
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  • Six Hundred Out Of $74 Million In Ponzi Scheme

    Douglas Vaughan faces 10 to 12 years in prison after pleading guilty to wire and mail fraud charges that involved his operation of a “Ponzi” scheme where he defrauded around 600 investors of more than $74 million....

    • Posted January 4, 2012
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  • Fraudster Deported Back To United States To Face $3.2 Million Fraud Charges

    This past New Year’s weekend Joseph Randall Medcalf was deported by Panama officials back to the United States after being charged with defrauding investors of $3.2 million. Medcalf fled the country back in 2008 after filing for...

    • Posted January 4, 2012
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  • 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...

    • Posted December 30, 2011
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  • 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...

    • Posted December 30, 2011
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  • Woman Sentenced For Stealing Identities Of Student Loan Borrowers

    Janika Fernae Bates, a resident of Alabama, was sentenced today in the Middle District of Alabama to 94 months in federal prison for stealing identities of student loan borrowers and providing them to a co-conspirator, who used...

    • Posted December 29, 2011
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  • Lebanese Financial Institutions Linked to Hizballah Allegedly Wired Over $300 Million Into The United States In Money Laundering Scheme

    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...

    • Posted December 29, 2011
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  • Absolute Poker Payment Processor Pleads Guilty To Fraud

    Brent Beckley, the director of payment processing for Absolute Poker, pled guilty this month in Manhattan federal court to conspiracy to engage in unlawful internet gambling and conspiracy to commit bank fraud and wire fraud, in connection...

    • Posted December 28, 2011
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  • 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...

    • Posted December 28, 2011
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  • Defendants In Payday Lending Case To Pay More Than $294,000 For Illegal Garnishment Of Consumers’ Paychecks

    Defendants in a payday lending case have been ordered to pay more than $294,000 for illegal garnishment of consumers’ paychecks. A federal court has ordered, at the request of the Federal Trade Commission (FTC), one of the...

    • Posted December 28, 2011
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  • Two More Charged In Rothstein Billion Dollar Fraud Scheme

    On the first of this month it was announced that two more Rothstein Associates were charged in connection with the billion dollar fraud scheme. Announced was the filing of charges against William Boockvor and Marybeth Feiss for...

    • Posted December 26, 2011
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  • Founder of Internet Consumer Electronics Company Sentenced For Fraud

    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...

    • Posted December 26, 2011
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  • The Best Way To Sucker A Timeshare Owner Into Something (Other Than A Timeshare) Is A Way OUT Of A Timeshare

    Another Florida based telemarketing scam has arose under the name Universal Marketing Solutions and Creative Vacation Solutions targeting owners of timeshares throughout the United States. Last week, Joel Intravaia, of Florida was sentenced to 60 months in...

    • Posted December 15, 2011
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  • To Catch A Financial Predator

    Yesterday it was announced in Illinois that Edward Lynn Moskop was sentenced to the maximum statutory penalties of 240 months in prison for mail fraud and 120 months for money laundering. This 360 month (30 year sentence)...

    • Posted December 14, 2011
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  • McDonald’s Manager Selling Stolen US Citizen Identities To Employees

    A former manager of a McDonald’s restaurant in Savannah, Georgia was sentenced last month to 32 months in prison for her role in a scheme to sell the stolen identities of United States citizens to employees within...

    • Posted December 5, 2011
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  • Nearly 1,000 Investors Across The World Defrauded Out Of $294 Million

    Former managing director of a hedge fund (that was forced into receivership by U.S. government regulations), Philip Baker, was sentenced this month to 20 years in prison for fraudulently soliciting and obtaining around $294 million from around...

    • Posted December 1, 2011
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  • Rome Wasn’t Counterfeited In A Day

    At the ripe young age of 25 Atlanta Georgia’s Vincent Gerome Rome Jr., pleaded guilty to manufacturing counterfeit $100 bills along with being a felon in a charge of a possession of a firearm. Over an approximately...

    • Posted December 1, 2011
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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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  • 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...

    • Posted November 28, 2011
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  • Vanguard Settles With $2 Million In False Claims Act

    It was announced last week that the United States and the State of Tennessee will be receiving $2 million in a settlement of False Claims Act allegations from Vanguard and its wholly owned subsidiary, Vanguard Health Care...

    • 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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  • 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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  • So, A Fraudster, Arsonist And Drug Dealer Walk Into A Bar…

    So, A Fraudster, Arsonist And Drug Dealer Walk Into A Bar… OUCH. The last of the six defendants in an indictment charging mortgage fraud, arson, marijuana trafficking and money laundering has entered a guilty plea in federal...

    • Posted November 15, 2011
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  • Home Repair Scheme Targeted Elderly Homeowners

    Last week a jury convicted two brothers in Chicago after running and operating a home-repair scheme that targeted elderly victims on the south and west sides of Chicago. At their trial six victims testified that they were...

    • Posted November 15, 2011
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  • FTC Gives APEC Cross-Border Privacy Rules Thumbs Up For Consumer Information Protection

    Yesterday, President Obama and representatives from other Asia-Pacific Economic Cooperation (APEC) economies met to discuss consumer cross-border data privacy protection at a meeting in Honolulu, Hawaii. The meeting focused on the APEC Cross-Border Privacy Rules, a new...

    • Posted November 14, 2011
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  • Two Of America’s “Most Wanted” Sentenced

    Two of America’s “Most Wanted” health care fraud fugitives were sentenced in Florida last week. Two sisters, Caridad Guilarte and Clara Guilarte, owned a fraudulent medical clinic near Detroit that lead to a $9.1 million Medicare fraud...

    • Posted November 9, 2011
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  • FTC Settles Charges Against Children’s Social Media Network After Collecting Personal Information Without Parental Consent

    The operator of SkidEKids.com has settled charges from the Federal Trade Commission (FTC) after collecting children’s information without parental consent. The website, SkidEKids.com, has been marketed and advertised as a website similar to Facebook or Myspace but...

    • Posted November 8, 2011
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  • Defendants Lose The Weight Of Their Assets In “Hoodia” Weight Loss Case

    In April of 2009 the Federal Trade Commission (FTC) charged makers of a “Hoodia” weight loss supplement with deceptive advertising. The companies, Nutraceuticals International, Stella Labs and key company players and controllers David Romeo, Deborah Vickery, Craig...

    • Posted November 5, 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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  • Two Liberian Nationals Arrested In Black Money Scheme

    Two Liberian nationals have been arrested on criminal complaints charging them after allegedly defrauding a man out of $100,000 in a “black money” scheme. According to Affidavits in support of the Criminal Complaints, it is alleged that...

    • 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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  • 135 Month Sentence For $45 Million Medicare Fraud

    Houston, Texas doctor, Christina Joy Clardy, was sentenced to just over 11 years (135 months) in federal prison for a monumental health care fraud conspiracy the resulted in Medicare and Texas Medicaid programs to be billed $45,039,230...

    • Posted November 2, 2011
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  • Black Market Organ Sales Poses Threat Towards Public Health

    Last Thursday, Levy Izhak Rosenbaum (Isaac Rosenbaum), an Isralei citizen living in New York, admitted to brokering three illegal kidney transplants for payments of more than $120,000. He has been charged with three counts of acquiring, receiving...

    • Posted October 31, 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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  • All Aboard The Fraud Express! $1 Billion Ticket To Ride!

    There’s not many fraud stories that cross my desk now that make me drop my jaw. I mean, really, a scam is a scam is a scam. But this doozy, oh this one has me sitting here...

    • Posted October 28, 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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  • Economic Birth Control : Steady Decline In Births Since Start Of Recession

    A new study out by The Pew Research Center shows a correlation between a decline in the economy and birth rates. Apparently since 2008 there has been a sharp decline in not only our economy but also...

    • Posted October 25, 2011
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  • Former Employee Defrauds United Nations

    Jeffery Armstrong was found guilty on nine counts of wire fraud in over $100,000 of salary payments by holding concurrent jobs at both the National Labor Relations Boards (NLRB) and the United Nations (UN). Back in June...

    • Posted October 24, 2011
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  • True Cradle Robbers – Stealing Credit From The Cradle

    It’s often not a parent’s first thought to check the credit report of their minor child, however, it may now become a necessity. Not because a child may fraudulently be using credit without their parents’ knowledge but...

    • Posted October 17, 2011
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  • Food Stamp Fraud Results In 5 Years Of Prison

    Talib Kadhim of Connecticut, has been sentenced to 15 months of prison and three years of supervised release for one count of food stamp fraud for defrauding the Food Stamp Program out of $94,049.59. Apparently, from January...

    • Posted October 17, 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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  • 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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