The Securities and Exchange Commission (SEC) has pressed charges against a former state senator for his role in a $4.3 million token sale that promised outlandishly high returns. The SEC confirmed Friday it had filed a complaint against David Schmidt, a former Republican state senator for Washington State, as well as two other people, for their role promoting the sale of “Meta 1 Coins.” Filed in […]
Fraud
16 posts
22 year old FX trader Kevin Perry has pleaded guilty to defrauding his investors in an FX scam that started when he was just a teenager. A release from the U.S. Attorney’s Office in the Northern District of Georgia on Friday said that “Perry led investors to believe that his investment company, Lucrative Pips, was successfully earning substantial profits by investing in the foreign currency (or […]
Cryptocurrency scams in 2019 were more risky for U.S. residents than fraud involving romance or payments. That’s the conclusion of a report released last week by the Better Business Bureau (BBB), a nonprofit organization focused on marketplace trust. The report found an average dollar loss in crypto-focused fraud of $3,000 for victims aged between 25 and 44. The relatively high figure was the result of nefarious […]
Is The U.S. Fracking Boom Based On Fraud? By Justin Mikulka, Desmogblog.com March 9, 2020 Is The U.S. Fracking Boom Based On Fraud?2020-03-092020-03-09https://popularresistance-uploads.s3.amazonaws.com/uploads/2017/12/popres-shorter.pngPopularResistance.Orghttps://popularresistance-uploads.s3.amazonaws.com/uploads/2020/03/47308963841_4087f8fb96_k.jpg200px200px Above Photo: From Desmogblog.com In a 2016 interview with Fraud Magazine, former Enron CFO Andrew Fastow explained what he thought made him so successful while at the former energy corporation that’s now infamous for financial scandal. “I think my ability to do structured financing, to finance […]
A 59-year-old Maryland man who served as the Acting Inspector General for the U.S. Department of Homeland Security (DHS) between the 2011 and 2013 years of Barack Obama’s presidency has been indicted for alleged theft and fraud. The Department of Justice announced the charges against Charles K. Edwards and 54-year-old Virginia resident Murali Yamazula Venkata on Friday. The defendants are each accused of wire fraud, conspiracy […]
The US Department of Justice has unsealed the indictment against Oleg Tinkov, accusing the Russian-born businessman of failing to pay taxes after renouncing his US citizenship and threatening him with six years behind bars. Tinkov, 52, was detained and released on bail in London earlier this week, pending an extradition hearing. On Thursday, the US Department of Justice unsealed the indictment against him, dated September 26, […]
Sweden’s foreign minister has called for Ukraine to act following the exposing of an alleged cryptocurrency fraud operation duping naive investors from the country’s capital. The so-called “fraud factory,” working from two floors of plush offices in Kyiv, was exposed after an investigation by Swedish daily Dagens Nyheter (DN) published Monday. Called Milton Group, the firm was revealed to have employed ranks of telemarketers cold-calling potential […]
Russian businessman Oleg Tinkov has posted bail in London and will remain in the UK for court hearings on allegations of underreporting his income. The US Internal Revenue Service is reportedly seeking his extradition. “The hearings are taking place in London in February-April 2020. The case concerns resolution of potential tax issues,” the parent company of the Tinkov-owned Tinkoff Bank said in a statement released on […]
Kathleen Schroll came home from work on the evening of April 6, 2008, and got changed in the living room of her Kansas City home. The 45-year-old bank clerk left the clothes she’d worn that day in a pile on the floor beside a computer table and put on brand new nursing scrubs. Later, at 2:21 a.m., she called her mom. “Peter is here in the […]
Days after Wells Fargo agreed to pay $35 million to settle regulatory claims that its financial advisors pushed clients into risky exchange-traded funds, three former Barclays executives were acquitted of fraud by a London jury after they were accused of paying secret “fees” to Qatar in return for emergency funding during the financial crisis, reported Reuters. In exchange for rescue financing to avoid nationalization of the bank (which would’ve […]
A new MIT study has found no evidence of fraud in Bolivia’s 2019 election, despite allegations of serious irregularities by the Organization of American States (OAS), which led to the ousting of Evo Morales in a military coup. John Curiel and Jack R Williams examined the OAS’s report and published their findings in the Washington Post on Thursday. “As specialists in election integrity, we find that […]
One frigid morning in February 2018, Larry Isenberg and his wife, Lori, woke up before dawn to watch the sunrise from their boat on the picturesque Lake Coeur d’Alene in northern Idaho. But as the couple guided their boat along Sun Up Bay, their motor stalled, prompting Larry Isenberg to give it a look. Then, the unthinkable happened: the longtime forester fell overboard—just out of reach […]
Reginald Fowler, an alleged operator behind payment processor Crypto Capital, was charged with wire fraud Friday, on top of existing charges of bank fraud, operation of an unlicensed money transmission business and conspiracy. According to an indictment filed Friday, Fowler allegedly created a scheme to obtain money “by means of false and fraudulent pretenses” and directed the funds to a professional sports league. While the indictment […]
Steve Chen, the ringleader behind the $100 million-plus Gemcoin fraud of 2013-2015, agreed to plead guilty Wednesday to tax evasion and conspiracy to commit wire fraud. The 62-year-old resident of Southern California will face a minimum of 10 years in prison, according to the Department of Justice (DOJ). As part of his plea agreement, Chen admitted to running and promoting U.S. Fine Investment Arts (USFIA), an […]
The U.S. Commodity Futures Trading Commission (CFTC) is suing an alleged Ponzi scammer on claims he and his company raised half a million dollars for cryptocurrency investments, which instead went to personal uses. According to a press release, Breonna Clark, otherwise known as Eliot Clark or Alexander Pak, and his firm Venture Capital Investments Ltd. and The Life Group allegedly raised $534,829 from 72 victims, promising […]
The Fraud Machine At Work In Bolivia By Carlos Fazio, La Jornada, translation Resumen Latinoamericano, North America bureau February 13, 2020 The Fraud Machine At Work In Bolivia2020-02-132020-02-13https://popularresistance-uploads.s3.amazonaws.com/uploads/2017/12/popres-shorter.pngPopularResistance.Orghttps://popularresistance-uploads.s3.amazonaws.com/uploads/2020/02/2-12-bolivia.jpg200px200px Above Photo: La Jornada, translation Resumen Latinoamericano, North America bureau The counter-revolution in Bolivia is advancing under the parameters of a U.S.-made hybrid war and with the blessings of the conservative hierarchy of the local Catholic Church. In its […]