fraud

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Televangelists Stole $50M to Live Large: Lawsuit

Luxury jets, 13 mansions for Trinity Broadcasting founders

(Newser) - Apparently doing God's work pays divinely, or so says a lawsuit that accuses the founders of the world's largest Christian broadcasting company of defrauding the Trinity Broadcasting Network of some $50 million. The suit against founders Paul and Jan Crouch claims they treated themselves to 13 mansions, luxury...

Feds: AT&T Put Fraud on Government Tab

Service for the deaf was abused by Nigerian scammers

(Newser) - The Justice Department has accused AT&T of bilking the government out of more than $16 million by purposely allowing Nigerian fraudsters to abuse a service intended to help deaf Americans. AT&T says it's just following FCC rules requiring it to offer a free IP Relay service, which...

Army Recruiters May Have Pocketed Millions in Scam

1.7K recruiters suspected of abusing reward program

(Newser) - Pentagon fraud investigators believe large numbers of recruiters used the Army's efforts to boost its ranks to boost their own bank accounts. Internal documents show that more than 1,700 recruiters are suspected of defrauding an Army National Guard and Reserve program that paid $2,000 bounties to civilian...

Allen Stanford Found Guilty in $7B Ponzi Scheme

He could face more than 20 years in prison

(Newser) - Texas tycoon R. Allen Stanford, whose financial empire once spanned the Americas, was convicted today on all but one of the 14 counts he faced for allegedly bilking investors out of more than $7 billion in a massive Ponzi scheme he operated for 20 years. Jurors reached their verdicts against...

SEC Letting Big Banks Skirt Fraud Penalties
SEC Letting Big Banks
Skirt Fraud Penalties
NYT analysis
Feb 3, 2012 7:13 AM CST

SEC Letting Big Banks Skirt Fraud Penalties

'New York Times' analysis finds 350 instances of banks getting free passes

(Newser) - The Securities and Exchange Commission has repeatedly allowed Wall Street's biggest banks to avoid penalties specifically intended to punish and deter fraud, a New York Times analysis of SEC records reveals. Over the past decade, the SEC has on almost 350 occasions granted waivers exempting big financial companies from...

Google, Yahoo, 13 Others Declare War on Phishing

New set of standards could make email more trustworthy

(Newser) - A new anti-phishing effort, backed by the big email service providers as well as banks, PayPal, social networks, and other companies, could dramatically reduce the number of scam emails you get in your inbox. Google, Yahoo, Microsoft, and AOL are backing the new plan; 15 companies in total have come...

Fake Death Scam Surfaces in Cruise Ship Case

Ship sinks, can rats be far behind?

(Newser) - The first scam has emerged in an apparent bid for compensation from the operators of crippled cruise liner Costa Concordia. A woman and her boyfriend were arrested in Hungary after falsely reporting two people missing on the ship, according to officials. The scheme was spotted by a New York lawyer...

Feds Nab 7 in $61.8M Stock Fraud Case

All that money made on trades of a single stock

(Newser) - Seven people have been charged in an insider trading scheme that netted more than $61.8 million in illegal profits based on trades of a single stock, prosecutors announced today. Two New York hedge fund executives and a Massachusetts man were among four charged in a criminal complaint in federal...

Millions Siphoned From Medicaid by Fake Firms
Dummy Firms Squeeze Millions From Medicare
INVESTIGATION
Dec 22, 2011 4:42 AM CST

Dummy Firms Squeeze Millions From Medicare

Fraud-fighters finding it hard to stay ahead of shell companies

(Newser) - Fraudsters using complicated networks of ghost companies are sucking hundreds of millions of dollars out of Medicare every year and it's a bit like taking candy from a baby, a Reuters investigation finds. The probe—which officials say will likely lead to a criminal investigation of the firms involved—...

Gift Card Scam Warning Issued
 Gift Card Scam Warning Issued 
Dec 19, 2011 3:50 AM CST

Gift Card Scam Warning Issued

Fraudsters are recording activation codes, Schumer warns

(Newser) - People buying gift cards for friends and family this Christmas should make sure that the concealing measures haven't been removed, Chuck Schumer warns. The senator from New York says fraudsters have been visiting stores where the cards are on the shelves and recording access codes in order to drain...

Real-Life 'Rudy' Settles SEC Fraud Case for $383K

Daniel Ruettiger, 12 others accused of 'pump-and-dump' scheme

(Newser) - Daniel Ruettiger—the man who inspired the 1993 movie Rudy, about an undersized student who earned a spot on Notre Dame's football team—is paying a full-sized $382,866 to settle fraud charges with the SEC, reports the Wall Street Journal . Ruettiger and 12 accomplices were charged with a...

White House: We've Recovered $5.6B in Fraud

Cabinet secretaries to meet on wasteful spending

(Newser) - The Justice Department has managed to recover some $5.6 billion lost to fraud over the 2011 fiscal year, officials will announce today. Civil fraud accounted for some $3.4 billion, with the rest attributable to criminal fraud, insiders tell the Washington Post . Much of the money was recovered by...

Scientology Files Fraud Appeal in France

Church and leaders were convicted in 2009

(Newser) - The Church of Scientology opened an appeal today of a 2009 fraud conviction in France , reports the AP . The original case convicted Scientology's French branch, bookstore, and six leaders of fraud related to pressuring members into paying for expensive but questionable treatments, as well as harassing recruits. The church...

Beck's Favorite Gold Firm Charged With Fraud

Current and former CEO of Goldline face up to a year in jail

(Newser) - Remember Goldline, the gold dealer that Glenn Beck trusts ? Well, the company and several of its top executives—including both current CEO Scott Carter and former CEO Mark Albarian—have all been charged with fraud, the Santa Monica City Attorney’s office said yesterday. Goldline is accused of, among...

Long Island Rail Workers Charged With Faking Injuries

Scheme could cost federal pension agency more than $1B

(Newser) - The FBI charged 11 people yesterday in connection with a massive fraud scheme that saw hundreds of Long Island Rail Road workers allegedly fake disabling injuries so that they could retire early and collect their pensions. Among those arrested are two doctors who together approved cases handing $121 million to...

Uncle Sam Pays Dead People $120M a Year

Report: Office of Personnel Management does a bad job stopping fraud

(Newser) - The government has been paying retirement benefits for a whole lot of dead federal workers, according to a new report from the Office of Personnel Management’s inspector general. Over the past five years, the amount accidentally paid to the dearly departed has jumped a whopping 70%, with $601 million...

Feinstein Also Hit by 'Madoff of Campaign Treasurers'

Senator the highest profile victim yet for alleged fraudster Kinde Durkee

(Newser) - Dianne Feinstein's campaign was one of those ripped off by an allegedly fraudulent Democratic campaign treasurer, the senator tells the LA Times . Kinde Durkee was arrested on fraud charges two weeks ago, with California Reps. Loretta Sanchez and Susan Davis listed among her alleged victims; Davis dubbed her “...

Feds Nab 91 in $295M Medicare Fraud Sting

Accused 'treated' dead people, ran Florida housing scheme

(Newser) - The Obama administration notched yet another win for its Medicare fraud team yesterday, as the Justice Department announced the arrests of 91 fraudsters from across the country, accused of bilking Uncle Sam for a combined $295 million. “The defendants allegedly treated the Medicare program like a personal piggy bank,...

Kid, 17, Dupes Fla. Hospital, Snags ER Job

Police say Matthew Scheidt wore lab coat, examined patients, gave CPR

(Newser) - A 17-year-old boy has been arrested on charges of impersonating a physician's assistant and working in a Florida hospital's emergency room for a week, reports the Orlando Sentinel . Police say Matthew Scheidt dressed in a lab coats and surgical scrubs, conducted physical exams, and reportedly even gave CPR...

Feds Catching 85% More Health Care Fraudsters

This is shaping up to be a banner year

(Newser) - Health care fraud prosecutions have shot up this year, thanks to an Obama administration crackdown, according to new figures from a Syracuse University research team. Already the feds have prosecuted 903 people for fraud this year, which is 24% more than they nabbed in the entirety of 2010, and puts...

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