fraud

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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...

Ruth Madoff Dumping Bernie
 Ruth Madoff Dumping Bernie 
Aug 15, 2011 4:37 AM CDT

Ruth Madoff Dumping Bernie

She finally cuts it off after 52 years to reconcile with surviving son

(Newser) - After 52 years of marriage, Bernard Madoff's wife is finally calling it quits. Ruth Madoff, 70, hasn't seen her 73-year-old hubby for more than 8 months, reports the Daily Mail. She's cutting ties with Madoff in an effort to reconcile with her remaining son, Andrew, and her...

Feds Go After '1 Tip' Diet Ads

US sues creators of inescapable online ads

(Newser) - You’re probably sick of them by now: those ads that promise “1 Tip for a Tiny Belly” next to a drawing of a shrinking stomach. Don’t believe it, the government says: In different lawsuits, federal officials are pursuing those behind the ads, calling them a giant fraud,...

PTA Moms Busted in $14M Ponzi Scheme

LA County women scammed other parents out of life savings

(Newser) - Look out, Bernie Madoff: A trio of mothers in a well-to-do suburb of Los Angeles have been charged with scamming other parents out of millions. Police say the women, all members of an elementary school PTA, ran a $14 million Ponzi scheme by simply winning the trust of victims at...

Ex-Citigroup VP Charged With Embezzling $19.2M

He allegedly stole more than $19M

(Newser) - Former Citigroup vice president Gary Foster has been charged with embezzling more than $19 million from the company. Foster, 35, was nabbed yesterday at JFK airport in New York, after arriving on a flight from Bangkok, Reuters reports. Prosecutors say that between May 2009 and December 2010, Foster funneled the...

Judge: Not Bank's Fault Hackers Stole $300K From Bank Account
Not Bank's Fault Hackers Stole $300K From Account
says judge
Jun 8, 2011 9:12 AM CDT

Not Bank's Fault Hackers Stole $300K From Account

Customer should have done more to protect itself, judge rules

(Newser) - Hackers were able to steal more than $300,000 from a client’s Ocean Bank account, but according to a Maine judge’s ruling, the bank is not responsible. Though the judge acknowledged the bank didn’t follow “best” security practices, he ultimately ruled the customer should have done...

Lenny Dykstra Slapped With Fraud, Theft, Drug Charges

Other than 23 felony charges, just a regular day for ex-ballplayer

(Newser) - During his baseball career, Lenny Dykstra was known for his penchant for getting dirty, and now he's really having trouble staying clean. The former Mets and Phillies player was charged today with nearly two dozen felony counts of fraud, grand theft, and drug possession, reports the Los Angeles Times ...

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