The politically connected former CEO of a prominent New York City charity has admitted he helped steal $5 million in an insurance scheme.» Read More
Online fraud cases in the US cost victims more than twice as much in 2009 as they did the previous year, underscoring fears that internet crime is growing out of control.
It is sport among black belt sushi eaters here to see just how daring one’s palate can be. But even among the squid-chomping, roe-eating and uni-nibbling fans, whale is almost unheard of on the plate. It also happens to be illegal.
An official with the New Orleans Police Department said Sequent Energy Management President Douglas Schantz's disappearance may be linked to foul play, Dow Jones reported on Monday.
He calls himself “America’s Prophet,” a psychic, trained by Nepalese monks in the art of time travel, who can foretell the future of the stock market. But to the authorities, Sean David Morton is simply a fraud — and a really, really bad psychic.
My CNBC colleague Mary Thompson recently interviewed Harry Markopolos who for nearly ten years; tried, and failed, to alert regulators and investors of Bernie Madoff's $65 billion dollar Ponzi scheme.
Prosecutors say SK Foods not only paid off buyers in exchange for contracts but also hid problems like mold.
Congress could have passed a more sweeping jobs bill with larger bipartisan support if Democrats had been more willing to work with Republicans, Sen. Charles Grassley told CNBC.
The court-appointed receiver who is tracking down the billions of dollars missing in the alleged Ponzi scheme has filed suit against the major parties' congressional campaign committee seeking the return of $1.6 million in contributions they received from company founder Allen Stanford and his top lieutenants.
House Ways and Means Committee Chairman Charles Rangel says he can't turn over political contributions linked to indicted billionaire Allen Stanford, because the money has already been donated to charity.
The Securities and Exchange Commission's case against accused fraudster Allen Stanford should be dismissed, according to his attorneys, in part because the certificates of deposit at the heart of the alleged scheme were not securities.
A wealthy investor in Virginia pleaded guilty on Tuesday to criminal tax evasion involving an international bank, said by a person briefed on the case to be HSBC, one of the world’s largest private banks.
A former Merrill Lynch broker in Manhattan has been arrested and charged with 11 counts related to his alleged theft of $780,000 from the company, some of which was used to buy a Ferrari, Manhattan District Attorney Cyrus Vance said Tuesday.
One year after the Securities and Exchange Commission accused Texas billionaire Allen Stanford of running a massive fraud through his offshore bank in Antigua, a group of Stanford investors is suing the region's central bank, calling it Stanford's "partner in crime."
An ex-Goldman Sachs programmer was charged on Thursday for stealing propriety computer codes used to support his former employer's high-frequency trading system.
With criminals growing increasingly sophisticated and organized, identity fraud is once again on the rise, according to a survey released by Javelin Strategy & Research.
A federal grand jury in New York has returned a new indictment against hedge fund mogul Raj Rajaratnam and former consultant Danielle Chiesi, sharply raising the stakes in what authorities had already called the largest hedge fund insider trading case in history.
Since arriving at the S.E.C. a year ago this month, just as the Madoff scandal was grabbing headlines, Mr. Khuzami has cut red tape, created specialized teams to plumb hedge funds and other worrisome areas and tried to make the S.E.C. quicker and more nimble.
Here we go again. The German government said this week it's going to buy a stolen CD which apparantly contains the names of 1,500 Germans with secret bank accounts in Switzerland.
The New York Attorney General's office is filing civil charges against Bank of America and its former CEO Ken Lewis, saying the bank misled investors about Merrill Lynch when it acquired the Wall Street bank in late 2008.
A suitcase containing $1 million in shrink-wrapped bills, hand-carried into New York by the former president of Gabon for his daughter to buy a Manhattan apartment. Purchases of a stretch Hummer H2 armored limousine and C-130 Hercules military transport planes for a civil war in Angola. And a shell company named Sweet Pink used to funnel millions of dollars into the United States from Equatorial Guinea.
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"$UDDEN DEATH"/ "HIP HOP HUSTLE" - NCAA basketball coaches are among the victims who get financially slam dunked in a $39 million scam out of Houston. And a wannabe rap star claims he's working with a famous Hollywood star to collect money to produce a movie about his 'gangsta' life. But there is no movie only hip-hop star livin'.
With investigators eager to confirm that Joel Salinas is running a $39 million investment fraud, he runs out of options and sets off on a final escape.
The $1.5 million raised to produce a movie was a scam. Instead Eric Jagclicic spent investor money on fancy cars, exotic pets, and more.