Fraud Headlines

2020 Articles

March 

Major Tech Platforms Say They’re ‘Jointly Combating Fraud and Misinformation’ About COVID-19 

A group of the biggest technology companies in the US say they have banded together in a commitment to fight coronavirus-related fraud and misinformation. The group includes Facebook, Google, LinkedIn, Microsoft, Reddit, Twitter, and YouTube.

Why Friendly Fraud Is on the Rise at Full-Service Restaurants 

“Friendly fraud” as it’s called, occurs when a cardholder disputes legitimate charges with their credit card provider, forcing a refund under the false pretense that the merchant made an error. (Modern Restaurant Management)

Coronavirus Fraud: U.K. Victims Lose 800,000 Pounds in Scams 

Victims in the United Kingdom have lost more than 800,000 pounds ($1 million) to coronavirus-linked scams since last month, with criminals tricking fearful people who wanted to buy protective masks, police said on Friday. (Reuters)

Banks Accuse Singapore Commodity Trader Agritrade of "Massive" Fraud 

At least 20 banks facing losses running into hundreds of millions of dollars from the collapse of Singapore-based Agritrade International Pte Ltd (AIPL) have accused the commodity trader of fraud, court documents show. (NASDAQ)

Department of Justice Charges Record High Number of Elder Fraud Cases 

Attorney General William P. Barr was joined by U.S. Attorney Billy J. Williams, FBI Director Christopher A. Wray and Chief Postal Inspector Gary R. Barksdale Tuesday, March 3 to announce its largest coordinated sweep of elder fraud cases in history as prosecutors this year have charged more than 400 defendants. (The World)

Sweden Calls for Action Over Ukraine Crypto ‘Fraud Factory’ 

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. (CoinDesk)

Former Jet Airways Director Accused Of Fraud Amounting To $7 Million 

The former owner of Jet Airways and his wife have been accused defrauding Mumbai-based travel agency Akbar Travels for a total of 500 million rupees ($6.9 million). (Simple Flying)

Former Barclays bosses cleared of fraud 

A jury took less than six hours on Friday to clear three former Barclays bosses of fraud charges surrounding deals made with Qatar during the global financial crisis. (Al Jazeera)

February 

Jury: Former Microsoft Engineer Stole $10 Million in Digital Fraud Scheme 

A former Microsoft software engineer was convicted Tuesday of 18 federal felonies related to his scheme to defraud Microsoft of more than $10 million, said U.S. Attorney Brian T. Moran. (KOMO News)

Mexico Investigating Ex-President Pena Nieto for Fraud: Report 

Pena Nieto has become embroiled in the investigation of Emilio Lozoya, the former chief executive of Mexico's state oil firm Petroleos Mexicanos, or Pemex. (Al Jazeera)

City Workers Reporting More Instances Of Fraud, Abuse And Waste 

More than 33,000 L.A. city workers got some new training in the past year about how to report fraud, waste and abuse — and it seems to have worked. Complaints to an internal hotline jumped by 58%. (LAist)

Puerto Rico Falls Prey To $4M Online Fraud 

An online scam targeted $4 million in retirement funds from at least four Puerto Rico agencies, according to reports on Thursday (Feb. 14). (PYMNTS)

DOJ Indictment Alleges Huawei Fraud, Trade Secrets Theft 

The charges, which Huawei strongly denied, included allegations that Huawei stole intellectual property from six unnamed U.S. tech firms and defrauded four international banks as the company violated U.S. sanctions against Iran and North Korea. (Compliance Week)

Feds: Ex-Mobster Used Toby Keith and Rascal Flatts Restaurants in Nationwide Fraud Scheme 

Capri enlisted his mother and other associates to funnel money meant to pay for restaurant construction at malls into their own accounts, according to indictments made public on Thursday. (USA Today)

Mississippi's Ex-Welfare Director, 5 Others Arrested Over 'Massive' Fraud 

Mississippi's former welfare director, four colleagues and a former pro wrestler have been charged with carrying out a multimillion-dollar embezzlement scheme to siphon public money from needy families for their own personal use — from business investments to a luxury rehab stay in California. (NPR)

New Trier Grad Pleads Guilty to $10 Million Fraud to Finance Gambling and Lavish Las Vegas Lifestyle 

Gorodetsky, who once touted himself as the next big thing in sports gambling, pleaded guilty to stunning federal fraud charges alleging he stole nearly $10 million in a fraud scheme and blew it on outrageous bets and a high-end Las Vegas lifestyle. (Chicago Tribune)

Prosecutors: Owner of Shuttered Organic Dairy Ran $60M Fraud 

Philip Riehl, the majority owner of Trickling Springs Creamery, ran a long-running fraud scheme that preyed on hundreds of Amish and Mennonite investors, according to federal prosecutors. (Magic Valley)

January 

Fraud at Airbus: US, European Courts Weigh $4 bln Settlement 

Courts in Britain, France and the U.S. are considering Friday whether to accept a settlement that could cost Airbus up to $4 billion and end years of corruption investigations. (Associated Press)

Lawyer: Businessman was Used by Polygamists in Fraud Scheme 

A California businessman accused of leading a nearly $500 million biodiesel fraud scheme was actually being used by a Utah polygamist who didn’t want to share the proceeds with his community, a defense attorney said Thursday. (Seattle Times)

Credit Suisse Ignored Warning on $2 Billion Deal With Tycoon 

Credit Suisse Group AG ignored warnings from its outgoing regional chief executive officer on the risks of lending $2 billion to Mozambique in a scandal that has landed the Swiss bank in a lawsuit and opened up questions about its due diligence. (Bloomberg)

Solar Firm Owners Charged With ‘Massive’ Fraud 

A California couple have been charged with orchestrating a “massive” Ponzi scheme that collected nearly $1 billion from investors in their solar company. (CFO)

Isabel dos Santos: Africa's Richest Woman Accused of Fraud 

Africa's richest woman, Isabel dos Santos, has been accused of embezzlement and money laundering by prosecutors in Angola. (BBC)

‘The Wolf of Wall Street’ Told the Story of His Fraud. Now He’s Suing for Fraud 

Belfort is suing Red Granite Pictures, which bankrolled the 2013 epic, in Los Angeles Superior Court, saying he has been damaged by the Malaysian financial scandal that engulfed the company in 2017. (Los Angeles Times)

Dentist Who Pulled Teeth While Riding Hoverboard Convicted of Fraud 

Seth Lookhart was convicted Friday of 46 counts, including felony medical assistance fraud and scheming to defraud, and misdemeanor counts of illegally practicing dentistry and reckless endangerment, prosecutors said. (USA Today)

Man Charged With $1.5 Million Fraud For Allegedly Filing False Damage Claims On Items Shipped Through USPS 

Miami resident Edwin Jim Garcia-Albarracin, 45, allegedly filed fraudulent claims for "purportedly damaged packages" sold through his online business, Rambos Market, stating that they were damaged when they were shipped through the U.S. Postal Service, according to a federal indictment filed in the Southern District of Florida earlier this month. (ABC)

'Heinous' Texas Doctor Who Falsely Diagnosed Patients to Commit $325M in Fraud is Found Guilty 

A Texas doctor who falsely diagnosed patients with lifelong illnesses and needlessly subjected some to chemotherapy drugs as part of a $325 million healthcare fraud case was convicted by a jury Wednesday. (Fierce Healthcare)

Lekoil Shares Plunge As Company Launches Loan Scam Investigation 

Shares in Nigerian oil company Lekoil Ltd plunged more than 70% on Tuesday following a suspension of trading after the firm discovered that a $184 million loan it had announced was fraudulent. (Reuters)

Feds Amassed $2.6 billion From 2019 Healthcare Fraud Cases 

The department's recoveries from healthcare fraud cases have inched higher in recent years from roughly $2.5 billion in 2018 and $2.1 billion in 2017. (Modern Healthcare)

New York Wealth Manager to Plead Guilty in ‘Wild’ Spending Case of Fraud 

Prosecutors in Manhattan said he misused his position as manager of the firm’s payroll and billing to divert about $6 million to his own account. (Bloomberg)

Back to top