fraud

Stories 661 - 680 | << Prev   Next >>

Israel to Judge: I Did Attempt Suicide

Painless or not, hedge-fund scammer couldn't off himself

(Newser) - A hedge-fund cheat who faked his death to try to dodge a 20-year prison sentence has told a judge that he did actually try to commit suicide this week. Samuel Israel appeared in Manhattan federal court today for a new charge that could get him an extra 10 years.

US Surfers Get Biggest Bite of Spam

McAfee experiment reveals how quickly e-junk proliferates and other fun stuff

(Newser) - Internet users in the US get the most spam, security-software firm McAfee finds after a study. McAfee gave 50 people across 10 developed countries laptops and instructed them to sign up for as much stuff on the internet as possible, and to reply to every spam message. The resulting volume...

High-Rolling Hathaway Ex Charged With Fraud

Raffaelo Follieri said to use Vatican in scam, which ensnared billionaire Burkle, others

(Newser) - Actress Anne Hathaway’s ex-boyfriend was charged today with defrauding investors of millions with a real-estate scheme in which Raffaello Follieri claimed intimate connections with the Vatican, the Smoking Gun reports. Billionaire Ron Burkle appears to be the "principal investor" scammed by Follieri, 29, who used Burkle’s money...

Medicare Fraud Runs Rampant
 Medicare Fraud Runs Rampant 
Jun 13, 2008 1:34 PM CDT

Medicare Fraud Runs Rampant

Most claims are filled automatically

(Newser) - Health care fraud is rampant, especially in South Florida and the LA area, and surprisingly easy to pull off, reports the Washington Post. The 11-digit annual price tag could be smaller if investigators focused more on the fact that Medicare, for example, is "highly vulnerable" to scam artists and...

With No Body, Cops Doubt NY Banker's Suicide

'He's dead as far as I can throw him,' skeptic says of fraudster

(Newser) - An international manhunt is now under way for a former hedge-fund manager who disappeared the day he was to begin serving a prison sentence for defrauding investors. A car belonging to Samuel Israel III was found Monday at a bridge over New York's Hudson River, the Wall Street Journal reports;...

Hedge Fund Fraud Missing; Suicide Possible

Car on NY bridge belonged to exec due yesterday in prison

(Newser) - Police aren't ruling out suicide as a New York hedge-fund manager due to begin serving a 20-year prison term yesterday remains missing, the Wall Street Journal reports. Police found Samuel Israel's car parked near a bridge over the Hudson, with “Suicide is painless” written in dust on the hood.

Surfers Beware: Danger Could Lurk at .hk, .cn

Those domains most likely to house ill intent, security study finds

(Newser) - A study by antivirus software firm McAfee warns Web surfers to be cautious of sites on certain domains, the AP reports, with corner-cutting registration companies often skipping security precautions. The domains .hk, .cn and .info were found to be riskiest.

Half of Philly ID-Theft Couple Pleads Guilty

Modern 'Bonnie and Clyde' stole $116K for trips and big buys

(Newser) - The male half of the couple labeled the Bonnie and Clyde of identity theft pleaded guilty yesterday to scams worth some $116,000, the Philadelphia Inquirer reports. Edward Anderton, 25, and his girlfriend, Jocelyn Kirsch, 22, used the money for big purchases and vacations. He faces 5 years in prison.

Boy-Band Brain Gets 25 Years for Fraud

Pearlman gets max for scamming investors, banks out of $300M

(Newser) - Lou Pearlman, the honcho behind the Backstreet Boys and 'N Sync, was sentenced yesterday to the maximum of 25 years in federal prison for masterminding a decades-long scam that bilked thousands of investors out of some $300 million, the AP reports. "The sympathy factor just doesn't run very high...

SEC Charges Ex-AOL Execs With Fraud
SEC Charges Ex-AOL Execs With Fraud
May 20, 2008 9:42 AM CDT

SEC Charges Ex-AOL Execs With Fraud

Alleges they inflated revenue during merger with Time Warner

(Newser) - The Securities & Exchange Commission has filed civil fraud charges against eight former AOL executives for allegedly inflating AOL's advertising revenues before its merger with Time Warner, the Wall Street Journal reports. The men are accused of giving firms money to buy ads on AOL that they didn't want or...

Woman Indicted in MySpace Suicide Case

Under fake persona, she teased girl who then killed herself

(Newser) - A Missouri woman has been indicted in the case of a teenage girl who killed herself after receiving cruel messages on MySpace, the AP reports. The woman, Lori Drew, is charged with pretending to be a teenage boy on the site and having a helper taunt the 13-year-old victim. Drew...

Man Tries to Cash $360B Check
 Man Tries to Cash $360B Check 
May 1, 2008 2:39 PM CDT

Man Tries to Cash $360B Check

21-year-old says girlfriend's mother gave him the money

(Newser) - A 21-year-old Texas man has been busted for attempting to deposit a $360 billion check, the Fort Worth Star-Telegram reports, stolen from his girlfriend's mother for, he claimed, the purpose of starting his own record label. Suspicious of the sum, the bank called the check’s owner. Arriving police found...

Schultz Sues to Keep Sonics in Seattle

Starbucks CEO offers email proof of new owner's duplicity

(Newser) - Howard Schultz filed a suit yesterday seeking to reverse the sale of the SuperSonics to Oklahoma-based investor Clay Bennett. The Starbucks CEO and former Sonics owner cites email evidence that Bennett's ultimate goal was always to bring a basketball team to his hometown. The lawsuit asks the court to void...

Navy Busts Marriage Fraud Ring
Navy Busts
Marriage
Fraud Ring
Apr 18, 2008 9:25 AM CDT

Navy Busts Marriage Fraud Ring

Dozens of sailors charged with wedding foreigners for profit

(Newser) - Dozens of US sailors and Eastern European women have been arrested for their part in a purported mass-marriage fraud ring, CNN reports. Sailors allegedly tied the knot with women they barely knew, netting the wives green cards and the sailors marriage benefits totaling roughly $500,000. “What we see...

Former Newark Mayor Guilty of Fraud
Former Newark Mayor Guilty
of Fraud
Apr 16, 2008 11:30 AM CDT

Former Newark Mayor Guilty of Fraud

Sharpe James sold cheap city land to his mistress

(Newser) - Sharpe James, who was the mayor of Newark, NJ, for two decades, has been convicted of fraud by a federal jury. James conspired to sell city lots on the cheap to his mistress, who then sold them for hundreds of thousands in profit, reports the Star-Ledger. James and the former...

Hedge Fund Fraud Gets 20 Years

Samuel Israel denied leniency in $400M investor 'ponzi scheme'

(Newser) - The founder of defunct hedge fund Bayou Group was given a 20-year prison term today for bilking investors out of more than $400 million, Bloomberg reports. Samuel Israel must also pay $300 million in restitution for masterminding a “ponzi scheme” in which investment returns were paid with new investors’...

Justice Makes Corporate Deals, Avoids Trials

'Deferred prosecutions' cheaper, but may tempt companies to cheat

(Newser) - Instead of indicting major corporations for fraud and other forms of malfeasance, the Bush administration is relying more and more on deferred prosecutions, allowing companies to pay a fine and accept monitoring instead of going to trial. The name of the monitor and the details of the agreement are often...

Massive Data Theft Breached 'Secure' Network
Massive Data Theft Breached 'Secure' Network
UPDATED
Mar 31, 2008 11:23 AM CDT

Massive Data Theft Breached 'Secure' Network

Hacked supermarket chain sent data over cable, not wireless

(Newser) - High-tech thieves were able to penetrate what experts called an especially secure computer network when they stole 4.2 million credit and debit card numbers from the Hannaford and Sweetbay grocery chains. Unlike stores that send data over wireless networks, the supermarkets used a theoretically less porous fiber-optic cable.

Japanese Swindle Could Cost Lehman $250M

Forged docs from Japanese firm secured big loans

(Newser) - Possible fraud involving forged documents from a Japanese trading firm may have cost Lehman Brothers $250 million, the Wall Street Journal reports. The investment bank loaned funds to a Japanese biotech firm last year; the transaction was secured by top trading company Marubeni Corp. But the biotech firm filed for...

LA Times Apologizes for Diddy-Tupac Story

Paper admits it was based on fake FBI documents from con man

(Newser) - The Los Angeles Times today admitted the paper was duped in its story alleging that Sean "Diddy" Combs was connected to the 1994 murder of fellow rapper Tupac Shakur. The reporter and editor responsible for the story apologized and said parts of it were based on FBI records that...

Stories 661 - 680 | << Prev   Next >>
Most Read on Newser