fraud – News Stories About fraud - Page 35

Story Linking Diddy to Tupac Shooting a Hoax

Mar 26, 2008 2:13 PM CDT

Story Linking Diddy to Tupac Shooting a Hoax

'FBI reports' lead back to longtime con man, says Smoking Gun

(Newser) - The Los Angeles Times was duped into reporting that associates of Sean “Diddy” Combs were involved in the 1994 shooting of rapper Tupac Shakur, the Smoking Gun reports. The paper based last week's story on FBI reports fabricated by a long-time con man who has long sought to insinuate...

Supermarket Breach Exposes 4M Credit Cards

Mar 18, 2008 9:20 AM CDT

Supermarket Breach Exposes 4M Credit Cards

Hannaford grocery stores report 1,800 related fraud cases

(Newser) - A data security breach at Hannaford, an East Coast supermarket chain, has exposed the credit card information of 4.2 million customers and resulted in 1,800 cases of fraud so far, the Boston Globe reports. The breach, which went undetected for three months, is one of the largest ever,...

$1M Embezzled From GOP

Mar 14, 2008 7:07 AM CDT

$1M Embezzled From GOP

Former committee treasurer under scrutiny

(Newser) - One of the Republican Party's former top bureaucrats is suspected of embezzling up to $1 million from the party's campaign coffers, reports the Washington Post. The former National Republican Congressional Committee treasurer allegedly diverted money into his personal accounts for four years. The news is a tough hit for congressional...

Coming Soon
to Your
Cell: Spam

Mar 10, 2008 2:25 PM CDT

Coming Soon to Your Cell: Spam

Users pay for unwanted text messages; 'smishers' fish for info

(Newser) - To the dismay of customers and cellphone providers, spammers and even phishers have gone mobile. Researchers predict US consumers will get a record 1.5 billion spam text messages this year, while “smishing” texts try to con recipients into giving up sensitive financial information, reports the Washington Post. Most...

Swindler Black Ordered to Jail

Feb 29, 2008 4:00 AM CST

Swindler Black Ordered to Jail

Court rules tycoon must spend appeal process in prison

(Newser) - Former media tycoon Conrad Black, convicted of swindling millions from his newspaper empire, will be behind bars by Monday night, reports the Chicago Sun-Tribune. A Chicago court ruled that he couldn't remain free on bail while awaiting a decision on his appeal. Black has been sentenced to six-and-a-half years in...

Jury Convicts Ex-Insurance Execs in Fraud

Feb 26, 2008 9:48 AM CST

Jury Convicts Ex-Insurance Execs in Fraud

Five General Re and AIG officials face jail over scheme to deceive investors

(Newser) - A federal jury yesterday convicted five former insurance executives of fraud, conspiracy, and making false statements to the Securities and Exchange Commission as part of a scheme to deceive investors, Bloomberg reports. The convictions stem from a sham transaction in 2000 between General Reinsurance Corp. and American International Group that...

System Vulnerable to 'Genius' Rogue Traders

Jan 30, 2008 6:55 PM CST

System Vulnerable to 'Genius' Rogue Traders

Criminal financial wizards can run amok, experts warn

(Newser) - Banks hoping to weed out potential rogue traders need to realize that they can strike anywhere, any time—and that their best traders could be the likeliest suspects, Reuters warns. "All of the things that make a great trader make a great fraudster, too," noted a consultant. Experts...

Bank Was Warned About Rogue Trader

Jan 29, 2008 3:19 AM CST

Bank Was Warned About Rogue Trader

Prosecutor says Kerviel was after a big bonus with mammoth trades

(Newser) - The Eurex stock exchange alerted Société Générale to positions held by Jérôme Kerviel months before the bank discovered his staggering $7 billion fraud, the Independent reports. Kerviel produced fake documents to justify his actions to the bank and was motivated by a drive to impress...

SocGen Trader Charged,
Faces 7 Years

Jan 28, 2008 9:08 AM CST

SocGen Trader Charged, Faces 7 Years

Kerviel didn't siphon off a cent, wanted to be 'a stand-out trader'

(Newser) - Jérôme Kerviel, the rogue trader who cost France's third-largest bank over $7 billion, was charged with attempted fraud by French authorities today, Bloomberg reports. Abuse of trust, the most serious of four charges, carries a potential 7-year sentence and $1.5-million fine. Police want him kept in custody,...

Feds Raid Calif. Museums, Gallery in Stolen Art Case

Jan 25, 2008 10:38 AM CST

Feds Raid Calif. Museums, Gallery in Stolen Art Case

Illegal artifacts donated for inflated tax deductions

(Newser) - Federal agents raided four California museums and a private gallery in a smuggling investigation into stolen foreign antiquities, reports the New York Times. The gallery allegedly imported looted goods from Thailand, Myanmar, and China, and individuals got inflated tax write-offs for donating them to museums. No charges have yet been...

Ex-Brocade CEO Gets
21 Months for Backdating

Jan 16, 2008 3:23 PM CST

Ex-Brocade CEO Gets 21 Months for Backdating

Gregory Reyes was the first exec convicted of the stock options offense

(Newser) - The first executive ever convicted of backdating stock options was sentenced today to 21 month in prison and ordered to pay a $15 million fine, the Wall Street Journal reports. Former Brocade CEO Gregory Reyes was found guilty in August of 10 fraud and conspiracy charges. He said today he...

Dem Donor
Gets 3 Years
for Grand Theft

Jan 4, 2008 9:14 PM CST

Dem Donor Gets 3 Years for Grand Theft

Former fugitive will face Ponzi scheme charges in NY

(Newser) - More than 15 years after pleading no-contest to grand theft charges, Democratic fundraiser Norman Hsu was sentenced in California to 3 years in prison today, the San Francisco Chronicle reports. A judge dismissed Hsu's argument that he was denied the right to speedy justice because authorities made little effort to...

Fraud Trial
May Put Buffett
on Stand

Jan 2, 2008 1:24 PM CST

Fraud Trial May Put Buffett on Stand

Defense says billionaire knew about phony insurance deal

(Newser) - A criminal trial involving four ex-employees of billionaire Warren Buffett is likely to offer a rare—and unwelcome—glimpse into the inner workings of the “Oracle of Omaha,” the Wall Street Journal reports. Buffett isn’t charged in the case—to begin Monday—involving Berkshire Hathaway reinsurance unit...

Cell Tower Company Sues Impostor CEO

Dec 29, 2007 11:49 PM CST

Cell Tower Company Sues Impostor CEO

Rival founder accused of impersonating executive online

(Newser) - Cellular infrastructure company American Tower Corp has sued Jide Zeitlin, the founder of one of its direct competitors, accusing him of impersonating its chief executive through an email sent to investors. Zeitlin allegedly provided Money magazine with negative reports regarding American Tower, later forwarding the published article online with the...

South African Leader Indicted for Corruption

Dec 28, 2007 10:39 PM CST

South African Leader Indicted for Corruption

Lawyer calls charges 'politically motivated'; party crisis intensifies

(Newser) - South African prosecutors hit a new ruling party leader with corruption charges today, threatening his shot at the presidency and risking a prolonged legal and political crisis, the Guardian reports. ANC leader Jacob Zuma was ordered to stand trial next year on charges including racketeering and fraud linked to a...

Iraq Watchdog
Gets His
Own Probe

Dec 14, 2007 6:42 AM CST

Iraq Watchdog Gets His Own Probe

Charges of inflated OT, email snooping and hexes by wiccan deputy

(Newser) - The tables have turned on the federal watchdog who has spent the past four years investigating waste and fraud in Iraq—he's now the target of an FBI probe of his own alleged overspending and mismanagement. Former employees claim that Inspector General Stuart Brown paid some employees inflated six-figure overtime,...

Wife of 'Dead' Canoeist Behind Bars

Dec 12, 2007 4:37 AM CST

Wife of 'Dead' Canoeist Behind Bars

Awaiting trial for insurance fraud, mom pleads for reconciliation with her sons

(Newser) - The wife of back-from-the-dead canoeist John Darwin was sent to prison yesterday shortly after she issued a plea through her attorney for a reconciliation with her sons, who publicly disowned their parents after the scandal broke. Anne Darwin is charged with dishonestly obtaining life insurance benefits and a mortgage policy....

'Dead' Canoeist Reappears Again—in Court

Dec 10, 2007 3:20 PM CST

'Dead' Canoeist Reappears Again—in Court

Seeking help, police release photo from fraudulent passport

(Newser) - The British man who faked his own death in a canoeing accident only to resurface 5 years later appeared in court today to face formal charges of fraudulently obtaining a life insurance policy and lying to procure a passport, the Telegraph reports. A hearing date of February 4 was set...

UK Arrests Canoeist's Wife

Dec 9, 2007 1:29 PM CST

UK Arrests Canoeist's Wife

Canoeist's spouse apprehended at UK airport

(Newser) - John Darwin's wife was charged with fraud today upon her arrival at the UK's Manchester Airport, the BBC reports. Anne Darwin, the wife of the missing canoeist who turned up after being declared dead in 2002, was flying in from Atlanta, where she had sought refuge when her not-dead-after-all husband's...

UK Cops
Charge Boater With Fraud

Dec 8, 2007 4:53 PM CST

UK Cops Charge Boater With Fraud

Back-from-dead Darwin hid in family home, using secret passage

(Newser) - UK cops today charged John Darwin, the 57-year-old former teacher who allegedly faked his death in a 2002 canoeing incident, with two counts of fraud—acquiring a money transfer by fraud and lying to get a passport—the BBC reports. Darwin will remain in custody until a court appearance Monday;...