Goldman Sachs finally confesses to mortgage fraud during the 2008 financial crisis.

It took nearly a decade, but Goldman Sachs finally named itself as the fraudster that it is. The investment bank accepted the Department of Justice’s conclusion that it “misled investors.” Goldman Sachs admitted that it deceived investors by not informing them of their risks. Basically, Goldman Sachs withheld vital information from investors for its [...]

Deutsche Bank pays over $240 million in fines over LIBOR price rigging scandal.

On February 27, 2018 Deutsche Bank AG agreed to a $240 million settlement. The fines were over alleged price rigging which Deutsche Bank has denied. Private US antitrust prosecutors insist that Deutsche conspired with other banks to fix the London Interbank Offered Rate (LIBOR). LIBOR is what sets the global standard of interest rates. [...]

2018-10-09T12:50:20+00:00Categories: Blog, Fraud News, front news|Tags: , |

Deutsche Bank settles for $205 million in currency manipulation scheme

It is probably no surprise that Deutsche Bank AG would be named among the financial institutions caught in a currency manipulation scandal. For its role, the German/British investment bank agreed to pay $205 million in settlement. This comes after a settlement from just a few months ago for $240 million in a LIBOR scandal. [...]

Family sentenced to prison in Disney ticket scam.

Prison is now the family home for one Central Florida family. Eileen Hightower and her two children committed credit card fraud at Disney World. On January 17, 2018, the Hightower family each received sentences of three years behind or more bars. They were also ordered to pay $107,000 in restitution. The family stole information [...]

Chinese gaming website commits credit card fraud with Xbox user accounts.

A Chinese "gaming service" hacked Xbox user accounts and used their credit card information to make purchases.  The Chinese company is Gameest International Network Sales Co. The company ran the scam through its "gaming service" website iGSKY. The company advertised cheap coins and points for Xbox games on their website. When a customer bought [...]

Here’s how greed and stupidity are co-joined at the hip.

From the big mouse to the big house. In May 2012, three Florida fraudsters were charged with a four-year-long Disney World scheme. Joseph Geiger, Robert Falk and Steven Nero were discovered to have swindled several thousands of dollars at Walt Disney World theme park in Orlando, Florida. Their sneaky scheme involved first reserving their [...]

Almost ¾ of a million of Australians affected by Sony hack.

Sony was excited to release their new PlayStation 4. Consumers quickly snatched up their new gaming equipment and began to play. Soon after the release, Sony sent out an email to some users instructing a password change. But Sony was too late, again. In fact, users had already begun to notice that their credit [...]

PlayStation false customer charges and Sony could not care less. This is rich!

Sony was excited to release their new PlayStation 4. Consumers quickly snatched up their new gaming equipment and began to play. Soon after the release, Sony sent out an email to some users instructing a password change. But Sony was too late, again. In fact, users had already begun to notice that their credit [...]