State Street executive defrauded customers out of billions with hidden fees.

A federal jury in Boston convicted a former State Street executive of hidden fee fraud. State Street is a financial services and bank holding company. The perpetraitor's name is Ross McLellan. As a part of this scheme, he helped defraud account holders out of billions. McLellan was the executive vice president for State Street [...]

Former pastor who defrauded the elderly of $23m gets 68 year prison sentence.

A former Texas pastor stole $23 million from the elderly through investment fraud. The perpetraitor, Timothy Lloyd Booth committed this fraud between 2014 and 2016. Before he became a full time scammer, Booth was the pastor of Way of Grace church in McKinney, Texas. Way of Grace closed its doors in 2016. During the [...]

Lance Armstrong settles for $5 million in USPS fraud case.

Lance Armstrong has settled his US Postal Service fraud case for $5 million. Lance Armstrong is a cyclist who denied using drugs to enhance his performance for years. He finally admitted to using banned drugs in 2013. The lawsuit filed against Armstrong claimed he owed $100 million to taxpayers. This money was said to [...]

Brain app Lumosity fined $2 million for deceptive advertising.

Brain training app "Lumosity" has been fined $2 million for using deceptive advertising. The app claimed that it could help its users perform better at work and at school. The app also told customers that it could decrease the effects of many brain disorders. The Federal Trade Commission (FTC) did a lot of research [...]

LifeLock pays $100 million settlement over false advertisement and weak data security.

All human beings have identities, so anyone can be vulnerable to identity theft. As a result, several companies have formed to help users protect their identities. LifeLock is one of these companies. LifeLock is among the most recognized ID theft monitoring services on the market. Its ads can be seen on television, in magazines, [...]

Fake WhatsApp app dupes over a million Google Play users.

You may want to take a pause the next time you pick up your phone to make an app purchase. Smartphones and their accompanying apps are supposed to make our lives easier. Apps have become the new age problem solvers. Got an issue? There’s probably an app for that. But for many users, the [...]

E.A. sued for false advertising, fraud, and theft.

E.A. investors are now suing the gaming giant, Electronic Arts, for false advertising. EA supposedly promised great results for Battlefield 4, their new game. This raised the E.A. stock but E.A. did not do their job well. After Battlefield 4 came out, problems with the game were seen right away. Players hit the internet [...]

Fake news fraud.

How fake-news becomes a huge fraud. Can you believe this? Most websites rely on ads for income. This is how publishing is paid for on the Internet. It is the same with all media, generally speaking. So when a website generates a lot of traffic, clients want to market product through it. However, that is [...]

NorVergence Inc.—court writes off 1,600 worthless telecoms contracts.

NorVergence claimed that it could provide customers with years’ worth of major savings on their telephone, cellular and internet bills. It also promised unlimited long-distance and cellular minutes, free of charge. The company was able to provide a few early customers with discounted services, only by using proceeds from sales to new customers. NorVergence [...]