Georgia real estate investor to serve 16 months in prison for bid rigging foreclosure auctions.

A real estate investor from Georgia indicted for bid rigging has received a sentence.  His name is Douglas L. Purdy and he will serve 16 months in jail. According to the indictment papers, he was a part of a plan to rig foreclosure auctions. These auctions had locations in different parts of Georgia including [...]

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 CEO of virtual reality company pleads guilty to securities fraud.

The former head of a virtual reality company pleaded guilty to securities fraud in June 2018. Neil Chandran was a past CEO of the  Sungame company. Through this company, Chandran conducted a scheme to steal millions from investors. He did this through the sale of computer tablets valued at $1,000. The perpetraitor told victims [...]

Man pleads guilty to wire and money laundering in massive and indiscriminate affinity fraud scheme.

A man from Utah received 36 months in prison for wire fraud and money laundering. This crime was affiliated  with an affinity fraud scheme. This type of fraud affects members of a certain group and is normally run by someone pretending to be a part of that group. The perpetraitor's name is Ronald Wayne [...]

2019-03-18T19:39:49+00:00Categories: Blog, Fraud News|Tags: , , |

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 [...]

“Godfather of Payday Lending” sentenced to prison for multiple frauds.

A man from Jenkintown will serve 37 months in prison for a racketeering scheme. The operator of the scheme was Adrian Rubin who conned victims with a payday lending business. This business was fraudulent and "violated the usury laws of Pennsylvania,” states US attorney, Zane David Memeger. Between 1998 and 2012 Rubin gave victims [...]

Arizona fraudster blames opioid addictions for his telemarketing scams against the elderly.

In July 2018, Kyle Dennis received 7.5 years in prison for a telemarketing scam. This particular scam targeted the elderly. Dennis said that the reason behind his scam was his addiction to opioids. He also claimed that he used the scam to fund other personal expenses. Dennis operated the telemarketing scheme through Red Mountain [...]

Elderly Dutch couple arrested for $47 million tax fraud exposed by Panama Papers.

Dutch authorities arrested an elderly couple in October 2017. The names of the perpetraitors are Herman van O and Chun L . Tax fraud, money laundering, forgery and illegal banking were the reasons behind the couple's arrest. Their crimes involved over €41 million (about $47 million) total. The arrest occurred at the couple's home [...]

Three UK financial advisers exposed in Panama Papers arrested for $171 million tax fraud.

A large investigation in the UK resulted in the arrest of 3 financial advisers on July 21, 2016. The arrests came as a part of a raid by the UK's HM Revenue & Customs (HMRC) authority. The perpetraitors arrest was for tax fraud. The search for the fraudsters required more than 30 officers from [...]

Italian fugitive from justice and tax fraudster arrested in Ukraine after three years on the run.

Black Sea Port police in Ukraine arrested Giuseppe Donaldo Nicosia in 2017. Nicosia is an Italian fugitive who was on the run for three years. He was on the run for stealing money and tax fraud. His crimes came to light during the Panama Papers scandal of 2016. This scandal revealed how many wealthy [...]