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 [...]

Has anything changed 10 years on from the Lehman Brothers crisis?

September 2018 marked the 10-year anniversary of the Lehman Brothers bank collapse. At the time,  was the fourth largest investment bank in America. But it had almost as much debt ($619 billion) as it had in assets ($639 billion). Dubbed, the “Lehman Weekend”, the world witnessed the largest bankruptcy in US history. It led to [...]

Wells Fargo settles securities fraud lawsuit for $480 million.

In May of 2018, Wells Fargo agreed to pay $480 million to settle its class action lawsuit. Wells Fargo is a giant banking company based in the United States. The lawsuit accused Wells Fargo of securities fraud. The securities fraud accusation is a result of a fake account scandal that occurred in 2016. In [...]

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, [...]

Utah teen murdered after attempt to sell kitchen spices as cannabis.

The most common consequence of fraud to the victim is money loss. Consequences to the perpetraitor can be fines and jail/prison time, if any. For 19-year-old Hunter Woodson, the price he paid for fraud was with his life. On November 21, 2018, Hunter Woodson was murdered. His killer, 17-year-old Seth Carreras, was angered after [...]

MumboJumbo wins lawsuit against PopCap to the tune of 4.6 million dollars.

MumboJumbo and PopCap used to be business partners. Basically, PopCap made games and MumboJumbo would sell and distribute the games to places like Wal-Mart, ToysRUs, Game Stop, and Best Buy. PopCap decided that they could do MumboJumbo’s job and began to work in that direction which left MumboJumbo high and dry. A Dallas jury [...]

Individual defrauds Sony out of almost a million dollars.

In a new twist, an ex-employee of Sony stole about 750,000 from the company with help from a friend. Xavier Gusman worked for Sony at the time. He checked the copyrights to make sure they were correct before Sony paid for them. That was probably where he thought about the idea, along with his [...]

BBC radio probe exposes major UK fraud.

Out of the blue, BBC fraud news reporter Shari Vahl got a call from a telemarketer selling a “solid” gold investment. She knew straightaway it was a scam and played along. The firm claimed to be based in London’s Hatton Garden. They “guaranteed” a return of 15% in 60 days. Like so many [...]

Frank Abagnale Jr.

Frank Abagnale Jr. The model reformed recidivist Full Name: Frank William Abagnale Jr. Location: Bronxville, NY Background: Frank Abagnale Jr. is best known by Leonardo DiCaprio’s portrayal of him in the Blockbuster hit film Catch Me if You Can. The film was based on Abagnale’s life during the 1960’s when he swindled millions as [...]