These are documented summaries of (major) fraud events as they happened.
The information will explain how people get caught up in and often unknowingly support frauds.
There are many classic examples here. Prepare to be impressed at the ugly creativity of these crooks!
In June 2008, Electronic Arts, Inc (EA) was the subject of a national class-action lawsuit. EA is the company behind popular sports games such as Madden NFL, NCAA Football, and Arena Football. The lawsuit claimed that EA violated antitrust laws. Antitrust laws protect customers from unfair competition tactics by businesses and corporations. In this case, EA had exclusive [...]
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 and social media to complain. [...]
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 agreed and found that PopCap [...]
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 card information had been stolen. [...]
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 pal, Daniel Lachacha. Mr. Lachacha [...]
Victor Lustig Born on January 4, 1890 in Hostinné, now a part of the Czech Republic, Victor Lustig is favored with legend status by the media at large. For many of his frauds, he posed as a count of eastern European origins. What he really was, is a sharp little crook who enjoyed a long criminal career with great [...]
There is still a long arm of the law. This time, it stretched all the way from Cleveland, OH to Lithuania. Alex Spirikaitis, 52, lived large on an annual salary of about $50,000 as the CEO of the Taupa Lithuanian Credit Union in Cleveland. He had a house built for $1 million, had a luxury box at the Cleveland [...]
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 similar scams, this offer would [...]
Chevron oil, aka Standard Oil/Texaco with a 2017 turnover in excess of $140 billion is alleging financial fraud by the plaintiffs in a massive pollution case they just lost. An Ecuadorian court ruled that Chevron is a direct cause of destruction of the Amazon basin. They fined the company $8 billion (£5 billion). This was much less than the [...]
The scariest phone call any parent could ever receive is bad news about a child. There are no exceptions to this. One LE (Law Enforcement) jurisdiction after another currently issue warnings - because this fraud is spreading rapidly. It is, without doubt one of the scariest and ugliest of all the frauds out there. [...]
“The income inequality that exists in this country is a disgrace,” stated AFL-CIO President Richard Trumka in his May 2016 statement on executive pay. And Trumka is only one of many union leaders who rail against the evil "1%" who, they claim, exploit the other 99% for their wealth and power. And they’re right. There is a wealthy elite [...]
In 2008, the Hawaii Department of Transportation (HDOT) hired Colorado-based Ciber Inc. to upgrade its 20-year-old accounting system, and to automate project reporting that cost millions in federal funds. In 2015, the Governor terminated the contact. Ciber had collected more than $8 million in fees from the State for the financial accounting system transportation project. However, HDOT claims that [...]
Edwin Fujinaga Fraud Edwin Fujinaga, Junzo Suzuki, and Paul Suzuki were executives of MRI International, a US-based business that began selling products in Japan in 1998. Between 2009 and 2013, the trio solicited more than $1.5 billion, mainly from Japanese residents, by promising to buy accounts receivable from medical companies at a discount, and by recouping the full value [...]
The reign of union power, as seen in the McClellan Record, is marked by coercion at its beginning, and corruption at its end. The process begins with the use of compulsion to secure members. After that, unions use different coercive methods to bind unwilling employees to the union. After a union has witnessed the usefulness of coercion in increasing [...]
A special army supposedly loyal to the emperor Praetorian Guard was a unit of the Imperial Roman Army, dating back to the second century, BC. They were considered the elite of Roman soldiers. During unrest in the Roman Empire, the Praetorian Guard killed the emperor and offered the emperorship to the highest bidder. The "winner" was Julianus, who came up [...]
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Written by David Tracey.