Resources2018-05-29T08:37:37+00:00

Prevention Resources

These are fraud summaries, each describing how each fraud is executed.

This data is a resource you can review to avoid getting caught up in a fraud event.

You may already know some of them. A well-informed person is a well-armed person.

Will their multi billion $$$ fraud schemes crash Deutsche Bank (DB) through the “too big to fail” myth?

The United Kingdom’s Financial Conduct Authority and the US Government recently declared (another) high penalty on the biggest money laundering scheme exposed so far in recent years. Deutsche Bank has agreed to pay over $600m in penalties for enabling an estimated $20 billion in this Russian money laundering scam. All down to a failure to engage in any security [...]

NY Mortgage services provider convicted of $38 million fraud conspiracy.

New York-based mortgage elimination company owner Jacqueline Graham was convicted of participating in a conspiracy. This conspiracy included bank fraud, wire fraud, and mail fraud. The targets of the scheme was homeowners with problem mortgages. All this went down during the deep crisis in the housing market. The money charging various fees from the clients looking for help with [...]

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 the cities of Alpharetta, Cumming, [...]

The emerging consumer frauds of the US-Mexico Border “Crisis”

According to the latest US Customs and Border Protection (CBP) reports, immigrants/refugees crossing into the USA are now at an all-time high level. In the month of May 2019, 144,278 refugees, including children, were arrested and detained. This data was provided by Border Patrol and Border Protection and was declared as a historic off the chart figure. It is [...]

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 when he ran the hidden [...]

The emerging consumer frauds of the US-Mexico Border “Crisis”

“It’s a real story riven with fraud scams, fake news, and an enduring false narrative”. According to the latest US Customs and Border Protection (CBP) reports, immigrants/refugees crossing into the USA are now at an all-time high level. In the month of May 2019, 144,278 refugees, including children, were arrested and detained. This data was provided by Border Patrol and [...]

Editorial, Fraud News|

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 that the computer tablets showed [...]

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 case investigation, law enforcement officials [...]

Blog, Fraud News|

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Written by David Tracey.

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