Fraud News

Insurers Question Claims Process in Boy Scouts Bankruptcy

DOVER, Del. (AP) — The judge presiding over the Boys Scout of America bankruptcy is weighing a request by insurance companies for permission to serve document requests on 1,400 people who have filed sexual abuse claims and to question scores …

Missouri Lawmaker Indicted For Stem Cell Fraud Scheme

SPRINGFIELD, Mo. — A federal grand jury has indicted a Missouri state legislator on fraud charges after she falsely promoted a treatment she was selling at medical clinics as containing stem cells that could treat various diseases, including COVID-19. The …

New Law Cracks Down on Shell Companies to Combat Corruption

MIAMI (AP) — For years as a federal prosecutor in New York, Daniel R. Alonso led teams that had to search through a maze of anonymously owned corporate entities to expose criminal activity. “It required all kinds of shoe-leather investigating …

Insurance Fraud Focus for Newly Appointed Deputy Financial Officer

Former Secretary of the Florida Department of Corrections Julie Jones has been appointed Deputy Chief Financial Officer within the Office of Chief Financial Officer, according to a statement from the Florida Department of Financial Services. As Deputy CFO, Jones will …

Company Offering Pandemic Stock Tips Accused of $137M Fraud

OLLEGE PARK, Md. (AP) –The founders of a company called Raging Bull tout themselves as expert stock traders who teach customers how they, too, can become millionaires. Marketing emails said they found a “hidden bull market” in the COVID-19 pandemic. …

GM Rethinks Planned Stake in Electric Vehicle Maker Nikola

NEW YORK — General Motors will not be taking a stake in the electric vehicle company Nikola, and the company said Monday that it was scuttling one of its marquee vehicles, an electric and hydrogen-powered pickup, after GM pulled technological …

4 Charged in Allegedly Staged Crash Settled for $4.7M

NEW ORLEANS — Four people have been charged in what prosecutors say was a staged wreck that was settled for $4.7 million. The indictment brought the total to 32 people accused of faking accidents with tractor-trailers to get insurance money, …

Lawsuit Accuses Indian Hackers of Leaking Businessman’s Emails

Iranian-American businessman Farhad Azima has accused a pair of Indian companies of stealing his emails and publishing them to the web, according to alawsuit filed in federal court in North Carolina. Azima’s suit alleges that Indian security company CyberRoot Risk …

Former Roommate of Accused Capital One Hacker Sentenced

SEATTLE — The former roommate of a woman accused of hacking Capital One banking company and at least 30 other organizations has been sentenced to four years in prison for illegally possessing firearms, according to federal prosecutors. Park Quan, 67, …

Structured Settlement Swindler With Kennedy Ties Sentenced to Prison

A well-connected Virginia financial advisor was sentenced to five years and 10 months in prison for embezzling approximately $8 million from money that the U.S. government and a hospital had entrusted to him to set up annuities for 13 people …