Two Convicted in Mortgage Fraud
A federal jury convicted two New Jersey men who were involved in a mortgage fraud scheme. The two were convicted following a six-week trial. Prosecutors say they conspired with others to obtain millions of dollars of mortgage loans for unqualified borrowers from 2002 to 2005. They were convicted on charges including wire fraud and money [...]
Ex-Kennedy Aide Charged with Defrauding Senate
A former office manager for the late Senator Edward Kennedy has been charged with defrauding the Senate of over seventy-five thousand dollars in pay and bonuses. Authorities charge that 39-year-old Ngozi T. Pole filled out paperwork to improperly boost his salary and bonus payments. He has been charged with wire fraud and theft of government [...]
Medicare Fraud Busts in Three States
Federal agents arrested several suspects in a crackdown on Medicare fraud that spanned three states. More arrests are expected to come later. Federal authorities reported that a few dozen suspects in the areas of Miami, Brooklyn, and Detroit billed Medicare for over sixty million dollars. The bills were for bogus medical equipment, therapy, and HIV [...]
New Jersey Man Sentenced for $1.8M Investment Fraud
A New Jersey broker has been sentenced to eight years in prison for operating an investment scam through which he collected roughly $1.8 million. Jeffery Southard is also being forced to make full restitution, and has to serve three years of supervised release after his prison term. He pleaded guilty to charges of mail fraud [...]
Petters Blamed for $3.5 Billion Fraud
A federal prosecutor has asked a jury to hold Minnesota businessman Tom Petters responsible for a gigantic fraud at his company. During closing arguments, which were held on Monday, prosecutor Jon Marti said that Petters lied on the stand when he attempted to blame the fraud on several of his associates. Marti says the fraud [...]
Assets Seized from Florida Lawyer
The South Florida lawyer suspected of running a huge fraud scheme has had a number of assets seized, according to a court filing on Monday. Proceeds from the seizures will be given to investors who said they were duped by Scott Rothstein, a collection of whom filed a lawsuit to the tune of $100 million [...]
Man Charged in Ponzi Scheme Held Without Bail
A businessman from Louisiana who is charged with defrauding several investors for a total of roughly twenty million dollars in a Ponzi scheme is being detained in federal custody. A spokesperson for the defense attorney, Jim Letten, said that twenty-six-year-old Matthew Pizzolato made his final appearance in court on Monday. He did not enter a [...]
US to Charge Florida Lawyer in Fraud Scheme
A once prominent Florida lawyer is now facing criminal charges for his alleged operation of a gigantic fraud scheme using fake legal settlements. Prosecutors will file criminal racketeering charges against Scott Rothstein on Tuesday, according to two law enforcement officials who remained anonymous. Rothstein’s attorney did not comment. Rothstein is expeted to appear in federal [...]
Petters Found Guilty
A jury has found the businessman Tom Petters guilty of twenty counts of fraud, conspiracy, and other charges, composing what prosecutors called a $3.5 billion Ponzi scheme. Petters had claimed that his subordinates carried out the scheme without his knowledge. He was convicted of wire fraud, mail fraud, conspiracy, and money laundering. U.S. District Judge [...]
“3 Hebrew Boys” Scammers Found Guilty by SC Jury
A federal jury found the “3 Hebrew Boys” namely Timothy McQueen, Joseph Brunson and Tony Pough guilty of fraud in a South Carolina Court. The men were accused of bilking investors out of $80 million dollars in various illegitimate schemes which carries heavy prison penalties and fines. The jury of four men and eight women [...]