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EX-MIT BUSINESS SCHOOL DEAN PLEADS GUILTY TO RUNNING HEDGE FUND SCHEME!

By   /  August 14, 2014  /  Latest Fraud News  /  No Comments

An ex-MIT business school dean pleaded guilty to running a fraudulent hedge fund scheme along with his son, according to a report in the Boston Globe. Gabriel Bitran, 69, a former deputy dean at the Sloan School of Business at the prestigious university, and professor for 35 years, pled guilty along with his son, Marco, to […]

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RESTAURANT OWNER CHARGED WITH FOOD STAMP FRAUD!

By   /  August 13, 2014  /  Latest Fraud News  /  No Comments

A North Carolina restaurant owner has been charged with food stamp fraud, after allegedly buying food stamps from people, then using the stamps to buy food for his bistro. Herbert “Dean” Carlton, 54, was hit with 14 charges of food stamp fraud.  Carlton purchased the food stamp cards from legitimate food stamp recipients, and from illegal […]

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WHAT’S THE MATTER WITH KANSAS? FRAUD, SAYS SEC, WHICH SUES THE STATE!

By   /  August 12, 2014  /  Latest Fraud News  /  No Comments

What’s the matter with Kansas?  According to the Securities and Exchange Commission, the answer is fraud in the pension system. In an unusual step, the SEC has filed fraud charges against the state of Kansas for not properly disclosing funding problems with the state’s public pension system.  The state is accused of not disclosing the […]

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CHEERS! WINE FRAUD, RUDY KURNIWAN, SENTENCED TO 10 YEARS!

By   /  August 10, 2014  /  Latest Fraud News  /  No Comments

Rudy Kurniwan, a convicted 38 year old wine fraud, will spend ten years in a federal prison for passing off lower quality wine as high quality vintages, selling them, and making millions of dollars. Kurniwan, an Indonesian a national, was sentenced on mail fraud and other charges for his scheme to sell counterfeit wine to […]

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SON OF CONGRESSMAN CHAKA FATTAH CHARGED WITH BANK, TAX FRAUD

By   /  August 7, 2014  /  Latest Fraud News  /  No Comments

The namesake son of Pennsylvania Congressman Chaka Fattah  has been arrested on multiple bank and tax charges. Chaka Fattah, Jr. was arrested and taken into federal custody Wednesday, and charged on an eye-popping 25 counts, including ripping off the School District of Philadelphia, according to the federal indictment. The younger Chaka Fattah is charged with obtaining bank loans […]

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RUSSIAN HACKERS STEAL 1.2 BILLION PASSWORDS IN MASSIVE SECURITY BREACH!

By   /  August 6, 2014  /  Latest Fraud News  /  No Comments

In what could be the greatest internet security breach to date, a gang of Russian hackers hasve stolen more than 1 billion computer passwords and user names. A highly cited report by Hold Security suggests that Russian hackers have collected 1.2 billion user names and passwords, belonging to approximately 500 million people. According the several media reports, including […]

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FORMER MAYOR OF GRANDVIEW, MISSOURI GOING TO JAIL: FRAUD!

By   /  August 5, 2014  /  Latest Fraud News  /  No Comments

The former mayor of Grandview, Missouri, will spend one year and one day in federal prison after being sentenced after a fraud conviction. Stephen Dennis, 51, was sentenced Monday after he pleaded guilty in February to  using a non-profit company he controlled as a tax-exempt charity, and soliciting funds for himself,  the Kansas City Star reports. […]

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FLA. PONZI FRAUDSTER: GUILTY OF RUNNING $12 MIL. INVESTMENT SCHEME

By   /  August 4, 2014  /  Latest Fraud News  /  No Comments

A central Florida man faces up to 20 years in prison after pleading guilty to fraud charges in connection with an $11.9 Ponzi investment scheme. Blayne Seth Davis, 33, bilked almost 100 victims, including family and friends, in the foreign-currency exchange investment scheme. According to prosecutors, Davis now-defunct company, Capital Blu, raised funds from investors […]

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HE STOLE I.D. OF 12 YEAR-OLD: NOW HE’S IN JAIL FOR FRAUD!

By   /  August 3, 2014  /  Latest Fraud News  /  No Comments

Meet Christopher Lamont Bowles.  Mr. Bowles, 40, has been arrested for stealing the identity of a 12 year-old, and opening accounts using the kid’s social security number. Bowles was arrested by the Coweta County (Georgia) Sheriff’s Office after an investigation that charges Bowles with opening a “deposit account” at a local credit union, then attempting to […]

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COP FRAUD! FMR. NYPD SERGEANT SENTENCED TO 5 YEARS for INVESTMENT SCHEME!

By   /  August 2, 2014  /  Latest Fraud News  /  No Comments

A phony real estate investment scheme will put a former New York City police sergeant in prison for 58 months in prison. James Monahan, 44, the ex-NYPD cop who ran the $4.7 million investment scheme, was given the almost five-year sentence by U.S. District Judge John G. Koeltl, according to a statement from the U.S. […]

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