13 charged with mortgage and loan fraud in Oregon AP (November 20, 2009) EUGENE, Ore. (AP) - A federal grand jury in Eugene has indicted 13 people on mortgage and loan fraud charges arising from the collapse of a central Oregon development company.
5 indicted in scam targeting agencies in 4 states AP (November 18, 2009) CHARLESTON, W.Va. (AP) - A federal grand jury in West Virginia has linked five more people to an international scam that allegedly tricked government agencies in several states into paying at least $3.3 million to bogus companies with names that sounded like legitimate firms.
More than $98 billion in improper gov't payments AP (November 18, 2009) WASHINGTON (AP) - More than $98 billion in taxpayer dollars spent by government agencies was wasted, much of it on questionable claims for tax credits and Medicare benefits, representing an increase of $26 billion from the previous year.
NJ financial adviser admits defrauding investors AP (November 18, 2009) TRENTON, N.J. (AP) - A New Jersey-based financial adviser has admitted operating a scheme that defrauded investors of more than $9 million.
Swiss unveil criteria for UBS tax disclosure to US AP (November 17, 2009) BERN, Switzerland (AP) - American clients who hid more than 1 million Swiss francs in undeclared bank accounts with UBS AG between 2001 and 2008 could have their details turned over to the U.S. government, Swiss officials said Tuesday.
Ex-HealthSouth CEO's house, lots to be auctioned AP (November 17, 2009) BIRMINGHAM, Ala. (AP) - A $4 million estate in central Alabama that belonged to former HealthSouth chief executive Richard Scrushy is going to be auctioned next month.
IRS settles with 14,700 over foreign accounts AP (November 17, 2009) MIAMI (AP) - The Internal Revenue Service says more than 14,700 U.S. taxpayers with offshore accounts in 70 foreign countries have come forward to settle their tax debts.
Madoff property heads to auction block in Fla. AP (November 17, 2009) FORT LAUDERDALE, Fla. (AP) - Interested buyers are getting the chance to bid on a vintage 55-foot yacht and two smaller boats that were once owned by imprisoned financier Bernard Madoff.
Feds: Kuwaiti company conspired to defraud US AP (November 17, 2009) ATLANTA (AP) - The chief food supplier for the U.S. military in Kuwait and Iraq inflated prices and defrauded the U.S. government for multibillion-dollar contracts to feed American troops, federal prosecutors said Monday.
Beazer Homes CEO McCarthy may face civil charges AP (November 16, 2009) ATLANTA (AP) - Federal regulators have notified Beazer Homes USA Inc. that its top executive could face civil charges over incentive compensation.
Feds ignored Medicare scam warnings for years AP (November 13, 2009) MIAMI (AP) - For three years, the federal agency in charge of preventing Medicare fraud repeatedly ignored internal watchdog warnings about swindlers stealing millions of dollars by scamming several programs, documents show.
Businessman pleads guilty in $50M Ponzi scheme AP (November 13, 2009) LUBBOCK, Texas (AP) - A Lubbock businessman pleaded guilty Thursday to two charges related to his bilking $50 million from investors in a Ponzi scheme.
Russian policemen turn to YouTube AP (November 13, 2009) MOSCOW (AP) - When a police officer posted a video on YouTube complaining of rampant abuse in Russian law enforcement, it seemed like a lonely voice in a sea of social media.
Computer programmers accused of aiding Madoff scam AP (November 13, 2009) NEW YORK (AP) - Two former employees for Bernard Madoff programmed an old IBM computer to generate false records that concealed the money manager's massive Ponzi scheme and were given hush money when they threatened to stop lying, federal prosecutors said Friday.
Conn. man gets year in prison in oil bribe case AP (November 11, 2009) NEW YORK (AP) - A Connecticut businessman was sentenced to a year and a day in prison Tuesday for conspiring with others to corrupt the oil privatization process in Azerbaijan.
NY union official expected Bruno favors AP (November 10, 2009) ALBANY, N.Y. (AP) - A former union president imprisoned for racketeering testified Monday that his late boss expected "favors" in Albany from then New York Senate leader Joseph Bruno in return for investing union pension funds with the company that employed Bruno.
Feds seize assets of Fla. lawyer in Ponzi probe AP (November 10, 2009) FORT LAUDERDALE, Fla. (AP) - Federal prosecutors accused a high-profile South Florida attorney of concocting a Ponzi scheme that lured millions of dollars from investors with promises of big payoffs from legal settlements that never existed, according to court documents filed Monday.
Petters associate explains how alleged scam worked AP (November 10, 2009) ST. PAUL, Minn. (AP) - A key figure in the case of a Minnesota businessman accused of orchestrating a massive Ponzi scheme acknowledged Monday that he was a disbarred lawyer with a criminal record who had entered the federal witness protection program decades earlier.
Report: Fla. investment agency under investigation AP (November 06, 2009) ST. PETERSBURG, Fla. (AP) - The Florida agency that manages $132 billion in pension and local government investments is under investigation by the Securities and Exchange Commission.
Lax laws allow US companies to be used for crimes AP (November 05, 2009) WASHINGTON (AP) - Lax state laws allow arms traffickers, drug kingpins and money launderers to use U.S. companies to hide their illicit activities from investigators, government officials said Thursday.
At federal trial, questions about Bruno documents AP (November 05, 2009) ALBANY, N.Y. (AP) - The lawyer for an investment company that paid former state Senate leader Joseph Bruno to generate business testified Wednesday that company files did not contain disclosure statements the lawmaker was required to present to clients.
Feds: 14 charged in insider trading case AP (November 05, 2009) NEW YORK (AP) - Federal prosecutors say criminal charges have been filed against 14 people, including attorneys and Wall Street professionals, in a widening $25 million insider trading case that has already snared one of the richest men in America.
Judge to reschedule ex-Westar CEO trial AP (November 03, 2009) TOPEKA, Kan. (AP) - Federal prosecutors have asked a judge to schedule the third criminal trial for a pair of former Westar Energy Inc. executives.
Madoff's longtime auditor pleads guilty AP (November 03, 2009) NEW YORK (AP) - Disgraced money manager Bernard Madoff's longtime auditor pleaded guilty to securities fraud and other charges Tuesday in a cooperation deal that could leave him behind bars for years.
Former AMD chief leaves current job AP (November 02, 2009) SUNNYVALE, Calif. (AP) - Hector Ruiz, former CEO of chip maker Advanced Micro Devices Inc., is leaving his job with a spinoff company after a published report linking him to the Galleon Group insider trading case.
Toy salesman gets 3 months jail in UBS tax probe AP (October 30, 2009) FORT LAUDERDALE, Fla. (AP) - A federal judge Friday rejected a plea for probation from a New York businessman who admitted concealing $8 million in secret Swiss bank accounts, imposing instead a three-month prison term in the high-profile tax evasion case.
West Point employee admits $3M fraud scheme AP (October 29, 2009) WEST POINT, N.Y. (AP) - A New York woman who worked in the dean's office at the United States Military Academy at West Point admits defrauding the government out of nearly $3 million.
NC man facing prison for investor fraud scheme AP (October 27, 2009) CHARLOTTE, N.C. (AP) - A 53-year-old North Carolina man is facing 14 years in prison for his part in a scheme which led investors to hand over more than $11 million to his company.
Church of Scientology convicted of fraud in France AP (October 27, 2009) PARIS (AP) - A Paris court convicted the Church of Scientology of fraud and fined it more than euro600,000 ($900,000) on Tuesday but stopped short of banning the group as prosecutors had demanded.
Lawyer: Death complicates Madoff investment case AP (October 26, 2009) PALM BEACH, Fla. (AP) - The death of Jeffry Picower, accused of profiting more than $7 billion from the investment schemes of his longtime friend Bernard Madoff, will make it more difficult for suing investors to recoup their money, attorneys said.
Autopsy set for dead Madoff associate in Florida AP (October 26, 2009) WEST PALM BEACH, Fla. (AP) - An autopsy is planned for a man accused of making more than $7 billion off the investment schemes of jailed financial manager Bernard Madoff.