Editors Picks

A federal jury convicted a New York man this week in an over $600 million health care fraud, wire fraud, and identity theft scheme. According to court documents and evidence presented at trial, Mathew James, 54, of East Northport, operated a medical billing company that billed for procedures that were either more serious or entirely different than those James’ doctor-clients...

LOS ANGELES – A Ventura County man who schemed with an Orange County man to illegally acquire disaster relief funds was sentenced today to 51 months in federal prison for fraudulently obtaining more than $1 million in loans intended to help businesses weather the COVID-19 pandemic’s economic fallout. Manuel Asadurian, 66, of Simi Valley, was sentenced by United States District...

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Facebook will launch its own cryptocurrency Facebook could integrate cryptocurrency payments into its social network, rewarding users with micropayments for viewing advertisements or allowing people to send payments through messaging apps. The social media giant has talked with Visa and MasterCard about working together on the project, known internally as Project Libra, The Wall Street Journal reported. Facebook wants to use digital currency on the...

Rule 506 of Reg D Real Estate and the benefits of the CARES Act Investing can be very profitable when one does their research, and an important form of investing is Regulation D. IN THIS ARTICLE, WE ARE GOING TO REVIEW REGULATION D, THE JOBS ACT, BRIEFLY OUTLINE THE BENEFITS OF THE CARES ACT IN RESPONSE TO THE RECENT CORONAVIRUS AGENDA. WE...

Fraudulently Claimed Nearly $3 Million in Refunds Two Florida tax preparers were sentenced to prison yesterday for conspiring to defraud the United States and preparing false tax returns. Nikency Alexis, the owner and operator of Unity Tax & Financial Services (Unity Tax), a Broward County tax preparation business, was sentenced to 45 months  in prison, and Thony Guillaume, who worked as...

Washington D.C. — The Securities and Exchange Commission today announced charges against Wells Fargo Advisors for failing to file at least 34 Suspicious Activity Reports (SARs) in a timely manner between April 2017 and October 2021. Wells Fargo Advisors, the St. Louis-based broker-dealer, has agreed to pay $7 million to settle the charges. According to the SEC’s order, due to...

Washington D.C. — The Securities and Exchange Commission today charged Jebara Igbara, the founder of Halal Capital LLC, in connection with a more than $8 million scheme that targeted investors from the New York metropolitan area’s Muslim community. According to the SEC’s complaint filed in federal court in Brooklyn, Igbara (a.k.a. Jay Mazini) started Halal Capital in October 2019 with...

Washington D.C. — The Securities and Exchange Commission today charged Brett M. Bartlett, his father-in-law Scott A. Miller, and their companies for fraudulent securities offerings that raised at least $20.5 million, some of which Bartlett and Miller misused for personal expenses. According to the SEC’s complaint, from at least June 2018 to May 2020, Bartlett and Miller raised funds from...

Six Texas men were sentenced a few days ago for their roles in a conspiracy to fraudulently obtain more than $20 million in forgivable Paycheck Protection Program (PPP) loans that the Small Business Administration (SBA) guaranteed under the Coronavirus Aid, Relief, and Economic Security (CARES) Act. Hamza Abbas, 31, Ammas Uddin, 31, and Arham Uddin, 27, all of Richmond, were...