Fraud

SEC Charges Seven California Residents in Insider Trading Ring Washington D.C. — The Securities and Exchange Commission has announced insider trading charges against three software engineers employed at Twilio, Inc., a San Francisco-based cloud computing communications company, and four family members and friends for allegedly generating more than $1 million in collective profits by insider trading ahead of the company’s...

SAN JOSE – Elizabeth A. Holmes was sentenced today to 135 months (11 years, 3 months) in federal prison for defrauding investors in Theranos, Inc. of hundreds of millions of dollars, announced United States Attorney Stephanie M. Hinds, Federal Bureau of Investigation Special Agent in Charge Robert K. Tripp, Food and Drug Administration (FDA) Assistant Commissioner for Criminal Investigations...

An Indian national was sentenced today to five years in prison for selling controlled substances on dark web marketplaces and ordered to forfeit approximately $150 million. According to court documents and in statements made in court, Banmeet Singh, 40, of Haldwani, India, created vendor marketing sites on dark web marketplaces, such as Silk Road, Alpha Bay, Hansa, and others, to...

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...

A Puerto Rico man was scheduled to make his initial appearance this week at the federal courthouse in Manhattan to face commodities fraud, commodities market manipulation, and wire fraud charges in connection with the manipulation of the Mango Markets decentralized cryptocurrency exchange. According to court documents, Avraham Eisenberg, 27, engaged in a scheme to fraudulently obtain approximately $110 million worth...

A Special Report: The Harrowing Impunity of White-Collar Crime (Part III) AN IMPORTANT NOTE: On June 22, 2021, Hadari Oshri –Marc Lubaszka’s business partner– filed a frivolous civil harassment restraining order (CHRO) against me to stop the publication of my investigative series “A Special Report: The Harrowing Impunity of White-Collar crime,” and any subsequent installments or future media coverage. On...

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...

A Louisiana man was sentenced today to 10 years in prison for money laundering in connection with a fraudulent scheme to obtain more than $1.1 million in Paycheck Protection Program (PPP) and Economic Injury Disaster Loan (EIDL) Program loans. “The significant sentence handed down today demonstrates that those who steal from COVID-19 relief programs for personal gain will be prosecuted...

Washington D.C. — The Securities and Exchange Commission today announced charges and an asset freeze against several Las Vegas-area individuals and companies allegedly behind a nearly half-billion dollar Ponzi scheme involving purported personal injury settlements. The SEC charged certain defendants with violations of the antifraud provisions of the federal securities laws, certain individual defendants with acting as unregistered brokers,...

Washington D.C., June 22, 2023 — The Securities and Exchange Commission today charged William K. Ichioka, of New York, New York, with fraudulently raising $25 million from individual investors primarily in California and Oregon by making false claims about his investing success and promising large anticipated returns but instead using investor funds for gambling and to enrich himself. Ichioka...