Fraud

IRS seized $3.5B in crypto-related fraud money this year as illicit activity multiplies he Internal Revenue Service’s Criminal Investigations Unit (IRS-CI) seized $3.5 billion from cryptocurrency-related fraud cases over the fiscal year of 2021, according to an annual report published by the agency, underscoring how the booming sector has also sparked a rise in the illicit use of crypto. According to...

Defendant claimed his hedge fund would use sophisticated tools like artificial intelligence to generate returns Washington D.C., Feb. 2, 2024 — The Securities and Exchange Commission this week announced that Brian Sewell and his company, Rockwell Capital Management, agreed to settle fraud charges in connection with a scheme that targeted students taking Sewell’s online crypto trading course known as the...

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...

SCRANTON – The United States Attorney’s Office for the Middle District of Pennsylvania announced today that Vicki Hackenberg, age 57, of Bloomsburg, Pennsylvania, was sentenced by United States Chief District Judge Matthew W. Brann, to 12 months of imprisonment for perpetrating a bank fraud and money laundering scheme that included nearly $300,000 in COVID-19 relief guaranteed by the Small...

Two New York diagnostic testing facility owners were sentenced today to three years in prison for their roles in a more than $18 million health care fraud scheme. According to court documents, Tea Kaganovich, 50, and Ramazi Mitaishvili, 62, both of Brooklyn, are a married couple that co-owned several diagnostic testing facilities in Brooklyn. The couple paid over $18 million...

John DeSalvo also charged with fraud in separate investment scheme Washington D.C. — The Securities and Exchange Commission has charged former New Jersey State Correctional Police Officer John A. DeSalvo with fraudulently raising funds through the unregistered offering of the Blazar Token, a crypto asset security he created but that collapsed in May 2022. The SEC also charged DeSalvo with...

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A former coal company executive was arrested today on charges of violating the Foreign Corrupt Practices Act (FCPA), laundering funds, and receiving kickbacks as part of an alleged scheme to pay bribes to government officials in Egypt in connection with contracts with an Egyptian state-owned and state-controlled company, Al Nasr Company for Coke and Chemicals (Al Nasr). The seven-count indictment...

A California man was extradited from Mexico on March 8 and pleaded guilty today to conspiracy to commit mail fraud and wire fraud, mail fraud, and money laundering charges for two high-yield investment fraud schemes. According to court documents, Daniel Thomas Broyles Sr., aka Dan Thomas, aka Daniel Cruz Torrez, 64, of Malibu, participated in a high-yield investment fraud scheme...

LOS ANGELES – A Riverside County man was sentenced today to 60 months in federal prison for using hundreds of thousands of dollars from the Paycheck Protection Program (PPP) for personal expenses such as luxury cars after he obtained a COVID-business relief loan for more than $7 million on behalf of his pothole-repair company. Oumar Sissoko, 59, of Murrieta, was...