Latest Fraud Headlines
All the headlines from our Fraud Topic Page, ordered by recency.
Fraudulent Instruction, Data Theft Trends to Continue in 2023: Beazley
Feb 9 2023 // Incidents of fraudulent instruction scams were up 13% in 2022, according to specialist insurer Beazley’s new Cyber Services Snapshot report. Under fraudulent instruction scams, criminals use hacking and phishing...
Brothers in Fraud: Carolina Insurance Agents Plead Guilty to Ponzi Scheme Charges
Feb 9 2023 // Two brothers, longtime insurance agents in Whiteville, North Carolina, are on their way to several years in prison after pleading guilty to running a Ponzi scheme that defrauded friends, family and other members of the...
Criminal Attorney Signs on to Represent Houston Hurricane Claim Filing Law Firm
Feb 8 2023 // Houston, Texas-based McClenny Moseley & Associates hired a criminal defense lawyer after being sanctioned last week by a federal judge in New Orleans for filing lawsuits on behalf of a homeowner it did not...
Disbarred Lawyer Pleads Not Guilty to Settlement Thefts in California
Feb 8 2023 // Disbarred lawyer Tom Girardi had not guilty pleas entered on his behalf on charges he embezzled millions of dollars from some of the massive settlements he won for clients during a once prominent career. Girardi, 83, is...
First Sweeping Federal Gun Crime Report in 20 Years Released
Feb 7 2023 // The most expansive federal report in over two decades on guns and crime shows a shrinking turnaround between the time a gun was purchased and when it was recovered from a crime scene, indicating firearms bought legally are...
Securities Fraud Trial Over Elon Musk’s 2018 Tweets Draws to a Close
Feb 3 2023 // A lawyer for Tesla Inc. shareholders who claim Elon Musk deceived them when he tweeted that he had secured funding to take his electric car company private is expected to make closing arguments to a San Francisco jury on...
Crypto Thefts Hit Record $3.8B in 2022 on Surge in North Korea Hacking: Report
Feb 3 2023 // Thieves stole a record $3.8 billion worth of cryptocurrency in 2022 as sanctions on North Korea drove a surge in suspected hacking by the Asian nation. Overall crypto losses increased from $3.3 billion stolen in 2021,...
Ex-Allianz Fund Manager Seeks Dismissal of Fraud Charges
Feb 1 2023 // The former Allianz SE hedge fund manager charged with fraud over billions of dollars in investor losses asked a judge to throw out the case, claiming lawyers wrongly betrayed him to protect the company. Gregoire Tournant...
Markets/Coverages: Combo W&H and EPL Policy From ExecutivePerils; Coalition Adds Crime and Fiduciary Coverage
Jan 31 2023 // Independent wholesaler ExecutivePerils announced the launch of a new insurance policy, EPL+WHIP – a product that combines wage & hour insurance protection (WHIP) coverage with employment practice liability (EPL)...
New York Prosecutors Allege Workers’ Comp Premium Fraud in Two Schemes Worth $10M
Jan 27 2023 // Manhattan District Attorney Alvin Bragg, Jr. within the past week announced two separate indictments alleging workers’ compensation fraud, one totaling $7 million in premiums and the other, $3 million. In one case,...
Abbott Faces Criminal Probe Over Baby Formula
Jan 23 2023 // Abbott Laboratories’ Michigan plant, which was at the center of the U.S. baby formula shortage last year, faces a criminal investigation by the Justice Department, the Wall Street Journal reported on Friday. Panicked...
Judge Orders Boeing Arraigned on MAX Fraud Charge
Jan 20 2023 // A federal judge on Thursday ordered Boeing Co BA.N to appear in court on Jan. 26 to be arraigned on a 2021 felony charge after families of those killed in two fatal crashes objected to a 2021 plea deal. Boeing won immunity...
USDA Rolls Out Rule to Stop Fraud in Organic Food Sales
Jan 19 2023 // The U.S. government plans to impose new regulations on food producers and handlers aimed at reducing fraudulent schemes in which non-organic products are sold as organic, one of the biggest changes to oversight of the...
Former California Insurance Agent Arrested for Allegedly Stealing $90K
Jan 13 2023 // Sally Nava Kanarek, 76, of Huntington Beach, was arrested this week on multiple felony counts of financial elder abuse, grand theft of an elder, and forgery after a California Department of Insurance investigation found...
Donald Trump’s Company Sentenced to Pay $1.61M Penalty for Tax Fraud
Jan 13 2023 // A New York judge on Friday sentenced Donald Trump’s namesake real estate company to pay a $1.61 million criminal penalty after it was convicted of scheming to defraud tax authorities for 15 years. Justice Juan...
Art Collector Says Van Gogh Painting on Display in Detroit Museum Was Stolen From Him
Jan 13 2023 // In October, the Detroit Institute of Arts pulled back the curtains on its three-month Van Gogh exhibit, proudly boasting that its expo of 74 paintings was one of the largest-ever collections assembled of the Dutch...
New York Corporations Face Fines for Criminal Liability for Construction Deaths, Injuries
Jan 13 2023 // Corporations in New York’s construction industry will face increased fines of up to $500,000 if they are found criminally liable for worker deaths or serious injuries. Gov. Kathy Hochul signed into law what has been...
Crypto Crime Hits Record $20B in 2022, Report Says
Jan 12 2023 // Illicit use of cryptocurrencies hit a record $20.1 billion last year as transactions involving companies targeted by U.S. sanctions skyrocketed, data from blockchain analytics firm Chainalysis showed on Thursday. The...
West Texas Mayor Arrested for Insurance Fraud
Jan 10 2023 // San Elizario, Texas mayor Isela Reyes was arrested Tuesday for insurance fraud, the El Paso County Sheriff’s Office said. The FBI West Texas Border Corruption Task Force arrested Reyes for insurance fraud of over...
Bankman-Fried Fraud Charges Sidestep Debate Over How U.S. Law Sees Crypto
Jan 9 2023 // Sam Bankman-Fried may find it hard to argue the fraud charges against him should be tossed because of uncertainty as to how U.S. law treats cryptocurrency, as other high-profile defendants in criminal cases involving...
