Latest Fraud Headlines
All the headlines from our Fraud Topic Page, ordered by recency.
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...
JPMorgan Must Face Suit by Ray-Ban Maker Unit Over Cyber Theft
Jan 5 2023 // JPMorgan Chase Bank NA will have to face a lawsuit by a unit of the French maker of Ray-Ban glasses that claims the bank ignored suspicious transactions as cybercriminals drained $272 million from its New York bank...
California Bail Agent Arraigned for Felony Grand Theft
Jan 4 2023 // Previously licensed California bail agent and insurance producer Sean Wilczak, 29, was arraigned in Santa Barbara County Superior Court on three felony counts of grand theft for allegedly stealing $25,000 from three bail...
Sam Bankman-Fried Pleads Not Guilty in FTX Fraud Case; October Trial Set
Jan 4 2023 // Sam Bankman-Fried pleaded not guilty on Tuesday to criminal charges that he cheated investors in his now-bankrupt FTX cryptocurrency exchange and caused billions of dollars in losses, in what prosecutors have called an...
Lindberg’s Top Associate To Be Sentenced After Pleading Guilty to Fraud Charges
Dec 28 2022 // A top executive for embattled North Carolina insurance executive Greg Lindberg is awaiting sentencing after pleading guilty to federal fraud charges in connection with an elaborate scheme to shunt millions of dollars from...
Missouri Men Sentenced in Catalytic Converter Theft Ring
Dec 27 2022 // SPRINGFIELD, Mo. (AP) – Three Missouri men have been sentenced for their roles in the theft of tens of thousands of stolen catalytic converters, which were taken to an Arkansas business as part of a multi-million-dollar...
Buffalo Bus Driver Gets 5 Years Probation for Workers’ Compensation Claims Fraud
Dec 22 2022 // A former bus driver for the Niagara Frontier Transportation Authority (NFTA) has been sentenced to five years of probation for fraudulently obtaining workers’ compensation benefits by misrepresenting her injuries....
Georgia Insurance Agent Sentenced After Conviction on Fraudulent Comp Certificates
Dec 20 2022 // This article has been updated to reflect information from the prosecutor in the case. A Georgia insurance agent has been sentenced to five years in prison after he was convicted of providing fraudulent workers’...
New York Jury Convicts Lawyer, Doctor in $31M Trip-and-Fall Insurance Fraud
Dec 19 2022 // A New York attorney and surgeon were convicted by a Manhattan jury of six counts of fraud for participation in an illegal scheme that included false insurance claims and unnecessary surgeries for alleged injuries from...
New York Enacts Law Protecting Hate Crime Victims in Insurance Dealings
Dec 14 2022 // New York Governor Kathy Hochul has signed legislation (S.7658-B/A.8869-B) to protect individuals and organizations that are victims of hate crimes from unfair insurance practices. The new law prohibits insurers from...
Increased Car Accidents? Blame Weather, Time of Day—Not Pot Decriminalization
Dec 12 2022 // Actuarial research released last week suggests that marijuana decriminalization is not associated with a notable increase in traffic accidents or accident severity. Temporal patterns of human activity (such as yearly,...
Former California Insurance Agent Sentenced for Theft
Dec 9 2022 // Francis Okyere, 70, a previously licensed insurance agent in Westlake Village, California, was sentenced this week after pleading no contest to 17 felony counts of identity theft and grand theft by false pretenses. A...
Unlicensed Contractor, Deputy Sheriff in Florida Charged in Insurance Fraud Cases
Dec 8 2022 // An unlicensed contractor and a deputy sheriff in Florida have been charged in separate incidents of contracting fraud and insurance fraud, state and local authorities said. Ty Lamonte Hillman was arrested this week after...
Fraudulent Funds Transfer, Ransomware Are Main Drivers of Cyber Loss: Corvus
Dec 7 2022 // According to new data from Corvus Insurance, fraudulent funds transfer (FFT) continues to generate substantial losses for organizations. FFT comprised 36% of of the company’s cyber claims – an all-time high –...
Former Wirecard Executives in the Dock as Germany’s Biggest Fraud Trial Begins
Dec 6 2022 // Former Wirecard executives go on trial on Thursday, two years after the collapse of the payments company that produced Germany’s biggest post-war fraud scandal and sent shockwaves through the country’s...
Heightened Penalties for Arson, Retail Theft in North Carolina Now in Effect
Dec 6 2022 // Tougher penalties for certain types of arsons and large-scale thefts at stores in North Carolina are among all or portions of 10 new state laws approved by the General Assembly this year that will take effect on...
People Moves: Hartford Chief Sustainability Officer; Amwins New Transportation Role; Deputy Exec Director at Coalition Against Insurance Fraud; Chubb Names N.A. Financial Lines President
Dec 5 2022 // The Hartford Names Shields Chief Sustainability Officer The Hartford has appointed Terence Shields to the newly created role of chief sustainability officer. Shields will lead the Office of Sustainability as it guides...
Washington Contractor Faces Felony Theft Charge in Reported Workers’ Comp Scam
Dec 5 2022 // An Everett, Washington, man reportedly caught remodeling homes while claiming he was too injured to work has been charged with felony theft in a workers’ compensation fraud case. Terry Lee Dawson, 62, is accused of...
Massachusetts Insurance Agent Sentenced for Disability Fraud
Dec 2 2022 // The former owner and operator of an Arlington-based insurance agency was sentenced earlier this month for fraudulently receiving disability benefits from the Department of Veterans Affairs (VA) and the Social Security...
California Labor Commissioner Cites Car Wash $900K for Wage Theft
Dec 1 2022 // The California Labor Commissioner’s office cited Shine N Brite Car Wash $908,998 for wage theft violations affecting 15 workers. The Los Angeles-based employer was cited for minimum wage, overtime and rest break...
