Latest Fraud Headlines
All the headlines from our Fraud Topic Page, ordered by recency.
Architect of Allianz Fraud Made $60 Million as He Lied to Investors, U.S. Says
May 18 2022 // The star portfolio manager at the center of a fraud at the U.S. funds unit of Allianz SE relied on the German insurer’s good name to lure investors and thrived from a lack of oversight as he pocketed $60 million in...
California Business Owners Arraigned for Workers’ Comp Fraud
May 18 2022 // Three California business owners were arraigned for insurance fraud this week after an investigation reportedly showed they illegally conspired to lower workers’ compensation premiums. Troy Williams, 49, of Angels...
Allianz to Pay Over $6B for Structured Alpha Fraud, Former Fund Manager Indicted
May 17 2022 // Germany’s Allianz SE agreed to pay more than $6 billion and its U.S. asset management unit pleaded guilty to criminal securities fraud over the collapse of a group of investment funds early in the COVID-19...
Florida CFO Wants More Insurance Fraud Investigators, Education Campaign
May 16 2022 // Ahead of next week’s special legislative session, Florida’s chief financial officer is asking lawmakers for $6.5 million to fund 23 new investigative positions and to launch a public education campaign, part of...
U.S. Cities Are Backing Off Banning Facial Recognition as Crime Rises
May 12 2022 // Facial recognition is making a comeback in the United States as bans to thwart the technology and curb racial bias in policing come under threat amid a surge in crime and increased lobbying from developers. Virginia in...
Two Sentenced in Compounded Medicine Fraud Scheme
May 5 2022 // An Arkansas man and a Florida man have been sentenced to prison for their roles in giving kickbacks in compounded cream schemes that defrauded a government insurer of millions of dollars. Federal prosecutors said Brad...
Iowa Man Pleads Guilty to Insurance Fraud
May 4 2022 // D’Alan Thurmond, age 41, of Waterloo, Iowa pled guilty on April 25, 2022, to one count of Presenting False Information, a class “D” Felony, following an investigation by the Iowa Insurance...
U.S. SEC Ramps Up Crypto Fraud Oversight by Adding 20 Employees
May 3 2022 // The U.S. Securities and Exchange Commission (SEC) said on Tuesday it will add 20 positions to its enforcement unit for crypto markets in its push to curb fraudulent activities in the hot digital space. The securities...
Hard Drives Stolen During Break-in at Washington Department of Labor Regional Office
May 3 2022 // Hard drives, laptops, cellphones, office equipment, door access key cards, gas cards and other items were stolen during a recent burglary at the Washington State Department of Labor & Industries regional office in...
Colorado Jury Awards Nearly $9M in Fertility Fraud Case
May 2 2022 // A jury has awarded nearly $9 million to three families who accused a Colorado fertility doctor of using his own sperm to inseminate three mothers who requested anonymous donors. The jury found that Dr. Paul B. Jones and...
Florida Man Charged with Fraud After Claiming He Was in Uber Crash
May 2 2022 // A South Florida man has been charged in connection with what appears to be a new twist on auto insurance fraud. State and local authorities said that Victor Van Vickery, 33, of Delray Beach, claimed to be in a Uber ride...
Former California Insurance Agent Sentenced for Stealing Premiums
Apr 29 2022 // Formerly licensed insurance agent Narek Harutyunyan, 31, of Camarillo, California, was sentenced this week in Ventura County Superior Court on two felony counts of grand theft after Harutyunyan reportedly stole insurance...
Alabama Auto Shop Owners Design Anti-Theft Cages for Catalytic Converters
Apr 27 2022 // As the number of catalytic converter thefts has soared nationwide, one Alabama auto repair shop has begun building anti-theft cages that cover the pollution-control devices. Dean and Cory Parker, owners of Dean’s...
Photos Do Lie: Carolina Authorities Charge Two With Insurance Fraud for Fake Fires
Apr 25 2022 // North Carolina authorities have charged two men with fraud and theft after they submitted photographs of fires that never occurred. Antonio Collins, 32, of Greensboro, obtained $11,122 from State Farm Insurance after he...
UK Seizes Funds Linked to $150M Fraud From Fintech Firm QPay
Apr 22 2022 // The UK seized 2 million pounds ($2.61 million) from a London-based fintech firm, saying that the funds were linked to a $150 million U.S. wire fraud conspiracy. QPay Europe Ltd., which offers due diligence and underwriting...
Alabama Man Charged with Fraud After Hummer Found Buried
Apr 21 2022 // Alabama sheriff’s deputies this week arrested a man they say buried a Hummer six years ago after filing an insurance claim on the vehicle. Bruce Parnell was taken into jail in Washington County, in southwest Alabama,...
Former California Insurance Agent Arraigned for Stealing Premiums
Apr 20 2022 // Former California insurance agent Marc Leigh Miles, 71, formerly of Irvine, and currently residing in Eagle, Idaho, was arraigned on nine felony counts of grand theft, insurance fraud, and forgery after allegedly stealing...
U.S. Ties North Korean Hacker Group Lazarus to Huge Cryptocurrency Theft
Apr 19 2022 // The United States has linked North Korean hackers to the theft of hundreds of millions of dollars’ worth of cryptocurrency tied to the popular online game Axie Infinity, the U.S. Treasury Department said on...
Jury Convicts Massachusetts Agency Owner Quinn of Stealing Disability Benefits
Apr 18 2022 // The owner and operator of an Arlington, Massachusetts-based insurance agency has been convicted by a federal jury in Boston of fraudulently receiving government disability benefits. Patrick Quinn, an ex-Marine who said he...
Indiana Travel Agent Sentenced For Wire Fraud
Apr 18 2022 // Maria Caceres an Indiana travel agent was sentenced last week to 30 months in federal prison following her conviction of wire fraud, to which she had previously plead guilty. According to court records, the 56-year old...
