fraud

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SEC: Buzzy Start-Up Founder Committed 'Old-School Fraud'

Charlie Javice is charged in connection with her sale of Frank to JPMorgan Chase

(Newser) - The tables have turned for Charlie Javice, who landed a spot on Forbes' 30 Under 30 list and sold her college financial planning platform, Frank, to JPMorgan Chase for $175 million. On Tuesday, the DOJ and SEC charged the 31-year-old with criminal and civil fraud charges in relation to the...

Principal Quits After Being Scammed by Fake Elon Musk

She wrote $100K check after months of communicating with fraudster

(Newser) - The principal of a charter STEM school in Florida resigned this week after saying she had been taken in by a scammer pretending to be Elon Musk. "I am a very smart lady. Well-educated. I fell for a scam," Dr. Jan McGee told a board meeting, per WESH...

Fugitive 'Cryptocrash' Boss Is Arrested in Montenegro

Do Kwon of Terraform Labs faces charges in 2 countries over $42B crash

(Newser) - A cryptocurrency boss facing fraud charges in the US and South Korea has been arrested far away from both in Montenegro. Terraform Labs founder Do Kwon, charged in connection with the $40 billion collapse of the firm's cryptocurrency, has been wanted in South Korea since September. He and another...

Scathing Report Accuses Jack Dorsey of Fraud

Short seller Hindenburg says his Block mobile payment company has inflated user numbers

(Newser) - Earlier this year, the short seller Hindenburg Research accused an Indian conglomerate of shady business practices and caused its stock to plunge. On Thursday, Hindenburg was giving the same treatment to Jack Dorsey, the former CEO of Twitter who now runs the mobile payment company Block. Hindenburg says Block, formerly...

Feds Charge Bannon Ally in $1B Fraud

Guo Wengui accused of defrauding investors, laundering funds

(Newser) - A billionaire who fled China before he could be arrested on charges including fraud in 2014 has been charged with fraud in the US. Guo Wengui, a close ally of former Trump adviser Steve Bannon, was arrested on federal charges early Wednesday at his $32 million Manhattan apartment, ABC reports....

Man Sues Buffalo Wild Wings, Says Its Wings Are Bogus

Because the chain's boneless wings are really made from chicken breasts

(Newser) - A Chicago man who expected he was eating boneless chicken wings while dining at Buffalo Wild Wings says what he got was a whole lot closer to chicken nuggets—and he filed a class-action suit Friday over what he alleges is fraud. Aimen Halim says he ordered "boneless wings"...

An Ex-Roommate of Santos Emerges With New Allegation

Gustavo Ribeiro Trelha says congressman was the one behind his 2017 ATM fraud scheme

(Newser) - A man convicted of fraud in a 2017 credit card skimming scheme in Seattle is now blaming a familiar name for setting the entire operation up. "I am coming forward today to declare that the person in charge of the crime of credit card fraud when I was arrested...

Feds Say Software CEO Stole Millions While Workers Went Unpaid

Slync's Chris Kirchner charged in $67M fraud

(Newser) - The co-founder and former CEO of logistics software company Slync is accused of scamming investors for tens of millions of dollars to live a lavish lifestyle while employees went unpaid. Chris Kirchner, 35, is accused of misappropriating $28 million between March 2020 and August 2022, when he was ousted by...

Musk Celebrates Verdict: 'Wisdom of the People Has Prevailed!'

Jurors decide Musk didn't defraud Tesla investors with 2018 posts about EV automaker

(Newser) - A jury on Friday decided Elon Musk didn't defraud investors with his 2018 tweets about electric automaker Tesla in a proposed deal that quickly unraveled and raised questions about whether the billionaire had misled investors. The nine-member jury reached its verdict after less than two hours of deliberation following...

Billionaire's 413-Page Rebuttal Doesn't Help

Stock rout of Gautam Adani's business empire in India continues amid allegations of fraud

(Newser) - India's richest man continues to become less rich by the day as he confronts allegations of fraud related to his business empire. Gautam Adani's Adani Group issued a 413-page rebuttal to the accusations raised by the US firm Hindenburg Research . The latter accused Adani, one of the richest...

26 Years Ago, She Stole $600K and Fled. Now, an Arrest

Ex-bank teller who got plastic surgery before going on the run is captured in China

(Newser) - Even plastic surgery to help hide her identity couldn't keep persistent authorities from finally tracking down a bank teller who stole hundreds of thousands of dollars from her employer more than 25 years ago. Vice reports on the story out of China, which starts in 1997 in Yueqing. At...

He Infamously Faked Being a Doctor. Now, a New Scheme

Malachi Love-Robinson handed a 28-month sentence over theft from employer

(Newser) - A serial grifter who gained national infamy as a teenager when he impersonated a doctor to defraud a patient is heading back to prison after pleading guilty to stealing more than $10,000 from his employer. Malachi Love-Robinson, 25, received a sentence of over two years and four months last...

Feds Nab Pastor, Son in Alleged $8.4M COVID Scam

Evan and Josh Edwards accused of setting up fake ministry, trying to buy posh home near Disney

(Newser) - In early July, NBC News filed a report about a Florida pastor and his family, accused by federal prosecutors in late 2020 court papers of pulling off a big-bucks COVID relief scam. "Why haven't they been charged?" the news outlet asked regarding the "curious" case. That question...

Sponsor of 'Don't Say Gay' Bill Accused of COVID Relief Fraud

Florida state Rep. Joe Harding indicted on wire fraud, money laundering charges

(Newser) - The Florida lawmaker who sponsored what became known as the " Don't Say Gay" bill is in legal trouble deeper than anything he would face for discussing sexual orientation in the state's primary schools. State Rep. Joe Harding, a Republican who represents a district south of Gainesville, is...

Prosecutors Whip Out Surprise Document in Trump Org Trial

Paperwork signed by Trump shows he 'explicitly' sanctioned firm's tax fraud scheme, they argue

(Newser) - On Monday, jurors are set to begin deliberating in the Trump Organization's criminal trial , and they now have a new piece of evidence to mull over the weekend regarding Donald Trump himself. On Friday in New York State Supreme Court in Manhattan, prosecutors in the trial, which revolves around...

Chrisleys to Appeal Sentence, Say Government Lied

Reality TV couple 'optimistic' after getting years behind bars on fraud, tax evasion

(Newser) - Todd and Julie Chrisley think they know best about what punishment they should receive after their convictions on bank fraud, tax evasion, and other charges—and it's not the prison sentences that were handed down this week . Todd Chrisley, 53, one half of the USA Network's Chrisley Knows ...

Employee Charged With Defrauding Apple of $10M
Ex-Employee Admits to
Defrauding Apple of $17M
UPDATED
Nov 2, 2022 12:58 AM CDT

Ex-Employee Admits to Defrauding Apple of $17M

Dhirendra Prasad worked as a buyer in the supply chain

(Newser) - Update: A former Apple employee pleaded guilty Tuesday to defrauding the tech giant out of more than $17 million over seven years while he worked as a buyer for Apple's Global Service Supply chain, federal prosecutors said. Prasad admitted the fraud involved “taking kickbacks, inflating invoices, stealing parts,...

Georgia Inmate Allegedly Stole Millions From Billionaires

Arthur Cofield allegedly used contraband phone to impersonate movie mogul Sidney Kimmel

(Newser) - A Georgia inmate serving time in a maximum security unit for armed robbery became a much more sophisticated criminal behind bars, using contraband phones to impersonate at least one billionaire and steal more than $10 million, authorities say. Federal agents believe 31-year-old Arthur Lee Cofield Jr. convinced customer service representatives...

New Estimate of Theft From Unemployment: $45.6B

Pandemic crimes prosecutor calls it 'unprecedented fraud'

(Newser) - The federal government has a revised estimate of the amount of money the US unemployment insurance program lost through fraud during the pandemic: $45.6 billion. Criminals collected the money between March 2020 and April 2022 through such tactics as using the Social Security numbers of dead people, CNN reports....

Nonprofit Founder, 46 Others Charged in $250M Scheme

It's the biggest pandemic-related fraud case to date

(Newser) - Federal prosecutors indicted 47 individuals in Minnesota on Tuesday in a sprawling $250 million scheme described as the largest pandemic-related fraud case to date. According to the Minneapolis Star Tribune, the Minnesota-based nonprofit Feeding Our Future "was at the center of each indictment," which included charges of wire...

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