fraud

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'Dead' Fraudster Jailed After Court Appearance

Resurrection is no miracle, judge decides

(Newser) - A Virginia man who had himself declared dead in a bid to dodge fraud charges might have gotten away with it if he hadn't tried to pull off more frauds from "beyond the grave." Rodney Newsome was jailed yesterday after turning up alive and well to a court...

Imposter Tricks Army to Become an Officer

26-year-old with no experience put in position to lead troops

(Newser) - A Texas man with no military experience managed to trick the Army into letting him enter a reserve unit as a noncommissioned officer earlier this year, putting an untrained soldier in a leadership position in a time of war, an AP investigation has found. Jesse Bernard Johnston III, 26, joined...

6 Most Infamous Harvard Swindlers

Adam Wheeler may be the latest, but he's not the worst

(Newser) - Adam Wheeler, the former Harvard student charged with plagiarizing his way into the school and swindling $45,000 in scholarship and grant money, isn't the first grifter to pass through the esteemed university's halls. AolNews lists six even more infamous Harvard fraudsters:
  1. Esther Reed: Went by Natalie Bowman when she
...

Goldman Sachs to Change Its Ways

Announces change to policies for institutional investors

(Newser) - With federal pressure at an all-time high, Goldman Sachs is planning to change its policies for dealing with institutional clients, a move which could presage an attempt to settle the SEC's fraud suit against it. Goldman would now instruct employees to ensure clients fully understand the risks associated with whatever...

Goldman Love Letters at Heart of SEC Case

Fooling 'widows' part of emailed sweet nothings

(Newser) - If there's anything Goldman Sachs bond trader Fabrice Tourre has learned it's: 1.) Don't rip off the public, and 2.) Above all, don't brag about it in love emails on a company computer to your gal pal. Tourre is the only individual named in the SEC fraud action...

Critics Rip White House Links to Goldman Sachs

Foes concerned about ties that blind

(Newser) - As the SEC builds its case charging Goldman Sachs with defrauding thousands of consumers, critics continue to hammer at White House links to the firm. Goldman Sachs CEO Lloyd Blankfein met twice with President Obama and twice with economic aide Larry Summers while SEC investigators probed the company. A White...

Post-Madoff SEC Bites Goldman Sachs


 Post-Madoff SEC 
 Bites Goldman Sachs 
analysis
Apr 18, 2010 4:50 PM CDT

Post-Madoff SEC Bites Goldman Sachs

After Ponzi scheme debacle, regulator is back, with bigger fangs

(Newser) - Having let the Madoff scandal unfold virtually under its nose, the SEC sounded an alert with the announcement of its lawsuit charging Goldman Sachs with fraud. "The message: The SEC is back on the job," Greg Gordon writes for McClatchy . "The release is very judgmental about the...

Goldman Withers in SEC Spotlight

 Goldman Withers 
 in SEC Spotlight 
OPINION roundup
Apr 16, 2010 1:14 PM CDT

Goldman Withers in SEC Spotlight

Fraud charges kneecap stock price; observers play wait-and-see

(Newser) - The SEC's civil suit against Goldman Sachs is hardly a slam-dunk, experts agree, but the scrutiny is certainly not doing the firm any good . Some reactions:
  • This "is explosive stuff," Felix Salmon blogs for Reuters . "Goldman Sachs has lost more than $10 billion in market capitalization today,
...

Heads, Torsos Found in Medical Waste Shipment

Company claimed it had cremated them

(Newser) - Police have arrested the owner of a company they say claimed to cremate bodies, but instead dismembered them and dumped them as medical waste. The saga began when seven human heads and torsos, which appeared to have been cut up with a chainsaw or something similar, were found inside of...

NY Art Dealer Cops to Scamming De Niro, McEnroe

Salander pleads guilty to $120m ripoff

(Newser) - Disgraced New York art dealer Lawrence Salandar pleaded guilty yesterday to ripping off customers and investors to the tune of $120 million. Salander sold paintings that didn't belong to him and the same paintings to multiple buyers. Salander, who filed for bankruptcy in 2008, will serve between 6 and 18...

Feds Link 68 Fatal ODs to Kansas Clinic

Doc, nurse wife defrauded health plans with illegal prescriptions

(Newser) - A new federal indictment implicates a Kansas doctor and his wife in nine additional patient deaths, bringing to 68 the number of fatal overdoses the government contends are linked to illegal prescription writing and a moneymaking conspiracy at their clinic. Dr. Stephen Schneider, his wife Linda, who is a nurse,...

French Nailed for Selling Fake Pinot to Gallo

E and J Gallo unwittingly sold fake Red Bicyclette

(Newser) - French winemakers have been convicted in a massive scam to dupe unwitting Yanks by passing off 18 million bottles of a cheaper wine as Pinot Noir. The French producers sold the wine to major US buyer E and J Gallo for its popular Red Bicyclette brand. By calling a cheaper...

Cuomo Files Civil Charges Against Ken Lewis, BofA

New York AG says bank misled investors on Merrill Lynch

(Newser) - New York Attorney General Andrew Cuomo is filing civil charges against Bank of America and former CEO Ken Lewis, saying the bank misled investors about Merrill Lynch when it acquired the Wall Street bank in late 2008. Civil charges also were being filed against Joe Price, the bank's former chief...

'Climategate' Scientist Faces New Fraud Claims

Data behind some work of Jones work can't be verified

(Newser) - The British scientist accused of ignoring data in order to make climate change look more dire—and whose leaked emails ignited the so-called “Climategate” scandal—faces new fraud claims tonight after a newspaper’s investigation found that some data was seriously flawed, and that documents backing up the research...

Cops: Con Man Scammed $140K From Online Dates

Posed as multimillionaire pal of George Bush

(Newser) - A New York lothario posing as a multimillionaire Navy commander and confidante of George Bush scammed close to $140,000 from women he met on online dating sites, according to Westchester authorities. After cultivating relationships with women met on sites like Match.com, Jesus Nasser asked for loans, explaining that...

Dem Ex-Con Traficant Mulls Another House Run

Populist former representative wants back in after 7 years for fraud

(Newser) - Jim Traficant is betting his brand of populism has survived the 7 years he’s been away from Ohio politics, and is exploring a run for the House of Representatives that spooks both parties. Traficant says the recent victory of Republican Scott Brown in Massachusetts is indicative of popular outrage,...

Casey Anthony Pleads Guilty to Fraud

Fla. woman charged with daughter's murder sentenced to time served

(Newser) - Casey Anthony pleaded guilty to check fraud today and was sentenced to time served and ordered to pay court costs. Anthony remains jailed awaiting trial on first-degree murder charges in the 2008 death of her toddler daughter, Caylee. At around the time Casey Anthony told police Caylee had disappeared, she...

Yoga Guru Actually Cultmaster: Lawsuit

Former employees allege fraud, grueling physical trials

(Newser) - Former employees of a worldwide yoga chain allege its founder is actually the leader of a cult that demands cash and torturous exercise from those caught in its spell. Dahn Yoga, founded by Ilchi Lee, operates more than 100 locations in the US and more than 1,000 internationally, and...

Thieving Employees Do Brisk Business in Gift Cards

Lower-risk way to steal from the boss

(Newser) - Employee fraud, which accounts for a large and growing chunk of the total $36 billion a year the retail industry loses to theft, is increasingly taking the form of gift cards: easy to walk out of a store with, and easy to redeem without showing ID. With overall employee theft...

AT&T Resumes Web Sales of iPhones in NYC

Network issues may still be reason for blocking transactions

(Newser) - AT&T has lifted its ban on selling New York City residents iPhones online, but the reason for the shutdown remains unclear. Customer service reps at first said New York was not "ready for the iPhone," then offered nebulous explanations about "increased fraudulent activity" in the area....

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