fraud

The U.S. Department of Justice has filed a civil forfeiture complaint seeking to claim more than $225 million in cryptocurrency allegedly connected to international investment fraud schemes. The action marks the largest crypto seizure to date involving so-called "confidence scams," in which...

Alex Konanykhin, CEO of cryptocurrency company Unicoin, denounced the Securities and Exchange Commission lawsuit against his company on Wednesday, calling the allegations “blatantly false.” What Happened: In a LinkedIn post, Konanykhin expressed shock and disappointment over the...

The U.S. government is hemorrhaging hundreds of billions of dollars every year to fraud, a chunk of which is leeched by sophisticated overseas digital crime rings using stolen identities. What Happened: The Government Accountability Office estimates up to $521 billion in fraud losses annually, but...

Alex Mashinsky, the founder and former CEO of the now-collapsed cryptocurrency lender Celsius Network, was sentenced to a 12-year prison term for securities and commodities fraud on Thursday. What Happened: The sentencing was delivered by U.S. District Judge John Koeltl in Manhattan...

Scammers impersonated Saudi Arabia's Crown Prince Mohammed bin Salman to promote a fraudulent meme coin on Monday. What happened: In now-deleted posts, the X account of the Saudi Law Conference was hacked to shill the so-called Official Saudi Arabia Memecoin.  The now-deleted posts revealed...

In a significant data security incident, 5 million credit and debit card numbers, along with customers’ financial records and personal details, have been exposed, raising the risk of financial fraud and identity theft for millions of Americans. What Happened: The data security company Leakd ...

Alex Mashinsky, the disgraced founder and ex-CEO of cryptocurrency lender Celsius Network, admitted guilt to two counts of fraud on Tuesday. What Happened: Despite his initial plea of not guilty, Mashinsky confessed to two of the seven charges during a hearing before a U.S. District Judge,...

Caroline Ellison, a key accomplice of fallen cryptocurrency mogul Sam Bankman-Fried in the FTX scandal, was sentenced to 24 months in prison by a federal court on Tuesday. However, apart from the quantum of punishment, the remarks made by Judge Lewis Kaplan, who also presided over Bankman-Fried...

B. Riley Financial Inc. (NASDAQ:RILY) shares are currently trading at around $8.08, down more than 52.54% at last check Monday, after reports circulated that its second-quarter earnings would be delayed as regulators probe the Los Angeles-based boutique bank.Trading was temporarily halted at 9:33 a...

The Department of Justice has nabbed two men from Florida for smuggling firearms and other military equipment into Colombia. Jordan Guy MacDonald Goudreau, 48, of Melbourne, Florida, and Yacsy Alexandra Alvarez, 43, of Tampa, Florida, were arrested Tuesday following an indictment charging them with...

Do Kwon, the disgraced co-founder of Terraform Labs, is set to be extradited from Montenegro to South Korea, as per a court ruling. The decision rejects a U.S. extradition request. What Happened: The Appellate Court of Montenegro upheld a previous decision by the High Court of Podgorica to hand...

Billionaire and former Glencore CEO Alex Beard charged with corruption in UK along with four others, accused of making corrupt payments in West Africa. A British billionaire who made a fortune while working for a top commodities company was charged with corruption on Thursday. The company...

Visa Inc (NYSE:V) has successfully leveraged artificial intelligence and machine learning to prevent $40 billion in fraudulent activities, according to a company executive. What Happened: James Mirfin, global head of risk and identity solutions at Visa, informed CNBC that the company has utilized...

Roger Ver, a prominent figure in the early days of Bitcoin (CRYPTO: BTC) and known as “Bitcoin Jesus,” has been arrested in Spain and charged with mail fraud, tax evasion, and filing false tax returns. The U.S. Department of Justice alleges that Ver evaded nearly $50 million in taxes....

The ongoing civil fraud trial involving former President Donald Trump in New York City has brought to light the substantial fees charged by expert witnesses defending him.  What Happened: On Friday, key witness Eli Bartov, an expert in the trial, revealed his compensation to be around $...