fraud

Turkish police detained 62 people in an investigation related to the cryptocurrency exchange Thodex' fraud allegation earlier today. What Happened: According to Turkey's state-owned news agency Anadolu, there are 78 people involved in the Thodex case, but only 62 were...

SPACs are under attack. The Wall Street Journal today rounded up the short-selling activity surrounding special purpose acquisition vehicles, the path to going public that's in vogue these days. About 250 SPACs were launched in the U.S. last year and they've gotten hotter this year, drawing...

The United States Internal Revenue Service said in a statement on Monday it had identified multiple malicious actors taking advantage of the novel coronavirus (COVID-19) pandemic to make a profit. What Happened The IRS noted that the criminal activities extend beyond scamming taxpayers...

There’s nothing new about Nigerian prince scam emails – they usually follow the same pattern of someone needing help moving millions of dollars from an African country and the promise of a sizable cut of the money to the unfortunate victim. If you read through those emails, it is often...

Taro Pharmaceutical Industries Ltd (NYSE: TARO) former Vice President of Sales and Marketing Ara Aprahamian has been indicted by the Justice Department for price-fixing and bid-rigging on Tuesday, Reuters reported. What Happened? According to the Justice Department, a federal grand jury in the...

The owner of a U.S.-based online freight services company specializing in international transportation has been arrested on suspicion of orchestrating an investment scheme, according to prosecutors. Kamlesh Pardasani, 49, appeared in federal court in North Carolina on Jan. 7 on charges of...

Donald Tankersley, 76, former chief executive officer of White Dairy Ice Cream and Tankersley Foods in Van Buren, Arkansas, pleaded guilty to two counts of tax fraud in federal court on Sept. 20. He faces a maximum sentence of three years in prison for each charge, according to Duane Kees, the U.S...

The U.S. Justice Department said Richard Luthmann, an attorney located on Staten Island, N.Y., was sentenced by a federal court Sept. 9 to four years in jail for his role in conspiring to commit wire fraud and extortion in a scheme involving scrap metal shipments. Luthmann also was ordered by...

Federal officials have ordered Celadon to pay shareholders $42.2 million in restitution after the company's stock plummeted in the wake of ongoing investigations into the company's past accounting practices. The U.S. Attorney for the Southern District of Indiana announced on April 25...

Shares of Cheetah Mobile Inc (NYSE: CMCM) lost more than 30 percent Tuesday after a BuzzFeed News report alleged the China-based creator of global mobile apps is committing ad fraud. What Happened BuzzFeed reported Monday that Kochava, an app analytics company dedicated to uncovering global ad...

Hackers gained control of several verified Twitter accounts this month and used them to impersonate Tesla Inc (NASDAQ: TSLA) CEO Elon Musk and scam bitcoin users. What Happened The hackers changed the profile names and photos on the Twitter accounts to match Musk's. They used the accounts to...

What happens when you attempt to manipulate a stock and earn a $3,000 profit? Two years in prison.  What Happened Fitbit Inc (NYSE: FIT) stock spiked higher Nov. 10, 2016 amid reports the maker of fitness tracking products received a takeover offer. A SEC filing release showed that a...

Justice came for Martin Shkreli. The so-called “Pharma Bro” was sentenced Friday to 84 months in prison after having been convicted in August 2017 on two counts of securities fraud and one count of conspiracy to commit securities fraud. Prosecutors were looking for 15 years prison time...

Shares of MiMedx Group Inc (NASDAQ: MDXG) fell sharply lower on heavy volume after Citron's Andrew Left released a video explaining why the stock is worth just $3 as opposed to its current price north of $11 per share. MiMedx is "no stranger" to the controversy surrounding its medical devices,...

New research suggests that age-related neurological changes can make it difficult for older adults to detect suspicious behavior and other warning signs that people may be untrustworthy, potentially putting elders at higher risk for financial fraud.   In new studies involving people age 60 and...