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fraud

Pirate Bay co-founder Warg charged with hacking, fraud

Wed, 17/04/2013 - 11:34 by Neka Sehgal
The Pirate Bay founder Svartholm Warg in a major legal soup

The future of Gottfrid Svartholm Warg, a co-founder of popular file sharing website The Pirate Bay is certainly looking bleak! After his high profile arrest in Cambodia last September, Warg has now been accused with hacking and stealing money.

Kenneth Starr, celebs' financial adviser, jailed for fraud

Thu, 03/03/2011 - 15:34 by NeelamGoswami

Kenneth Starr, a renowned former New York financial adviser who managed funds for high net-worth business executives and celebrity clients, has been sentenced to more than seven years in prison for creating a multimillion-dollar investment scheme to defraud his clients.

Science council takes on research fraud

Thu, 07/10/2010 - 09:36 by Prince damin

Stockholm, Sweden -- The Swedish Research Council says it will take strong action against researchers and scientists who are found to have committed research fraud.

In a release Wednesday, the council said researchers who are guilty of plagiarism, falsification or inventing results face loss of current and future funding.

Any researcher deemed to have deviated from good academic practice or to be academically fraudulent will be barred for up to 10 years from applying for grants from the council, and disbursement of already granted funding will be terminated.

The Debit Card vs Credit Card

Tue, 28/09/2010 - 12:46 by Gunjan Mehra

Although, there are many alternatives to cash like the credit and the debit cards, the common man is yet to understand the nitty-gritty involved in their usage.

Rapper DMX back behind bars

Tue, 27/07/2010 - 08:54 by Natalie James

Rapper DMX is back behind bars! The troubled rap star surrendered to a judge Monday to begin serving a 90-day jail sentence stemming from a 2002 reckless driving charge.

Lindsay Lohan in legal soup over unpaid bills

Thu, 01/07/2010 - 17:08 by Sophie Anderson

The Mean Girls star has indeed been very mean for she has not paid for clothing, jewellery and other fashion accessories which she purchased from Tough as Nails Boutique.

2 Executives charged in 'sweetheart deal'

Tue, 15/06/2010 - 11:01 by Pankaj Damin

New York -- The U.S. Justice Department said Monday it had indicted a former Aeropostale Inc. executive and the owner of a supply company on fraud and theft charges.

The charges, unsealed in a federal court in Brooklyn, say Christopher Finazzo, former executive vice president and chief merchandising officer for Aeropostale, was paid $14 million for channeling $350 million in business to South Bay Apparel Inc., owned by Douglas Dey, who was also indicted.

U.S. Attorney Loretta Lynch said, Finazzo and Dey "entered into a fraudulent arrangement to steal millions of dollars from Aeropostale, while at the same time causing Aeropostale to make false statements to its shareholders."

Illinois couple guilty in Best Buy fraud

Fri, 04/06/2010 - 09:53 by Pankaj Damin

Mineeapolis -- A federal jury in Minneapolis Thursday convicted an Illinois couple of bilking U.S. electronics retailer Best Buy out of $41.6 million and not paying taxes.

The Minneapolis Star Tribune said Russell Cole, 50, and Abby Cole, 53, who owned a company called Chip Factory, routinely overbilled Best Buy for computer repair parts for four years through an online auction program with the help of Best Buy insider Robert Bossany, who pleaded guilty last year.

Bossany pleaded guilty in 2009 to one count of mail fraud conspiracy and one count of money laundering.

S. Florida man arrested in $40M Ponzi scam

Fri, 04/06/2010 - 01:08 by Pankaj Damin

Miami -- A South Florida man accused of fraud, Louis Felipe Perez, used a flashy lifestyle to convince investors their money was safe with him, court papers say.

Court papers allege Perez scammed $40 million from Hispanic investors, telling them they would receive returns of up to 120 percent on their investments, the South Florida Sun-Sentinel reported Thursday.

Perez is facing criminal charges and a lawsuit filed by the U.S. Securities and Exchange Commission.

"To gain the trust of prospective investors, Perez … bolstered his own image with lavish spending, including extensive personal use of limousines, extravagant dinners and bodyguards," the SEC lawsuit states.

Sellers of fake antivirus software indicted

Sun, 30/05/2010 - 13:26 by Jamie Anderson

Three men, one Swede and two Americans, have been accused of duping scores of people and pocketing over US$100 million by selling harmful "scareware" antivirus.

Minnesota man pleads guilty to $190M fraud

Wed, 14/04/2010 - 09:39 by Pankaj Damin

Minneapolis -- A Minnesota man pleaded guilty in federal court to running a $190 million Ponzi scheme Tuesday, court papers say.

Trevor Cook admitted that he bilked investors of funds he said would generate 10 percent to 12 percent in annual returns from foreign currency trading. Instead, the funds went to a variety of other uses including making payments to other investors, buying two trading firms, purchasing land in Panama and paying large gambling debts, the Justice Department said.

About 1,000 people were taken in by the fraud that ran from January 2007 through July 2009.

Cook, to be sentenced at an undetermined date, could receive a 20-year prison sentence, the Justice Department said.

SEC gets tough, Greenburg to pay $1.5M

Fri, 07/08/2009 - 13:38 by Jaspreet Virk

New York, August 7: Indicted for artificially inflating earnings between 2000 and 2005, Maurice "Hank" Greenberg, who led American International Group Inc. (AIG) for 38 years until his ouster in 2005, has agreed to pay $15 million penalty to settle fraud charges, the Securities and Exchange Commission (SEC) said Thursday.