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Financial Fraud

Craigslist Scam: Bay Area Man Sentenced in Craigslist Armed Robbery Case

Brian David Crane | Posted 06.06.2016 | Crime
Brian David Crane

Last year, Tuan Ngoc Luong, was arrested in connection to an armed robbery that happened after the victim contacted him on Craigslist to purchase a ca...

Purdue Pharma: Corporate Fraud With a Body Count

Kathleen Frydl | Posted 05.18.2016 | Politics
Kathleen Frydl

All the major features of Purdue's handling of OxyContin conform to similar acts of corporate fraud perpetrated in recent years. Still the story is peculiar in some key respects. Many times corporate fraud originates in some fairly innocent business model. Not so with OxyContin, a dubious affair from the start.

Wall Street Exec Tried To Scam People With ‘Brazen’ $95 Million Fraud, Feds Say

The Huffington Post | Ben Walsh | Posted 03.28.2016 | Business

A banker has been arrested and charged for trying to defraud investors out of $95 million, federal authorities said Monday. Andrew Caspersen, a partne...

The Case for Taxing Securities Transactions

FIXCapitalism | Posted 01.15.2017 | Business

One way for the Federal Government to raise more tax money and do some good in the process is to place a financial transaction tax (FTT) on the purchase and sale of securities.

The Core of Wall Street Is Rotten

Dan Solin | Posted 12.29.2016 | Business
Dan Solin

A list of the largest bank settlements complied by the Wall Street Journal includes Wells Fargo, Bank of America, Ally Financial, Credit Suisse, HSBC Holdings, UBS, Goldman Sachs and Morgan Stanley. Was all this conduct "not intentional"?

Financial Fraud and Divorce

Divorce Magazine | Posted 10.02.2016 | Divorce
Divorce Magazine

There are warning signs that your spouse may have committed financial fraud in your marriage; the greater the number of red flags, the more likely that there is something fishy about the family's finances.

4 Tips to Protect Seniors Against Fraud and Identity Theft | Posted 07.22.2016 | Fifty

Although most anyone can be a target of fraud and identity theft, senior identity theft is on the rise and those ages 50+ are often in the cross-hairs of scammers. The U.S. government is taking steps to help circumvent the high level of fraud aimed at seniors, but it can only do so much -- and progress in this area has been fairly slow.

The Huge SIPC Risk Your Broker Isn't Disclosing

Laurence J. Kotlikoff | Posted 09.16.2014 | Money
Laurence J. Kotlikoff

Your broker has a duty to disclose all risks from investing with him and his company. He also has an obligation to tell the truth. If he misleads you, including failing to disclose a major risk to your investment, you can sue him personally.

Zach Carter

What Do Chase Bank, Condoms, The Tea Party, And Petty Fraud Have In Common? | Zach Carter | Posted 03.31.2014 | Politics

In mid-March, a division of JPMorgan Chase rejected an application to process payments for the fledgling New York City condom company Lovability, citi...

Setting the Record Straight: BofA's Rebecca Mairone Found Liable for Fraud

L. Randall Wray | Posted 09.19.2014 | Business
L. Randall Wray

Bank of America specialized in making mortgages with terms that the loan officers and executives like Mairone knew the borrowers could not possibly service. Fraud was the business model. Foreclosure was the expected result.

Why Are Appraisers Furious at Fraud by Their Peers While Corporate Lawyers Are Complacent?

William K. Black | Posted 10.12.2013 | Business
William K. Black

I know that the public won't find it strange that elite Wall Street lawyers could not muster a single hero while the appraisers produced tens of thousands. The public does not expect much from Wall Street lawyers.


Richard (RJ) Eskow | Posted 09.18.2014 | Politics
Richard (RJ) Eskow

It's a real-life disaster movie, one that's left neighborhoods in ruins all across the country, killed thousands of people, and ruined millions of lives. You might call it a "Banknado."

How to Spot and Prevent Senior Financial Fraud

Jim T. Miller | Posted 08.17.2013 | Fifty
Jim T. Miller

Spotting a scam or a con artist is not always easy to do. They range from shady financial advisers to slick-talking telemarketers to professional caregivers and relatives who steal from the very people they're supposed to be looking after.

The Importance of Ensuring Older Adult Financial Security

John Taylor | Posted 07.29.2013 | Politics
John Taylor

After the irresponsible lending and nefarious practices that led to the crash of the economy and the housing crisis, it is the moral responsibility of financial institutions and regulators to right the ship and do right by older adults, and indeed by all consumers.

'Pervasive' Fraud by Our 'Most Reputable' Banks

William K. Black | Posted 04.30.2013 | Business
William K. Black

A recent study confirmed that control fraud was endemic among our most elite financial institutions. The key conclusion of the study is that control fraud was "pervasive."

Eleazar David Melendez

Is This The Next AIG? | Eleazar David Melendez | Posted 02.14.2013 | Business

A crucial change in the way financial derivatives are packaged and sold on Wall Street is enabling traders to bypass new regulations aimed at limiting...

Eleazar David Melendez

Bankers Who Made Millions In Housing Boom Misled Investors: Study | Eleazar David Melendez | Posted 02.13.2013 | Business

Bankers who made billions of dollars packaging home loans into bonds during the prime years of the housing boom provided false information to investor...

Eleazar David Melendez

Bankers Giddy After SOTU Speech | Eleazar David Melendez | Posted 02.13.2013 | Business

President Barack Obama’s failure to mention financial reform during Tuesday night’s State of the Union address is a disappointing setback that sho...

France's 75% Millionaires Tax and America's Insidiously Crafted Two Tiered Law Enforcement

Raymond J. Learsy | Posted 10.12.2012 | Business
Raymond J. Learsy

If the rule of law is not applied equally, whereby a teenager harboring a pack of marijuana gets jail time while executives who cashed in millions pedaling fraudulent financial instruments remain untrammeled, the very edifice of America begins to crumble.

Report: Cheaters Get 'High' From Breaking The Rules

The Huffington Post | Harry Bradford | Posted 08.07.2012 | Business

Forget about the notion of a guilty conscience. Cheating actually feels good, according to a new study. Breaking the rules dishonestly doesn't resu...

How Peregrine Financial Got Around A Law Designed To Prevent Corporate Fraud

Reuters | Posted 09.28.2012 | Business

By Kevin Drawbaugh and Dena Aubin July 29 (Reuters) - When Peregrine Financial collapsed earlier this month, a nagging question resurfa...

Watchdog Scolded For Taking Brokers At Their Word Amid 20 Year Fraud

Reuters | Posted 09.17.2012 | Business

* NFA let firms verbally pledge to do better-2002 report * CFTC report called practice troubling * Report came during mi...

Disgraced CEO May Have Bought Private Jet, Wine Collection With Stolen Money

Reuters | Posted 09.19.2014 | Business

By Ann Saphir CHICAGO, July 18 (Reuters) - Peregrine Financial Group CEO Russell Wasendorf Sr., who last week confessed to bilking fu...

D.M. Levine

Former PFG Employee 'Was Waiting For Something Like That To Happen' | D.M. Levine | Posted 07.16.2012 | Business

When Leon Bressert first heard that his former employer, Peregrine Financial Group, had collapsed amid fraud allegations, he was not surprised. “I w...

How One Watchdog Missed Blatant Fraud For 20 Years

Reuters | Posted 09.12.2012 | Business

* 20-year-fraud raises questions about NFA oversight * Sources say NFA auditors typically new college grads * NFA offici...