Growing Fortune 500 firms much more likely to commit financial fraud than smaller struggling companies major study shows

Expanding Fortune 500 firms with spiking growth are more likely to commit financial fraud than smaller companies, according to a recent study published in Justice Quarterly. Researchers from Washington State University, Pennsylvania State University, and Miami University studied more than 250 U.S. public corporations that were involved in financial securities fraud identified in Securities and […]

Continue reading…

Deutsche Bank pays $130 million to settle SEC DOJ investigation into foreign bribes and manipulation of commodities markets

  Deutsche Bank Aktiengesellschaft (Deutsche Bank or the Company) has agreed to pay more than $130 million to resolve the government’s investigation into violations of the Foreign Corrupt Practices Act (FCPA) and a separate investigation into a commodities fraud scheme. According to admissions and court documents, between 2009 and 2016, Deutsche Bank, acting through its […]

Continue reading…

BlueCrest Capital Management hedge fund to pay $170 million to settle SEC charges for failure to disclose internal investment fund

BlueCrest Capital Management hedge Fund will pay $170 million to settle with the U.S. Securities and Exchange Commission over charges that it misled clients about an internal fund used to invest company insiders’ wealth, which was managed by the firm’s best traders, the SEC said Tuesday. The Securities and Exchange Commission said that the investigation […]

Continue reading…

DOJ’s Cryptocurrency Enforcement Network to attack criminal activities as reports of fraud and theft mount

A new U.S. Justice Department report is taking aim at the “emerging threats and enforcement challenges” associated with digital currencies, establishing a “Cryptocurrency Enforcement Framework” to address the massive uptick of fraud, criminal activity and theft in the Cryptocurrency trading including BitCoin and cybercurrency platforms. The Department of Justice says that while cryptocurrency could fundamentally […]

Continue reading…

United States sues Nutter Home Loans for forging certifications and using unqualified underwriters to ok Gov insured reverse mortgages

   The United States has filed a complaint under the Financial Institutions Reform, Recovery and Enforcement Act of 1989 and the False Claims Act against Nutter Home Loans, f/k/a James B. Nutter & Co. (Nutter), for forging certifications and using unqualified underwriters to approve Federal Housing Administration (FHA) insured Home Equity Conversion Mortgages (HECM). The […]

Continue reading…
financial fraud

“We Build the Wall” Online Fundraising Campaign Leaders Accused of Fraud

It was recently announced that four individuals involved with an online fundraising campaign called “We Build the Wall” have been charged with fraud. Brian Kolfage, Stephen Bannon, Andrew Badolato, and Timothy Shea are accused of defrauding hundreds of thousands of online donors for over $25 million.  The charging document alleges that the defendants defrauded hundreds […]

Continue reading…