Are you looking to stay up to date with recent cases involving alleged fraud or theft throughout the United States? We have sourced some of the top cases from the FBI website, fbi.gov, which provides a great source of information.
Below you can review the most recent 2018 fraud cases referenced on the FBI’s website and throughout the internet.
Securities & Financial Fraud
Read Article: Former CFO of Arthrocare Corporation Sentenced to Prison for Role in $750 Million Securities Fraud Scheme
January 5, 2018
Austin, Texas – The former chief financial officer (CFO) of ArthroCare Corporation, a publicly traded medical device company based in Austin, Texas, was sentenced today to 50 months in prison for his role in orchestrating a fraud scheme that resulted in shareholder losses of over $750 million. The fraud scheme at ArthroCare began in 2005 and continued until 2009. Read More
Mortgage Fraud
Read Article: South Hills Man Sentenced to 6½ Years in Prison for Massive Mortgage Fraud Scheme
January 10, 2018
Pittsburgh – James Nassida, IV, age 50 of West Mifflin, Pennsylvania, has been sentenced in federal court to 78 months of incarceration on his conviction of conspiracy to commit bank fraud, wire fraud, and mail fraud.
According to information presented to the court, Nassida owned and operated a mortgage broker business called Century III Home Equity (Century III), which assisted borrowers in obtaining loans collateralized by real estate. At the time of the events at issue, which was between 2002 and 2008, Century III was one of the largest mortgage broker businesses in the Western District of Pennsylvania, and during the course of that timeframe brokered hundreds of millions of dollars worth of loans using more than a dozen different lenders. Many of those loans, however, involved one or more aspects of fraud. Read More
Financial Fraud
Read Article: Co-Conspirator Sentenced in Multi-Million Bank Fraud Scheme
January 12, 2018
Houston, TX – Gregory Roberson, 65, of Missouri City has been ordered to federal prison for perpetrating a scheme that caused a loss of more than $4 million to several local banks. U.S. District Judge Gray Miller, accepted the guilty plea, handed Roberson a 24-month sentence and ordered him to pay $3,081,942.14. The ringleader of the scheme, Andre Chenier, 44, of Houston, had previously been sentenced to 48 months in federal prison and ordered to pay more than $4.5 million in restitution. Both will also serve three years of supervised release following completion of their sentences. Read More
Opioids
Read Article: Pittsburgh Man Admits Guilt in Health Care Fraud Scheme
January 12, 2018
Pittsburgh, PA – Jeremiah Davidson, age 61, a resident of Pittsburgh, Pennsylvania pleaded guilty in federal court to one count of conspiracy to distribute oxycodone and oxymorphone, one count of health care fraud, and one count of perjury.
In connection with the guilty plea, the court was advised that Davidson obtained opioid prescription pain medication through physicians, often paid by taxpayer funded insurance programs, and sold the medication to a conspirator for later distribution to addicts. He arranged for the taxpayer funded insurance programs to pay for the pills by representing that he intended to use the medication for his own medical care when, in fact, he intended to sell the medication. Read More
Mortgage Fraud
Read Article: Former Roseville Developer Pleads Guilty to $22 Million Fraud
Jaunuary 12, 2018
Sacramento, Calif. — Abolghasseni “Abe” Alizadeh, 59, of Granite Bay, pleaded guilty to wire fraud, bank fraud and making false statements to a federally insured financial institution. According to court documents, Alizadeh, a Sacramento-area commercial real estate developer, restauranteur and owner of Kobra Properties, came up with a scheme to fraudulently purchase land that he planned to develop. Alizadeh is scheduled to be sentenced by U.S. District Judge Garland E. Burrell Jr. on March 30, 2018. Co-defendant Weaver pleaded guilty to one count of wire fraud and one count of bank fraud on December 15, 2017, and is scheduled for sentencing on March 23, 2018. Alizadeh and Weaver face a maximum statutory penalty of thirty years in prison on each count and a $1 million fine. Read More
Financial Fraud
Read Article: HSBC Holdings Plc Agrees to Pay More Than $100 Million to Resolve Fraud Charges
January 18, 2018
United Kingdom-based global financial services company HSBC Holdings plc (HSBC) entered into a deferred prosecution agreement (DPA) and agreed to pay a $63.1 million criminal penalty and $38.4 million in disgorgement and restitution to resolve charges that it engaged in a scheme to defraud two bank clients through a multi-million dollar scheme commonly referred to as “front-running.” The DPA, which was filed in connection with a two-count criminal information charging wire fraud in the United States District Court for the Eastern District of New York, is pending review by the Court.
According to HSBC’s admissions, on two separate occasions in 2010 and 2011, traders on its foreign exchange desk misused confidential information provided to them by clients that hired HSBC to execute multi-billion dollar foreign exchange transactions involving the British Pound Sterling. Read More
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