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Fraud News September 2017: Campaign, Tax, Investment Fraud & More

Fraud News September 2017: Campaign, Tax, Investment Fraud & More

Stay up to date with recent cases involving alleged fraud or theft throughout the country, the FBI’s website, fbi.gov, provides a great source of information.

Below you can review the September 2017 fraud cases referenced on the FBI’s website and throughout the internet.

Securities, Commodities, & Investment Fraud

Read Article: Former Amazon Financial Analyst Pleads Guilty to Insider Trading

September 7, 2017

A former financial analyst at Amazon.com, Inc., pleaded guilty today in U.S. District Court in Seattle to securities fraud involving insider trading, announced U.S. Attorney Annette L. Hayes. Brett D. Kennedy, 26, currently of Blaine, Washington, admitted that in April 2015, he provided non-public quarterly financial results to a friend who then purchased Amazon stock and sold it at a profit once the results were made public. The friend paid Kennedy for this inside information. Kennedy is no longer employed by Amazon. Chief U.S. District Judge Ricardo Martinez scheduled sentencing for December 8, 2017.

 

Financial Fraud & Tax Fraud

Read Article: Four Phoenix Family Members Sentenced For Real Estate Fraud and Tax Evasion

September 8, 2017

PHOENIX – Senior U.S. District Judge Neil V. Wake sentenced Daphne Iatridis and her husband, Arthur Telles, both 59, to 30 months in prison and ordered the couple to forfeit 26 fraudulently purchased properties to the United States. Both had previously pleaded guilty to conspiracy to commit mail and wire fraud and tax evasion.

 

Public Corruption

Read Article: Former Commerce Employee Sentenced for Bribery Scheme

September 8, 2017

ALEXANDRIA, Va. – A former information technology official with the Department of Commerce was sentenced today to 4 years in prison and ordered to forfeit approximately $224,500 for conspiracy to pay and receive bribes, and acceptance of bribes by a public official.

 

Campaign Fraud

Read Article: Monongalia County Man Indicted on Campaign Fraud Charges

September 19, 2017

Morgantown, West Virginia man, James L. Laurita, Jr., age 57, was indicted by a federal grand jury on charges related to campaign fraud. One count of “Scheme to Cause False Statements to Federal Election Commission,” two counts of “Causing Contributions in the Name of Another,” two counts of “Causing Excessive Contributions,” and two counts of “Causing False Statement to Federal Election Commission.”

Assistant U.S. Attorney Jarod J. Douglas is prosecuting the case on behalf of the government. The Federal Bureau of Investigation is investigating.

 

Cyber Crime [Indian Country Law and Justice]

Read Article: IT Contractor Convicted of Wire Fraud for Defacing Website of Arizona Company

September 19, 2017

PHOENIX – Tavis Tso, 40, of Tempe, Arizona, a member of the Navajo Nation, was sentenced yesterday by U.S. District Judge David G. Campbell to four years of federal probation. Tso was also ordered to pay $9,145 in restitution to the victim of his crime. Tso had previously pleaded guilty to one count of wire fraud.

 

Securities, Commodities, & Investment Fraud

Read Article: U.S. Attorney’s Office in Chicago Charges Financial Analyst and Former Investment Banker with Fraud for Allegedly Profiting from Insider Trading

September 26, 2017

Jason Napodano, a former Managing Director of a Chicago investment research firm, used material, non-public information he obtained while preparing equity research reports about companies to purchase and sell stock in those companies, according to a criminal information filed in federal court in Chicago. The illegal trading profits netted Napodano approximately $143,000, the information states.

Securities fraud is punishable by up to 20 years in prison.  If convicted, the Court must impose a reasonable sentence under federal statutes and the advisory U.S. Sentencing Guidelines.

If you feel like you are the victim of fraud, you may want to look into Fraud Investigation Services by a CFE.

 

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Call Veriti Consulting to speak with a professional and trusted fraud and forensic accounting firm serving clients across the United States. Reach out and contact us at (855) 232-4410.

 

 

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