Fiat crime (financing terror, money laundering, fraud, ponzi, etc.)

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globalchinapulse.net

Moving Bricks: Money-Laundering Practices in the Online Scam Industry

Jingjing invited me to her office and asked me to wait for her to finish work before we headed out to dinner together.[1] At the time, she was working in a third-party payment company—what, in the jargon of the money-laundering industry, is known as a ‘gateway’ (通道, tongdao). Like another...
globalchinapulse.net globalchinapulse.net
 
pmbug said:
Idiots following a Tik Tok viral story/trend commit check fraud and up with huge debts:
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JPMorgan Chase (JPM) has begun to file lawsuits against people that withdrew hundreds of thousands of dollars using a so-called “infinite money glitch” that went viral on social media last summer.
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qz.com

JPMorgan is suing people who used an 'infinite money glitch' to steal thousands of dollars

A handful of people across the country now owe the bank hundreds of thousands of dollars
qz.com qz.com
 
The info here is a bit dated but it's some neat reading.


www.historyvshollywood.com

The Infiltrator Movie vs True Story of Robert Mazur, Emir Abreu

We investigate The Infiltrator movie vs. the true story of the real Robert Mazur, Emir Abreu and Operation C-Chase.
www.historyvshollywood.com www.historyvshollywood.com

www.abc.net.au

The man who cleaned millions for Pablo Escobar

Robert Mazur led a double life as an undercover agent in the world's most infamous drug cartel. Now he has warnings for Australia.
www.abc.net.au www.abc.net.au
 

Billionaire Gautam Adani charged in New York with massive fraud, bribery scheme​


  • Gautam Adani was indicted in New York federal court with other defendants in connection with an alleged multi-billion-dollar fraud and bribery scheme.
  • The billionaire is chair of India’s Adani Group conglomerate and one of the world’s richest people.
  • Adani and the other defendants allegedly paid pay more than $250 million in bribes to Indian government officials to obtain “lucrative solar energy supply contracts with the Indian government.”
  • The indictment alleges Adani and others misled U.S. investors when they were seeking capital to finance those solar energy contracts.
Gautam Adani, chair of India’s Adani Group and one of the world’s richest people, was indicted with others in New York federal court on charges related to a massive bribery and fraud scheme, authorities said Wednesday.

Adani and other defendants are accused in the indictment of having paid Indian government officials more than $250 million in bribes to obtain solar energy supply contracts worth more than $2 billion in profits.

More:

 

Company owned by top adviser to Mayor Adams has ties to criminal insurance fraud ring​

12/03/2024 05:00 AM EST

NEW YORK — A complex insurance operation with ties to Mayor Eric Adams’ ex-chief of staff, Frank Carone, has landed in the crosshairs of federal prosecutors.

Manhattan federal prosecutors in October indicted three people on criminal conspiracy charges for allegedly operating an “extensive” $10 million fraud ring involving no-fault auto insurance, which covers medical expenses from car accidents.

More:

 
searcher said:
www.cbsnews.com

Police illegally sell restricted weapons, supplying crime

These high-powered weapons are only meant for police. How are they ending up in criminals' hands?
www.cbsnews.com www.cbsnews.com
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Police across the U.S. are illegally selling firearms, CBS News investigation finds​

Dec 4, 2024
A CBS News investigation found dozens of law enforcement leaders buying and illegally selling guns. A review of government audits and court records over the last 20 years uncovered instances in 23 states across the U.S., plus Puerto Rico and Washington, D.C., for more than 50 cases. CBS News crime and public safety producer Erin D. Cauchi has the details.


6:24
 

SEC charges Cantor Fitzgerald, led by Trump’s Commerce pick, with breaking securities laws​

  • The Securities and Exchange Commission charged Cantor Fitzgerald with violating laws related to disclosures by so-called blank-check companies before they raise money from the public.
  • Cantor Fitzgerald's chairman and CEO, Howard Lutnick, was recently nominated by President-elect Donald Trump to lead the Commerce Department.
  • The SEC said that Cantor agreed to settle the case by saying the firm would not violate the relevant securities laws again and pay a $6.75 million civil penalty.
WASHINGTON — The Securities and Exchange Commission on Thursday charged global financial services firm Cantor Fitzgerald with violating laws related to regulatory disclosures by so-called blank-check companies before they raise money from the public.

Cantor's chairman and CEO, Howard Lutnick, was recently nominated by President-elect Donald Trump to lead the Commerce Department. Lutnick is co-chair of Trump's transition team.

More:

https://www.msn.com/en-us/money/com...S&cvid=d902a17f858644bd82c0ecb18870a850&ei=26
 
Valid or political hit job? With the SEC, it's probably a coin flip.
 
Banking giant HSBC is being sued by Australia’s corporate regulator over alleged failures to protect hundreds of customers who lost tens of millions of dollars to scams.

About 950 reports of unauthorised transactions were made to HSBC Australia between January 2020 to August this year, with customers fleeced of more than $23 million.

However, well over half of these losses, almost $16 million, occurred over just six months from October 2023 to March this year, when HSBC customers were being repeatedly targeted by a sophisticated bank impersonation scam.

Criminals masquerading as HSBC workers infiltrated genuine text message chains from HSBC, or made it appear like they were calling from the bank’s real phone number, to convince victims that their accounts had been compromised and scare them into providing one-time passcodes.
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https://www.msn.com/en-au/news/aust...s-allegedly-scammed-of-23-million/ar-AA1vUbr9

FDIC response: Clearly, crypto could incur reputational risk for a bank. /sarc
 
www.cbsnews.com

Colorado resident forced to return stolen truck purchased in Texas

Authorities are warning consumers of thieves who "recycle" a stolen vehicle by keeping a key fob when they sell the vehicle, then track it down in order to steal it again -- and re-sell it again.
www.cbsnews.com www.cbsnews.com

Man Loses Thousands Paid for Stolen Truck on Facebook Marketplace​

Dec 17, 2024

The great deal was in TX while he lives in CO.


10:42
 

‘Grandfatherly’ accountant Joe Pezzano died last Christmas. One year later, where are the millions he was entrusted with?​

At first, there was shock and grief. Joseph Pezzano, a longtime tax accountant and financial adviser in Collegeville, died unexpectedly last Christmas Day at the age of 73. He’d been widely respected, trusted, and loved.

Then, it was confusion. Pezzano’s clients couldn’t get answers about their investments when they called or visited his accounting firm, Bond, Pezzano & Etze.

Panic followed when an office manager began sending out emails stating the accounting firm had “no affiliation” with Pezzano’s investment arm, JPA R/E Associates — even though they shared an address and phone number.

Now, one year after Pezzano’s death, there is anger, embarrassment, despair, and lot of lawyers. But few answers and no money returned.

More:

https://www.msn.com/en-us/money/tax...S&cvid=ccc38eec07894d9abe9d404d95406285&ei=14
 

Sarkozy stands trial over ‘suitcases stuffed with millions from Gaddafi’​

Nicolas Sarkozy is standing trial on charges of sealing a “pact of corruption” with Muammar Gaddafi in which the French ex-president received tens of millions of euros from the late Libyan dictator.

It is alleged Mr Sarkozy received funds via suitcases of cash to finance his successful 2007 French presidential campaign. In exchange he would help end Gaddafi’s pariah status after the Lockerbie bombing and other attacks.

More:

https://www.msn.com/en-us/news/worl...S&cvid=a6280da5a36e42efb2dd145f328ec7e1&ei=46
 

'Scam Goddess' explores city worker's 22-year deception​

The city of Dixon, Illinois, population 16,000, has long been famous as the hometown of former President Ronald Reagan. In 2012, it became infamous when it was revealed that one of its residents embezzled $53.7 million from the community over 22 years.

Rita Crundwell used her position as the city's comptroller and treasurer to siphon off money to finance her Quarter Horse breeding operation, become a big deal in the competitive equestrian world and set up a luxurious home life, according to the Department of Justice.

More:

https://www.msn.com/en-us/news/worl...S&cvid=7c5bf397db0a465d83167677fce92b8f&ei=16
 

Tribal Lenders Say They Can Charge Over 600% Interest. These States Stopped Them.​

A decade ago, strange billboards started showing up, including in New York’s Times Square. They weren’t advertising a product. They were vilifying Connecticut’s then-governor, Dannel Malloy.

And they could be traced to that state’s unusual effort to stop an Oklahoma tribe from offering Connecticut residents short-term consumer loans at exorbitant interest rates.

“Gov. Malloy, Don’t take away my daddy’s job,” read one of the billboards, alongside a picture of a Native American child with braids and traditional garb.

But Malloy was not dissuaded by what he called a “scare tactic.” He said he felt the state’s banking regulations were on his side. The Oklahoma tribe was claiming sovereign immunity as it flouted Connecticut law — charging over 400% interest annually, though the state capped rates on such loans at 12%.

More:

www.propublica.org

Tribal Lenders Say They Can Charge Over 600% Interest. These States Stopped Them.

Online lenders tied to Native American tribes argue that they aren’t subject to state lending laws, but they backed away from operating in six states where attorneys have acted forcefully to protect consumers.
www.propublica.org www.propublica.org
 

Fugitive Advisor and Ex-CNBC Pundit Pleads Guilty to Multimillion-Dollar Fraud​

A long-running saga involving a prominent financial advisor who became a fugitive has come to an end, with James McDonald entering a guilty plea to one count of securities fraud, a felony that carries a maximum sentence of 20 years in prison.

Throughout the chaos of 2020, McDonald repeatedly—and publicly—forecast a dramatic fall in the U.S. stock market and positioned his clients to cash in on the expected crash through what prosecutors described as a risky short strategy.

More:

https://www.msn.com/en-us/money/oth...S&cvid=a397ee2fcd45441dbf57a3a939d0aaed&ei=23
 

AI scammers on Amazon duped investors out of millions with ‘passive income’ scheme, FTC alleges​

  • The FTC sued an Amazon automation company for allegedly defrauding customers of tens of millions of dollars in connection with a “passive income” scheme.
  • Click Profit offered to open and manage online storefronts for customers in exchange for an upfront investment, but the FTC alleges the company failed to deliver and left consumers in debt.
  • The company promised better returns than the stock market, with a co-founder appearing in TikTok videos alongside an image of Warren Buffett and “fanning himself” with wads of cash, per the FTC.
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The mystery continues with the ‘silver coin schemers’​

SIOUX FALLS, S.D. (KELO) — A mansion in Norway, millions of dollars in silver coins, and a sales pitch appealing to Christian values, which resulted in a string of victims across the country – it all sounds like the plot of a Hollywood movie. But the real-life $13 million international fraud ring, which nabbed victims in South Dakota, is one of the most intriguing cases to ever unfold in the federal courthouse in Sioux Falls. This week a self-proclaimed pastor from Pennsylvania got 25 years in prison after being found guilty of money laundering and wire fraud charges.

But there is much more to this story KELOLAND Investigates is uncovering some of the still-unsolved mysteries with the “Silver Coin Schemers.”

Criminal mastermind, Nathan Peachey, and members of his family, entered the federal courthouse in Sioux Falls for Peachey’s sentence as he proclaimed:

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Former “We Buy Ugly Houses” Franchise Owner to Plead Guilty in Fraud Scheme That Cost Investors $40 Million​

The former operator of one of the largest HomeVestors of America franchises has agreed to plead guilty to federal wire fraud in connection with a sprawling Ponzi scheme targeting people who believed they were investing in his real estate empire.

Federal prosecutors in Texas identified 80 victims defrauded of nearly $40 million by Charles Carrier since 2018. Though Carrier agreed to plead guilty to only one count of felony wire fraud involving one $200,000 transfer, he admitted to the broader scheme as part of the deal and agreed to pay restitution — the amount of which has yet to be determined.

The charge also carries a maximum 20-year prison sentence and the possibility of millions of dollars in fines. A federal judge will decide the sentence.

More:

www.propublica.org

Former “We Buy Ugly Houses” Franchise Owner to Plead Guilty in Fraud Scheme That Cost Investors $40 Million

Charles Carrier agreed to plead guilty to one count of felony wire fraud that carries a potential 20-year prison sentence. The plea follows a ProPublica report detailing how Carrier bilked investors across Texas out of millions of dollars.
www.propublica.org www.propublica.org
 

How a female Ukrainian hacker exposed a botched SEC case against day traders​

A Ukrainian hacker who was held at gunpoint by a gang of cocaine-sniffing cybercriminals helped the Securities and Exchange Commission blow the lid of of a high-profile breach case that had wrongly accused American day traders, according to a report.

Olga Kuprina, known by her online persona “Ghost in the Shell,” became a whistleblower for the federal agency in the shocking cyberattack that infiltrated the SEC’s Edgar filing system in 2016, Bloomberg News reported on Monday.

Surrounded by cocaine, laptops and armed men, Kuprina was trapped by a local crime boss, Artem Radchenko, in her Kyiv apartment and ordered to hack perhaps the world’s biggest repository of corporate filings, according to the outlet.

Radchenko allegedly hoped to sell unpublished filings for $200,000 apiece.

More:

https://www.msn.com/en-us/money/new...inst-day-traders/ar-AA1GnLDm?ocid=socialshare
 

US arrests Russian entrepreneur for restricted technology purchases​

A Russian businessman has been detained in the United States for purchasing American technology. US prosecutors have accused cryptocurrency entrepreneur, Yuri Gugnin, of laundering over US$500 million and aiding in Russia’s pursuit of acquiring sensitive American technology.

Source: Financial Times

Details: The founder of Florida-listed payment company Evita Pay and a Delaware company called Evita Investments has been charged with bank fraud, money laundering and other crimes. The Department of Justice reported that he was arrested in New York.

Prosecutors say Gugnin made payments for foreign customers towards US electronics subject to export controls and for parts on behalf of the Russian state nuclear technology company Rosatom.

More:

https://www.msn.com/en-us/money/com...nology-purchases/ar-AA1GqhWe?ocid=socialshare
 

Obscure Chinese Stock Scams Dupe American Investors by the Thousands​


Braden Lindstrom had only dabbled in investing when he was encouraged by someone impersonating a financial adviser to buy shares in a small Chinese company listed on the Nasdaq Stock Market. A few clicks later, he was on his way to being scammed out of $80,000.

Lindstrom, a college professor in Utah, invested in Jayud Global Logistics JYD -7.15%decrease; red down pointing triangle, a small Chinese shipping company whose price rose for months, then crashed 96%, just after Americans like him were told to buy it. Wall Street veterans say the pattern has been repeated dozens of times in recent years, and feeds on tiny Chinese stocks that are vulnerable to manipulation and easily bought by U.S. investors.

Traders and investigators say it has become an epidemic of fraud, frustrating U.S. regulators who typically can’t get access to evidence in China, even though the companies market their stock to investors in the U.S. The Justice Department is now involved with fighting the fraud, which resembles a pump and dump, declaring it a priority of the Trump administration’s white-collar enforcement program.

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North Korean operatives and American accomplices accused in massive fraud that infiltrated the Fortune 500 and stole millions​

  • Authorities announced a new crackdown on a sprawling international fraud ring involving North Korean IT workers, naming more than a dozen defendants in two new indictments, including New Jersey man Zhenxing “Danny” Wang. The indictment claims the scheme allegedly generated more than $5 million in illicit earnings and hundreds of thousands in fees for the U.S. conspirators. In a second indictment, four North Korean nationals have been charged with executing a sophisticated operation that generated nearly $1 million in stolen crypto. All told, law enforcement searched 29 suspected laptop farms across 16 states and seized 29 financial accounts allegedly used to launder money and digital assets.
The Justice Department on Monday announced a significant crackdown on the North Korean IT workers fraud scheme, with two new indictments naming more than a dozen alleged conspirators accused of stealing millions from at least 100 companies in the past four years.

More:

https://www.msn.com/en-us/money/sma...d-stole-millions/ar-AA1HIpsT?ocid=socialshare
 

Georgia firm that called itself part of the ‘patriot economy’ abruptly closes — and investors worry their money is gone​

A lending company in Georgia that marketed itself toward Republicans and faith-based groups has abruptly closed its doors.

The state has opened an investigation, the federal government has filed charges, and a recent report says investors are worried they won’t see their money again.

According to WSB-TV, founders Brant Frost IV and Brant Frost V promoted the company as being part of the “patriot economy” and targeted investors on conservative media. They also shared videos on their YouTube channel.

Money:

https://www.msn.com/en-us/money/per...ir-money-is-gone/ar-AA1KaP3L?ocid=socialshare
 

DOJ, SEC charge two men in $200 million water vending machine Ponzi scheme​

  • Two men have been indicted in New York on federal criminal charges in connection with a water vending machine Ponzi scheme that allegedly swindled investors out of more than $200 million, the Department of Justice said.
  • The two men, Ryan Wear and investment advisor Jordan Chirico were also hit with civil charges related to the same scheme involving Wear's Water Station Management by the Securities and Exchange Commission.
  • Many of the swindled investors in the scheme were retail investors and military veterans, an indictment in Manhattan federal court alleges.
Two men have been indicted in New York on federal criminal charges in connection with a water vending machine Ponzi scheme that allegedly swindled investors out of more than $200 million, the Department of Justice said Thursday.

The two men were also hit by the Securities and Exchange Commission with civil charges of violating antifraud provisions of the federal securities laws in connection the same scheme.

More:

https://www.msn.com/en-us/money/new...ine-ponzi-scheme/ar-AA1KxwCE?ocid=socialshare
 

New Jersey Real Estate Influencer Indicted for Multimillion-Dollar Fraud and Bribery Scheme​

*A federal grand jury has indicted Cesar Humberto Pina, a 47-year-old Franklin Lakes, New Jersey, real estate investor known as “Flipping NJ,” on charges of orchestrating a multimillion-dollar Ponzi-like scheme, laundering drug proceeds, and bribing a Paterson official.

The charges include two counts of wire fraud, one count of money laundering conspiracy, two counts of money laundering, and one count of bribery involving federal funds. Pina’s court appearance is pending.

More:

https://www.msn.com/en-us/money/com...d-bribery-scheme/ar-AA1L2UVH?ocid=socialshare
 

Scammed into scamming​

Across Southeast Asia, a multibillion-dollar fraud industry has emerged, staffed in part by victims of trafficking.

In lawless regions of the Myanmar-Thai border, compounds run by Chinese criminal gangs contain thousands of people forced to scam strangers online or face brutal punishment. Thailand has become a key transit hub for trafficking victims, Reuters found.

More:

www.reuters.com

They traveled to Thailand. They wound up cyber scam slaves in Myanmar.

A multibillion-dollar fraud industry has taken root across Southeast Asia, fueled partly by trafficking victims. In lawless zones along the Myanmar-Thai border, Chinese-run compounds force thousands to scam strangers online under threat of violence. Thailand has become a key transit hub, Reuters...
www.reuters.com www.reuters.com
 
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