Tag Archives: scams

The Associated Press reports: A New Jersey woman who pleaded guilty to helping her boyfriend spread a feel-good story about a homeless veteran that garnered more than $400,000 in online donations has been sentenced to three years in prison on state theft charges. Katelyn McClure, 32, wasn’t present in the Mount Holly courtroom Friday because she is serving a one-year …

The Associated Press reports: “Real Housewives of Salt Lake City” cast member Jennifer Shah was sentenced Friday to six and a half years in prison. Judge Sidney Stein said Shah’s role on the RHOSLC played no role in his sentencing decision. “The character your client plays is simply a character,” Stein said. “The Real Housewives franchise involves role playing, editing. …

CNN Business reports: The FBI says America has a “pig butchering” problem. And it’s costing victims millions of dollars. “We’re not talking about what’s going on at farms,” said Frank Fisher, public affairs specialist at the bureau’s Albuquerque division. “We’re talking about a cryptocurrency investment scam that is sweeping the country.” The term pig butchering refers to an unsuspecting victim …

From the Justice Department: A federal grand jury in the Southern District of Texas returned an indictment that was unsealed yesterday charging eight men with conspiracy to commit securities fraud for a long-running, social media-based “pump and dump” scheme. According to court documents, Edward Constantinescu, aka Constantin, 38, of Montgomery, Texas; Perry “PJ” Matlock, 38, of The Woodlands, Texas; John …

Via press release from the SEC: The Securities and Exchange Commission today charged Samuel Bankman-Fried with orchestrating a scheme to defraud equity investors in FTX Trading Ltd. (FTX), the crypto trading platform of which he was the CEO and co-founder. Investigations as to other securities law violations and into other entities and persons relating to the alleged misconduct are ongoing. …

ABC News reports: Sam Bankman-Fried, the embattled former CEO of cryptocurrency giant FTX and trading firm Alameda Research, has been arrested in the Bahamas on criminal charges, the Bahamas Attorney General’s Office announced Monday. The arrest “followed receipt of formal notification from the United States that it has filed criminal charges against SBF and is likely to request his extradition,” …

The Huffington Post reports: A week into December, Sen. Tim Scott (R-S.C.) is emailing residents that their heat is about to get cut off — except the alarmist messages from his campaign are actually just misleading fundraising pitches. “Your heat will be turned off. Emergency Notice,” reads an unsettling email notification a South Carolina resident received on their phone on …

CNBC reports: Distressed crypto firm BlockFi has filed for Chapter 11 bankruptcy protection in the US Bankruptcy Court for the District of New Jersey following the implosion of putative acquirer FTX. In the filing, the company indicated that it had more than 100,000 creditors, with liabilities and assets ranging to $10 billion. In the filing, the company listed an outstanding …

NBC News reports: Four years ago, Hall of Fame quarterback Brett Favre joined forces with a Florida neuroscientist to promote an experimental drug — a nasal spray designed to quickly treat brain injuries from a concussion. Favre, a major investor in the company, touted the substance on podcasts, radio interviews and national television, including on NBC. And he did more …

The New York Daily News reports: Todd Chrisley of “Chrisley Knows Best” was sentenced Monday to 12 years in prison, while Julie Chrisley got seven years, after the couple was convicted in Atlanta in June. Each was ordered to undergo three years of supervised release afterward, and the duo must pay restitution, too. They received the sentence from U.S. District …

Reuters reports: The Golden State Warriors were sued on Monday by an FTX customer who accused the reigning National Basketball Association champions of fraudulently promoting the now-bankrupt cryptocurrency exchange. Elliott Lam, a Canadian citizen and Hong Kong resident, filed his proposed class-action lawsuit in San Francisco federal court on behalf of “thousands, if not millions” of people outside the United …

Axios reports: Elizabeth Holmes on Friday was sentenced by a California judge to 11 years and three months in prison for defrauding investors in her failed blood-testing company, Theranos. This is the end of a years-long saga that saw the celebrated startup founder become a cautionary tale of Silicon Valley’s “fake it ’til you make it” culture. Holmes in January …

From the Justice Department: A federal jury in Charlotte has convicted Michael Mandel Baldwin, 53, of Alexandria, Virginia, for orchestrating an investment scheme that defrauded victims of more than $800,000, announced Dena J. King, U.S. Attorney for the Western District of North Carolina. “Baldwin’s Miracle Mansion was a house of lies,” said U.S. Attorney King in announcing the guilty verdict. …

CoinDesk reports: The beleaguered crypto exchange FTX suffered a $400 million hack over the weekend, and at least one blockchain expert says the clues are point to a high-level insider who committed an amateur misstep that might have inadvertently revealed their identity. The attacker appears to have “had access to all the cold wallet storages which he exploited,” Dyma Budorin, …

Just out via press release: Today, the Consumer Financial Protection Bureau (CFPB) released a new complaint bulletin that highlights complaints the CFPB received related to crypto-assets. Consumers most commonly reported being victimized by frauds, theft, account hacks, and scams. Consumers also had issues with executing transactions and transferring assets between exchanges. Many consumers had issues with accessing funds in their …

From the Justice Department: A Marblehead man who presented himself as an Orthodox Christian monk and a lawyer have been charged in a $3.6 million COVID relief fraud scheme, according to the Massachusetts U.S. Attorney’s Office. Brian Andrew Bushell, 47, and Tracey M.A. Stockton, 64, were charged with conspiracy to commit wire fraud and unlawful monetary transactions, a news release …

Fox News reports: “I have been unjustly smeared in the media,” Favre said in a statement provided exclusively to Fox News Digital. “I have done nothing wrong, and it is past time to set the record straight. “No one ever told me, and I did not know, that funds designated for welfare recipients were going to the University or me. …

Via press release from the SEC: The Securities and Exchange Commission today announced charges against Kim Kardashian for touting on social media a crypto asset security offered and sold by EthereumMax without disclosing the payment she received for the promotion. Kardashian agreed to settle the charges, pay $1.26 million in penalties, disgorgement, and interest, and cooperate with the Commission’s ongoing …

The Jackson Clarion-Ledger reports: After Mississippi spent millions of dollars in welfare money on Brett Favre’s pet project, a university volleyball arena, the retired NFL quarterback tried two years later to get additional cash from the state’s welfare agency for another sports facility, new court documents show. The governor at the time, Republican Phil Bryant, texted in 2019 with Favre, …

The New York Times reports: A jury in a federal civil case on Thursday found that Project Veritas, a conservative group known for its deceptive tactics, had violated wiretapping laws and fraudulently misrepresented itself as part of a lengthy sting operation against Democratic political consultants. The jury awarded the consulting firm, Democracy Partners, $120,000. The decision amounted to a sharp …