Bad credit? No problem. A group of alleged scam artists have been charged with running a fraudulent credit repair business and then using their clients’ identities to get mortgages on millions of doll...
Tag: Financial Crime
Dogecoin investor sues Elon Musk, Tesla, SpaceX for $258 billion, claiming ‘pyramid scheme’
A dogecoin investor is suing Elon Musk and two of his companies, Tesla Inc. and SpaceX, for $258 billion, accusing them of operating a “pyramid scheme” to inflate the price of the cryptocurrency. The ...
Reality TV stars Todd and Julie Chrisley found guilty on fraud, tax-evasion charges
ATLANTA — Todd and Julie Chrisley, stars of the reality television show “Chrisley Knows Best,” were found guilty Tuesday in Atlanta on federal charges including bank fraud and tax evasion. The Chrisle...
Tax investigators identify potential $1 billion crypto Ponzi scheme, reports say
International tax officials have identified more than 50 leads to potential crypto tax crimes that may lead to official investigations in the coming weeks, including one case that could be a $1 billio...
Opinion: Why I don’t want bitcoin in my 401(k)
Hooray! At long last, the company managing my 401(k) plan will allow me to bet up to 20% of my retirement funds on a digital Ponzi scheme that generates no income and has no practical use. Fidelity In...
Saudi Royals Are Selling Homes, Yachts and Art as Crown Prince Cuts Income
RIYADH, Saudi Arabia—Saudi princes have sold more than $600 million worth of real estate, yachts and artwork in the U.S. and Europe since the kingdom’s de facto ruler tightened the purse strings of th...
You Made $700 From an Online Side Hustle. Now the IRS Will Know.
Now that your 2021 taxes are done—or at least under way—it’s time to focus on a key tax change for 2022 affecting millions of Americans making money through platforms like eBay , Etsy , Airbnb , Venmo...
Deutsche Bank Must Face Lawsuits Alleging It Enabled Ponzi Scheme
Judges in New York and Miami ruled that investor lawsuits could advance against Germany’s Deutsche Bank AG for allegedly ignoring warnings that it was helping finance a real-estate-linked Ponzi scheme...
Freed Huawei Finance Chief Meng Wanzhou Returns to Company Spotlight
HONG KONG—Months after returning home to a hero’s welcome in China, Huawei Technologies Co. finance chief Meng Wanzhou was back in the spotlight Monday: This time, she was in more familiar surrounding...
Former Apple employee charged with defrauding $10 million
A former Apple employee has been charged with defrauding the tech giant out of more than $10 million by taking kickbacks, stealing equipment and laundering money, federal prosecutors said. Dhirendra P...
Tencent Stock Sinks on Report of Record Money-Laundering Fine
Text size Tencent headquarters in the southern Chinese city of Shenzhen, in Guangdong province. Noel Celis/AFP via Getty Images Tencent Holdings dropped almost 10% after The Wall Street Journal report...
Ponzi scheme behind patriotic vodka, once featured on ‘Fox & Friends,’ scammed investors out of $900,000 to pay IRS and Amex bills, prosecutors say
A Connecticut businessman has pleaded guilty to operating an unpatriotic Ponzi scheme that pocketed $900,000 from investors looking to buy a pro-veteran vodka company. Brian Hughes, 57, of Madison, Co...
‘No one is above the law’: Oil tycoon tried to stiff his ex-wife in a bitter divorce — now he’s going to prison for tax evasion
Todd Kozel made his riches in the oil fields of Kurdistan and now will have to pay the price. The once-jet-setting co-founder and chief executive of Gulf Keystone Petroleum is headed to prison for fiv...
Opinion: ‘Better than a 401(k)’? Scammer blew through more than $5 million of investors’ money earmarked for retirement
According to the Securities and Exchange Commission, Marco “Sully” Perez of Midland, Texas, used to tell his clients that his investment scheme was better than a 401(k). Now the U.S. District Court in...
CEO admits stealing $15 million from her company to finance clothing boutique, Plaza Hotel visits, and $200K on relative’s wedding
That’s some high-end embezzlement. The U.S. chief executive of a German saw-blade manufacturer has pleaded guilty to stealing $15 million from the company to bankroll a luxury clothing and furniture b...
Founder of nationwide tax-prep firm sentenced to prison for skimming $70 million in exorbitant fees over a 5-year period
Talk about a tax burden. The founder of a nationwide tax preparation chain has been sentenced to a year and a day in prison for running a tax refund advance scheme that fleeced customers with $70 mill...
Opinion: Sanctioning Russia is a masterstroke that will cement the dollar’s dominant role in world affairs
LONDON (Project Syndicate)— The savage fighting in Ukraine has led many to wonder whether Russian President Vladimir Putin’s supposed strategic brilliance is all that it was chalked up to be. Though P...