fraud

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Feds Nail Biggest-Ever Medicare Scam

More than 100 arrested in fraud sting

(Newser) - Federal agents swooped on health care facilities in nine states yesterday, arresting doctors, nurses, therapists, and health care executives accused of carrying out the biggest Medicare fraud ever seen. More than 100 people were involved in the scam, which bilked taxpayers out of up to $200 million by billing for...

Investors Sue Countrywide Over 'Massive Fraud'

Their triple-A-rated securities are now junk, they claim

(Newser) - Investors are suing Bank of America’s Countrywide mortgage unit, claiming they were fraudulently led into purchasing supposedly triple-A-rated mortgage-backed securities that turned out to be junk. Between 2005 and 2007, the investors bought hundreds of millions of dollars of securities that were supposed to be “conservative” and “...

Mom Jailed for Sending Kids to Safer Schools

Kelley Williams-Bolar convicted of felony for falsifying records

(Newser) - Kelley Williams-Bolar tried to send her two daughters to safer schools—and in doing so, she found herself convicted of a felony and sent to prison for 10 days. Williams-Bolar lives in Akron, Ohio, but wanted to send her children to the schools in Copley Township, where her father lives,...

Ernst & Young Hit With Civil Fraud Suit

Andrew Cuomo cites 'massive accounting fraud' in Lehman Bros. dealings

(Newser) - Andrew Cuomo filed a civil fraud lawsuit against Ernst & Young today, following reports that the company allegedly helped Lehman Brothers mislead investors . According to the complaint, the accounting firm approved Lehman’s use of “Repo 105” transactions, a type of debt that was labeled as sales to reduce...

Hundreds Nabbed in Scam Artist Crackdown

Justice Department brags about wave of arrests

(Newser) - Federal authorities have charged more than 500 people with various forms of fraud during a 3.5-month probe, in what Eric Holder today termed the largest crackdown on scam artists in US history. Of those, 343 were criminally charged, with the defendants accused of everything from running Ponzi schemes to...

Fraudsters Steal $42M From Holocaust Victims' Fund

17 charged in scheme to cheat German government

(Newser) - Seventeen people were charged today in Manhattan with defrauding a fund for Holocaust victims out of $42 million, AOL News reports. Employees of a not-for-profit group called the Conference on Jewish Material Claims Against Germany approved 5,500 false applications for reparations from the German government to supposed victims of...

Major Art Trove Now Believed to Be Fakes

German 'hippie' behind multimillion-dollar forgeries, say investigators

(Newser) - A treasure trove of some 35 Expressionist artworks supposedly worth millions are now believed to be forgeries engineered by a one-time German hippie who has been living like a king, reports Der Spiegel . The art world had been amazed as the "lost" artworks from the early 20th century surfaced...

Ex-Footballer Faces Caning, Fraud Charges in Singapore

After overstaying visa, former FSU player in more legal trouble

(Newser) - An American citizen who faces caning in Singapore after overstaying his tourist visa has also been charged with fraud, the AP reports. The former Florida State football player was already at risk of being the first American to be caned in Singapore since 1994. Now he’s been slapped with...

Gangsters Busted in Biggest-Ever Medicare Fraud

Armenian gang used phony doctors, clinic to scam $163 million

(Newser) - Investigators say they have smashed an Armenian crime ring responsible for "the largest Medicare fraud scheme ever perpetrated by a single criminal enterprise." A multi-state probe dubbed "Diagnosis Dollars" has resulted in the indictment of 73 members and associates of the ring, including 52 arrested in raids...

$100M Fraud Uncovered at California National Guard

Superiors apparently ignored missing, fabricated documents

(Newser) - In an exclusive investigative report, the Sacramento Bee exposes massive fraud at the California Army National Guard to the tune of $100 million in improper bonuses and recruiting incentives. From 1986 to 2009, Master Sgt. Toni Jaffe was in charge of approving the student loan repayments and bonuses the Guard...

Rampant Plagiarism, Fraud Could Hold Back China

It's pervasive in academia and in the business world

(Newser) - China's stated goal of becoming a "research superpower" could be held back by one big problem, reports the New York Times : Its researchers keep making stuff up and plagiarizing each other. The newspaper finds that fraud is pervasive in education and scientific research as state universities pressure academics to...

Feds Investigate Payments to Ex-LA Labor Leader

SEIU paid disgraced Alejandro Stephens big consulting fee

(Newser) - Federal authorities are investigating $150,000 in consulting fees that LA’s powerful Service Employees International Union paid to its disgraced ex-leader, the LA Times reports. The US Attorney last year considered using the payment as the basis for an embezzlement charge against that leader, one Alejandro Stephens, but decided...

Lawyer 'Channels' Client's Dead Wife

She made sexual advances in the deceased's name

(Newser) - An Arizona lawyer told a client she could channel his dead wife—and that they should have sex as a result, the National Law Journal reports. Charna Johnson began handling divorce proceedings for a client in 1999, then continued representing him when the wife committed suicide the next year. Soon...

Medicare Paid Out $28K in Penis Pumps, Many for Girls

Phony claims didn't even change names

(Newser) - It's no wonder Medicare loses billions to fraud: fooling the health care program is really, really easy. Just ask Emilio Lopez and Orlando Estevez, two Florida businessmen accused of bilking Medicare for $28,600 in penis pumps to combat impotence, even though the supposed patients included women. Yes, Medicare regulators...

Celeb Art Swindler Sentenced
 Celeb Art Swindler Sentenced 
Aug 4, 2010 3:05 AM CDT

Celeb Art Swindler Sentenced

Lawrence Salandar to serve 6-18 years

(Newser) - An art dealer who scammed clients including Robert De Niro and John McEnroe received the maximum sentence yesterday despite his pleas for leniency. Lawrence Salandar, once one of New York's most prominent art dealers, will serve between 6 and 18 years in prison, the New York Daily News reports. He...

Trustee Wants $30M More From Madoffs

Irving Picard sues, again, for money

(Newser) - The court-appointed trustee seeking to recover billions of dollars lost by Bernie Madoff is suing for $30 million that he says the Madoff family invested in oil, gas, and tech, reports the AP . The suit filed by trustee Irving Picard says the investments were used as vehicles to funnel money...

Fraud Fine Is Chump Change for Goldman

$500M penalty amounts to just 2 weeks of profits

(Newser) - The SEC is boasting that the $550 million settlement it agreed to with Goldman Sachs is the "largest-ever penalty paid by a Wall Street firm." That may be true, but that doesn't mean it's actually going to chasten Goldman. Top put things in perspective, Pro Publica notes that...

George Clooney Testifies, Italian Court Swoons

Actor takes stand against trio charged with co-opting his name

(Newser) - It's no wonder the Italian businessmen claimed George Clooney was behind their fashion line—the actor knows how to wow an audience whether he's on the red carpet or the witness stand. Maintaining his trademark aura of cool, Clooney delivered a few wisecracks today in Milan as he testified against...

Text Message Frame-Up Lands Woman in Jail

'Victim' blames ex for threats, gets 1-year sentence

(Newser) - It turns out, you can go to jail for threatening yourself—just call the cops and try to pin it on your ex-boyfriend and his sister-in-law. Jeanne Manunga, a 25-year-old California woman, has been sentenced to a year in jail for sending herself threatening text messages from a prepaid cell...

Supreme Court Sides With Skilling, Black

Limits 'honest services' prosecutions for white collar crimes

(Newser) - The Supreme Court ruled today that prosecutors erred in using a federal fraud law to convict former Enron chief executive Jeffrey Skilling, but left it to a lower court to determine whether his conviction should be overturned. The justices were unanimous in imposing limits on the use of the federal...

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