Nigerian Man Arrested in Dallas for Elaborate Email Fraud Scheme

A Nigerian man has been arrested in Dallas, accused of defrauding 17 Texas companies out of more than $600,000 in an elaborate business compromise email (BCE) scheme, according to a news report. Amechi Colvis Amuegbunam, 28, is accused of creating false documents and fake Internet domains and using them to convince companies to wire money … Continued

Understanding the Definition of White Collar Crime

White collar crime refers to deceptive acts that are designed to produce some type of financial gain.  White collar offenses are financial crimes and do not involve any violent or drug-related criminal behavior; in fact, many perpetrators of white collar crimes are typically involved in legal businesses and may even be well-respected members of the … Continued

Former Texas Bank President Going to Prison for Wire Fraud

A former D’Hanis, Texas, bank president has been sentenced to two years in federal prison and ordered to pay $817,892 in restitution after pleading guilty to one count of wire fraud and embezzlement. Laurie Mayfield (aka “Laurie H. Scott”), 55, of Fredericksburg, Texas, is the former president of D’Hanis State Bank (DSB).  According to court … Continued

Texas Man Sentenced for Money Laundering, Wire Fraud

A 65-year-old Stephenville, Texas, man has been sentenced in a Kansas City federal court to three years and four months in federal prison without parole for his convictions on charges of money laundering and wire fraud. Lewis Dean McBride, a financial planner and insurance agent, was also ordered to pay restitution of $430,000. McBride was … Continued

DOJ Data Shows White Collar Crime Prosecutions at 20-Year Low

A report by Syracuse University’s Transactional Records Access Clearinghouse shows that federal prosecution of white collar crime is at its lowest level in the last 20 years, down more than 36% from 1995.  For 2015, white collar crime prosecutions are estimated to be 12.3% lower than one year ago and 29.1% lower than five years … Continued

“Sopranos” Star’s Ex Indicted in $300M Stock Manipulation Scheme

The former husband of Jamie-Lynn Sigler, who played the daughter of mobster Tony Soprano on the acclaimed HBO television series, “The Sopranos,” has been indicted on 11 counts of securities fraud, wire fraud and conspiracy in a $300 million “pump and dump” stock manipulation scheme. Abraxas “A.J.” Discala, 44, CEO of OmniView Capital Advisors, has … Continued

What is a Federal Fraud Offense?

If an individual intentionally uses deception or misrepresentation to gain benefit for himself or others, that person can be prosecuted for fraud.  Federal fraud is prosecuted by the U.S. Attorney’s Office; the most common types of federal fraud cases involve the following: Mail and Wire Fraud Federal law prohibits the use of the mail or … Continued

What is Wire Fraud?

In the Internet age, using a term like “wire” to describe the use of communications devices to commit fraud may sound old-fashioned, but this crime is very much alive and well today, embracing any and all technologies that people may use to defraud others — smartphones, tablets and computers as well as telephones, faxes and … Continued

Meet the Perpetrators of the Top 10 Ponzi Schemes in History

From a recent posting at TheRichest.com, meet the perpetrators of the top 10 Ponzi schemes in history, starting with the man who started it all: Charles Ponzi Almost one century ago, Charles Ponzi concocted a scheme whereby he promised unwitting investors that he would deliver a 50% return on their money in 45 days, or … Continued

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