Equipment Finance Advisor Search Results
News Stories (52 Results) -
Fraud
Increases of 10 percent or more in incidents of fraud types, including identity theft and first- and third-party borrower fraud, have occurred among equipment finance companies over the last two years. A new study, “Fraud in the Equipment Leasing and...
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January 29, 2024, 07:22 AM
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U.S. Attorney Trini E. Ross announced Paul Paredes, 52, of Rochester, NY, was arrested and charged by criminal complaint with wire fraud, money laundering and aggravated identity theft. The charges carry a mandatory minimum penalty of two years in...
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October 17, 2023, 07:22 AM
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On Sept. 6, 2023, United States District Judge Eldon E. Fallon sentenced Ashton J. Ryan, Jr., age 75, of Kenner, LA, to a term of imprisonment of 170 months following Ryans convictions for bank fraud and making false statements in bank records...
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September 12, 2023, 07:23 AM
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A Florida resident and dual citizen of the United States and Turkey pleaded guilty in the District of New Jersey to running an extensive operation over many years to traffic in fraudulent and counterfeit Cisco networking equipment, according to the...
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June 09, 2023, 07:25 AM
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LexisNexis Risk Solutions released its latest Small and Midsize Business (SMB) Lending Fraud Study. Based on a survey of lenders, SMB lending fraud has increased significantly during the past 12 months, with many smaller banks, credit unions and...
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May 09, 2023, 07:10 AM
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Two advisors from The Alta Group will share expertise on legal issues impacting the equipment leasing industry at the Equipment Leasing and Finance Association’s (ELFA) 2023 Legal Forum taking place May 7-9 in Fort Myers, FL.Paul Bent, Senior...
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April 26, 2023, 07:20 AM
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Types of fraud common in the equipment finance industry, ways to identify fraud, and solutions to prevent and mitigate it were the topics of the Equipment Leasing and Finance Association’s recent webinar, “Fraud: What’s Old is New Again.” Debbie...
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March 30, 2023, 07:20 AM
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Vanessa Roberts Avery, United States Attorney for the District of Connecticut, announced that Jamie Petrone, 43, of Lithia Springs, GA, formerly of Naugatuck, CT, was sentenced by U.S. District Judge Vanessa L. Bryant in Hartford, CT, to 109 months...
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October 17, 2022, 07:22 AM
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Northteq, Inc. announced a Salesforce-based automated fraud mitigation solution for equipment finance lenders utilizing Ekata's industry leading technology. The solution was first implemented to enhance Northteq’s lease/loan origination system (LOS)...
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June 10, 2022, 07:24 AM
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The Securities and Exchange Commission charged Medallion Financial Corp., a Delaware company headquartered in New York, NY, and its President and Chief Operating Officer, Andrew Murstein of New York, NY, with illegally engaging in two schemes in an...
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January 03, 2022, 07:25 AM
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Damon Thomas Young, aka Morgan Sylvia, was sentenced for his fraud scheme to steal heavy equipment worth nearly $3 million from various dealers, while serving a 20-year state sentence as an inmate with the Georgia Department of Corrections.“Young...
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December 03, 2021, 07:23 AM
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A Southwest Georgia businessman and owner of a tractor supply company who pleaded guilty to orchestrating a complicated fraud involving millions of dollars of loans by multiple creditors was sentenced to prison and ordered to pay restitution to his...
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September 20, 2021, 07:25 AM
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A Southwest Georgia businessman and owner of a tractor supply company has pleaded guilty to orchestrating a complicated fraud involving millions of dollars of loans by multiple creditors.Rickey Carter, 60, of Nashville, Georgia, pleaded guilty to one...
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June 17, 2021, 07:10 AM
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LexisNexis Risk Solutions released its LexisNexis Risk Solutions 2020 True Cost of Fraud Study: Financial Services & Lending for the United States and Canadian financial services and lending sectors. The research provides a snapshot of pre- and...
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October 14, 2020, 07:05 AM
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The former Chief Financial Officer (CFO) of the Boston Grand Prix was arrested on charges that he failed to report income that he received from serving as executive with the Boston Grand Prix organization on his federal tax returns and for a scheme...
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September 30, 2020, 07:21 AM
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The Securities and Exchange Commission announced charges against a San Antonio-area businessman and his company for running a multimillion-dollar fraudulent scheme that victimized scores of investors, many of them retired San Antonio police officers...
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August 05, 2020, 07:25 AM
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Among the fallout from the COVID-19 pandemic is an increase in fraud and cybersecurity risks in the equipment finance industry in recent months. These threats and recommendations for combatting them were among the critical topics for equipment...
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May 05, 2020, 07:20 AM
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Half of corporate treasury and finance professionals do not believe an economic recession is a threat in 2020, according to a recent survey conducted by TD Bank, at the 2019 Association of Financial Professionals Annual Conference held in October in...
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February 21, 2020, 07:10 AM
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Manhattan District Attorney Cyrus R. Vance, Jr., announced the guilty pleas of Etienne Uzac, former Co-Owner and Chairman of IBT Media, Inc. (IBT) a/k/a Newsweek Media Group, and William Anderson, former CEO of Christian Media Corporation (CMC) and...
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February 18, 2020, 07:22 AM
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Celadon Group, Inc. announced that it, along with its 25 affiliate entities, have filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware. Celadon also announced it will...
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December 09, 2019, 07:30 AM
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The former Chief Operating Officer and Chief Financial Officer of Celadon Group Inc., a publicly traded transportation and trucking company headquartered in Indianapolis, IN, were charged in an indictment unsealed Dec. 5 for their alleged role in a...
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December 06, 2019, 07:30 AM
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U.S. Attorney James P. Kennedy, Jr. announced Robert Fisher, 79, of Daytona Beach, FL, who was convicted of conspiracy to commit wire fraud, was sentenced in Rochester, NY, to serve 18 months in prison by U.S. District Judge Elizabeth A. Wolford. The...
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September 04, 2019, 07:30 AM
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U.S. Attorney James P. Kennedy, Jr. announced Kyle Haynes, Bryan Day, Jason Haynes and David Haynes of the Daytona, FL area, were sentenced by U.S. District Judge Elizabeth A. Wolford in Rochester, NY, for their involvement in a fraud scheme to...
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July 29, 2019, 07:30 AM
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U.S. Attorney James P. Kennedy, Jr. announced David Haynes, Kyle Haynes and Bryan Day, all of Florida, pleaded guilty before U.S. District Judge Elizabeth A. Wolford involving a scheme to defraud the Xerox Corporation of more than $20 million. Kyle...
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November 07, 2018, 07:25 AM
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The Securities and Exchange Commission charged an equipment leasing company and its founder with defrauding investors in connection with sales of over $80 million in promissory notes.According to the SEC's complaint, between 2014 and 2017, Essex...
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June 08, 2018, 07:30 AM
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The Federal Reserve Board on Wednesday permanently barred Richard Henderson and Philip Cooper, former employees of Regions Bank, from the banking industry after both pled guilty to conspiracy to commit money laundering, and conspiracy to commit bank...
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June 08, 2017, 07:18 AM
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A former senior vice president at Regions Bank has agreed to plead guilty to conspiracy charges in a $5 million bribery and wire fraud scheme, announced Acting U.S. Attorney Robert O. Posey and FBI Special Agent in Charge Roger C. Stanton.The U.S....
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May 08, 2017, 07:16 AM
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Michael Conway, the President of Choice Office Solutions LLC, was sentenced by United States District Judge William F. Kuntz to 4 years in prison. In February 2016, Conway had pleaded guilty to wire fraud in connection with a scheme where he forged...
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January 12, 2017, 07:22 AM
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A federal grand jury last week indicted two former Regions Bank employees for conspiracy in a $5 million bribery and wire fraud scheme, announced U.S. Attorney Joyce White Vance and FBI Special Agent in Charge Roger C. Stanton.A 39-count indictment...
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July 11, 2016, 07:19 AM
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On February 18, 2016, Michael Conway, the President of Choice Office Solutions LLC, pleaded guilty to wire fraud in connection with a scheme where he forged numerous lease agreements to defraud an individual investor and De Lage Landen Financial...
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February 19, 2016, 07:16 AM
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Brooklyn District Attorney Ken Thompson announced that the owner of an optical store in Park Slope, Brooklyn, and the owner of a dealership that specializes in the sale of medical equipment have been variously charged in a 148-count indictment for...
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December 04, 2015, 07:36 AM
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Bart A. Witsman, 40, of Murfreesboro, Tennessee, former Chief Financial Officer of Vermeer (Tennessee), Inc., was sentenced on September 21, 2015, by United States District Court Judge Todd J. Campbell, to 44 months in prison, to be followed by a...
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September 29, 2015, 07:16 AM
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Michael Conway, the President of Choice Office Solutions LLC (Choice Office), was arrested on September 9, 2015 on charges of wire fraud and aggravated identity theft in connection with a scheme where he forged lease agreements to defraud an...
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September 10, 2015, 07:16 AM
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A Yardley, Pennsylvania, man was sentenced on Monday, July 27, 2015 to 30 months in prison for using his position at a Freehold, New Jersey, office equipment leasing company to defraud clients out of more than $600,000, U.S. Attorney Paul J. Fishman...
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July 28, 2015, 07:19 AM
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The former director of finance and accounting at Gulfstream Aerospace Corporation’s Long Beach facility was sentenced to 135 months in federal prison for embezzling more than $10 million from his employer over a 13-year period.Marvin Jay Caukin, 66...
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June 24, 2015, 07:12 AM
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U.S. District Court Judge Michael W. Mosman sentenced Bryan Scott Gunn, 40, of Victorville, California, yesterday to 20 months in prison for coning investors out of almost $1 million. Judge Mosman also sentenced Gunn to serve three years of...
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June 18, 2015, 07:05 AM
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According to an article posted on The North Bay Business Journal website, attorneys and accountants working on the Warren Capital fraud case billed a total of more than $818,000 through January 2015, according to new documents received by The North...
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March 24, 2015, 07:09 AM
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Conner Eldridge, United States Attorney for the Western District of Arkansas, announced that Andrew C. Judkins of Bixby, Oklahoma, formerly of Fayetteville, was found guilty on two counts of Bank Fraud following a five day jury trial. During the...
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March 10, 2015, 07:21 AM
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According to a report from the Star Ledger, GE Capital is seeking to obtain an order allowing it to seize medical equipment from a New Jersey medical imaging company accused of operating an $8 million Medicaid fraud scheme. The collateral includes...
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September 26, 2014, 07:14 AM
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Tammy Dickinson, United States Attorney for the Western District of Missouri, announced that a Neosho, Mo., man was sentenced in federal court today for stealing more than $4.9 million from his employer.David VanWinkle, 61, of Neosho, was sentenced...
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September 22, 2014, 07:07 AM
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According to the Courier-Post, Lease Group Resources Inc. (LGR) of Mount Holly, New Jersey, the equipment-leasing company at the center of an alleged $8.8 million bank fraud currently has assets of about $600,000, a court-appointed receiver says.The...
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July 07, 2014, 07:00 AM
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The CEO of Lease Group Resources, Inc. was arrested on June 24th for allegedly orchestrating a large scale check-kiting scheme that caused $8.8 million in losses to three banks in New Jersey, U.S. Attorney Paul J. Fishman announced. Luis G. Rogers Sr...
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June 26, 2014, 07:00 AM
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A former partner of a Freehold, New Jersey-based office equipment leasing company admitted stealing more than $600,000 in a fraudulent loan scheme, U.S. Attorney Paul J. Fishman announced. Jason Lee Lum, 35, of Yardley, Pennsylvania, pleaded guilty...
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April 10, 2014, 07:04 AM
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Manhattan District Attorney Cyrus R. Vance, Jr., announced the indictments of Steven Davis, Stephen DiCarmine, Joel Sanders, and Zachary Warren. The first three defendants were, respectively, the Chairman, the Executive Director, and the Chief...
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March 07, 2014, 07:02 AM
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According to a press release issued by the U.S Attorney's Office - Northern District of Illiniois, an owner of a bankrupt Palatine company that sold refurbished semiconductor-making machinery and the owner of a Pennsylvania company that sold machine...
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March 03, 2014, 07:07 AM
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Lancaster Online reported two defendants in the Equipment Finance Inc. fraud case were sentenced Thursday to a year and a day in prison for their roles in the fraud.Misty Kroesen and her husband, Curtis, were sentenced by U.S. District Judge Paul...
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January 11, 2013, 07:12 AM
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The second leader of the Equipment Finance Inc. loan fraud was sentenced on Wednesday, September 12 to 20 years in prison. Michael J. Schlager also was ordered to pay restitution of $53 million by U.S. District Judge Paul S. Diamond in...
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September 13, 2012, 06:13 AM
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The Pittsburg Post-Gazette reported the son and wife of former Le-Nature's Inc. CEO Gregory J. Podlucky were sentenced to nine and four years in prison, respectively, ending the criminal cases associated with the Latrobe beverage maker's...
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April 27, 2012, 06:30 AM
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Lancaster Online reported that a leader of the Equipment Finance Inc. loan fraud will testify against two of his former employees, whose trial starts Tuesday in Philadelphia. According to the report, Joseph M. Braas, EFI's senior vice president and...
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April 10, 2012, 07:45 AM
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Reuters reported that CIT Group won preliminary court approval on Friday of a $75 million settlement to resolve allegations the commercial lender fraudulently misled shareholders about its exposures to risky mortgages and student loans. Shareholders...
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March 26, 2012, 07:00 AM
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Bloomberg reported that BCI Aircraft Leasing Inc. and its principal, Brian Hollnagel, were found guilty by a federal court jury of engaging in a fraudulent $50 million financing scheme, Chicago U.S. Attorney Patrick Fitzgerald said. He faces as long...
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March 15, 2012, 08:15 AM
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Bloomberg reported that Bruce Donner, the owner of Donner Medical Marketing Inc., a medical equipment company, was sentenced to 18 months in prison for his role in a medical equipment-leasing Ponzi scheme that cost investors $80 million.Mr. Donner...
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March 09, 2012, 08:00 AM
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