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News Stories (39 Results) - Fraud

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... Read Story
October 14, 2020, 07:05 AM

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... Read Story
September 30, 2020, 07:21 AM

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... Read Story
August 05, 2020, 07:25 AM

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... Read Story
May 05, 2020, 07:20 AM

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... Read Story
February 21, 2020, 07:10 AM

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... Read Story
February 18, 2020, 07:22 AM

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... Read Story
December 09, 2019, 07:30 AM

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... Read Story
December 06, 2019, 07:30 AM

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... Read Story
September 04, 2019, 07:30 AM

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... Read Story
July 29, 2019, 07:30 AM

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... Read Story
November 07, 2018, 07:25 AM

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... Read Story
June 08, 2018, 07:30 AM

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... Read Story
June 08, 2017, 07:18 AM

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.... Read Story
May 08, 2017, 07:16 AM

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... Read Story
January 12, 2017, 07:22 AM

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... Read Story
July 11, 2016, 07:19 AM

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... Read Story
February 19, 2016, 07:16 AM

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... Read Story
December 04, 2015, 07:36 AM

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... Read Story
September 29, 2015, 07:16 AM

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... Read Story
September 10, 2015, 07:16 AM

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... Read Story
July 28, 2015, 07:19 AM

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... Read Story
June 24, 2015, 07:12 AM

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... Read Story
June 18, 2015, 07:05 AM

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... Read Story
March 24, 2015, 07:09 AM

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... Read Story
March 10, 2015, 07:21 AM

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... Read Story
September 26, 2014, 07:14 AM

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... Read Story
September 22, 2014, 07:07 AM

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... Read Story
July 07, 2014, 07:00 AM

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... Read Story
June 26, 2014, 07:00 AM

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... Read Story
April 10, 2014, 07:04 AM

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... Read Story
March 07, 2014, 07:02 AM

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... Read Story
March 03, 2014, 07:07 AM

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... Read Story
January 11, 2013, 07:12 AM

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... Read Story
September 13, 2012, 06:13 AM

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... Read Story
April 27, 2012, 06:30 AM

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... Read Story
April 10, 2012, 07:45 AM

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... Read Story
March 26, 2012, 07:00 AM

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... Read Story
March 15, 2012, 08:15 AM

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... Read Story
March 09, 2012, 08:00 AM