Insurance & Financial Fraud

A 2025 Facebook ad featuring an AI-generated video of Prime Minister Mark Carney endorsing a cryptocurrency platform cost Judy Skene, an elderly widow from Sault Ste. Marie, Ontario, nearly $1 million, the latest case in a surge of deepfake investment scams that Canadian authorities say have generated over $1.2 billion in reported losses since 2022.

The Idaho Department of Insurance announced that Stetzen Bailey, of Heyburn, Idaho, pled guilty on February 23, 2026, to one…

The Wisconsin Office of the Commissioner of Insurance recently released a list of administrative actions for May. The actions are…

TAMPA, Fla.— A Brandon man has been indicted on a count of mail fraud as part of a mortgage fraud scheme, according to federal prosecutors. The U.S. Attorney's Office for the Middle District of Florida said Brandon Dutch Mendenhall, 46, of Brandon, Florida, operated RAD Diversified REIT and other investment funds that got people to invest in real estate.

Massachusetts Attorney General Andrea Joy Campbell on Friday sued­ UnitedHealth Group’ s insurance subsidiary, UnitedHealthcare, alleging the company intentionally made low-income older adults appear sicker than they were over the past decade to boost its bottom line. Pressure to increase revenue and profit in the Medicaid plan in the state led the…

Federal prosecutors in the U.S. have charged an employee of Google parent company Alphabet (NASDAQ: $GOOGL) with fraud related to a bet he made on prediction market Polymarket. Prosecutors allege that Michele Spagnuolo, a staff information security engineer at Google, made $1.2 million U.S. off of bets using insider information on Polymarket.

Bitcoin Depot (NASDAQ: $BTM), the largest operator of Bitcoin (CRYPTO: $BTC) ATMs in North America, has filed for Chapter 11 bankruptcy and is closing up shop. The Atlanta-based company filed for protection from its creditors and said it plans to wind down operations and sell its assets. Its entire ATM network has been taken offline.

Let me hit you with a scene from the movie adaptation of Michael Lewis's book on the subprime mortgage crisis, The Big Short. First some context: in the movie, hedge fund manager, Mark Baum has purchased credit default swaps from derivatives trader, Jared Vennett as a short against $1 billion in subprime mortgage-backed securities. Jared: Listen, I told you when we…

LUBBOCK, Texas— In late March, a federal bankruptcy judge in Texas dismissed fraud claims against several banks and lenders accused of enabling a large cattle‑ industry Ponzi scheme with ties to Kentucky. Brian McClain is alleged to have orchestrated a Ponzi and check‑ kiting scheme involving fictitious cattle inventories through three interconnected…

Danny W. Seibel, 55, of Lindsay, was indicted Dec. 3, 2025, on 18 crimes outlined in a 19- page indictment issued by a federal grand jury in Oklahoma City's Western District federal court. The First National Bank of Lindsay was closed Oct. 18, 2024; the Federal Deposit Insurance Corp. was named receiver; and the bank's insured deposits were transferred to First Bank&…

The Wisconsin Office of the Commissioner of Insurance recently released a list of administrative actions for April. The actions are…

Account holders across California could be eligible for payouts after the international banking company reached a $425 million settlement in a class action lawsuit. “Capital One assured high returns with no catches, then pulled the rug out from under their customers and hoped nobody would notice,” New York Attorney General Letitia James said in a 2025…

Justin Sun, a Chinese national accused of fraud who invested $75 million in President Trump’ s crypto firm after his election victory, is now suing the shady venture, which he says is“ on the brink of collapse.”. Sun noted that he remains an“ ardent supporter of President Trump and his Administration’ s efforts to make America crypto friendly,” regardless of the lawsuit,…

Towson attorney Jacob Rappaport pleaded guilty to felony conspiracy charge of bank fraud. Rappaport reportedly conspired with investor Alexander Schultz to inflate real estate prices in Baltimore deals. A Towson attorney pleaded guilty Wednesday to a felony conspiracy charge after federal prosecutors accused him of fraudulently inflating prices in…

Defendant Joshua Flores, a truck driver, had illegally parked his tractor-trailer for the night in the shoulder area of an acceleration lane exiting a rest stop in Montgomery County. Plaintiffs raise negligence and respondeat superior claims against Joshua Flores and Move Freight Trucking LLC. Move Freight Trucking, LLC and Joshua Flores argue that Lopez’ s…

The Wisconsin Office of the Commissioner of Insurance recently released a list of administrative actions for March. The actions are…

The office of the U.S. Attorney for the Southern District of New York posted the following news release:. United States Attorney for the Southern District of New York, Jay Clayton, announced today the unsealing of an Indictment charging RONALD SMITH, formerly a registered broker at a brokerage firm in New York City, with securities fraud, wire fraud, falsification…

Defendants also include Highmark and UPMC, who pay Express Scripts to manage their drug plans. When Express Scripts separated from Martella’ s Pharmacy last year, those insurers deferred comment to Express Scripts. The class action filed on behalf of Johnstown- area residents is one of many lawsuits against Cigna’ s Express Scripts subsidiary.

JPMorgan Chase JPM has been sued by victims of an alleged $328- million cryptocurrency Ponzi scheme in a case that raises fresh questions about whether large banks are doing enough to detect and prevent financial crime. The proposed class action, filed in federal court in California, accuses JPMorgan of enabling fraud linked to crypto investment firm…