Insurance & Financial Fraud

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

North Carolina Insurance Commissioner Mike Causey announced the arrests of Allen Ray Gowans and Natasha Die’t Jones as result of…

Iowa Insurance Commissioner Doug Ommen was appointed the receiver of Beckstone Partners, LLC (Beckstone), DesFined, LLC (DesFined), East King Management,…

The office of the U.S. Attorney for the District of Massachusetts issued the following news release on July 12, 2024:. Five Massachusetts residents and one New York resident have been charged in connection with a scheme to defraud various health insurance companies by submitting fabricated claims seeking reimbursement for over $1 million worth of bogus…

ST. LOUIS— A doctor, his partner and a front desk receptionist have been indicted in U.S. District Court on charges of health care fraud and illegally prescribing controlled substances. The alleged goal of the conspiracy was to create higher profit margins by billing insurance companies for prescriptions given for“ no legitimate medical purpose,” from at least…

Rishi Shah, the Indian-American cofounder of Outcome Health, has been sentenced to seven and a half years in prison. This sentence comes after his involvement in a $1 billion fraud scheme that affected major investors like Goldman Sachs, Google’s parent company Alphabet, and Illinois Governor JB Pritzker’s venture capital firm.

The legal representatives for both parties in the SEC vs. Kraken lawsuits laid out their arguments on whether digital assets on the Kraken crypto exchange fall within the class of securities or not. In their motion, Kraken counsel reproved the legal theory that the exchange operates as an ecosystem for crypto asset securities, thereby pushing…

Zachary James Flaherty, 48, of Clive, Iowa, was sentenced on June 12 to 222 months (18.5 years) in prison after…

A New Jersey man who orchestrated a 13- year long, $60 million no-fault automobile insurance scam in New York has been sentenced to 10 years in prison. Through bribery and manipulation, Pierre callously exploited the system, denying accident victims the rightful care they deserved, "commented Damian Williams, the U.S. Attorney for the Southern District of New…

Lamor Whitehead, the politically connected "Bling Bishop" of Brooklyn who was convicted on a slate of fraud charges in March, is pleading for his release from the borough "s infamous Metropolitan Detention Center, where his lawyer alleges he has been deprived of food and kept in a near-constant lockdown due to a gun recently being found in another inmate" s cell.

A Bozeman attorney was charged last week in connection to the alleged operation of a Ponzi scheme and the defrauding of investors and farmers of more than $6 million via a Texas- based CBD isolate start-up. Michael Rabb of the Rabb Law Firm and three others, including Byron Gruber— who previously practiced law in Gallatin County— were charged with six felonies…

A Sacramento man and co-owner of a Newport Beach investment firm found to have helped bilk victims out of millions of dollars through bogus real estate deals was sentenced to five years of probation on Tuesday, June 4. Louis Zimmerle, 64, pleaded guilty last October to one count of wire fraud for his part in what federal investigators said was a $13.8 million…

Hopes were high in Lincoln County and other Montana locales when a Texas hemp processing facility came to the state five years ago with big promises of new jobs and big money for investors. According to a press release from the state, the Commissioner of Securities Insurance and Gallatin County Attorney charged Michael Rabb and Byron Gruber, Jason Bradley…

A barred investment broker from Glen Cove pleaded guilty to grand larceny and other fraud charges on Feb. 9th after defrauding investors with a half-million dollar stock scheme, deceiving them to believe they were purchasing pre-IPO stock for well-known companies, according to the Nassau County District Attorney's Office. Peter Quartararo, 57, pleaded…

Billionaire Michael J. Saylor has agreed to pay the District $40 million to settle the city's claims that the founder of software company MicroStrategy cheated on his taxes by falsely claiming he was not a resident. Under the agreement announced by Attorney General Brian Schwalb, Mr. Saylor and his Virginia- based company deny any wrongdoing.

Bill Guan, 61, is charged in U.S. District Court in lower Manhattan with two counts of bank fraud and one count of conspiracy to commit money laundering. Mr. Guan was arrested Sunday and made his first appearance Monday before U.S. Magistrate Judge Stewart D. Aaron, where he pleaded not guilty and released on a $3 million bond. District Judge Victor Marrero, the…

"They're gonna have to start liquidating assets," Cohen said in an interview on MSNBC's "Velshi" with anchor Ali Velshi, calling the legal fees that Trump owes in various lawsuits an "enormous amount of money he does not have." The former president also faces an $83.3 million fine another New York judge ordered him to pay last month to columnist E. Jean Carroll for…

Feb. 15— A Bristol insurance producer has been sentenced to nearly three years in federal prison after he defrauded eight investors of nearly $1.2 million, including a widow with memory impairment from whom he took nearly $900,000, authorities said. John Horvath was sentenced Thursday to 34 months in prison followed by two years of supervision after his…

A federal grand jury has returned an indictment charging David Godin, a/k/a " James St Patrick," a/k/a " David Wetty," a/k/a "Vic Pro" for wire fraud and aggravated identity theft, in connection with a scheme to defraud the Maryland Department of Labor and California Employment Development Department of unemployment insurance benefits during the COVID-19…