For the last two years, the online land records page in the town of Fairfield has offered a "fraud alert" service. It's part of the careful new world– but no one could anticipate the situation that's unfolding on Sky Top Terrace, near Sacred Heart University. After medical school in New York and residency in Maryland, he and his wife raised their two children on Long…
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Five individuals, including Bear and Middletown residents, were charged for their roles in obtaining federal Paycheck Protection Program loans and Economic Injury Disaster Loans (EIDL. Adrienne Ponzo, 48, of Bear, is charged with one count of conspiracy to commit wire fraud and remains at large. James Wessels, 53, of Middletown is charged with one count of…
Ex-millionaire who had ties to corrupt politicians gets 5-plus years in prison for real estate fraud
—A one-time millionaire real estate developer with past ties to corrupt Connecticut politicians was sentenced to more than five years in prison on Monday for fraud involving a failed hotel-condominium project in Florida and properties elsewhere. Robert Matthews requested a prison sentence of no more than 27 months, but instead got 65 months from Judge…
Bill seeks insurance companies’ fossil fuel investment disclosures
As more insurers abandon areas hit by natural disasters, a new bill seeks to determine if those companies profit off fossil fuel investment.
He obtained $1.5 million in federal COVID relief funds. BOSTON- The owner of a Massachusetts food truck business has been sentenced to two years in prison for fraudulently obtaining about $1.5 million in federal COVID-19 pandemic relief loans- money that he used to invest in the stock market. Loc Vo owned Smart Gourmet LLC, a food truck business in Massachusetts,…
COLUMBUS, Ohio— A former treasurer for a group representing Columbus City Schools union members pled guilty to bank fraud on Wednesday, according to Kenneth Parker, United States Attorney for the Southern District of Ohio. Court documents stated that 72- year-old Phelton Woods of Reynoldsburg wrote unauthorized checks from the Columbus School Employees…
A California Institution for Women inmate serving a life sentence for murdering her mother became the 14th person convicted in a scheme to fraudulently obtain more than $1.5 million in California unemployment insurance benefits between June 2020 and April 2021. The benefits were mostly relief payments earmarked for California residents who were…
Despite improving economy, Fed rate hike expected
Despite an improving economy, the Fed is poised to raise interest rates, after taking a break from its record 10 consecutive rate hikes.
Ratha Yin was sentenced to 55 months in prison for his part in a conspiracy to commit mail and wire fraud in a scheme to defraud the State of California by filing unemployment claims in the names of other people, announced United States Attorney Ismail J. Ramsey and Federal Bureau of Investigation Special Agent in Charge Robert K. Tripp, and Department of Labor…
Policyholders still waiting as regulators unwind Greg Lindberg insurers
For many policyholders who purchased life insurance or annuities through Bankers Life, or another insurer formerly owned by Greg Lindberg, the wait to access their frozen funds is difficult to accept.
The U.S. Attorney for the Southern District of Ohio, Kenneth L. Parker, issued the following news release July 18, 2023:. A Tipp City man was sentenced in U.S. District Court today to 18 months in prison for defrauding a local non-profit organization. According to court documents, Draines controlled and operated Freedom for Living Property Management, LLC in Tipp…
The U.S. Attorney for the Northern District of California, Ismail J. Ramsey, issued the following news release on July 17, 2023:. A federal jury today convicted Harlan Kelly, the former General Manager of the San Francisco Public Utilities Commission of charges that he accepted bribes and gifts from a local businessman in a scheme to provide confidential…
A 69- year-old man has been sentenced to 78 months in prison for his role in a fraud scheme that led to a federally recognized American Indian tribe in Michigan losing more than $1 million, authorities announced Monday. Between December 2015 and December 2016, he served as CEO of an entity focused on developing economic opportunities to benefit the Grand…
N.Y. regulators hit insurance companies for multiple policy versions
New York regulators put insurance companies on notice for selling multiple versions of the same policies, saying the practice is discriminatory.
The highly publicized lawsuit brought by Mallory Beach’ s family in her 2019 boat crash death against a Lowcountry convenience store operator and former lawyer Alex Murdaugh was settled Sunday for $15 million, lawyers connected with the case said. Lawsuits brought by four other passengers on the boat, allegedly piloted by an intoxicated Paul Murdaugh, were…
The U.S. Attorney’ s Office in Portland has won another case involving fraud of pandemic loans, with a Beaverton man convicted of defrauding banks and the federal government. The U.S. District Court in Portland last week sentenced 62- year-old Theodore Johnson to serve 15 months in federal prison for one count of bank fraud. Court documents filed by U.S. Attorney…
Temple noted that Louisiana homeowners face difficult market conditions with insurance premiums in large part because of recent hurricanes and tornadoes, which have affected nearly all areas of the state. He said he was pleased with the Louisiana Legislature's recent approval of funding to fortify homes, including roof and water intrusion mitigation…
SAN DIEGO– Constantin Sandu of Romania pleaded guilty in federal court on Tuesday, July 11, admitting that he masterminded a scheme to steal more than $5 million in California unemployment insurance benefits intended to help workers impacted by the pandemic. plus 213 unnamed Romanian co-conspirators across California and in Romania to fraudulently obtain…
Andrew Marnell, a resident of West Los Angeles, has been sentenced to 79 months in federal prison for orchestrating a scheme to fraudulently obtain approximately $9 million in COVID-19 business loans. Marnell, 43, used a portion of the funds for gambling trips to Las Vegas and transferred some to his stock trading accounts. Between March and July 2020, Marnell…
SEC acknowledges JAMS arbitration issue, but offers no fix
Attorneys and arbitration experts say the JAMS forced arbitration process harms investors and allows RIAs to avoid liability for misconduct.
