The office of the U.S. Attorney for the Central District of Illinois issued the following news release:. District Judge Collen R. Lawless, Williams admitted that for the 2016 growing season he obtained a loan of approximately $4.6 million from First Security Bank and Gifford State Bank on behalf of his farming operation, RJW Williams Farms, Inc. The loans were…
News coverage of insurance industry and financial advisor regulation.
More Stories
In federal legal filings last week, Murdaugh said the heirs of his family's late housekeeper, Gloria Satterfield, who died of injuries from a 2019 fall at his house, should be made parties to a lawsuit by the insurance company that paid out $3.8 million for the fraudulent claim made after her death. That $3.8 million in insurance money from Nautilus Insurance was…
The Securities and Exchange Commission today charged Matthew J. Werthe, a San Diego, California- based investment adviser, for defrauding his clients by conducting a cherry-picking scheme and making related false and misleading statements. According to the SEC's complaint, from May 2021 through March 2022, Werthe placed securities trades using a block…
Four Iowa businessmen accused of fraudulently collecting millions in tax credits from the U.S. Treasury are now being sued in federal court for $70 million. The lawsuit, filed in U.S. District Court for the Southern District of Iowa, paints a startling picture of how four Iowans allegedly invested a total of $250 to establish an Iowa company that quickly…
May 5— A Glastonbury man held civilly liable in 2011 along with former Manchester Mayor Peter P. DiRosa Jr. and others for defrauding a retiree in Maine of $1.4 million, was sentenced this week to four years in federal prison for a separate $6.2 million fraud, the Massachusetts U.S. attorney's office says. Thomas David Renison, 69, of the South Glastonbury section of…
Donelon issues $2 M in fines to McClenny Moseley& Associates for insurance fraud scheme. BATON ROUGE— Insurance Commissioner Jim Donelon issued fines totaling $2 million this week to Texas law firm McClenny Moseley& Associates, founding partners James McClenny and John Moseley, and Louisiana managing partner William Huye III for engaging in unfair trade…
Four Iowa businessmen accused of fraudulently collecting millions in tax credits from the U.S. Treasury are now being sued in federal court for $70 million. The lawsuit, filed in U.S. District Court for the Southern District of Iowa, paints a startling picture of how four Iowans allegedly invested a total of $250 to establish an Iowa company that quickly…
The Fed raises rates again, continues tug-of-war with inflation
The Fed’s tug-of-war against inflation continued this week as the central bank again raised interest rates to ward off rising prices while crossing its fingers that it won’t wreck the economy by pushing joblessness to new heights.
Damian Williams, the United States Attorney for the Southern District of New York, announced that STEVEN SHORT, the former head of Florida- based E.M. Systems& Services LLC and affiliated companies, was sentenced today to 78 months in prison for conspiracy to commit wire fraud and bank fraud in connection with his participation in a fraudulent scheme to obtain…
COLLETON COUNTY, S.C.- Disgraced former Hampton County attorney and convicted murderer Alex Murdaugh is responding to a May 2022 lawsuit filed by his former insurance company claiming Murdaugh defrauded the company out of millions when he got a payout for the death of his former housekeeper. Nautilus Insurance Company covered Murdaugh in 2018 when his…
May 2— A 57- year-old Hudson man who owns and operates a health club in Nashua was indicted in federal court Monday for attempting to fraudulently obtain over $1 million in CARES Act funding— the latest in a pipeline of cases in New Hampshire related to the illegal use of COVID rescue plan money. Matthew Dispensa, owner/operator of the Gateway Hills Health Club in…
COLUMBUS, Ohio– A disgraced Belmont County attorney who stole more than $800,000 from an elderly client with dementia will spend five years behind bars. Mark Alan Thomas, 63, of St. Clairsville, was sentenced in federal court on Tuesday after pleading guilty to mail fraud associated with his theft of $882,502 from an 86- year-old woman over the course of nearly…
The Wisconsin Office of the Commissioner of Insurance recently released a list of administrative actions for April. The actions are…
The U.S. Attorney for the District of Massachusetts, Rachael S. Rollins, issued the following news release on April 28, 2023:. A Rhode Island man pleaded guilty yesterday in federal court in Boston in connection with a fraudulent scheme to obtain over $450,000 in COVID-19-related unemployment assistance. Alexander participated in a scheme that obtained over…
Silicon Valley Bank failed due to a perfect storm of incompetent management, insufficient supervision and weak regulations, the Federal Reserve said in a report Friday. "Following Silicon Valley Bank's failure, we must strengthen the Federal Reserve's supervision and regulation based on what we have learned," said Michael Barr, the Fed's vice chair for…
The chief of staff for the Cobb County Sheriff's Office was arrested Friday and charged with insurance fraud and making false statements. "The investigation is unrelated to his duties at the Cobb County Sheriff's Office," the statement said. "He previously worked jobs at the Georgia Board of Pardons and Paroles, the Governor's Office of Transition, Support and…
Two former leaders of We Build the Wall, where Kansas Attorney General Kris Kobach was the top lawyer, have been sentenced to prison for defrauding hundreds of thousands of donors to the non-profit effort to build strips of privately-funded wall along the southern border. Steve Bannon, a former adviser to former President Donald Trump who was involved with the…
–Christopher Burns, a former youth pastor at Perimeter Church in Georgia turned financial advisor, is now on the FBI' s Most Wanted list for allegedly defrauding dozens of investors of millions of dollars, which he splurged on a lavish lifestyle and an obsession with Disney World. "Burns is charged for allegedly stealing millions of dollars from clients in an…
JACKSON, Miss.– A Jackson lobbyist pled guilty on Wednesday to conspiracy to defraud investors in a timber deed investment scheme. U.S. Attorney Darren J. LaMarca said Ted Brent Alexander, 57, of Jackson pled guilty before U.S. This guilty plea resulted from an investigation by the Federal Bureau of Investigation.
The U.S. Attorney for the Northern District of Alabama, Prim F. Escalona, issued the following news release on April 26, 2023:. Another individual has been convicted in the latest in a series of cases involving multi-million-dollar health care fraud and kickback conspiracies, announced U.S. Attorney Prim F. Escalona, Federal Bureau of Investigation Special…
