wire fraud

14 Stories

Alleged Insider Trader Maybe Did Too Much Googling

Didn't cover up online search history for 'insider trading' too well, prosecutors say

(Newser) - If you don't want the SEC to pick up on the fact that you've carried out an unusual trade, you probably shouldn't Google "how sec detect unusual trade," or "insider trading in an international account." Those are the phrases that federal prosecutors allege... More »

Former Feds Busted for Boosting Bitcoins

Ex-DEA, Secret Service agents stole digital currency during Silk Road probe: report

(Newser) - What do you do if you're a federal agent who's part of an undercover operation to bust up a booming black-market drug-dealing website? One thing you don't usually do is skim a goodly portion of said site's digital currency into your pockets, but two former federal... More »

Feds: Seized 7-Elevens Ran 'Modern Plantation System'

Employed, exploited unauthorized immigrants, say officials

(Newser) - Homeland Security and the DOJ raided 14 7-Eleven stores in Virginia and New York today, charging nine owners and managers with employing unauthorized immigrants and identify theft. According to officials, the stores hired more than 50 unauthorized immigrants, supplied them with stolen identities—some taken from children and dead people—... More »

Jesse Jackson Jr. Pleads Guilty

Judge says he's not bound by sentencing guidelines

(Newser) - Jesse Jackson Jr. dabbed his eyes with a handkerchief today and looked to his father, and the rest of his family gathered in court. "Guilty, your honor," he said, making official his reported intention to plead guilty to having misused $750,000 in campaign funds. Jackson pleaded guilty... More »

Banker Busted for Role in Financial Crisis

Ex-Credit Suisse exec faces extradition to US

(Newser) - A former Credit Suisse banker accused of contributing to the 2008 financial crisis in an effort to boost his bonus has been arrested in Britain and faces extradition to the US. Kareem Serageldin, who was arrested outside the US Embassy in London, allegedly inflated the values of mortgage-backed securities as... More »

Feds: 'Psychic' Family Scammed $40M

Claimed they spoke to God, made a fortune

(Newser) - If only they were real psychics, maybe they would have seen this coming. A Florida family has been indicted for running a psychic advice business that scammed clients out of $40 million over two decades, reports the Miami Herald . In "Operation Crystal Ball," federal prosecutors charged 10 people... More »

State Department Spy for Cuba Sentenced to Life

Walter Kendall Myers, 73, confessed to espionage, wire fraud

(Newser) - A 73-year-old retired State Department employee who was also a spy for Cuba for almost 30 years was sentenced to life in prison today after pleading guilty to espionage and wire fraud. Walter Kendall Myers was also fined $1.7 million—including the money he was paid as a government... More »

Palin Hacker Found Guilty on 2 Counts

David Kernell convicted of obstruction of justice, unlawful email access

(Newser) - A federal jury has convicted a 22-year-old former University of Tennessee student of hacking Sarah Palin's Yahoo email account during the 2008 campaign. David Kernell was acquitted of wire fraud but convicted of a felony, obstruction of justice, and a misdemeanor, unlawful computer access. The jury failed to reach a... More »

NY Lawyer Pleads Guilty to $400M Fraud

Dreier bilked clients, spent cash on yacht and beach houses

(Newser) - New York lawyer Marc Dreier pleaded guilty yesterday to selling hundreds of millions in bogus promissory notes to hedge funds and other clients, reports the Times. Dreier, 59, used the $400 million to fund a Manhattan apartment, beachfront houses, and an $18 million yacht. “He has disgraced the honorable... More »

Polaroid Files for Bankruptcy a Second Time

Photography icon blames fraud at parent company

(Newser) - Polaroid is blaming fraud at its parent company for its second bankruptcy filing in 7 years, Bloomberg reports. The instant photography pioneer says it has “ample cash reserves” and doesn’t expect to seek additional financing under Chapter 11 reorganization. But the Petters Group, which acquired the 71-year-old firm... More »

Email May Toast Arrested Bear Fund Managers

Pair faces charges of misleading investors in $1.6B collapse

(Newser) - A pair of former Bear Stearns hedge-fund managers arrested today on federal fraud charges could be done in by an email in which one described their market position as "toast"—days before telling investors it was "quite comfortable." Matthew Tannin and Ralph Cioffi will be indicted... More »

Renzi Should Step Down, House GOP Leader Says

GOP doesn't want to weather another scandal

(Newser) - House Minority Leader John Boehner is pressuring Rep. Rick Renzi, indicted yesterday for extortion, money laundering, and fraud in connection with an Arizona land deal, to step down, urging his fellow Republican "to seriously consider whether he can continue to effectively represent his constituents under these circumstances.” Boehner... More »

Brit Enron Bank Grafters Plead Guilty

'Natwest Three' confess to fraud charge in plea bargain

(Newser) - Three British bankers confessed to an Enron scam in Texas yesterday, admitting to a single charge of transatlantic wire fraud as part of a plea bargain. They'll now have to pay back the $7.3 million the scam netted. The "Natwest Three" said in a statement they hoped this... More »

Pentagon Spent $1M on 2 Washers

Crafty twin sisters bilked government out of $20.5 million over 6 years

(Newser) - Twin sisters at a parts supplier scammed the Pentagon out of $20.5 million in fraudulent  shipping costs, including $998,798 they charged to ship two 19-cent washers and half a mil to ship three machine screws to Iraq. The Pentagon took six years to catch on to the sisters'... More »

14 Stories