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Scammers Use Dead Doctors to Bilk Medicare
Tweet Share on Facebook July 9, 2008 Comment (11)While a dead doctor isn't much use to a patient, it turns out they can be quite helpful to perpetrators of Medicare fraud.
From The Associated Press:
Sellers of wheelchairs, drugs, and other medical supplies collected as much as $93 million in fraudulent Medicare claims based on prescriptions from doctors who actually were dead, some for 10 years or more, a congressional investigation has found.
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Fugitive Executive Surrenders
Tweet Share on Facebook July 3, 2008 Comment (3)Less than a month after disappearing under suspicious circumstances, former hedge fund cofounder Samuel Israel gave himself up to authorities Wednesday, the Associated Press reports.
So where was this crooked executive hiding out all this time?
From the Associated Press:
Officials said that after Israel abandoned his car, he took off in a white recreational vehicle carrying a motor scooter and his belongings. He was believed to be staying at RV parks, campgrounds, or highway rest areas.
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Another State—Florida—Sues Countrywide
Tweet Share on Facebook July 2, 2008 Comment (35)Last week, attorneys general in California and Illinois filed lawsuits against beleaguered mortgage lender Countrywide. On Monday, Florida threw its hat in the ring as well:
From Reuters:
Florida sued mortgage lender Countrywide Financial Corp. on Monday for predatory lending practices, alleging the company at the center of the U.S. mortgage crisis made subprime loans to people who could not repay them.
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California and Illinois Sue Countrywide
Tweet Share on Facebook June 26, 2008 Comment (15)Beleaguered mortgage lender Countrywide faces a fresh set of headaches after attorneys general in two states filed lawsuits against the company.
From the Associated Press:
Countrywide Financial Corp. is accused of using misleading advertising and other unfair business practices to trick borrowers into taking on risky home loans they didn't fully understand in a lawsuit filed Wednesday by the California attorney general's office.
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Ex-Chicago Bears Fullback Admits Fraud
Tweet Share on Facebook June 19, 2008 CommentRoland Harper, an ex-Chicago Bears fullback who once charted running lanes for Hall of Famer Walter Payton, could find himself in prison for more than a year after admitting his involvement in a fraudulent scheme.
Harper pleaded guilty Tuesday to serving as "a front man in a fraud involving a $1.5 million Chicago Public Schools landscaping contract reserved for minority firms," the Associated Press reports.
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Feds: Crooked Executive Didn't Kill Himself
Tweet Share on Facebook June 18, 2008 Comment (1)The mystery surrounding the whereabouts of financial fraudster Samuel Israel III deepened Monday, as the feds officially ruled out suicide.
Israel's abandoned vehicle was found on a bridge in New York State—with the phrase "Suicide is Painless" written on it—on the very same day he was supposed to begin serving his 20-year prison sentence for fraud and conspiracy.
From the Associated Press:
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Did Crooked Executive Fake Suicide?
Tweet Share on Facebook June 11, 2008 Comment (2)Although a financial fraudster reportedly left his car on a bridge with the words "Suicide is Painless" written in dust on the vehicle, police and investors aren't convinced he took his own life.
Why? Because the swindler—Bayou hedge fund cofounder Samuel Israel III—was recently sentenced to a 20-year prison term for fraud and conspiracy. He was scheduled to begin serving the sentence Monday, the same day his abandoned car was found.
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Fake Refund Scam Reported
Tweet Share on Facebook June 9, 2008 CommentLooks as if Internet fraudsters are zeroing in on the same folks they've already duped. The FBI is warning the public to be on the lookout for E-mails falsely offering refunds to victims of Internet fraud schemes. The phony E-mails purport to be from the government of the United Kingdom and the Internet Crime Complaint Center.
From the FBI press release:
The e-mails promise refunds of thousands of dollars which are to be sent via bank wire transfer from the "bank of England [sic]" once the victim signs a "fund release order." The e-mails contain warnings that failure to sign the order will place the funds on hold and a penalty will be applied.
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Walgreens Settles Medicaid Fraud Allegations
Tweet Share on Facebook June 5, 2008 Comment (11)Pharmacy retailer Walgreens has agreed to fork over $35 million to settle allegations that it squeezed the government out of additional reimbursements by improperly switching the type of drugs given to Medicaid patients, the Justice Department said in a press release this week.
Walgreens did not admit guilt in the settlement, a company spokeswoman said.
From the press release:
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Investment Adviser Is Convicted of Fraud
Tweet Share on Facebook June 2, 2008 Comment (5)Here's another candidate to scratch off your short list of potential money managers: Amit Mathur.
The 38-year-old Massachusetts man was convicted in mid-May on 20 counts of fraud in connection with an investment scheme that squeezed roughly $13 million out of 15 investors.
