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Bank Robbers Post Strong Quarter
Tweet Share on Facebook April 30, 2008 Comment (34)As the banking industry wobbled in the face of a debilitating credit crisis, bank robbers reported strong results for the third quarter (July 1 through September 30) of 2007.
The FBI reported 1,578 violations of the Federal Bank Robbery and Incidental Crimes Statute during the period, with thieves walking away with $19,769,819.51 of loot. So far, only $2,209,768.06 has been recovered.
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Fraudster Sells Deceased Owners' Properties
Tweet Share on Facebook April 29, 2008 CommentFor one determined fraudster, homeowners' deaths became a reason to celebrate.
Thirty-five-year-old Duane McKinney of Washington, D.C., could face up to 108 months in prison after he was found guilty last week of involvement in a scheme to fraudulently obtain property titles and sell them as if they were his own.
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Movie Stars Can't Save Wesley Snipes From Prison
Tweet Share on Facebook April 25, 2008 Comment (62)Although prosecutors urged a federal judge to give actor Wesley Snipes the maximum three-year prison sentence for tax violations—a request that was ultimately granted—the court had additional materials to consider when deciding on a sentence.
Among those were a stack of character references submitted on Snipes's behalf that describe the actor as a man of strong character and integrity (.pdf).
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A Letter You Never Want to Receive
Tweet Share on Facebook April 24, 2008 Comment (8)Turns out there are things you can get in the mail from your lender that are even less desirable than bills. Just ask LendingTree's mortgage customers from October 2006 through early 2008, who received the following surprise this week:
April 21, 2008
Dear LendingTree Customer:
We want you to know that some loan request forms our customers sent to LendingTree may have been seen by lenders without our consent. These lenders then used the forms to market their own mortgage loans to our customers. While we don't believe that the forms were used for any other purpose, we want you to know what happened and what we did to correct this situation, as well as what you can do to monitor your credit records.
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And You Thought Your Tax Season Was Rough...
Tweet Share on Facebook April 23, 2008 CommentWith the wounds of tax season still fresh, it's OK to feel a little warm and fuzzy about this one. Just two days after the April 15 tax filing deadline, former Internal Revenue Service agent Harry Willner was sentenced to a year in jail for his role in a fraudulent tax scheme. [Thanks, White Collar Crime Prof Blog]
According to the Justice Department, in addition to his job at the IRS, Willner also served as an officer for NIA Advertising. In 2002, the company reported hundreds of thousands of dollars in net operating losses. From the Department of Justice:
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Internet Fraudsters Steal Hearts and Cash
Tweet Share on Facebook April 22, 2008 Comment (5)There was a time when you only had to worry about a potential lover breaking your heart. Now it seems that you've got to keep your eyes on your bank account, too.
As Americans have turned in greater numbers to the Internet in search of love, scammers have found a fresh batch of potential victims and created a new field of fraudulent activity: "romance fraud: a scam designed to prey on [people's] emotions to get [their] money," CNN reports.
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Feds Finger Bank Teller in Robberies
Tweet Share on Facebook April 21, 2008 Comment (1)Despite growing concern about more sophisticated crimes, financial institutions still have to protect themselves from old-fashioned bank robberies.
Just ask the Department of Justice, which last week charged 20-year-old Christina Dasrath—a teller at a bank branch in New York City—in connection with a pair of apparent robberies.
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Former Newark Mayor Is Convicted
Tweet Share on Facebook April 17, 2008 CommentNot to be upstaged by former New York Gov. Eliot Spitzer, former Newark Mayor Sharpe James was found guilty on fraud charges Wednesday in connection with a property scheme involving a female companion. Sharpe's companion, Tamika Riley, was convicted as well.
From a Department of Justice press release:
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What's Different About Israel's Tough Sentence?
Tweet Share on Facebook April 16, 2008 Comment (1)Ellen Podgor—over at the White Collar Crime Prof Blog—makes a great point about the 20-year sentence that Bayou Group cofounder Samuel Israel received Monday:
This time it is 20 years for a white collar offender. But unlike Bernie Ebbers who received 25 years, Jeffrey Skilling who was given 24 years, and the Rigas sentences of 20 and 15 years—the accused—Samuel Israel III—plead guilty.
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Prosecutors Want Three Years for Snipes
Tweet Share on Facebook April 15, 2008 Comment (6)With puzzling disregard for his portrayal of beloved base stealer "Willie Mays Hayes" in the 1989 comedy Major League, federal prosecutors have recommended that 45-year-old actor Wesley Snipes serve three years in prison—the maximum penalty—and pay at least $5 million in fines after being convicted of tax charges in February.
"For nearly a decade, Snipes has engaged in a campaign of criminal tax conduct combining brazen defiance with insidious concealment," the government said in a court filing. "By these means, Snipes has escaped paying more than $15 million in income tax to the Internal Revenue Service (IRS), and has pursued an intended fraudulent harm to the United States Treasury of more than $41 million."