Thursday, October 28, 2021

Fraud

Two Israeli security tech firms investigated on suspicion of fraud

The police National Serious and International Crimes unit has opened an investigation into the Israeli companies "Ability Computer Tech Industries" and "Ability Security Systems," which are suspected of "fraud, smuggling and money laundering on a significant scale," supposedly done in the context...

Philippines arrests 270 Chinese citizens in fraud raid

Philippine police have arrested more than 270 Chinese nationals in a raid on a gang wanted over a vast investment fraud that cost victims in China millions of dollars, authorities said Friday (Sep 13). Agents swooped on an office building...

Interpol issues Red Corner Notice to Nirav Modi’s brother Nehal in PNB scam

The Interpol has issued Red Notice against Nehal Modi, the brother of fugitive diamond trader Nirav Modi, in connection with the alleged Rs 13,600 crore fraudulent bank transactions at the Punjab National Bank (PNB). Nehal, 40, a Belgium citizen, is...

Prosecutors raid Commerzbank over ‘cum-ex’ tax fraud

German prosecutors on Tuesday raided the Frankfurt offices of Germany's second-biggest lender Commerzbank, media reported, looking for evidence of mass tax fraud known as "cum-ex". "Investigative measures are being taken today related to the complex around cum-ex trading," Cologne prosecutors'...

South African regulator fines Steinhoff for misleading markets

South Africa’s market regulator is fining retailer Steinhoff R53 million ($3.6 million) for making “false, misleading or deceptive statements” to the market, the company said on Thursday. Steinhoff revealed an accounting fraud in December 2017 that shocked investors and wiped...

Google pays France €1bn to settle tax fraud investigation

Google has agreed to pay nearly €1bn in fines and taxes to France as settlement in a fraud inquiry that began four years ago. The tech giant said it will pay a €500m (£446.6m) fine, plus €465m (£415m) in taxes,...

Former Adidas consultant Gassnola avoids prison in college bribery scandal

Former Adidas consultant Thomas "T.J." Gassnola, who cooperated with the federal government in its investigation into bribes and other corruption in college basketball, avoided prison time and was sentenced to probation in New York on Tuesday. Gassnola, a former youth...

Stony Brook University Professor Arrested For Theft of Cancer Research Funds

An associate professor at Stony Brook University has been arrested for allegedly stealing state and federal funding meant for cancer research for his own use, federal authorities say. Geoffrey Girnun, 48, of Woodmere, an associate professor in the Department of...

EFCC, FBI Recover N92m From Nigerian Fraudsters

The acting chairman of the Economic and Financial Crimes Commission, EFCC, Ibrahim Magu, said the collaborative operations between the Commission and the Federal Bureau of Investigation, FBI, tagged "Operation Rewired" led to the recovery of the sums of $169,850...

CEO Pleads Guilty to $424 Million Conspiracy in Medicare Fraud Scheme

The owner and Chief Executive Officer of a telemarketing company is guilty of money laundering and conspiring to defraud Medicare to gain health care kickbacks. Lester Stockett, owner of Video Doctor USA and Telemed Health Group LLC, and CEO of AffordADoc, pleaded...

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Baltimore County Police officer accused of accepting bribes in exchange for handgun licenses

Indicted Tuesday by a federal grand jury, a Baltimore County Police officer faces six counts of honest services wire...