Securities fraud
Top federal prosecutor, DOJ official quit after refusing order to toss Eric Adams case
Danielle Sassoon, assistant US Attorney for the Southern District of New York, exits court in New York, US, on Thursday, Oct. 5, 2023. Stephanie Keith | Bloomberg | Getty Images A top federal prosecutor in New York and a senior Department of Justice official resigned Thursday after refusing a DOJ order to dismiss the pending […]
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Crypto scams likely hit a new record in 2024, driven by ‘pig butchering’ and AI, says Chainalysis
Chainalysis said that crypto wallets linked to scams received $9.9 billion in cryptocurrency in 2024, according to its initial estimates Boonchai Wedmakawand | Moment | Getty Images Crypto fraud revenue is estimated to have hit record levels last year amid a surge in so-called romance scams as cybercriminals leverage artificial intelligence and become more organized, […]
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Zelle payments top $1 trillion in 2024 as network’s growth outpaces rivals including PayPal
Key Points Zelle crossed $1 trillion in total volumes last year, which it said was the most ever for a peer-to-peer platform. The payments network said its user base jumped 12% to 151 million accounts in 2024, and that the total dollars sent on the platform jumped 27% from the year earlier. Zelle was launched […]
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Former Trump aide Steve Bannon pleads guilty in New York ‘build the wall’ case
Steve Bannon, former advisor to U.S. President Donald Trump, arrives for a hearing at Manhattan Criminal Court on February 11, 2025 in New York City. Michael M. Santiago | Getty Images Steve Bannon, a former top White House aide to President Donald Trump, pleaded guilty Tuesday in New York in connection with the defrauding of […]
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Short seller Andrew Left seeks to dismiss U.S. fraud case, filing shows
Andrew Left of Citron Capital on CNBC’s Halftime Report. Adam Jeffery | CNBC Prominent short seller Andrew Left is pressing a judge to dismiss U.S. charges that he manipulated the market and defrauded investors with his negative reports about companies, according to a document filed in federal court on Monday. U.S. authorities charged Left, the […]
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Supreme Court allows anti-money laundering law to take effect
A woman carries a “SCOTUS v THE PEOPLE” sign in front of the U.S. Supreme Court in Washington on Monday, October 7, 2024. Bill Clark | Cq-roll Call, Inc. | Getty Images The Supreme Court cleared the way on Thursday for the enforcement of an anti-money laundering federal law that requires corporate entities to disclose […]
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CFPB fines Equifax $15 million for errors on credit reports
Key Points The Consumer Financial Protection Bureau fined Equifax $15 million for credit reporting errors. The CFPB alleged the credit bureau failed to properly investigate consumer disputes. Credit reports have a significant impact on consumer finances, experts said. They may dictate someone’s success in qualifying for a loan, renting an apartment or getting a job. […]
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American Express to pay $230 million to settle DOJ fraud probe, deceptive marketing claim
Silas Stein | Picture Alliance | Getty Images American Express will pay approximately $230 million to resolve a federal criminal wire fraud investigation and settle allegations of deceptive marketing, the company said Thursday. The total includes more than $138 million as part of a non-prosecution agreement with federal prosecutors in Brooklyn, New York, related to […]
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Last Madoff victim fund payout brings recovery to nearly 94% of Ponzi scheme losses, DOJ says
Financier Bernard Madoff leaves Manhattan Federal court March 10, 2009 in New York City. Madoff attended a hearing regarding the conflicting status of his legal representation in his multi-billion dollar fraud allegations. Chris Hondros | Getty Images The 10th and final distribution from a fund for victims of the late Ponzi scheme king Bernie Madoff […]
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Luigi Mangione pleads not guilty to murder of health insurance CEO
Luigi Mangione, the man accused of fatally gunning down health insurance executive Brian Thompson on a Manhattan street, pleaded not guilty on Monday to New York state murder charges that brand him a terrorist. Mangione, 26, was escorted into Judge Gregory Carro’s 13th-floor courtroom in the New York state criminal courthouse in lower Manhattan with […]
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