Financial Fraud Law

Recent Posts

Love, Online Dating and Financial Fraud: A Cautionary Tale for Valentine's Day
Posted on 13 Feb 2014 by Steven A. Meyerowitz

Millions of Americans visit online dating websites every year hoping to find a companion or even a soulmate. But as Valentine’s Day gets closer, we here at the Financial Fraud Law Blog and the Financial Fraud Law Report want to warn you that criminals... Read More

Website Operator Tricked Consumers with Phony Information about Obamacare, FTC Alleges
Posted on 28 Jan 2014 by Steven A. Meyerowitz

The Federal Trade Commission is taking action against a website operator that allegedly tricked consumers – in advance of the roll-out of the Affordable Care Act (ACA) – with spam emails that falsely claimed that consumers would be violating... Read More

Who’s Your Anti-Corruption Hero?
Posted on 18 Mar 2014 by Steven A. Meyerowitz

The global anti-corruption organization Transparency International now is accepting nominations for its 2014 Integrity Awards. Launched in 2000, the awards recognize the courage and determination of individuals and groups taking remarkable steps to combat... Read More

Marketer Settles FTC Charges He Sent Millions of Deceptive, Unwanted Text Messages
Posted on 6 Feb 2014 by Steven A. Meyerowitz

An affiliate marketer has agreed to settle Federal Trade Commission charges that he was responsible for sending millions of unwanted text messages to consumers that deceptively promised “free” gift cards and electronics. In its complaint... Read More

100th Signatory to International Financial Misconduct Agreement
Posted on 31 Jan 2014 by Steven A. Meyerowitz

The Indonesian Financial Services Authority has become the 100th signatory to the the International Organization of Securities Commissions Multilateral Memorandum of Understanding on cooperation and exchange of information. The memorandum is the instrument... Read More

28 New Defendants, Including Retired NY Police and Firefighters, Charged in Ongoing Social Security Fraud Investigation
Posted on 26 Feb 2014 by Steven A. Meyerowitz

In a second wave of indictments, Manhattan District Attorney Cyrus R. Vance, Jr., has charged 32 defendants for their participation in an alleged massive fraud against the federal Social Security Disability Insurance Benefits (“SSDI”) program... Read More

Counterfeit Super Bowl Tickets? Prosecutors Bring Charges
Posted on 29 Jan 2014 by Steven A. Meyerowitz

Two men have been charged with running a counterfeit production and distribution operation in Queens, New York, and elsewhere in which blocks of high quality tickets to sought-after post-season football games – including the 2014 AFC championship... Read More

‘SpyEye’ Creator Pleads Guilty to Conspiracy to Commit Wire and Bank Fraud
Posted on 29 Jan 2014 by Steven A. Meyerowitz

Aleksandr Andreevich Panin, a Russian national also known as “Gribodemon” and “Harderman,” has pleaded guilty to conspiracy to commit wire and bank fraud for his role as the primary developer and distributor of the malicious software... Read More

Allegedly Told ‘Don’t Get Caught,’ Swiss Banker Got Caught, and Now He’s Guilty of Conspiring to Defraud the IRS
Posted on 13 Mar 2014 by Steven A. Meyerowitz

In what appears to be another significant step toward prosecuting U.S. citizens with unreported overseas bank accounts, and foreign banks – and bankers – that facilitate them, a Swiss banker has pleaded guilty to conspiring to defraud the... Read More

Consumers Lost Over $1.6 Billion to Financial Fraud Last Year, Report Finds
Posted on 4 Mar 2014 by Steven A. Meyerowitz

American consumers lost over $1.6 billion to financial fraud in 2013, according to the FTC’s annual report on consumer complaints. The report also found that the top consumer complaint was identity theft. “Americans of all ages are vulnerable... Read More

Superstorm Sandy Fraud Schemes Alleged
Posted on 27 Jan 2014 by Steven A. Meyerowitz

Four individuals have been arrested and charged with submitting false and fraudulent applications to obtain Superstorm Sandy Disaster Relief funds. Federal prosecutors said that Darnell Ellis, Diana Shkolnik, Robert Gesuele, and Edward Valentin independently... Read More

600 Stolen Identities, and Over $1 Million in Losses, Lead Identity Theft Ringleader to Prison
Posted on 11 Mar 2014 by Steven A. Meyerowitz

The leader of an identity theft ring that stole more than 600 identities from U.S. government employees and others has been sentenced to serve 12 years in prison, followed by three years of supervised release. Jenaro Blalock previously pleaded guilty... Read More

Wall Street Firms Agree to Stop Cooperating with Analyst Surveys
Posted on 26 Feb 2014 by Steven A. Meyerowitz

A number of prominent Wall Street firms have reached interim agreements with New York Attorney General Eric T. Schneiderman to stop their practice of cooperating with analyst surveys administered by what Schneiderman characterized as “certain elite... Read More

6 Year Fraud by CFO Who Embezzled $5.7 Million, Prosecutors Contend
Posted on 6 Jan 2014 by Steven A. Meyerowitz

Gregg Pierleoni was the chief financial officer of a moving and storage company based in Westchester, New York, from 1987 to April 2013. Now, he is charged with embezzling over $5.7 million from the company over a six year period. According to prosecutors... Read More

Can a Bank Break a Law that Since Has Changed? Fifth Circuit to Decide
Posted on 6 Jan 2014 by Steven A. Meyerowitz

Can a bank be held liable for violating a law that since has changed? Argument is scheduled this morning before the U.S. Court of Appeals for the Fifth Circuit on that very question. The law involved is the Electronic Fund Transfer Act (EFTA), which... Read More