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After Targeting the Terminally Ill and the Elderly, Estate Planning CEO and Employee Head to Prison

He saw “death as a holiday.” He targeted the terminally ill and the elderly. He stole millions of dollars. Federal prosecutors say that Joseph A. Caramadre, the president, chief executive officer, and majority owner of Estate Planning Resources in Cranston, R.I., did all this – and...

Former Social Security Administrator Sentenced to Federal Prison for Aggravated Identity Theft, Unauthorized Sale of Stock Certificates, and Tax Evasion

Randolph Hurst, a former assistant district manager for the Social Security Administration in Rhode Island, has been sentenced to 39 months in federal prison for stealing the identity of a Coventry, Rhode Island, man and using his identity to fraudulently sell more than $160,000 worth of stock certificates...

Financial Fraud Law Quiz: New Jersey Mayors Who Have Been Convicted or Pleaded Guilty in Corruption Cases

With the bribery, fraud, and extortion conviction last week of Tony Mack, the mayor of Trenton, New Jersey, the Financial Fraud Law Blog and the Financial Fraud Law Report thought we would ask our readers if they could identify the communities in New Jersey that have had mayors convicted or have had...

Accountant from Jal Sentenced to Prison, on Fraud and Identity Theft Convictions

Roger L. Baeza, an accountant from Jal, New Mexico, has been sentenced to 61 months in federal prison, followed by three years of supervised release, for his conviction on securities fraud, access device fraud, and aggravated identity theft charges. Baeza also was ordered to pay $501,927.10 in restitution...

‘Free Money’ Among This Year’s ‘Dirty Dozen’ Top Tax Scams

The Internal Revenue Service has issued its annual “Dirty Dozen” list of tax scams, many of which peak during tax filing season as people prepare their tax returns. "Taxpayers should be on the lookout for tax scams using the IRS name,” said IRS Commissioner John Koskinen. “These...

Family that Commits Identity Theft Together Goes to Prison Together

Mary Young and her husband, Christian Young, and her son, Octavious Reeves, have been sentenced to prison for their involvement in a stolen identity refund fraud scheme. Mary Young was sentenced to serve 87 months in prison, Christian Young was sentenced to serve 70 months in prison, and Octavious...

550,000 Identities Stolen in Tax Refund Fraud Schemes

Stolen identity tax refund fraud schemes are a large problem. Now we know just how large. The IRS has identified more than 550,000 taxpayers who had their identities stolen from 2008 through May 2012 for the purpose of claiming false refunds in their names. Federal prosecutors say that they are...

Consumers Lost Over $1.6 Billion to Financial Fraud Last Year, Report Finds

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 to identity theft, and it remains the most...

600 Stolen Identities, and Over $1 Million in Losses, Lead Identity Theft Ringleader to Prison

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 to access device fraud and aggravated identity...

Fighting Financial Fraud with Big Data? That’s IBM’s Goal

Can the fight against financial fraud be waged with computers and software? That’s what IBM seems to believe. IBM said that it has introduced new software and services to help organizations use ”Big Data and Analytics” to address the $3.5 trillion lost each year to fraud and financial...