According to Investopedia, affinity fraud is a type of investment fraud in which a con artist targets members of an identifiable group based on things such as race, age, religion, etc. The fraudster either is or pretends to be, a member of the group. These schemes work because the victims are more likely to trust […]
Wells Fargo Pays Millions To Settle Elder Fraud Allegations
Wells Fargo Advisors has repeatedly been caught pushing unsuitable investments on their clients. One would think that after all the scandals that have engulfed the beleaguered bank, senior management would start taking their customers more seriously. Our first post on Wells Fargo selling unsuitable investments was in 2011. It’s now 2021 and we are still […]
Seattle MD Faces Medicare Fraud Charges
A Seattle physician has been charged with Medicare fraud. Published reports claim Bruce Chen was falsely billing for visiting patients. While that may sound more like an oversight or paperwork error, the government says some of the patients allegedly seen by Chen were dead while at other times he wasn’t even in the United States. […]
CPA Disbarred For Stealing… From His Daughter – Accounting Malpractice
Like all professions, accountants have a few bad apples in their ranks. Everyone makes mistakes now and then and when a CPA makes an error, it’s called Accounting Malpractice. Sometimes the errors involve a missed deadline. Sometimes professionals fail to keep up with changes in the law (after all, there are only 73,608 pages of […]
Texas Man Gets 40 Years In Senior Fraud Case
Robert J. Mangiafico Jr. of Allen, Texas may be a very old man when he gets out of prison. Judge Benjamin Smith in Collin County Texas sentenced him to forty (40) years after he pleaded guilty to defrauding several elderly women out of their life savings. Prosecutors say that Mangiafico’s senior fraud involved a phony […]
"Corruption Part Of County Business" – Whistleblower Post
The front page headline in this morning’s Atlanta Journal Constitution says it all – Grand Jury: Corruption Part of County Business. Some would say we are becoming immune to government corruption but thankfully most people are still outraged. A special grand jury in suburban Atlanta conducted a year long investigation and found corruption at all […]
America Needs Whistleblowers
In recent months we have railed against the lack of criminal prosecutions tied to the economic meltdown. While tens of millions of Americans remain unemployed (or underemployed / working for significantly less pay / upside down on their mortgages), no executives from America’s Too Large To Fail, Too Large To Jail banks are behind bars. […]
Inheritance Fraud – It's Worldwide Problem
Usually the cases of inheritance fraud we deal with occur when a caregiver or greedy relative alters the will of a loved one or simply fails to turn over assets after death. Forged wills are another common occurrence. Unfortunately the problem is worldwide. This story details just how sneaky and dishonest some people can be. […]
Whistleblowers Key to Fighting Government Fraud
The federal government loses billions of dollars to fraud every year. Mortgage companies falsify documents in order to earn commissions on loans. When the borrower can’t pay, the FHA or Fannie Mae steps in – your tax dollars. Ditto for doctors that bill Medicare for unnecessary services or services not even performed. Same for vendors […]
Will Contests and "No Contest" Clauses
Will contests and inheritance fraud are big problems that never receive much media coverage. Everyday, children, grandchildren, siblings and jilted spouses race to courthouses across the country claiming they were wrongfully cut out of the someone’s will. Sometimes family members go to court to prevent an overreaching caregiver or family member from taking advantage of […]
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