SAN JOSE, Calif. (AP) – A San Jose man has been convicted of charges stemming from allegations he sold products stolen from Cisco Systems, Inc. in a fraud scheme that raked in $37 million.
Federal prosecutors say 45-year-old Cuong Cao Dang pleaded guilty on Friday to conspiracy to commit mail fraud, substantive wire fraud, money laundering and engaging in financial transactions using criminally derived proceeds. He is scheduled to be sentenced in March and faces as much as 70 years in prison.
A former Morris County investment adviser pleaded guilty Monday in Somerset County to fabricating and mailing more than 100 financial account statements that inflated 14 of her clients’ accounts by a combined $818,000.
Janet Fooshee, 63, who now lives in Maine, also pleaded guilty to stealing approximately $151,000 from four clients, receiving more than $191,539 in unlawful investment adviser fees, defrauding another client out of almost $81,000, and stealing the identities of at least eight corporations. Those thefts added to the total of $1,178,000 bilked from her clients.
Nearly a year ago, crusading federal prosecutor Preet Bharara mocked Albany’s culture of corruption, heaping extra scorn on the deals hatched in secrecy by three men in a room. Now two of them are on their way to prison and the third, Gov. Cuomo, reportedly remains a potential target of a separate probe.
The convictions of Sheldon Silver and Dean Skelos mark a historic development in Bharara’s years-long campaign to drain the swamp. Silver, a Democrat, was the boss of the Assembly, while Skelos, a Republican, ruled the Senate.
WikiLeaks has published 30 hours of secret tapes and transcripts at the heart of the AbilityOne/SourceAmerica scandal.
Thirteen Presidential Appointees (ten Obama, three Bush) are embroiled in a multi-billion dollar corruption scandal being probed by the US Department of Justice and four Inspector Generals.
The appointees oversaw the federal government’s $3 billion a year “AbilityOne” program which was meant to pay for the employment of more than 50,000 disabled people — the largest such program in the United States.
Fred “Dave” Clark, founder of the defunct Cay Clubs Resorts and Marinas that the feds say was a $300 million Ponzi scheme, was convicted by a federal jury Friday of three counts each of bank fraud and making a false statement to a financial institution and one of obstructing the U.S. Securities and Exchange Commission by lying to the regulatory agency.
Clark, 57, was accused of using the Tavernier-based Cay Clubs as his own bank account, extracting $22 million from it from 2005 to 2007 and using the money on waterfront homes, cars and planes. He founded Cay Clubs and was its chief executive officer.
The Miami owner of eight pharmacies will spend nine years in prison, the Department of Justice announced this week, for his part in a healthcare fraud that saw him spending the money he scammed on luxury cars for himself and his family.
Daniel Suarez, who pleaded guilty to fraud charges, will also serve 3 years on supervised release, and must pay close to $21 million in restitution for the scam that bilked the Medicare part D program for more than $20 million.
Earlier today, the U.S. Attorney’s Office for the Eastern District of New York (“the Office”) filed fraud charges in Brooklyn federal court against Tishman Construction Corporation (“Tishman Construction”), one of the largest construction companies in New York City. Tishman Construction is charged with mail and wire fraud conspiracy for improperly billing its clients more than $5 million over a ten-year period for hours not worked and at rates that were in excess of the agreed upon contract rate. Also, Tishman Construction entered into a deferred prosecution agreement with the Office in which Tishman Construction admitted to fraudulently overbilling clients and agreed to pay more than $20 million in restitution to victims and penalties to the federal government. The company has additionally instituted far-reaching corporate reforms designed to eliminate future problems and enforce best industry practices.
A businessman who prosecutors say stole more than $100 million in insurance premiums to live a life of luxury has been sentenced to 37 years in prison.
Forty-year-old Jeffrey Brian Cohen of Reisterstown, about 25 miles northwest of Baltimore, was also ordered to pay restitution at sentencing Thursday in Baltimore federal court, prosecutors said in a news release.
PISCATAWAY – A 53-year-old township man is wanted for his alleged role in a fraud ring that spent years creating hundreds of fake identities and shell companies in order to steal about $3 million from various banks.
Mohammed Khan was one of 12 people, mostly from Hudson County, charged this week with first-degree money laundering, second-degree theft by unlawful taking, and third-degree fraudulent use of credit cards in an alleged scheme that spanned 2012 to this year, the state Attorney General’s Office said Wednesday.
A federal jury in Las Vegas convicted two men of conspiracy, wire fraud and securities fraud yesterday for their roles in an approximately $10 million international investment fraud scheme involving numerous victims.
Assistant Attorney General Leslie R. Caldwell of the Justice Department’s Criminal Division, U.S. Attorney Daniel G. Bogden of the District of Nevada and Special Agent in Charge Laura A. Bucheit of the FBI’s Las Vegas Field Office made the announcement.
Anthony Brandel, 48, of Las Vegas, and James Warras, 69, of Waterford, Wisconsin, were each convicted of one count of conspiracy, nine counts of wire fraud and eight counts of securities fraud following a five-day trial before Senior U.S. District Judge Kent J. Dawson of the District of Nevada. The defendants are scheduled to be sentenced on March 2, 2016, by Judge Dawson.