A former broker for JPMorgan Chase in New York treated accounts maintained by his clients as his own personal piggy bank — using about $20 million in client money to make unprofitable options trades and even paying down the mortgage on his New Jersey home, according to a federal criminal complaint unsealed on Thursday.
Category Archives: Fraud
New Jersey’s 12 U.S. Reps call for hearings on FEMA fraud
New Jersey’s 12 members of the House of Representatives urged the Committee on Oversight and Government to hold hearings on the Federal Emergency Management Agency’s possible role in insurance fraud to deny claims to Hurricane Sandy victims.
In a letter sent on April 7 to the committee’s chairman and ranking member, the representatives cited a CBS 60 Minutes report that said FEMA knew of fraudulent practices by engineering and service companies as early as August 2013, yet failed to act.
Leader of a $23 Million Medicare Fraud Conspiracy Sentenced to 10 Years in Prison
HICAGO—A Chicago man was sentenced today to a 120 month term of imprisonment for taking control of two Chicago-area home health companies and using them to bilk Medicare out of more than $20 million. JACINTO “JOHN” GABRIEL, JR., 48, has been in custody since February 2014, when he entered a guilty plea to charges of conspiracy to commit health care fraud and tax evasion.
In sentencing Gabriel, U.S. District Judge Charles Norgle ordered him to pay $23.3 million in restitution to the Medicare program and $1.5 million to the Internal Revenue Service.
Doctor Tied to Menendez Indicted on Medicare Fraud Charges
The Florida doctor charged in a political corruption case along with New Jersey Sen. Robert Menendez was indicted Tuesday in a 76-count Medicare fraud scheme that prosecutors said attempted to bilk the health care program out of as much as $190 million.
Miami U.S. Attorney Wifredo Ferrer said Dr. Salomon Melgen, 60, was charged with 46 counts of health care fraud as well as additional charges of filing false claims and making false statements. Melgen is an ophthalmologist with offices in Palm Beach and St. Lucie counties.
Italy finds 1.5 billion euros in fraud in public sector contracts out of 4.6 billion checked
ROME – Italy’s financial police have released sobering statistics about the state of fraud and corruption in Italy’s public sector: Of the 4.6 billion euros ($5 billion) worth of public contracts checked last year, they found 1.5 billion euros in fraud and 2.6 billion euros wasted.
The financial police released their annual report for 2014 on Wednesday, saying they had made police reports against 3,700 people for crimes against public administration.
23 arrested in massive Medicare-Medicaid fraud scheme
A 199-count indictment against 23 doctors, nurses, and medical supply companies was unsealed in Brooklyn, NY yesterday, revealing a massive scheme to defraud Medicare and Medicaid of millions of dollars.
Hundreds of poor people were recruited with the promise of new sneakers to visit a couple of clinics in the Bronx, where bogus tests and procedures were performed. The criminals would then bill government insurance programs for millions.
Read more: http://www.americanthinker.com/blog/2015/04/23_arrested_in_massive_medicaremedicaid_fraud_scheme.html#ixzz3W564wCZE
Woman convicted of adoption fraud arrested again on similar charges
The Pitt County Sheriff’s Office says a Farmville woman was arrested after duping three victims in an elaborate fraud scheme.
Deputies say in September 2014, detectives began investigating a fraud tip out of Wilmington.
Through their investigation, they say the offender was identified as Heather Dawn Taylor, 39 of Farmville.
Detectives say Taylor received two checks from the first victim in Wilmington for the purchase of Papperiza Jewelry. Taylor then gave those account numbers to a second victim who Taylor said was her mother’s account.
Brazil police report massive tax fraud scheme, more than $2B in losses
SAO PAULO – The federal police agency said Friday it has begun legal proceedings against companies allegedly involved in a fraud scheme that has cost Brazil’s public coffers more than $2 billion in unpaid fines and taxes.
The most common forms of tax fraud in 2015
THE ‘dirty dozen’ scams
Every year, the IRS releases its “Dirty Dozen” list of the most pernicious income-tax scams making the rounds. Here is its list for 2015.
1) Phone scams: Thieves call pretending to be IRS agents, sometimes threatening police arrest, deportation, license revocation or other things in an attempt to get you to divulge your personal information.
Spain’s ruling party ran secret fund for 18 years, investigating judge finds
A judge has found that Spain’s ruling party ran a secret slush fund for 18 years, reviving a corruption scandal that has embarrassed the government ahead of a general election.
Investigating judge Pablo Ruz of the national court cleared the way for the trial of the lead suspect in the case: the People’s party’s (PP) ex-treasurer Luis Barcenas, a former ally of conservative prime minister Mariano Rajoy.