Posts Tagged ‘Fraud Friday’
Fraud Friday — French National Indicted For $6 Million Fraud Scheme
August 9, 2019 By Caity Witucki Contributing Editor, Fraud Friday Fraud Friday — French National Indicted For $6 Million Fraud Scheme Giles Casse, a French national, is facing indictment for a $6 million bank fraud scheme in which he made false statements to obtain government-issued loans and enter into a factoring agreement. In 2000, Casse…
Read MoreFraud Friday — StartUp Airline Fails to Get off the Ground — Owner Guilty in Fraud & Tax Evasion
August 2, 2019 By Bob Coleman Editor, Fraud Friday Fraud Friday — StartUp Airline Fails to Get off the Ground — Owner Guilty in Fraud & Tax Evasion In 2014, Michael Morisi, 59, received a $5 million loan from TowneBank guaranteed by the Newport News/Williamsburg-based Peninsula Airport Commission for his startup airline, People Express Airlines.…
Read MoreFraud Friday – CEO Assistant Rips off $3 Million in Stolen Checks
June 28, 2019 By Dominic J Bartolone Contributing Editor, Fraud Friday Fraud Friday – CEO Assistant Rips off $3 Million in Stolen Checks A former executive assistant of a Boston-area technology company was arrested and charged in connection with a fraud and embezzlement scheme that allowed her to skim over $3 million from the business…
Read MoreFraud Friday — Small Business Loan Brokers Indicted for $2 Million Fraud
June 21, 2019 By Dominic J Bartolone Contributing Editor, Fraud Friday Fraud Friday — Small Business Loan Brokers Indicted for $2 Million Fraud A New York man along with seven others, have been indicted and charged with running a fraud ring that bilked 35 small-business owners out of more than $2 million in advance fees…
Read MoreFraud Friday — SBA Loan Broker Jailed for 9 Years in $100 Million 7(a) Loan Fraud
June 14, 2019 By Bob Coleman Editor, Fraud Friday Fraud Friday — SBA Loan Broker Jailed for 9 Years in $100 Million 7(a) Loan Fraud “Our financial system is based on trust,” says U.S. Attorney Robert K. Hur. “Loren Park and his co-conspirators lied during every aspect of the loan process, cheating taxpayers and lenders,…
Read MoreFraud Friday — Noah Bank CEO Arrested for SBA Loan Fraud
May 31, 2019 By Bob Coleman Editor, Fraud Friday Fraud Friday — Noah Bank CEO Arrested for SBA Loan Fraud U.S. Attorney Geoffrey S. Berman says this past Wednesday, “Edward Shin, the CEO of a Pennsylvania bank, allegedly exploited his position as a bank officer to illegally issue Small Business Administration loans to entities in…
Read MoreFraud Friday – Credit Union VP Pleads Guilty to Fraud
May 17, 2019 By Dominic J Bartolone Contributing Editor, Fraud Friday Fraud Friday – Credit Union VP Pleads Guilty to Fraud A former credit union vice president from Vancleave, Mississippi, pled guilty to theft from a credit union in U.S. District Court in Gulfport. Merideth Christina McMillan, 46, was accused of stealing more than $350,000…
Read MoreFraud Friday – Billings Man Indicted for Defrauding Canadian Bank
May 10, 2019 By Dominic J Bartolone Contributing Editor, Fraud Friday Fraud Friday – Billings Man Indicted for Defrauding Canadian Bank A Montana businessman was indicted for bank fraud for allegedly inducing a Canadian Bank to loan him more than $40 million based on phony loan documents. Todd Capser, 47, of Billings, was arrested May…
Read MoreFraud Friday – Ex Credit Union CEO Pleads Guilty to Fraud
May 3, 2019 By Dominic J Bartolone Contributing Editor, Fraud Friday Fraud Friday – Ex Credit Union CEO Pleads Guilty to Fraud The former CEO of a Minnesota credit union who was accused of stealing more than $10 million, pleaded guilty to stealing at least $2.5 million after a five-year investigation by the FBI. Margurite…
Read MoreFraud Friday — Nik Patel’s 25-Year Fraud Sentence Upheld
April 19, 2019 By Bob Coleman Editor, Fraud Friday Fraud Friday — Nik Patel’s 25-Year Fraud Sentence Upheld The 7th U.S. Circuit Court of Appeals has rejected a bid to reduce the 25-year sentence of the founder of a failed Orlando non-bank lender for his role in defrauding a Milwaukee investment firm of $179 million…
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