Latest Fraud Headlines
All the headlines from our Fraud Topic Page, ordered by recency.
SEC Charges Hurricane Restoration Company and Execs in Alleged Fraud
Dec 3 2009 // A Dallas and New Orleans-based hurricane restoration company that has been subject to numerous lawsuits since Hurricane Katrina, and several of the company’s executives, have been charged by the Securities and...
Supreme Court to Decide Reach of Securities Law Outside U.S.
Nov 30 2009 // The Supreme Court said Monday it would decide when U.S. laws against securities fraud apply to transnational securities dealings, specifically involving a case about a shareholder lawsuit against National Australia Bank...
New York Regulator Proposes Changes to No-Fault Insurance Coverage
Nov 25 2009 // The New York State Insurance Department is proposing new regulations for no-fault auto insurance coverage in Empire State, in a move the state’s top regulator says will help reduce fraud. “We have to be...
‘Economic Downturns’ Make Frauds, Scams More Likely Lloyd’s Warns
Nov 17 2009 // “Economic downturns are often linked to increases in fraud and crime,” notes an article on the Lloyd’s web site (www.lloyds.com). “In desperate times people are said to be more likely to turn to...
New York Insurers Say No-Fault Claims Are Driving Up Costs
Nov 15 2009 // No-fault payments for medical claims by auto accident victims in New York have seen a dramatic increase over the last several years, one industry group says, and the state and insurers must redouble efforts to root out...
Southern California Agents Pleads to Fraud
Nov 12 2009 // California Insurance Commissioner Steve Poizner today announced that Edwin A. Flores, 33, of Long Beach pled guilty to one count of misdemeanor grand theft and was sentenced Nov. 5 to two years probation, 120 hours of...
Utah Official Pleads to Health Insurance Fraud
Nov 11 2009 // The former commissioner of the Utah Department of Public Safety on Monday entered a conditional guilty plea to two third-degree felony charges of falsely obtaining a prescription and to a misdemeanor count of filing a...
New York Insurers Say No-Fault Claims are Driving Up Costs
Nov 6 2009 // No-fault payments for medical claims by auto accident victims in New York have seen a dramatic increase over the last several years, one industry group says, and the state and insurance companies need to redouble efforts...
California Investment Manager Pleads to $8.3 Million Fraud
Nov 5 2009 // A San Francisco investment manager is facing a maximum sentence of 20 years in prison after pleading guilty to fraud. Federal prosecutors say in pleading guilty to mail fraud Tuesday, Alexander Trabulse admitted that he...
New Orleans Jury: Dell Liable for $12.8M in Crime Camera Suit
Nov 4 2009 // A jury in New Orleans has found Dell Inc. liable for $12.8 million in damages over unfair competition and conspiracy claims in a lawsuit involving the city’s problematic crime camera surveillance program. Southern...
Documents Reveal How SEC Botched Madoff Securities Investigations
Nov 2 2009 // U.S. securities investigators raised repeated concern over how Bernard Madoff could be running an honest business, but never followed through on the many red flags they uncovered. Hundreds of documents released last Friday...
Connecticut Insurance Agent Admits Stealing Clients’ Money
Nov 2 2009 // Federal prosecutors say a Waterbury businessman has admitted to ripping off more than $1.3 million from clients that authorities say was used to gamble at Connecticut’s casinos. The U.S. Attorney’s office said...
California Reports 25% Jump in Auto Fraud Cases Linked to Arson
Nov 1 2009 // In the year 2008, there was a 25 percent increase in suspected vehicle arson fraud in California, according to the state. Commissioner Steve Pointer said that recently compiled statistics show that scam artists may be...
California’s Dunhill Insurance Charged with Municipal Bond Fraud
Oct 30 2009 // A California financial products firm, two current executives and a former executive were indicted on Thursday for bid rigging and fraud related to municipal bond contracts, the Justice Department said. Dunhill Insurance...
Georgia Auto Fraud Ringleader Arrested
Oct 30 2009 // Georgia officials say they have arrested the ringleader in a fraud ring operating in Savannah, that collected nearly $95,000 from six insurance companies by staging accidents and filing bogus claims. Insurance Commissioner...
California Pizzeria Owner Pleads to Insurance Fraud
Oct 30 2009 // Two Southern California men who were arrested on Oct. 15 for workers’ compensation insurance fraud in Orange County. The state Insurance Commissioner, Steve Poizner, said that Sanjiv Mahendra Shah, 53, of Placentia...
Montana Insurance Commissioner Announces Fraud Settlement
Oct 30 2009 // LPL Financial Corporation (LPL) will pay nearly $1.3 million in restitution to Montana investors and a fine of $150,000 to the State of Montana under a settlement announced today by Monica Lindeen, Montana Commissioner of...
Texas May Drop Phone Numbers from Vehicle Accident Reports
Oct 29 2009 // In a blow to businesses that contact drivers after car wrecks, Texas’ law enforcement and transportation agencies have agreed to drop telephone numbers from crash reports. The move is supported by the insurance...
Programs to Combat Vehicle Theft to Expand in New Orleans
Oct 29 2009 // Commissioner of Insurance Jim Donelon says Louisiana’s program to reduce vehicle theft and insurance fraud will be expanded in Orleans Parish, which includes New Orleans. Donelon made the announcement about the...
All in the Family: North Carolina Brother, Sister Charged with Fraud
Oct 28 2009 // A brother and sister have been arrested by North Carolina officials on charges of insurance fraud. State Insurance Commissioner Wayne Goodwin reported the arrest of Wanda Nichols Covington, 36, and her brother; Thomas...
