money laundering News

Virginia Business Owner Must Pay Back $4M for Fraud Scheme

A Virginia business owner who spent business loans on personal expenses, including his rock band, will pay more than $4 million in restitution, in addition to serving a 10-year federal prison sentence. The Virginian-Pilot cites a U.S. Department of Justice …

Ex-Chiropractor in New Jersey Gets Prison Term for Medical Fraud Ring Role

A New Jersey chiropractor whose license was revoked more than 15 years ago is now headed to prison for his role in a medical fraud ring that stole nearly $4 million from insurance companies. Philip Potacco received a seven-year sentence …

Delaware Woman Faces Sentencing in $6M Fraud Case

Federal prosecutors say a Delaware woman charged with transferring more than $6 million from the operating account of the financial services company where she worked into her own bank accounts over several years deserves to spend at least five years …

Australia’s CBA Threatened with Large Class Action over Money Laundering Charges

A law firm threatened on Wednesday to file a class action suit against Commonwealth Bank of Australia for allegedly failing to disclose that it was facing money-laundering charges, in the latest headache for Australia’s biggest listed company. Without revealing its …

California Division of Workers’ Compensation Suspends Two, Including Drobot

California’s Department of Industrial Relations and the Division of Workers’ Compensation has suspended two more medical providers from participating in California’s workers’ compensation system. The suspensions were made possible by the passage last year of Assembly Bill 1244, which requires …

Massachusetts and Rhode Island Doctor Pleads Guilty for Overprescribing Opioids

At Dr. Fathalla Mashali’s pain management clinics, the waiting rooms were often so packed with patients that people sat on the floor, leaned against walls and spilled into the hallways. That’s because, federal prosecutors say, Mashali was prescribing oxycodone and …

New Jersey Hotel Manager Stole More Than $1M From His Boss

A hotel manager stands accused of stealing more than $1 million from his boss, including draining a $600,000 insurance annuity belonging to the victim. State authorities say Vikas Mehta was recently indicted on charges of identity theft, money laundering, theft …

Pennsylvania Doctor Admits to Selling $5M Worth of Prescriptions to Addicts

A doctor has admitted his role in peddling prescriptions from a now-defunct clinic in Philadelphia, Penn., that specialized in helping drug addicts. Seventy-eighty-year-old Dr. Alan Summers pleaded guilty in federal court to charges including conspiracy, drug distribution, money laundering and …

Pennsylvania Man Pleads Guilty to Stealing $1.8M from QVC Shopping Network

A man who spent several years as the lighting manager for online and TV shopping network QVC has pleaded guilty to stealing about $1.8 million from the company. Douglas Rae pleaded guilty to stealing from the West Chester-based QVC Inc. …

Former New Jersey Agent Sentenced for Bilking $1M From MassMutual

A former insurance agent in Essex County, New Jersey, is going to prison for bilking Massachusetts Mutual Life Insurance Company of more than $1 million in commissions and bonuses. A judge sentenced 33-year-old Stanley Jerome of Orange, New Jersey, to …