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Cash App Users To Get Refunds In $175M Order As Feds Target Fraud Cash App Users To Get Refunds In $175M Order As Feds Target Fraud
Cash App Users To Get Refunds In $175M Order As Feds Target Fraud Cash App's parent company will have to pay $175 million for poorly protecting its users from fraud and financial crimes on the payment platform, officials said. The Consumer Financial Protection Bureau ordered Block to refund up to $120 million to users harmed by fraud, the federal agency said in a news release on Thursday, Jan. 16. The parent company of Cash App, which has more than 56 million accounts, must also pay a $55 million fine into the CFPB’s victims relief fund. The CFPB found that Block failed to properly investigate unauthorized transactions and deprived users of…

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by Chris Spiker
News
$4.3B Now Recovered For Madoff Ponzi Scheme Victims, DOJ Says $4.3B Now Recovered For Madoff Ponzi Scheme Victims, DOJ Says
$4.3B Now Recovered For Madoff Ponzi Scheme Victims, DOJ Says More than $4.3 billion has now been recovered for victims of Bernie Madoff’s massive and infamous Ponzi scheme, the Justice Department announced, as part of a decade-long effort that has compensated over 40,000 people worldwide for nearly 94 percent of their losses. The DOJ says  its 10th and final distribution from the Madoff Victim Fund (MVF), provided more than $131 million to over 23,000 victims. The latest distribution marks the culmination of a decade-long effort to recover and return forfeited funds tied to Madoff's fraudulent investment empire. Most victims, primarily small inv…

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by Joe Lombardi
Police & Fire
Teen Demanded Gold Bars From Elderly Maryland Woman To Keep Russia Away From Her Assets: Police Teen Demanded Gold Bars From Elderly Maryland Woman To Keep Russia Away From Her Assets: Police
Zhenyong Weng Stole $900K In Gold Bars From Elderly Woman A 19-year-old New Yorker implicated in a government-imposter-related scam received nearly a million dollars in gold bars from an elderly Maryland woman who sought to keep Russia away from her money, authorities announced on Tuesday. Brooklyn resident Zhenyong Weng has been arrested for allegedly targeting an 82-year-old Silver Spring woman who reached out to her and allegedly instructed her to transfer her assets into gold bars to keep Russian hands off. The woman complied, police say, and handed off several packages worth an estimated $900,000 in gold bars. Shortly before 5:30 p.m. o…

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by Zak Failla
News
Former School DOT Employees In MD Sentenced For $320K Theft Scheme: State's Attorney Former School DOT Employees In MD Sentenced For $320K Theft Scheme: State's Attorney
Former School DOT Employees In MD Sentenced For $320K Theft Scheme: State's Attorney The former Assistant Director of the Montgomery County Public Schools Department of Transportation (DOT) will spend years behind bars for his role in a scheme to steal hundreds of thousands of dollars. Charles Ewald, 37, of Knoxville, was sentenced to 15 years in prison, with all but five suspended, after admitting to the scam earlier this year, authorities announced. The scam began in 2009 when Todd Watkins, 56, of Jefferson - who also pleaded guilty to the scheme - began conspiring with Ewald  Prosecutors say that Watkins assumed his position in 2009, and beginning in 2016 and throu…

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by Zak Failla
News
Former Police Lieutenant In MD Gets Prison Time For Tax Evasion Scheme: Feds Former Police Lieutenant In MD Gets Prison Time For Tax Evasion Scheme: Feds
Former Police Lieutenant In MD Gets Prison Time For Tax Evasion Scheme: Feds A former top cop in Maryland will spend more than a year with some of the people he helped locked up after attempting to dupe federal investigators amid an ongoing tax evasion scheme. Edward Scott Finn, 48, of Dunkirk, a former lieutenant with the Prince George’s County Police Department, was sentenced on Monday, May 15, to 16 months in federal prison, followed by two years of supervised release for a tax evasion charge, according to officials. At the time he working with the department - between December 1995 and April 2021 - Finn also owned and operated Edward Finn Inc., a private compan…

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by Zak Failla