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NY Duo Charged For $27M Investment Fraud Scheme NY Duo Charged For $27M Investment Fraud Scheme
NY Duo Charged For $27M Investment Fraud Scheme Two New Yorkers are facing federal charges for allegedly duping foreign nationals into investing in a fictitious private school and selling access to politicians. Long Island residents Sherry Xue Li, age 50, and Lianbo Wang, age 45, both of Oyster Bay, were arrested Monday, July 18, on multiple charges tied to a decade-long scheme that netted $27 million, according to a criminal complaint filed in US District Court in Brooklyn. Federal prosecutors said Li and Wang convinced more than 150 victims to fork over money for the development, construction, and operation of the made-up school in Su…

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by Michael Mashburn
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Federal Jury Convicts NY Man In $600M Medical Billing Fraud Scheme Federal Jury Convicts NY Man In $600M Medical Billing Fraud Scheme
Federal Jury Convicts NY Man In $600M Medical Billing Fraud Scheme A federal jury has convicted a New York man for perpetrating a massive medical billing fraud scheme that netted hundreds of millions of dollars. Long Island resident Matthew James, age 54, of Saint James, appeared in US District Court in Central Islip on Wednesday, July 13, where he was found guilty on nine counts that included wire fraud and identity theft. The verdict followed a six-week trial in which federal prosecutors laid out how James ran phony medical billing companies to defraud insurance companies of more than $600 million. Working with his co-conspirator doctor clients around …

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by Michael Mashburn