Tag:

Bank Fraud

$9.6M Scheme: NY Businessman Admits To Bank Fraud Conspiracy $9.6M Scheme: NY Businessman Admits To Bank Fraud Conspiracy
$9.6M Scheme: NY Businessman Admits To Bank Fraud Conspiracy The owner of a New York business admitted to running a multimillion-dollar check-kiting scheme to keep his company operating. Long Island resident John B. Mensch, age 54, pleaded guilty in connection with a nearly year-long fraud conspiracy involving banks in Suffolk County and the Hudson Valley, federal authorities announced Wednesday afternoon, Oct. 2. Mensch, of Quogue, faces up to five years’ imprisonment as well as financial penalties, including restitution to the two banks of approximately $9.6 million. According to court filings, Mensch was the owner and operator of East End, a…
Ex-Cuomo, Hochul Aide Raked In Millions Acting As Undisclosed Agent Of Chinese Government: Feds Ex-Cuomo, Hochul Aide Raked In Millions Acting As Undisclosed Agent Of Chinese Government: Feds
Ex-Cuomo, Hochul Aide Raked In Millions Acting As Undisclosed Agent Of Chinese Government: Feds This story has been updated. A former aide to New York Gov. Kathy Hochul and former Gov. Andrew Cuomo is accused of acting as an agent for the Chinese government. Long Island residents Linda Sun, age 41, and her husband Chris Hu, age 40, were arrested at their Manhasset home on Tuesday morning, Sept. 3, on charges of violating the Foreign Agents Registration Act, money laundering, and related charges. According to federal prosecutors, Sun – who served as Hochul’s deputy chief of staff before being fired in 2023 – engaged in numerous political activities at the behest of Chinese government …
$3 Million Scheme: NY Financial Advisor Sentenced For Fraud $3 Million Scheme: NY Financial Advisor Sentenced For Fraud
$3 Million Scheme: NY Financial Advisor Sentenced For Fraud A New York financial advisor will be spending time behind bars after he admitted to defrauding a local bank out of millions. Long Island resident Gary Confredo, a 61-year-old from East Northport, received his sentence of 42 months on Tuesday, May 14, the United States Attorney's Office Eastern District of New York announced. Confredo, also known as Gary Conte, is the former operator of Goldstar Financial Management Corporation, a financial services business based in Commack. Original Story: East Northport Financial Advisor Admits To $3M Bank Loan Scheme However, between November…
COVID-19: Restaurateur From Capital Region Admits To $163K Pandemic Relief Fraud COVID-19: Restaurateur From Capital Region Admits To $163K Pandemic Relief Fraud
Covid-19: Restaurateur From Capital Region Admits To $163K Pandemic Relief Fraud A former restaurant owner in the region raked in six figures by defrauding a relief program meant to help businesses impacted by COVID-19. Scott Solomon, age 37, of Albany, pleaded guilty to two counts of bank fraud in Albany federal court on Monday, Dec. 11. According to prosecutors, he admitted to applying for and obtaining Paycheck Protection Program (PPP) loans in 2020 for two Saratoga Springs restaurants that he formerly operated. PPP loans were issued by financial institutions in 2020 and 2021 and guaranteed by the US Small Business Administration. Funds were meant to help businesses…
New Yorkers At Risk Of Scam Calls, Attorney General Warns New Yorkers At Risk Of Scam Calls, Attorney General Warns
New Yorkers At Risk Of Scam Calls, Attorney General Warns As New Yorkers across the state report being contacted by scammers impersonating their banks, officials are cautioning consumers to keep their eyes peeled. In a statement on Friday, Oct. 27, NY Attorney General Letitia James provided tips to avoid getting scammed by callers pretending to be bank or government officials. “Scammers claiming to be a trusted bank, or any institution relied on for financial services, can seriously harm New Yorkers by taking their money and their personal information,” she said. James said the Office of the Attorney General has been receiving calls from New Y…
COVID-19 $558K Scam: Former Nightclub Owners In Capital Region Admit Defrauding Relief Programs COVID-19 $558K Scam: Former Nightclub Owners In Capital Region Admit Defrauding Relief Programs
Covid-19 $558K Scam: Former Nightclub Owners In Capital Region Admit Defrauding Relief Programs A husband and wife duo from the region accused of raking in hundreds of thousands of dollars by defrauding COVID-19 relief programs through their former nightclub business has pleaded guilty. Saratoga County residents Deborah Budhraj, age 52, and Adesh Budhraj, age 53, both of Ballston Lake, pleaded guilty to bank fraud and wire fraud charges in federal court in Albany on Wednesday, July 19. The couple formerly owned the Tropics Restaurant & Bar, located in Schenectady on South Brandywine Avenue. According to prosecutors, they agreed to sell the business to another couple in February 2…
Multimillion-Dollar Scheme: Woman From Region Nabbed For Money Laundering, Bank Fraud, Feds Say Multimillion-Dollar Scheme: Woman From Region Nabbed For Money Laundering, Bank Fraud, Feds Say
Multimillion-Dollar Scheme: Woman From Region Nabbed For Money Laundering, Bank Fraud, Feds Say A 49-year-old woman from the region has been charged with conspiring to commit money laundering and bank fraud, stealing more than $10 million from victims. Sullivan County resident Tetiana Berriors, of the hamlet of Smallwood, was arrested on Thursday, June 8, said Damian Williams, the US Attorney for the Southern District of New York. According to court documents, Berriors conspired to commit money laundering and bank fraud in connection with laundering the proceeds of a series of business email compromise scams that sought to deceive victims into sending nearly $10 million to bank accoun…
Check Fraud: Nearly $5,000 Stolen From Victim's Bank Account By Capital Region Man, Police Say Check Fraud: Nearly $5,000 Stolen From Victim's Bank Account By Capital Region Man, Police Say
Check Fraud: Nearly $5,000 Stolen From Victim's Bank Account By Capital Region Man, Police Say A 24-year-old man is facing charges after allegedly stealing nearly $5,000 from a victim’s bank account using fraudulent checks. Zyaire Sheppard, of Schenectady, was arrested Friday, April 28, following an investigation by New York State Police, the agency said. The victim first contacted troopers in December 2022 reporting that multiple fraudulent checks had been written from their bank account. Investigators determined that Sheppard conspired to deposit two fraudulent checks worth over $4,800 into a bank account belonging to someone else, police said. Sheppard was arrested on the follow…
$65M Ponzi Scheme: Former NY Hedge Fund Manager Admits To Lending Fraud $65M Ponzi Scheme: Former NY Hedge Fund Manager Admits To Lending Fraud
$65M Ponzi Scheme: Former NY Hedge Fund Manager Admits To Lending Fraud A former bond trader and hedge fund manager in New York could spend decades in federal prison for defrauding his friends and lending institutions out of over $65 million. Nassau County resident Jeffrey Parket, age 59, of Great Neck, pleaded guilty to wire fraud and bank fraud in federal court in Manhattan on Wednesday, Feb. 15. According to the US Attorney’s Office in the Southern District, Parket swindled his victims out of millions of dollars between 2016 and December 2021 by lying about his financial condition and pledging fake collateral in order to obtain short-term loans. He claime…
Former NY Legislator, Ex-Girlfriend Both Convicted Of Defrauding Business Of $250K Former NY Legislator, Ex-Girlfriend Both Convicted Of Defrauding Business Of $250K
Former NY Legislator, Ex-Girlfriend Both Convicted Of Defrauding Business Of $250K A former county legislator in New York and an accomplice from Connecticut have been convicted by a jury of scamming a business out of more than a quarter of a million dollars. George Guldi, who served as a Long Island legislator representing the South Fork of Suffolk County, and Litchfield County resident Victoria Davidson, of Lakeville, Connecticut, defrauded Ditech Financial LLC, a mortgage lender, Damian Williams, the United States Attorney for the Southern District of New York, announced. “George Guldi, while in prison, concocted and conducted a scheme along with his co-consp…
Ex-Director Of NY Charity Sentenced For Embezzling Over $1M Ex-Director Of NY Charity Sentenced For Embezzling Over $1M
Ex-Director Of NY Charity Sentenced For Embezzling Over $1M The former executive director of a New York charity is heading to federal prison after being convicted of embezzling more than $1 million to fund a life of luxury. Long Island resident Wafa Abboud, age 55, of Merrick, was sentenced to nearly three years behind bars in federal court in Brooklyn on Wednesday, Jan. 11.  It followed her convictions on charges of embezzling funds, bank fraud, and money laundering after a two-week jury trial in July 2019. Earlier Report: Ex-Director Convicted Of Stealing Nearly $1M From Long Island Charity Prosecutors said Abboud ran Human First, a no…
Police In Hudson Valley Help Catch Suspects Of Nationwide 'Felony Lane Gang' Fraud Scheme Police In Hudson Valley Help Catch Suspects Of Nationwide 'Felony Lane Gang' Fraud Scheme
Police In Hudson Valley Help Catch Suspects Of Nationwide 'Felony Lane Gang' Fraud Scheme Two suspects who admitted to being part of a nationwide fraud scheme were caught with the help of police in the Hudson Valley.  The two men, Joshua Mallory, age 37, and Gary Grier, age 36, both of Fort Lauderdale, Florida, pleaded guilty on Tuesday, Dec. 20 to being part of the multi-state "Felony Lane Gang," a fraud scheme involving suspects breaking into cars and stealing debit cards and checkbooks, according to the US Attorney's Office for the Northern District of New York.  Between 2015 and 2020, Mallory, Grier, and several co-conspirators traveled across the country breaking …
Woman Accused Of Embezzling $4M From NY Company Serving Clients In Entertainment Industry Woman Accused Of Embezzling $4M From NY Company Serving Clients In Entertainment Industry
Woman Accused Of Embezzling $4M From NY Company Serving Clients In Entertainment Industry A woman has been accused of embezzling $4 million from her New York employer and its clients to pay for, among other things, her wedding, travel, and making payments to a cosmetic surgeon. Long Island resident Carmen Miranda, age 50, of Massapequa, was charged with wire fraud, bank fraud, and aggravated identity theft, in connection with her scheme to embezzle over $4 million from her employer and its clients in Manhattan. Miranda, who is also known as “Millie Miranda,” was an account manager at a small business management firm that primarily serviced clients in the entertainment indus…