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Financial Crime

Police & Fire
Senior Loses $250K In Mega Millions Lottery Scam: PA State Police Senior Loses $250K In Mega Millions Lottery Scam: PA State Police
Senior Loses $250K In Mega Millions Lottery Scam: PA State Police An 84-year-old Schnecksville man was swindled out of $250,000 by scammers posing as Mega Millions representatives, Pennsylvania State Police announced on  Over the course of a year, from December 2023 to December 2024, the victim believed they were interacting with legitimate lottery officials, investigators said. The fraudsters convinced the senior to transfer large sums of money under false pretenses. No suspects have been identified in the ongoing investigation, PSP Bethlehem Patrol Unit said. Authorities urge anyone with information to contact them.

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by Jillian Pikora
Business
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
News
Stealing Deed From Dead Man Lands Bucks County Men Jail Time: USDOJ Stealing Deed From Dead Man Lands Bucks County Men Jail Time: USDOJ
Stealing Deed From Dead Man Lands Bucks County Men Jail Time: Usdoj Two Bucks County men were convicted on Friday, Sept. 20 of trying to steal a deed from a dead man and other financial crimes, authorities said. Alan Kane, 59, of Jamison, and Derrell Johnson, 42, of Bensalem, were found guilty after a trial for multiple fraud schemes, said U.S. Attorney Jacqueline C. Romero in a press statement on Monday, Sept. 23. A federal jury convicted Kane, an attorney, on two counts of bankruptcy fraud, one count of filing a false claim in a bankruptcy proceeding, and one count of making a false statement to the FBI, Romero explained. Johnson was convicted on tw…

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by Jon Craig
Police & Fire
$2K+ Fraud At Ephrata Performing Arts Center By Employee From Elizabethtown: Police $2K+ Fraud At Ephrata Performing Arts Center By Employee From Elizabethtown: Police
$2K+ Fraud At Ephrata Performing Arts Center By Employee From Elizabethtown: Police A 38-year-old Elizabethtown woman is accused of stealing thousands from the Ephrata Performing Arts Center, the Ephrata police announced on Thursday, May 30.  Megan L. Riggs was arrested on the felony charge of Access Device Fraud and a misdemeanor for Theft by Deception on Wednesday, May 29, 2024, the police detailed.   The charges come as the result of an investigation beginning in August of 2023. Riggs had been employed by Ephrata Performing Arts Center through August 2022, the police explained. During her tenure with the EPAC she allegedly made "unauthorized purchases us…

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by Jillian Pikora
News
Feds: Philly Man Charged With Stealing Nearly $1 Million In PPP Funds Feds: Philly Man Charged With Stealing Nearly $1 Million In PPP Funds
Feds: Philly Man Charged With Stealing Nearly $1 Million In PPP Funds A Philadelphia man was charged with two counts of bank fraud and nine counts of money laundering for stealing nearly $1 million in Paycheck Protection Program (PPP) funds and using it toward personal purchases, federal authorities said. It is alleged that in June 2020, Devron Brown, 50, received $937,500 in PPP loan proceeds, from a PPP loan application that contained false about his alleged construction business, Just Us Construction Inc., according to Acting United States Attorney Jennifer Arbittier Williams. Brown allegedly falsified the number of employees, the wages paid to t…

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by Nicole Acosta