All articles tagged with #financial scam
Former Dolphins safety Reshad Jones was defrauded of approximately $2.58 million over two years by a woman and his former financial advisor, with the woman jailed and the advisor accused of stealing funds for personal expenses; Jones is now pursuing legal action against Merrill Lynch.
Mary Winkler, the wife of a minister, was found driving her missing minivan with her three daughters after her husband was found shot dead in their home. She was initially suspected of being a kidnapping victim but later became a suspect in her husband's murder. Winkler claimed abuse and financial pressure as motives for the killing. She was convicted of voluntary manslaughter and served a short prison sentence. After a custody battle, she now lives quietly with her daughters.
Financial columnist Charlotte Cowles defends herself after falling victim to a $50,000 scam, emphasizing that there is no stereotypical scam victim and warning that scammers are adept at targeting vulnerabilities. She recounts being manipulated and threatened by the perpetrators, urging people to identify trusted contacts and strategies to escape such situations. The elaborate scheme involved false claims of identity theft, fake law enforcement involvement, and pressure to withdraw cash for an undercover agent, ultimately resulting in her loss.
An 85-year-old woman in Slovakia narrowly avoided falling victim to a vishing scam after accidentally activating Airplane mode on her phone, preventing the scammer from contacting her. The scam involved a fake relative posing as her grandson and convincing her to withdraw $21,500 from her bank account. Fortunately, a security service employee helped her realize the scam, and she was able to return the money to her account. Vishing scams targeting the elderly can result in significant financial losses, highlighting the vulnerability of older individuals to such schemes.
Matthew Motil, a North Olmsted house-flipper who called himself "The Cash Flow King," has been accused by the U.S. Securities and Exchange Commission (SEC) of running an $11 million Ponzi scheme that defrauded dozens of investors. Motil allegedly promised high returns on house-flipping ventures but used investor funds for personal expenses and other business ventures. He faces a lawsuit seeking to recoup money for investors and impose penalties, including a ban on serving as an officer or director of a public company.