All articles tagged with #white collar crime
Originally Published 21 days ago — by The Guardian
The article argues that under Donald Trump's presidency, there was a significant rise in white-collar crime, with high-profile pardons and policy decisions that undermined financial regulation and enforcement, benefiting criminals and undermining US economic and political stability.
Originally Published 2 months ago — by Bloomberg.com
President Donald Trump has granted a pardon to former baseball star Darryl Strawberry, who pleaded guilty to tax evasion over three decades ago, citing his faith, sobriety, and active involvement in ministry as reasons for clemency.
Originally Published 4 months ago — by The New York Times
A Times investigation reveals that JPMorgan had a long and complex relationship with Jeffrey Epstein, enabling his sex-trafficking operation and profiting from him, despite knowing his criminal activities, with the bank now expressing regret for this association.
Originally Published 4 months ago — by The New York Times
A New York Times investigation reveals that JPMorgan Chase supported Jeffrey Epstein for years, ignoring red flags and suspicious activity, which facilitated his criminal activities and posed significant reputational risks for the bank.
Originally Published 1 year ago — by The New York Times
Former President Donald J. Trump has been convicted of 34 counts of falsifying business records, potentially facing probation or up to four years in prison. If sentenced to prison, the Secret Service would be required to protect him around the clock, marking an unprecedented situation for a former U.S. president. Sentencing is set for July 11.
Originally Published 1 year ago — by BBC.com
Sam Bankman-Fried, known as the 'Crypto King', has been sentenced to 25 years in prison for orchestrating one of the largest financial frauds in history, with the judge emphasizing the potential for future damage and the need to deter white collar criminals. The sentence has sparked reactions from the crypto world, with some feeling it was fair while others hoped for a tougher punishment. Bankman-Fried's lack of remorse and deliberate lies were cited during the sentencing, and the judge recommended that he not be held in a maximum security prison due to his vulnerability and autism.
Originally Published 1 year ago — by Fortune
Former FirstEnergy CEO Chuck Jones and former Senior Vice President Michael Dowling have been indicted on multiple felony charges related to a $60 million bribery scandal in Ohio. They failed to surrender as promised and are now on the run. The indictments also include additional charges against former chair of the Public Utilities Commission of Ohio, Sam Randazzo. This marks the latest development in what has been labeled the largest corruption case in Ohio history, involving a web of bribery, theft, and money laundering.
Originally Published 2 years ago — by American Banker
Lawyers for former Wells Fargo executive Carrie Tolstedt argue that she should be sentenced to three years of probation instead of prison time for obstructing a bank examination. They claim that a noncustodial sentence would be appropriate given her "lifelong history of good character" and would allow her to continue supporting her aging mother, in-laws, friends, mentees, church family, and charitable causes. Tolstedt has already faced significant financial and reputational consequences, including fines and penalties of over $21 million, clawbacks totaling $67 million, and constant public humiliation. The recommendation for probation aligns with the U.S. Probation Office's advice, while prosecutors have called for a 12-month prison sentence. Tolstedt is the only former Wells Fargo executive to face criminal charges in connection with the bank's phony-accounts scandal.
Originally Published 2 years ago — by POLITICO
Eliyahu Weinstein, a man whose prison sentence was commuted by former President Donald Trump, has been charged in a new fraud scheme that allegedly cost investors millions of dollars. Weinstein, along with four others, is accused of falsely promising deals involving medical supplies for Ukraine. This comes after Weinstein had served time for a Ponzi scheme and real estate fraud that resulted in over $230 million in investor losses. The charges include wire fraud conspiracy and conspiracy to obstruct justice. The U.S. Securities and Exchange Commission has also filed a civil complaint against Weinstein and the other individuals involved.
Originally Published 2 years ago — by Daily Mail
Elizabeth Holmes, the founder of Theranos, will begin her 11-year prison sentence at the minimum-security Federal Prison Camp Bryan in Texas. The prison is no stranger to high-profile inmates and offers dormitory-style living arrangements, business classes, and hobby items for purchase. Holmes will be surrounded by around 600 mostly non-violent female offenders who have committed white-collar crimes. Among her possible 'dorm' mates is fellow fraudster and one-time Real Housewives of Salt Lake City star Jen Shah.
Originally Published 2 years ago — by CNBC
A former Apple employee, Dhirendra Prasad, has been sentenced to three years in federal prison and ordered to pay nearly $33 million for defrauding the company out of more than $17 million with a scheme that double-billed for parts. Prasad, along with two co-conspirators, conspired to double-bill Apple for parts it already owned or had purchased. Prasad also engineered "sham invoices" that allowed one of his co-conspirators to take unjustified tax deductions valued at more than $1.8 million.
Originally Published 2 years ago — by CNBC
A former Apple employee, Dhirendra Prasad, has been sentenced to three years in federal prison and ordered to pay nearly $33 million for defrauding the company out of more than $17 million with a scheme that double-billed for parts. Prasad, along with two co-conspirators, conspired to double-bill Apple for parts it already owned or had purchased. Prasad also engineered "sham invoices" that allowed one of his co-conspirators to take unjustified tax deductions valued at more than $1.8 million.
Originally Published 2 years ago — by Crain's Chicago Business
Outcome Health co-founders and former COO were convicted of defrauding customers and investors, facing up to 30 years in prison. The Chicago-based startup was valued at over $5 billion and raised nearly half a billion dollars from investors, including Goldman Sachs and Google, before allegations of overbilling pharma companies and falsifying reports of prescription increases led to its downfall. The convictions serve as a warning to startup entrepreneurs to approach the line between "fake it till you make it" and fraud cautiously and remind investors to do their homework.
Originally Published 2 years ago — by New York Post
Charges filed against Donald Trump in Manhattan are rarely pursued as the "top count" or only charge, and seldom result in a felony conviction, according to a report. The most common result in cases that include felony falsification of business records is a guilty plea to disorderly conduct. Trump faces 34 felony counts, each of which carries a maximum of four years in prison. The Manhattan DA filed 168 counts of felony falsification of business records against 34 defendants or companies, including against the Trump Corporation and the Trump Payroll Corp. Trump was indicted on the 34 counts for allegedly illegally reimbursing Michael Cohen for hush-money payments he made ahead of the 2016 election.
Originally Published 2 years ago — by 13WHAM-TV
A woman has been accused of embezzling over $2 million from a Rochester-based company where she worked as a bookkeeper. The woman allegedly used the money to pay for personal expenses, including a wedding and a Disney vacation. She has been charged with wire fraud and money laundering.