Tag: All Regions

A federal grand jury in the Southern District of Texas returned an indictment that was unsealed yesterday charging eight men with conspiracy to commit securities fraud for a long-running, social media-based “pump and dump” scheme. According to court documents, Edward Constantinescu, aka Constantin, 38, of Montgomery, Texas; Perry “PJ” Matlock, 38, of The Woodlands, Texas; John Rybarczyk, 32, of Spring,…

Thrower alleged that from January 2008 through April 2017, Academy had an underwriting process that led employees to disregard FHA rules and falsely certify compliance with underwriting requirements. Thrower further alleged that, as a result of Academy’s knowingly deficient mortgage underwriting practices, the government paid insurance claims on loans improperly underwritten by Academy.

“Lenders that knowingly cause the government to guarantee loans that are materially deficient put both homeowners and the public fisc at risk,” said Principal Deputy Assistant Attorney General Brian M. Boynton, head of the Justice Department’s Civil Division. “The settlement announced today is a result of the relator’s efforts to develop this case in litigation and complements the department’s actions to prevent abuse of government programs designed to foster home ownership.” 

A federal grand jury in Manhattan returned an indictment today charging Samuel Bankman-Fried, aka SBF, 30, of Stanford, California, with conspiracy to commit wire fraud, wire fraud, conspiracy to commit commodities fraud, conspiracy to commit securities fraud, conspiracy to commit money laundering, and conspiracy to defraud the Federal Election Commission and commit campaign finance violations. The charges in the indictment…

Danske Bank A/S (Danske Bank), a global financial institution headquartered in Denmark, pleaded guilty today and agreed to forfeit $2 billion to resolve the United States’ investigation into Danske Bank’s fraud on U.S. banks. According to court documents, Danske Bank defrauded U.S. banks regarding Danske Bank Estonia’s customers and anti-money laundering controls to facilitate access to the U.S. financial system…

Publicly filed court documents, including a 16-count indictment unsealed today in Brooklyn, charge five Russian nationals – including a suspected Federal Security Service (FSB) officer – and two U.S. nationals with conspiracy and other charges related to a global procurement and money laundering scheme on behalf of the Russian government in which the defendants allegedly conspired to obtain military-grade and…

The investigation and enforcement of potential sanctions violations by crypto exchanges is an area of focus in the US at present.  The US Department of the Treasury’s Office of Foreign Assets Control’s (OFAC) recent settlement with Kraken, a global virtual currency exchange, is the most recent OFAC case demonstrating the risks for virtual currency platforms that process transactions without comprehensive…

States must apply effective arms-control measures to prevent the diversion of weapons supplied to Ukraine, a senior United Nations official told the Security Council today, as some Council members defended their decision to continue providing military support to Kyiv while others detailed the danger of doing so. Izumi Nakamitsu, High Representative for Disarmament Affairs, said that the transfer of materiel…

A seven-count indictment was unsealed today in federal court in Brooklyn charging Andrii Derkach, 55, of Ukraine, with conspiracy to violate the International Emergency Economic Powers Acts (IEEPA), bank fraud conspiracy, money laundering conspiracy, and four counts of money laundering in connection with the purchase and maintenance of two condominiums in Beverly Hills, California. Derkach allegedly concealed his interest in…

Prosecutors on Wednesday moved to confiscate $5.4 million from a U.S. bank account belonging to Russian businessman Konstantin Malofeyev, who Washington has accused of financing separatists in eastern Ukraine and Crimea and imposed sanctions on him. (Reuters) Konstantin Malofeyev is the founder of Tsargrad TV, and has been reported in western media to be a regular “consultant” to the Kremlin….

French financial prosecutors say a Paris court has approved an agreement with Airbus that will see the plane maker pay a 15.8-million-euro ($16.3 million) fine A Paris court on Wednesday approved an agreement under which Airbus will pay a 15.8-million-euro ($16.3 million) fine to end a corruption probe focusing on sales to Libya and Kazakhstan over a decade ago, French…

The FTC has temporarily shut down a credit card debt relief scheme operated by Sean Austin, John Steven Huffman, and John Preston Thompson and their affiliated companies that allegedly took millions from people by falsely promising to eliminate or substantially reduce their credit card debt: ACRO SERVICES LLC, a limited liability company, also d/b/a Capital Compliance Solutions, AMERICAN CONSUMER RIGHTS…

Elmer Stewart Rhodes III, the founder and leader of the Oath Keepers, and Kelly Meggs, the leader of the Florida chapter of the organization, were found guilty by a jury today of seditious conspiracy and other charges for crimes related to the breach of the U.S. Capitol on Jan. 6, 2021. Their actions disrupted a joint session of the U.S….

Today, the United States filed a proposal in federal court that — if approved by the court — would appoint an Interim Third Party Manager to stabilize the city of Jackson, Mississippi’s public drinking water system, and build confidence in the system’s ability to supply safe drinking water to the system’s customers. The city and the Mississippi State Department of…

The Federal Trade Commission is sending payments totaling more than $830,300 to 1,376 people who began their enrollment at Saint James School of Medicine between Fall 2016 and Summer 2021. The for-profit medical school in the Caribbean and its Illinois-based operators allegedly misled prospective students about their chances of success—both in passing a medical school standardized test and in matching…

The Federal Trade Commission and State of California are taking action against home improvement financing provider Ygrene Energy Fund Inc. for deceiving consumers about the potential financial impact of its financing, and for unfairly recording liens on consumers’ homes without their consent. The FTC and California allege that Ygrene and its contractors falsely told consumers that the financing wouldn’t interfere with…