Fraud Articles

“Real Housewives” star facing 50 Years in Prison

Federal fraud. Tax evasion. Jail. It’s the real-life reality for one of television’s most infamous “hotty” housewives. Some law enforcement officials say years of real-life prison time could possibly await her. “Teresa and Giuseppe ‘Joe’ Giudice have been indicted on …

7-Eleven Raids: Nine Arrested For Illegal Workers 7-Eleven Raids: Nine Arrested For Illegal Workers
· 2

The U.S. Attorney’s Office today unsealed two indictments charging nine 7-Eleven store owners and operators with wire fraud, steling identities, and concealing and harboring illegal immigrants. The defendants are accused hiring “dozens” of illegal immigrants and giving them identities stolen …

Lenny Dykstra to Leave Prison on Sunday

Former Major League Baseball star Lenny Dykstra is set to be released from prison on Sunday, just 15 months into his three-year prison sentence. The Philadelphia Inquirer, which first reported the news, quotes a Dykstra biographer as saying he is …

If You Get an Unsolicited Email from the FBI, It’s Not the FBI If You Get an Unsolicited Email from the FBI, It’s Not the FBI

The FBI does not send unsolicited email. That’s the simple message behind a press release just issued by the government agency. They were forced to put out this release because many residents in the state of Mississippi have received a …

HP Logs $8.8 Billion Impairment Charge For Possibly Fraudulent Accounting by Autonomy HP Logs $8.8 Billion Impairment Charge For Possibly Fraudulent Accounting by Autonomy

Just over one year ago, HP bought Autonomy, an enterprise search and knowledge management service company for $10.2 billion. Today, HP announced it would be taking an $8.8 billion impairment charge due to what it calls “serious accounting improprieties, misrepresentations, …

Missing Georgia Banker May Have Taken $17 Million With Him Missing Georgia Banker May Have Taken $17 Million With Him
· 1

Missing Georgia banker Aubrey “Lee” Price disappeared over two weeks ago after telling a few close associates that he’d lost “a large sum of money through his trading activities”. Following this revelation, Price announced that he planned to commit suicide …

Olympus to Slash Workforce and Sell Equity Stake Olympus to Slash Workforce and Sell Equity Stake

After the discovery of a huge financial scandal back in October, Olympus Corporation is planning on laying off almost 7% of their total workforce in the months to come. Aside from slashing over 2500 jobs, the troubled corporation is also …

Man Tricks Girlfriend on Facebook, Imprisoned Man Tricks Girlfriend on Facebook, Imprisoned
· 6

In Great Britain, a man has been jailed for seven years for tricking his girlfriend into performing sex acts online through the use of false identities on Facebook. Darrell Bingham, 49, posed as an American football player and subjected his …

Madoff ‘Disappointed’ Mets Fraud Suit Was Settled

The Notorious Ponzi sceme perpetrator, Bernie Madoff was in contact with Irving Picard last week to express his disappointment in the Mets fraud case not going to trial. The fraud case against the Mets was settled early monday for a …

Insurance Agent Sentenced to do 6 Years After Stealing $1 Million from Clients

After stealing over one million dollars from her elderly clients, the former Issaquah insurance agent could spend up to six years and three months in the can. Jasmine Jamrus-Kassim was arrested last March in Kent by State Patrol troopers and …

SAT Fraud and Entrepreneurs

New York State’s Kenneth LaValle, chairman of the New York Senate Higher Education Committee is proposing legislation that would make any kind of fraud on the SAT’s a felony. The action comes after impostors allegedly posed as students and took …

New iPad Scam Leaves Customers Without an Apple New iPad Scam Leaves Customers Without an Apple
· 3

Some Canadian citizens are getting a surprise after purchasing their new iPads. Reports from a few consumers around the Vancouver area say that they have been scammed! Excited about their purchases, they tear into the neatly sealed packaging only to …

FBI: Massive Fraudulent Online Ad Scheme Affected More Than 4 Million Computers FBI: Massive Fraudulent Online Ad Scheme Affected More Than 4 Million Computers

According to the U.S. Attorney’s office in Manhattan, at least 4 million computers in over 100 different countries fell victim to a giant fraud scheme that involved a sophisticated virus that manipulated search results and used online ads to generate …

Alibaba CEO and COO Step Down
· 2

According to reports, Alibaba CEO David Wei and COO Elvis Lee have both resigned, following findings of fraudulent activity among thousands of sellers.

Neither executive was found to be actually involved in the fraud, but the company found a significant increase in claims against particular sellers over the last year.

FTC Shutters Web Services Company

At the request of the Federal Trade Commission a U.S. district court has shut down the illegal operations of a company that placed false charges on the telephone bills of thousands of small businesses and people for Internet related services they never agreed to buy.

Microsoft Launches Internet Fraud Alert System
· 3

Microsoft, eBay and PayPal have launched an Internet Fraud Alert system aimed at helping security researchers report information they find online about stolen data.

Microsoft says its Internet Fraud Alert service will allow security researchers to more securely share information with service providers, retailers, financial institutions and government entities about incidents where compromised account credentials have been discovered.


Facebook Dealing With a Click Fraud and Data Access Lawsuit

It’s a saga we’re all familiar with by now: create a pretty awesome web service, start a trend, become a media sweetheart, make lots of money (VC or acquisition), get slapped with a lawsuit. Or two. Or fifty billion. Facebook added two more lawsuits to its heap recently: a countersuit from Power.com and a click fraud proceeding.

Facebook Deals With Some Click Fraud Problems

Facebook is charging hard toward hitting that $550 million in revenue number that was put in front of potential investors recently. Of course, their pay per click model of advertising is going to be a critical component of getting there.

Click Fraud Frequency Drops, But Grows Up

When your business relies on an increasing trend in click fraud, what do you do when the bottom drops out of the numbers?

Click Fraud Is At An All Time High

Click Forensics has released a study showing that click fraud has hit 17.1%, an all-time high. For those of you who are unfamiliar, click fraud represents the act of clicking on a web advertisement to inflate click-through rates.

eBay and PayPal Explain Item Holds
· 24

Monroe Labouisse, the director of PayPal’s business on eBay in the US and Canada sat down with eBay’s chief Blogger Richard Brewer-Hay and sketched out this post explaining the policies behind eBay Item Holds.

An eBay Item Hold is when eBay asks PayPal to hold a payment in a seller’s PayPal account for up to 21 days. This occurs as a "buyer protection" when eBay believes the transaction is more likely than the average transaction to be fraudulent.