Category: Fraud
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Malaysian police arrest 21 in crypto fraud scheme targeting Japanese investors
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Malaysian authorities have foiled a major cryptocurrency fraud scheme targeting Japanese citizens. According to local sources ReportsThe Royal Malaysian Police, also known as PDRM, arrested 21 individuals in connection with the fraud during coordinated raids on two upscale properties in Kuala Lumpur on August 19. The suspects include 16 Chinese…
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Malaysian police arrest 21 in crypto fraud scheme targeting Japanese investors
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Malaysian authorities have foiled a major cryptocurrency fraud scheme targeting Japanese citizens. According to local sources ReportsThe Royal Malaysian Police, also known as PDRM, arrested 21 individuals in connection with the fraud during coordinated raids on two upscale properties in Kuala Lumpur on August 19. The suspects include 16 Chinese…
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Tech tycoon Mike Lynch missing after yacht sinks off Sicily, weeks after £8bn fraud acquittal
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Mike Lynch, the British technology entrepreneur who was recently acquitted in a massive £8 billion fraud case, has disappeared after his yacht sank off the coast of Sicily. The incident comes just weeks after Lynch’s stunning legal victory, which saw him acquitted of fraud charges in a US court after…
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‘Crypto For Harris’ 2024 US Election Campaign Branded A Fraud
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Supporters “Harris’s Cryptocurrency” The political terrain may be difficult to navigate as some sectors have described US elections Campaign as a scam. Critics of US Vice President Kamala Harris say the group lobbying for her that uses the word “cryptocurrency” as a rallying cry believes it aims to sway pro-cryptocurrency…
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‘Crypto For Harris’ 2024 US Election Campaign Branded A Fraud
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Supporters “Harris’s Cryptocurrency” The political terrain may be difficult to navigate as some sectors have described US elections Campaign as a scam. Critics of US Vice President Kamala Harris say the group lobbying for her that uses the word “cryptocurrency” as a rallying cry believes it aims to sway pro-cryptocurrency…
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£4bn lost to fraud and error on flagship HMRC ‘innovation’ scheme
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A government scheme designed to boost innovation and boost the economy has lost more than £4 billion to fraud and error since 2020, due to widespread breaches. The R&D tax credit scheme, which aims to drive world-leading innovation, has been dogged by dubious claims and has turned into what experts…
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Navigate the Travel Rule as fraud, regulatory scrutiny rises
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Disclosure: The opinions and ideas expressed here belong solely to the author and do not represent the opinions and views of the crypto.news editorial board. Cryptocurrencies have seen a massive rise in adoption over the past few years. By late 2023, the number of cryptocurrency owners worldwide will reach 1.5…
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Kenya banks snoop on staff with AI in war against fraud
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The sector’s regulator has revealed that commercial banks have deployed artificial intelligence technologies to spy on their employees in a new effort to combat fraud and theft spread by insiders. Fast-growing artificial intelligence technologies, which enable machines to mimic human intelligence in thinking and learning, have taken root in almost…
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US Accuses Famed Short-Seller Andrew Left of Securities Fraud
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(Bloomberg) — U.S. authorities have charged famed short seller Andrew Left with committing fraud through stock trades, social media posts and research reports — their biggest move yet in a yearslong campaign against traders who promote their bearish bets. Most Read from Bloomberg The Securities and Exchange Commission on Friday…
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Tether freezes $28m in USDT linked to Cambodian fraud
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Tether has reportedly frozen a Tron (TRX) wallet containing over 28 million USDT tokens suspected of being proceeds from criminal activities, including money laundering and fraud. A dedicated real-time monitoring account for Tron and Ethereum (ETH) stablecoins, USDT/USDC Blacklist, reported on July 13 that an address, identified as TNVaKW, had…
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Boeing to plead guilty to fraud in US probe of fatal 737 MAX crashes By Reuters
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By Chris Prentice, Mike Spector, and David Shepardson NEW YORK/WASHINGTON (Reuters) – Boeing Co has agreed to plead guilty to a criminal fraud conspiracy charge and pay a $243.6 million fine to settle a U.S. Justice Department investigation into two deadly crashes of its 737 MAX jetliner, the government said…
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Boeing to plead guilty to fraud in US probe of fatal 737 MAX crashes By Reuters
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By Chris Prentice, Mike Spector, and David Shepardson NEW YORK/WASHINGTON (Reuters) – Boeing Co has agreed to plead guilty to a criminal fraud conspiracy charge and pay a $243.6 million fine to settle a U.S. Justice Department investigation into two deadly crashes of its 737 MAX jetliner, the government said…
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Crypto Price Manipulation and Securities Fraud Lead to Two Prison Sentences
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Two men have been sentenced for manipulating the price of Hydrogen Technology’s cryptocurrency, HYDRO, and plotting to defraud investors. This case marks the first time a jury in a federal criminal trial has classified a cryptocurrency as a security and found that cryptocurrency price manipulation constitutes securities fraud. $300 Million…
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Crypto Price Manipulation and Securities Fraud Lead to Two Prison Sentences
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Two men have been sentenced for manipulating the price of Hydrogen Technology’s cryptocurrency, HYDRO, and plotting to defraud investors. This case marks the first time a jury in a federal criminal trial has classified a cryptocurrency as a security and found that cryptocurrency price manipulation constitutes securities fraud. $300 Million…
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Washington Watchdog Issues Fraud Alert
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Washington state regulators are investigating Ethfinance, a cryptocurrency trading platform, after a local investor reported a staggering $310,000 loss. This case raises red flags about potential cryptocurrency scams targeting unsuspecting victims via social media. Ethfinance: Error in friend request The investor, whose name was not mentioned, according to Washington Department…
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Judges hear Elizabeth Holmes’ appeal of fraud conviction while she remains in Texas prison
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Breadcrumb links BMN Business Article writer: Associated Press Michael Liedtke Posted on June 11, 2024 • 3 minutes read You can save this article by registering for free here. Or log in if you have an account. Article content SAN FRANCISCO (AP) — A panel of federal judges spent two…
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Walgreens-backed CityMD settles COVID fraud claims (NASDAQ:WBA)
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Justin Sullivan/Getty Images News walgreens (Nasdaq: WBAThe U.S. Department of Justice (DoJ) announced that subsidized urgent care provider CityMD has agreed to pay more than $12 million to resolve allegations that the company falsely claimed government payments related to coronavirus (COVID-19) tests during the pandemic. Settlement follows An investigation into…
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China’s First Crypto Fraud Trial Ends With Student’s 4-Year Prison Sentence
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In a groundbreaking case that attracted significant attention in China, a university student named Yang Qichao was sentenced to 4 years and 6 months in prison and fined 30,000 yuan ($41,000) for “fraud” in issuing a cryptocurrency called BFF on Binance’s BNB chain. . The case, which took place in…