Tag: Frauds and Swindling

Elizabeth Holmes Rests Her Case in Fraud Trial

SAN JOSE, Calif. — It lasted less than three weeks, centered on one person’s testimony and spanned topics such as financial projections, private jets, falsified documents and intimate partner abuse. On Wednesday, lawyers for Elizabeth Holmes, the founder of the blood testing start-up Theranos, concluded their defense in her fraud trial. She was the final […]

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Elizabeth Holmes Returns to the Stand on Tuesday.

SAN JOSE, Calif. — For the six days that Elizabeth Holmes, the founder of the failed blood-testing start-up Theranos, took the stand in her fraud trial, she blamed others, accused a former boyfriend of abusing and controlling her, and reframed her actions as trying to do good for her company. On Tuesday, Ms. Holmes capped […]

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Steve McLaughlin, a Cuomo Nemesis, Is Charged With Campaign Fraud

Steven McLaughlin, a former New York assemblyman known for his outspoken criticism of former Gov. Andrew M. Cuomo, was arrested on Wednesday and charged with stealing thousands of dollars in campaign contributions to settle a personal debt. Mr. McLaughlin, a Republican now serving as the executive of Rensselaer County, N.Y., was accused of withdrawing $5,000 […]

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Retail Theft Has Gotten Very Organized

In a congressional hearing last year, Representative Lucy McBath, Democrat of Georgia, seemed to catch Amazon’s founder, Jeff Bezos, off guard by asking him if stolen goods were being sold on Amazon. “Congresswoman, not to my knowledge,” he said, before immediately adding, “although, you know, there are more than a million sellers, so I’m sure […]

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Prosecutors Push Elizabeth Holmes of Theranos to Take Responsibility

SAN JOSE, Calif. — For four days, Elizabeth Holmes took the stand to blame others for the alleged fraud at her blood testing start-up, Theranos. On the fifth day, prosecutors tried making one thing clear: She knew. Over more than five hours of cross-examination on Tuesday, Robert Leach, the assistant U.S. attorney and lead prosecutor […]

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Former Temple University Dean Found Guilty of Faking Data for National Rankings

A former dean of Temple University’s business school was found guilty on Monday of using fraudulent data between 2014 and 2018 to boost the school’s national rankings and increase revenue, federal prosecutors said. The former dean, Moshe Porat, 74, was convicted of wire fraud and conspiracy to commit wire fraud for his role in a […]

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Elizabeth Holmes Says Former Boyfriend Abused Her

SAN JOSE, Calif. — Taking a deep breath, Elizabeth Holmes briefly crumpled her face as she spoke, her voice breaking. Ramesh Balwani, her former boyfriend and business partner, emotionally and physically abused her, Ms. Holmes testified in court on Monday. He was controlling, she said, prescribing the food she ate, dictating every minute of her […]

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Elizabeth Holmes Testimony: Updates From Day 4

SAN JOSE, Calif. — Elizabeth Holmes, the founder of the failed blood testing start-up Theranos, took the stand for a fourth day on Monday to defend herself in a fraud trial that has been billed as a test of start-up hubris and hype. Ms. Holmes faces 11 charges of defrauding patients, doctors and investors by […]

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Elizabeth Holmes Points Fingers at Others and Says She Was a Believer

SAN JOSE, Calif. — Using charisma, poise and a smattering of scientific jargon, Elizabeth Holmes persuaded investors to give her nearly $1 billion to build Theranos, her blood testing start-up. That all came crashing down in 2018, after the company’s technology and business dealings were revealed to have major problems. On Tuesday, Ms. Holmes used […]

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Scams and Slippery Slopes

First, Politico reported that Sinema has received donations from the multilevel marketing industry: The political action committee associated with Alticor, the parent entity of the health, home and beauty company Amway, gave $2,500 to the Arizona Democrat in late June, as did the PAC for Isagenix, an Arizona-based business that sells nutrition, wellness and personal […]

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Gerald Migdol Is Charged in Campaign Finance Scheme

A Manhattan real estate developer was charged on Friday with scheming to conceal contributions to a candidate in this year’s New York City comptroller’s race in a bid to get as much public financing for the candidate as possible. The developer, Gerald Migdol, arranged for dozens of donations to be made to the campaign in […]

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U.S. Rests Its Case in the Elizabeth Holmes Trial

SAN JOSE, Calif. — For the past 11 weeks, prosecutors revealed emails from desperate investors. They held up falsified documents side-by-side with the originals. They called dozens of witnesses who lobbed accusations of deceit and evasiveness. And on Friday, after questioning their 29th witness, prosecutors concluded their arguments against Elizabeth Holmes, the founder of the […]

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Couple Convicted of Covid Relief Fraud Is on the Run, FBI Says

When the Covid-19 pandemic began last year, a Southern California man recruited his brother, his wife and many others to use the identities of older people, foreign exchange students who had left the country and dead relatives to apply for $20 million in federal relief funds, the authorities said. The man, Richard Ayvazyan, 43, bought […]

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Art Dealer Pleads Guilty to Wire Fraud Charges in $86 Million Scam

For years Inigo Philbrick, a young art dealer with a gallery in the Mayfair district in London, was a brash fixture within the world of postwar and contemporary art. Known for traveling on private jets, renting villas in Ibiza and wearing handmade Italian suits, he also was known to draw people into investing with him […]

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How Elizabeth Holmes Soured the Media on Silicon Valley

SAN JOSE, Calif. — At the height of her acclaim in 2015, Elizabeth Holmes, the entrepreneur who founded the blood testing start-up Theranos, was named Glamour’s “Woman of the Year.” Time put her on its list of 100 luminaries. And she graced the covers of Fortune, Forbes, Inc. and T Magazine. Theranos collapsed in scandal […]

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Archdiocese of New Orleans to Pay $1 Million to Settle FEMA Fraud Claims

The Archdiocese of New Orleans has agreed to pay more than $1 million to the federal government to resolve allegations that it filed false claims for disaster relief money after Hurricane Katrina, dealing another blow to an embattled institution that filed for bankruptcy last year amid a growing tide of sexual abuse allegations. The accusations, […]

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Husband of ‘Sweetheart Swindler’ Sentenced to 85 Years for Bilking Older People

Ms. Boltos, who is now 40, was sentenced to 263 years in prison — to be served concurrently as 85 years — after a jury found her guilty of five counts of theft of property and one count of exploitation of an elderly person. Mr. Hill’s lawyer, Eve Schatelowitz, called the sentence “unduly harsh,” saying […]

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California Businessman Is Sentenced to 30 Years in $1 Billion Ponzi Scheme

An owner of a California solar company was sentenced this week to 30 years in prison for orchestrating a $1 billion Ponzi scheme and using the money to make extravagant purchases, including luxury estates, more than 100 cars and a minor league-baseball team, federal prosecutors said. Jeff Carpoff, 50, received the maximum sentence on Tuesday […]

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Key takeaways from Week 10 of the Elizabeth Holmes trial.

This week, the main witnesses at the fraud trial of Elizabeth Holmes, the founder of the blood testing start-up Theranos, were former lab directors who testified about some of the inner workings of the failed company. But a different issue increasingly loomed over the proceedings: Just how long is Ms. Holmes’s trial going to last? […]

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Metallurgist Admits She Falsified Test Results for Steel Used in Navy Submarines

A former metallurgist at a foundry that provides steel used to make U.S. Navy submarines pleaded guilty in federal court in Tacoma, Wash., on Monday to falsifying test results that measured the strength and toughness of the metal — a practice that prosecutors said she continued for more than three decades. The former metallurgist, Elaine […]

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Elizabeth Holmes Trial Exposes Investors’ Lack of Due Diligence

SAN JOSE, Calif. — In 2014, Dan Mosley, a lawyer and power broker among wealthy families, asked the entrepreneur Elizabeth Holmes for audited financial statements of Theranos, her blood testing start-up. Theranos never produced any, but Mr. Mosley invested $6 million in the company anyway — and wrote Ms. Holmes a gushing thank-you email for […]

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Luka Doncic Autographs Questioned Among Collectors

Collectors who agree that the “Lulu” signatures are legitimate point to a gift for the Slovenian president that features one, a skipped pen stroke that has been observed in both archetypes of autographs, and the fact that grading companies authenticate them. A spokeswoman for Beckett Grading Services said in an email that outside speculation about […]

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Brett Favre Repays $600,000 in Mississippi Welfare Fraud Case

Brett Favre, the Hall of Fame quarterback who was raised in Mississippi, this week paid the state back $600,000 that he owed after he improperly received welfare money as part of an extensive fraud scheme, according to the state auditor’s office. But Mr. Favre could still be sued if he does not pay the state […]

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Gene Freidman, ‘Taxi King’ Who Upended His Industry, Dies at 50

Mr. Freidman, a lawyer by training, was once flush with $525 million in assets, personally owning 250 taxi medallions worth $1.3 million each, a 4,000-square-foot townhouse off Park Avenue in Manhattan, an estate in Bridgehampton, N.Y., two villas on the French Riviera and a $400,000 Ferrari. “Every day that I wake up, you know, I’m […]

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Trump Organization, Already Under Indictment, Faces New Criminal Inquiry

Every year since 2015, the Trump club has appealed its tax bill in court, prompting an outcry in the Ossining area, where hundreds of demonstrators marched in 2017, chanting, “Pay your share.” In seeking to cut the tax bill — sometimes by as much as 90 percent — the club has argued that the property […]

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Elizabeth Holmes Trial: Key Moments From Week 6

SAN JOSE, Calif. — Was Theranos a small start-up struggling to meet the demands of working with big, sophisticated and powerful corporations? Or was Elizabeth Holmes, the former chief executive of the blood testing company, misleading and deceiving those corporations to get money? That debate was at the heart of testimony in the sixth week […]

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Mark Forkner, Former Boeing Pilot, Indicted in Connection With 737 Max Jet

But even as Boeing emerged from the Max crisis, it was confronted with another: The coronavirus pandemic brought aviation to a standstill, crippling airlines around the world and forcing many to rethink, or at least delay, plans to buy new planes. Boeing has also slowed production and paused deliveries of its 787 Dreamliner in the […]

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U.S. Charges Once-Rising Artist With Selling Raymond Pettibon Forgeries

In a message posted on Twitter two years ago, the artist Raymond Pettibon expressed his gratitude to two friends who had paid him a visit. “Thank you Christian Rosa and Henry Taylor for coming by,” he wrote. “Great artists and kind, genuine people. You made my day.” But at the time, according to federal prosecutors, […]

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Robocalls Are Not Even the Worst of It

I am happy to inform you that the federal government is revving up the war on robocalls. I checked on how things were going just after hanging up on a tinny-voiced woman who wanted to warn me that my car’s extended warranty was going to expire unless I pressed 1. In case I didn’t really […]

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Antiquities Dealer Admits Mass-Producing Fakes He Sold for Years

For decades customers interested in all manner of rarities — ancient coins, sarcophagus masks, prehistoric fossils — went to Mehrdad Sadigh’s gallery near the Empire State Building in Manhattan. The items came with certificates of authenticity, and the gallery’s website was filled with accolades from customers who appreciated the gracious touch he brought to his […]

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