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Who Is Charlie Javice? Founder Behind $175 Million JPMorgan Scam Jailed For Over 7 Years
Charlie Javice, founder of Frank startup, sentenced to 85 months in prison for defrauding JPMorgan Chase in a $175 million acquisition deal by falsely inflating user numbers.
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US Court Overturns $464 Million Civil Fraud Penalty Against Trump
A US court threw out a $464 million civil penalty against President Donald Trump imposed by a judge who found he fraudulently inflated his personal worth, calling the sum "excessive" but upholding the judgment against him.
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CBI Busts Fake Amazon Tech Support Centre Operating In Maharashtra, 5 Arrested
The CBI has dismantled a clandestine syndicate of cyber criminals masquerading as Amazon technical support centre operational at a resort in Maharashtra's Nashik, arresting five Mumbai-based fraudsters, officials said.
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Maharashtra Woman Duped For Rs 1 Lakh In Currency Exchange Fraud: Cops
Three unidentified persons allegedly duped a woman from Navi Mumbai of Rs 1 lakh under the pretext of providing her US currency in exchange for the Indian money, police said on Wednesday.
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"Crazy Thing": OpenAI's Sam Altman Warns Of AI Voice Fraud Crisis In Banking
OpenAI CEO Sam Altman warned the financial industry of a "significant impending fraud crisis" because of the ability of artificial intelligence tools to impersonate a person's voice to bypass security checks and move money.
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2 Indian Students Get Jail In Multi-Million Dollar Fraud Schemes In US
Two Indian nationals studying in the United States have been sentenced to federal prison in separate but similar fraud cases involving elaborate scams that targeted elderly Americans and resulted in millions of dollars in losses.
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US Flags "Significant" Data Gap As Bank Deploy AI In Fraud Prevention
The US financial sector faces a "significant" data gap between big and small banks as they deploy AI to fight fraud, the Treasury Department said Wednesday, noting that smaller institutions are disadvantaged.
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Indian-American Swindles Football Team's $22 Million To Fund Luxury Life
A former executive of Jacksonville Jaguars, an American Football team, swindled $22 million from the team's coffers to fund his luxury lifestyle to buy expensive watches, a Tesla and pay for his chartered flights.
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Sam Bankman-Fried Convicted of Financial Fraud: What Next For FTX Founder?
FTX founder Sam Bankman-Fried was convicted on Thursday of orchestrating a multibillion dollar fraud on the cryptocurrency exchange's customers.
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Sam Bankman-Fried: All About US Crypto Mogul Convicted Of Financial Fraud
Bankman-Fried has pleaded not guilty to seven counts of fraud and conspiracy. He has acknowledged inadequate risk management, but denied stealing funds.
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FTX Bankruptcy Judge Denies Request for Independent Examiner Ahead of Bankman-Fried's Bail Review
The judge presiding over the bankruptcy of cryptocurrency exchange FTX has denied a request by the US bankruptcy trustee to appoint an independent examiner in the case. The trustee argued that the company’s financial affairs and business operations, including allegations of unprecedented fraud leading to its collapse, should be reviewed by a disi...
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New York State Senator Proposes to Criminalise Crypto Frauds, Rug Pull Scams
Given the rising number of crypto scams denting the industry, New York Senator Kevin Thomas has proposed to criminalise such frauds. Thomas aims to strictly punish those who exploit virtual currencies and cause financial harms to innocent investors. The bill is currently awaiting a committee review.
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Huawei Official Leaves Canada After US Deal On Fraud Charges
Huawei Chief Financial Officer Meng Wanzhou flew home to China on Friday after reaching an agreement with US prosecutors to end the bank fraud case against her, relieving a point of tension between China and the United States.
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Indian-Origin Ex-CEO Of Mobile App Startup Charged With Fraud In US
An Indian-origin former CEO of a technology company has been arrested in the US and charged with defrauding investors to the tune of USD 80 million by overstating the startup's revenue and other key financial metrics.
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New York Sues To Dissolve US Gun Lobby Group NRA Over Financial Fraud, Misconduct
The state of New York sued the National Rifle Association and its leader Wayne LaPierre Thursday for financial fraud and misconduct, aiming to dissolve the powerful US conservative lobby.
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Who Is Charlie Javice? Founder Behind $175 Million JPMorgan Scam Jailed For Over 7 Years
Charlie Javice, founder of Frank startup, sentenced to 85 months in prison for defrauding JPMorgan Chase in a $175 million acquisition deal by falsely inflating user numbers.
-
US Court Overturns $464 Million Civil Fraud Penalty Against Trump
A US court threw out a $464 million civil penalty against President Donald Trump imposed by a judge who found he fraudulently inflated his personal worth, calling the sum "excessive" but upholding the judgment against him.
-
CBI Busts Fake Amazon Tech Support Centre Operating In Maharashtra, 5 Arrested
The CBI has dismantled a clandestine syndicate of cyber criminals masquerading as Amazon technical support centre operational at a resort in Maharashtra's Nashik, arresting five Mumbai-based fraudsters, officials said.
-
Maharashtra Woman Duped For Rs 1 Lakh In Currency Exchange Fraud: Cops
Three unidentified persons allegedly duped a woman from Navi Mumbai of Rs 1 lakh under the pretext of providing her US currency in exchange for the Indian money, police said on Wednesday.
-
"Crazy Thing": OpenAI's Sam Altman Warns Of AI Voice Fraud Crisis In Banking
OpenAI CEO Sam Altman warned the financial industry of a "significant impending fraud crisis" because of the ability of artificial intelligence tools to impersonate a person's voice to bypass security checks and move money.
-
2 Indian Students Get Jail In Multi-Million Dollar Fraud Schemes In US
Two Indian nationals studying in the United States have been sentenced to federal prison in separate but similar fraud cases involving elaborate scams that targeted elderly Americans and resulted in millions of dollars in losses.
-
US Flags "Significant" Data Gap As Bank Deploy AI In Fraud Prevention
The US financial sector faces a "significant" data gap between big and small banks as they deploy AI to fight fraud, the Treasury Department said Wednesday, noting that smaller institutions are disadvantaged.
-
Indian-American Swindles Football Team's $22 Million To Fund Luxury Life
A former executive of Jacksonville Jaguars, an American Football team, swindled $22 million from the team's coffers to fund his luxury lifestyle to buy expensive watches, a Tesla and pay for his chartered flights.
-
Sam Bankman-Fried Convicted of Financial Fraud: What Next For FTX Founder?
FTX founder Sam Bankman-Fried was convicted on Thursday of orchestrating a multibillion dollar fraud on the cryptocurrency exchange's customers.
-
Sam Bankman-Fried: All About US Crypto Mogul Convicted Of Financial Fraud
Bankman-Fried has pleaded not guilty to seven counts of fraud and conspiracy. He has acknowledged inadequate risk management, but denied stealing funds.
-
FTX Bankruptcy Judge Denies Request for Independent Examiner Ahead of Bankman-Fried's Bail Review
The judge presiding over the bankruptcy of cryptocurrency exchange FTX has denied a request by the US bankruptcy trustee to appoint an independent examiner in the case. The trustee argued that the company’s financial affairs and business operations, including allegations of unprecedented fraud leading to its collapse, should be reviewed by a disi...
-
New York State Senator Proposes to Criminalise Crypto Frauds, Rug Pull Scams
Given the rising number of crypto scams denting the industry, New York Senator Kevin Thomas has proposed to criminalise such frauds. Thomas aims to strictly punish those who exploit virtual currencies and cause financial harms to innocent investors. The bill is currently awaiting a committee review.
-
Huawei Official Leaves Canada After US Deal On Fraud Charges
Huawei Chief Financial Officer Meng Wanzhou flew home to China on Friday after reaching an agreement with US prosecutors to end the bank fraud case against her, relieving a point of tension between China and the United States.
-
Indian-Origin Ex-CEO Of Mobile App Startup Charged With Fraud In US
An Indian-origin former CEO of a technology company has been arrested in the US and charged with defrauding investors to the tune of USD 80 million by overstating the startup's revenue and other key financial metrics.
-
New York Sues To Dissolve US Gun Lobby Group NRA Over Financial Fraud, Misconduct
The state of New York sued the National Rifle Association and its leader Wayne LaPierre Thursday for financial fraud and misconduct, aiming to dissolve the powerful US conservative lobby.
