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The SEC Is Using Satellites To Hunt For Fraudsters

I did not find the headline to be remarkable: SEC Charges Mexico-Based Homebuilder in $3.3 Billion Accounting Fraud. The subtitle caught my attention: SEC Uses Satellite Imagery to Crack Case We learned from the Rajaratnam insider trading case that the SEC was using wire taps and informants as part of its securities fraud investigations. The SEC […]

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The SEC Is Serious About Protecting Seniors

It was a real estate fraud action that caught my eye, but the victims that kept me reading. The Securities and Exchange Commission filed charges against Paul Garcia and his fund management company, Caliber Capital, for defrauding investors. Since it was a real estate fraud, it caught my eye. But I didn’t have to dive […]

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Wealth Building by Stealing From Your Investors

Jim Toner wants to help you get rich investing in real estate. He has a “simple 3 step method the ‘experts’ and ‘gurus’ don’t want you to know about creating lasting wealth with real estate…” According to an SEC complaint those steps are lying to investors, taking undisclosed fees, and pocketing some of the capital. […]

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The Duchess and the Mouse Hole Cheat for Russian Athletes

Widespread cheating by Russian athletes has been uncovered. One of the key figures was Russian Dr. Rodchenkov who had breakthrough work on the detection of peptides and long-term metabolites of prohibited substances. In the jargon of espionage, Dr. Rodchenkov was a double agent. While operating at the forefront of doping detection, he was secretly developing a […]

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Trustee Charged As A Failed Gatekeeper

When a fraud is uncovered, the Securities and Exchange Commission not only wants to get the fraudsters, it also wants to get those who should have stopped the fraud: the gatekeepers. Recently, the SEC has brought charges against a fund administrator and fund auditors. The latest is a case against The Securities and Exchange Commission […]

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When Is Fraud Just A Breach Of Contract?

If you are going to originate some shady mortgages, maybe you shouldn’t nickname the program the “hustle.” If you package up the mortgages and sell them as good mortgages, it would seem you are committing fraud. But maybe not. It may come as no surprise that the company running the “hustle” was Countrywide. According to […]

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SEC Charges Fund Administrator as a Failed Gatekeeper

The Securities and Exchange Commission charged Steven Zoernack and his firm EquityStar Capital Management with fraud for stealing investor money and hiding his criminal past. The SEC brought fraud charges against ClearPath Wealth Management and its principal, Patrick Evans Churchville, for operating a fraudulent scheme that resulted in at least $11 million in losses to […]

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Investment Fraud and Online Dating

Most good financial advisers will tell you that referrals are their best source of business. The same is true for fraudsters. Affinity fraud is just using a network to funnel new “investors” into a fraud. The Boston office of the Securities and Exchange Commission brought charges against an alleged fraudster using an unusual network. The […]

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A Chairlift to Securities Fraud

The Securities and Exchange Commission brought charges against the owners of Jay Peak resort in Vermont’s Northeast Kingdom just as ski and snowboard season is winding down. The Miami-based ownership was allegedly using fraudulent EB-5 offerings to raise money and take a bit off off the top for themselves. Jay Peak is wonderful mountain for […]

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Rosie Ruiz, center, is helped by Boston police after winning the women's division of the Boston Marathon, April 21, 1980. Ms. Ruiz had a partial unofficial time of 2 hours, 31 minutes, and may have broken the women's record set in 1979. (AP Photo)

Racing, Compliance and Cheating

With the Boston Marathon on Monday, the legend of Rosie Ruiz comes up as one of the most infamous sports cheats. Races have since added controls, but cheaters still look for ways around the controls. For those of you not familiar with the history of the Boston Marathon, Rosie Ruiz was declared the winner of […]

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