The financial news that actually matters
Covers financial scams, fraud cases, regulatory enforcement actions, and government crackdowns on illegal financial activity. It educates readers on financial safety and risk prevention.
Federal prosecutors and international police agencies arrested at least 276 people and restrained more than $700 million in cryptocurrency tied to Southeast Asian scam compounds that targeted American victims through fake investment and romance schemes. The sweep dismantled at least nine scam centers, most linked to operations in Burma, and produced wire-fraud and money-laundering charges…
Thousands of people who lost money in the BitClub Network crypto fraud may never see a dollar returned. The Justice Department is moving to dismiss its criminal case against a remaining defendant in United States v. Goettsche et al., docket 19-CR-877-CCC in the District of New Jersey, after prosecutors alleged that at least $722 million…
Vincent Dispoto Jr., the owner of two small New Jersey investment firms, pleaded guilty to wire fraud after running a scheme that spanned from December 1988 to January 2025 and caused approximately $6.99 million in losses. A federal judge sentenced him on August 26, 2025, to 151 months in prison for defrauding more than 60…
Federal prosecutors have charged two former senior executives of Mobileum, a telecom analytics company, with inflating the firm’s financial results ahead of a $915 million private-equity acquisition. The Department of Justice unsealed an indictment naming former CFO Andrew Warner and former Chief of Delivery Kishore Vangipuram, accusing them of conspiracy to commit securities fraud and…
Catalina Corona, a personal assistant to an elderly married couple on Long Island, pleaded guilty to wire fraud after stealing approximately $10 million from her employers over a span of roughly seven years. The scheme, which ran from about 2017 to 2024, involved hundreds of forged checks and direct transfers from the couple’s accounts. The…
Federal authorities have charged Kenneth Mattson, the former CEO of a Sonoma County real-estate firm, with running a Ponzi scheme that spanned roughly 15 years and siphoned at least $46 million from approximately 200 investors. Many of those investors were retired senior citizens Mattson knew through his own church community. The parallel civil and criminal…
Xin Liu, a 40-year-old Chinese national living in Apopka, Florida, was sentenced to 27 months in federal prison for her role as a courier in an elder-fraud conspiracy. Between July 22 and July 30, 2025, Liu made at least six cash pickup trips across Florida, collecting packages from elderly victims and verifying their contents before…
Nearly 9,000 people across the United States received an unexpected call from the FBI telling them they were being swindled in cryptocurrency investment schemes, and 77% of them had no idea. Through a program called Operation Level Up, the bureau estimates it prevented $562,726,245 in losses by reaching victims before they sent more money to…
A Manhattan investment fund manager received a four-year federal prison sentence for running a scheme that sold fabricated stakes in private companies to investors who believed they were buying into promising pre-IPO opportunities. The case is one of several prosecuted by the Southern District of New York in which defendants raised tens of millions of…
A former Georgia investment advisor drained nearly $10 million from a single elderly client over three years, using forged credentials and unauthorized account access to conceal the theft. Eijroghene Okuma pleaded guilty to one count of wire fraud in federal court, admitting to a scheme that ran from March 2022 through March 2025. The case,…