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.
A convicted felon has pleaded guilty in connection with a $50 million real-estate fraud in South Florida, prosecutors announced, closing another chapter in a case built on the same reliable prop that fuels so many investment schemes: property. Real estate feels tangible and safe, which makes it an unusually effective backdrop for fraud. A pitch…
Hua Wang, a 48-year-old resident of Flushing, New York, pleaded guilty to running a $65 million fraud and money laundering operation that preyed on thousands of elderly victims across the United States. According to the U.S. Attorney’s Office for the Southern District of California, Wang admitted responsibility for more than 2,000 cash packages mailed by…
Texas residents lost more money to cryptocurrency kiosk scams in 2025 than victims in any other state, with 1,179 complaints totaling $56,802,197 in adjusted losses. Older adults bore a disproportionate share of those losses, often after receiving fake calls from scammers posing as government agents or tech-support workers. The scale of the problem has now…
Hua Wang, the lead defendant in a multinational fraud and money laundering operation that caused $65 million in losses, pleaded guilty in federal court in San Diego. The scheme targeted elderly victims across multiple states through India-based call centers, crypto wallets, and fake identification documents. Ten co-defendants also entered guilty pleas, capping one of the…
Texans lost roughly $56 million through cryptocurrency kiosk scams in a single year, according to FBI complaint data, and the Texas Legislature has responded with a bill that would cap transactions at $3,000 per customer every 24 hours. S.B. 1705, filed during the 89th legislative session, targets a payment channel that state and federal officials…
Federal prosecutors in New Jersey are moving to dismiss all charges against Matthew Brent Goettsche, the man they accused of masterminding the BitClub Network, a cryptocurrency fraud scheme that took at least $722 million in bitcoin from investors. Three co-defendants have already pleaded guilty. The reversal, after years of building what appeared to be a…
Christopher Alexander Delgado, the man behind a crypto scheme called Goliath Ventures, now faces federal orders to hand over 11 luxury vehicles, 30 high-end watches, and 50 designer handbags after prosecutors alleged he ran a $250 million Ponzi-style fraud. The U.S. Attorney’s Office for the Middle District of Florida filed a verified civil forfeiture complaint…
Vincent J. Camarda, the chairman and CEO of A.G. Morgan Financial Advisors, pleaded guilty to running an investment fraud scheme that collected at least $138 million from more than 430 investors through promissory notes tied to five private equity funds. Federal prosecutors say Camarda used his dual position as both a registered adviser and fund…
Mingran Wang, a 52-year-old Fremont, California, resident who presented himself as the founder and investment manager of Greenroots Capital, pleaded guilty to securities fraud for executing more than 3,000 illegal spoofing trades between 2021 and 2024. Federal prosecutors say Wang placed fake orders in thinly traded stocks to move prices in his favor, then canceled…
Federal authorities have charged at least 21 people in a civil enforcement action, and as many as 30 in parallel criminal indictments, for allegedly running an insider-trading ring that spent roughly a decade stealing deal secrets from global law firms. The scheme, according to the SEC and the U.S. Attorney’s Office for the District of…