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.
Twenty-five people now stand convicted in an international email fraud scheme that stole approximately $215 million from more than 1,000 victims spread across 47 states and 19 countries. A federal jury in Toledo, Ohio, delivered the final three guilty verdicts on April 24, 2026, after a four-day trial, closing a prosecution that ranks among the…
The Justice Department’s Fraud Division reported more than $1 billion in enforcement actions in a single week, the second consecutive week of results at that scale. The largest case centered on Brett Blackman, founder and owner of HealthSplash, who was convicted by a Southern District of Florida jury in a Medicare fraud conspiracy that billed…
Vincent Camarda, a Long Island investment adviser who ran A.G. Morgan Financial Advisors, pleaded guilty in federal court to securities fraud and investment adviser fraud tied to a scheme that bilked at least 431 investors out of roughly $160 million. The guilty plea, entered in Central Islip, New York, carries restitution of at least $160,022,836.81…
Federal and state authorities have charged Lancaster County, Pennsylvania, businessman Daryl F. Heller with orchestrating a fraud that collected roughly $402 million from about 2,700 investors over nearly eight years. The scheme allegedly promised fixed monthly returns from ATM machine investments but instead used new investor money to pay earlier participants. Both the Securities and…
Edwin Brant Frost IV, the president of First Liberty Building & Loan LLC, faces both civil and criminal charges after federal authorities accused him of running a Ponzi scheme that collected at least $140 million from roughly 300 investors. The SEC filed a complaint in the U.S. District Court for the Northern District of Georgia,…
People who have already lost money to fraud are being targeted again, this time by operators who promise to recover those losses in exchange for an upfront fee. Three federal agencies – the FTC, the CFTC, and the SEC – classify this tactic as advance-fee fraud, a second scam layered on top of the first….
Federal prosecutors in the Southern District of New York say a California man named Max McDermott engineered a $10 million loan fraud scheme with a specific goal: repay investors quickly enough to derail an active Securities and Exchange Commission investigation before enforcement staff could file charges. McDermott was arrested and charged with wire fraud and…
Charles Cole, a 57-year-old from Mooresville, North Carolina, told executives at a technology company he could deliver $55 billion in funding. Federal prosecutors say none of that money existed. Before the deception collapsed, Cole had already collected at least 239 million shares of Infinite Reality, a firm now known as Napster, and used those shares…
A federal jury found Bradley Heppner guilty of securities fraud, wire fraud, conspiracy, and making false statements to auditors after a three-week trial, according to the U.S. Attorney’s Office for the Southern District of New York. Heppner, identified as the former chairman of GWG Holdings and founder of Beneficient, was convicted of running a scheme…
Two church-linked investment schemes charged by the SEC in 2023 drained more than $55 million from congregants who trusted the people sitting beside them in the pews. In central Illinois, a father and son-in-law allegedly recruited over 1,000 investors from a single large congregation, raising at least $20.5 million while recycling more than $11 million…