Ponzi Scheme Resulted In $10 Million In Losses For Investors

In July 2008, special agents from the FBI Sacramento Field Office executed a search warrant at the residence of a suspect and interviewed other individuals in connection with a mortgage fraud investigation.

In addition to finding evidence for their own case, investigators uncovered ties to what appeared to be a separate mortgage fraud scheme, and FBI Sacramento opened another case, working in partnership with the Internal Revenue Service (IRS) Criminal Investigation. >Continue Reading<☺

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Authorities Shutter Online Criminal Market AlphaBay

The largest marketplace on the Darknet—where hundreds of thousands of criminals anonymously bought and sold drugs, weapons, hacking tools, stolen identities, and a host of other illegal goods and services—has been shut down as a result of one of the most sophisticated and coordinated efforts to date on the part of law enforcement across the globe. >Continue Reading<☺

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SEC CHARGES INVESTMENT BANKER IN INSIDER TRADING SCHEME

Washington D.C.  —  The Securities and Exchange Commission today charged an employee of a prominent investment bank with repeatedly using his access to highly confidential information in order to place illicit and profitable trades in advance of deals on which the bank was providing investment banking advisory services.

According to the SEC’s complaint, Woojae “Steve” Jung, a Vice President of Investment Banking who worked in the bank’s San Francisco and New York offices, used sensitive client information in order to…>Continue Reading<☺

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