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Tag: scam

FBI Investigates Bogus Miami Heat Tickets Following Expensive Scams

Steve Neavling
ticklethewire.com 

The FBI is investigating the sale of bogus tickets for Miami Heat basketball games after a former NFL Hall of Fame player was scammed out of first-row seats and $200,000, WPTV.com reports.

Quarterback Warren Moon was reportedly scammed, along with other NFL players Charles Woodson and Jarvis Green.

The FBI confirmed it was investigating the sale of bogus tickets but wouldn’t elaborate.

Miami Heat is urging fans to be on the look out for scams.

Fed Employees Warned to Stay Away from App for Thrift Savings Plan

By Nextgov.com

Officials are urging federal employees to steer clear of a new third-party application that may be fishing for personal information about their Thrift Savings Plan government retirement accounts.

“A free iPhone App, TSP Funds, currently being offered through the Apple App store asks TSP participants for their account login information,” TSP said in a statement. “This app is not being offered through the TSP and the TSP does not recommend using this application to access your TSP account. Providing this information could result in a security risk to your account.”

To read more click here.

FBI: More Than 300,000 Could Lose Web Access in July

By CNN

In the wake of a multi-million-dollar online scam, more than 300,000 computer users worldwide could find themselves without Web access this summer.

Luckily for them, it will only take a few clicks to clean things up.

The FBI announced that it’s created a website where users can check whether they’re infected with malware and remove it if they are. Check your computer here — http://www.dcwg.org. The site was at times difficult to access on Monday, presumably due to heavy traffic.

To read more click here.

 

OTHER STORIES OF INTEREST

 

Secret Service Looking Into “Black Money” Scam in New England

By Danny Fenster
ticklethewire.com

Paper money has often been cited as one of the dirtiest materials we touch every day. But if someone offers to wash it for you, kindly decline.

Authorities in Providence, R.I. last week arrested two Liberian nationals in an expanding “black money” scheme that has already cost three New Englanders $170,000, reports the Associated Press. The Secret Service is now looking into the scam.

The con artists seek out victims at night clubs and other locations, looking for people that seem to be well-off. They tell victims that they have real currency died black to avoid detection by customs officials when forced from their countries, according to the AP, and cannot afford the chemical mix needed to wash the bills back to normal. They will demonstrate the cleaning process with a few bills as a trap, a process that one agent said is very convincing.

“If it sounds too good to be true, it probably is,” said Thomas M. Powers, U.S. Secret Service Resident Agent in Charge in Providence, according to AP.

Victims will withdraw money and follow the criminals to a hotel, where the money is to be washed in a solution of chlorine, ammonia and laundry detergent mixed in a bathtub. The mix gives off a smell so powerful that the victim is usually overcome to the point that they leave the criminals alone with the money. Then the victims and criminals leave the room for a meal, and the criminals hand over the room and safe keys to the victim. When the victims return to the safe they are left with stacks of black construction paper.

Powers told the AP the scam is taking place mostly in Massachusetts and Rhode Island, and investigators believe their are 20 scammers involved, and additional victims that may be too embarrassed to come forward. They believe the scam to be spreading out across New England, and while authorities aren’t sure how the money is spent, there is no evidence of violence or connections to terrorism.

To read more click here.

Madoff’s Accountant Pleads Guilty and Agrees to Cooperate

money-photoBy Allan Lengel
ticklethewire.com

The potential to snare more bad guys in the Bernie Madoff scam is growing.

Madoff’s accountant David Friehling pleaded guilty in New York on Tuesday  to nine criminal charges, and has agreed to cooperate with the feds. That could mean more indictments.

Friehling told U.S. District Court Judge Alvin Hellerstein that he failed to conduct meaningful audits of Madoff’s business from 1991 through 2008, USA Today reported. His sentencing is set for Feb. 26.

“I appear before your honor today to take responsibility for my conduct,” said Friehling, who insisted he didn’t know about the scam and lost his own and his family’s life savings to Madoff, USA Today reported. “I am truly sorry for the suffering of all the victims.”

USA Today reported that “he may qualify for leniency based on what Manhattan U.S. Attorney Preet Bharara called his agreement to ‘assist us in holding others accountable for their involvement in Madoff’s epic fraud'”.

He pleaded guilty to securities fraud, investment adviser fraud and making false filings to the Securities and Exchange Commission.

Madoff May be Gone But Scammers Still Abound

handcuffedBernie Madoff may have had the most infamous Ponzi scheme of all time (short of Charles Ponzi), but there are still investors out there getting bilked of their retirement savings and other funds by scammers. First, we have Ponzi schemer Donald Manning sentenced to over 5 years in prison for taking $4.5 million in cash from retirees. Then we have Eric Hauser, former head securities trader and founder of the Lancer Group, manipulating stock values to the tune of $200 million in investor losses. Kudos to the prsoecutors  in these two – this is the last thing our economy needs right now.


By Mike Allen
San Diego Business Journal
Donald Manning, a former president of an investment firm that bilked some $4.5 million from retirees including members of Manning’s family, was sentenced April 15 to 63 months in federal prison by federal Judge Barry Ted Moskowitz, federal prosecutors said.

Manning, 71, pleaded guilty to conspiracy and fraud charges Jan. 16 in the case that involved two other defendants, Joseph Wayne McCool and Cameron Campbell.

For Full Story

South Florida Business Journal

A former head securities trader pleaded guilty on Tuesday (April 28)  in Miami to charges he participated in a scheme to manipulate trading of stocks owned by the Lancer Group hedge funds.

Investors are estimated to have lost $200 million.

Eric Hauser, 65, was founder and primary manager of the Lancer Group.

It was alleged that, between 1999 and 2003, Lauer and others manipulated the closing market price of thinly traded shell company securities to falsely inflate the value of the Lancer Group hedge funds.

For Full Story