Category: White Collar Crimes

On June 22, federal authorities announced that 60 licensed medical providers allegedly created false billings that cost Medicare and Medicaid $900 million. Of those medical providers, 30 were doctors, and the overall scope of the fraud included 300 people in more than 25 states. The billings were for a combination of services that weren’t medically necessary and for services that weren’t rendered at all.

Authorities in New York have charged a 39-year-old investment manager with fraud. He is accused of trying to defraud investors of $95 million between July 2015 and March 2016. The man allegedly requested money from investors to support non-existent investments. The director of the Securities and Exchange Commission, which has filed a separate civil lawsuit accused the man of stealing the funding he solicited.

Human resources professionals in New York and around the country know that the amount of phishing emails they receive is likely to go up during February and March. This is the period when most employees file their taxes, and HR departments must often contend with numerous requests for replacement W-2 forms. The information found on W-2 forms can be used to file bogus tax returns or apply for credit cards, and reports surfacing in March 2016 indicate that several large companies have been compromised by scammers seeking this valuable data.

According to the New York City Police Commissioner, white-collar crime seems to be increasing in the city as more street gangs are finding this type of crime lucrative. The crimes that are committed across the nation appear to be fraud and identity theft, among other similar offenses.

New York racing fans may be interested in learning that Scott Tucker, a race car driver who competes on both European and U.S. circuits, was recently indicted for allegedly running a $2 billion fraudulent payday loan operation online. The indictment against Mr. Tucker was filed in federal court in Manhattan.

According to New York court documents, a business partner of a man who died leaving an $86 million estate allegedly embezzled $4 million from the estate while serving as a co-executor. The man is contesting that he embezzled the money and instead said he was rightfully owed the amount due to his reportedly having a 20 percent interest in a building in Manhattan.

According to court documents, one of the former owners of the New York Islanders recently had his assessed 10-year sentence vacated by the U.S. Court of Appeals for the 2nd Circuit in Manhattan. Reportedly, the appellate court found that the record made by the sentencing judge did not meet certain requirements for imposing the sentence that was given.

Prosecutors in New York have said that two men who worked at a Chase bank branch in Brooklyn stole in excess of $400,000 over a two-year period from account holders. The men are said to have carefully selected inactive accounts that had high balances and regular automatic Social Security Administration deposits. Many of the 15 accounts described by prosecutors were held by elderly individuals, and eight of the account holders were deceased.

Prosecutors say that two New York bank employees stole more than $300,000 from the accounts of elderly or deceased individuals. The men worked as personal banking representatives at a JP Morgan Chase branch in Brooklyn’s Bedford-Stuyvesant neighborhood where they are said to have targeted dormant accounts that were still receiving regular automated deposits from the Social Security Administration. Prosecutors say that the men illegally accessed 15 accounts between August 2012 and October 2013.

A trader who allegedly lied to investors about the prices of mortgage bonds has had some of his convictions overturned. The 3-0 decision was handed down by the U.S. Court of Appeals for the 2nd Circuit in New York on Dec. 8.