3 Indicted for Procurement Fraud at UMass
Two men have been indicted for allegedly taking illegal payments from outside contractors for services at UMass Amherst, and one man for allegedly making said payments.
Mortgage Company President Sentenced for Defrauding Ginnie Mae
The president and founder of a Falmouth mortgage company was sentenced earlier this week in federal court in Boston in connection with defrauding Ginnie Mae out of approximately $2.5 million.
Former Investment Advisor Sentenced for Fraud and Perjury
A former investment advisor was sentenced earlier this week in federal court in Boston for deceiving his former clients concerning the management of their retirement savings as well as lying to the U.S. Securities and Exchange Commission.
Everett Man Sentenced for Defrauding Department of Unemployment Assistance
An Everett man was sentenced last week in federal court in Boston in connection with a scheme to defraud the Massachusetts Department of Unemployment Assistance of more than $1.7 million.
Former Boston City Council Candidate Admits to Real Estate Fraud
A former candidate for Boston City Council admited he posed as a real estate broker and swindled thousands from potential homebuyers.
Boston-Area Investment Adviser Sentenced for Fraud
A Boston-area investment adviser was sentenced yesterday in federal court in Boston for using his clients’ funds to make his own investments and to pay personal expenses.
Cape Cod Investment Advisor Admits $3M Scheme
An Orleans investment adviser pleaded guilty yesterday in U.S. District Court in Boston to defrauding her clients of more than $3 million and using those funds for her own expenses.
Georgia Man Charged with Social Security and Wire Fraud
A Georgia man yesterday appeared in federal court in Springfield to face charges connected with his submission of a fraudulent application for employment at a Western Massachusetts hospital.
Bank Executive and Husband Sentenced After Embezzling $2.7M
A former senior vice president at Bank of America and her husband were sentenced last week in federal court in Boston for embezzling more than $2.7 million from the bank using fraudulent donations to nonprofit organizations.
Former State Street Executive Sentenced for Scheme to Defraud Clients
A former executive vice president of State Street Corporation was sentenced yesterday in federal court in Boston in connection with engaging in a scheme to defraud at least six of the bank’s clients through secret commissions applied to billions of dollars of securities trades.
Study: Almost All Financial Service Firms Experience Some Form of Fraud
Nearly all financial service firms have experience some sort of fraud within the last two years, whether it’s identity theft or new account fraud, synthetic identity fraud or account takeover fraud.
Borrowers Fake Income, Employment to Buy Homes
Prices are up, interest rates are rising and it’s tough for a lot of people to qualify to buy a home. So what do some of them do? A growing number of them fake it.
Woman Sentenced for Role in Fraudulent Airplane Loan Scheme
A Chicago woman was sentenced yesterday in federal court in Worcester for her role in a fraudulent airplane loan scheme.
SEC Charges Cape Cod Investment Adviser with Fraud
The Securities and Exchange Commission (SEC) filed an enforcement action charging a Cape Cod-based investment advisor with fraud.
Boston-Area Investment Adviser Sentenced for Fraud
A Boston-area investment adviser was sentenced yesterday in federal court in Boston for using his clients’ funds to make his own investments and to pay personal expenses.
Pittsfield Businessman Pleads Guilty to Conspiracy to Defraud Greylock FCU
A businessman who owned and operated five real estate development companies in Pittsfield plead guilty in federal court yesterday in Springfield to defrauding a credit union.
Former State Street Executive Convicted in Secret Trading Commissions Scheme
A former executive vice president of State Street Corp. was convicted yesterday by a federal jury in Boston in connection with engaging in a scheme to defraud at least six of the bank’s clients through secret commissions applied to billions of dollars of securities trades.
Man Pleads Guilty to Money Laundering
A Cypriot national pleaded guilty in federal court in Boston to money laundering.
Barclays to Pay $2B US Fine Over Mortgage Fraud Claims
Barclays has agreed to pay $2 billion for allegedly causing billions of dollars of losses to investors by engaging in a fraudulent scheme to sell residential mortgage-backed securities between 2005 and 2007, the U.S. Justice Department said on Thursday.
Brockton Woman Charged with Stealing Social Security Benefits for 17 Years
A Brockton woman was arrested yesterday and charged in federal court in Boston with stealing Social Security benefits.
