Fraud
United States Attorney David Metcalf announced that James Sessoms, 60, of Philadelphia, Pennsylvania, was sentenced to 28 months in prison, three years of supervised release, and $398,708.58 in restitution for his scheme to use stolen identities and Social Security numbers to file for government benefits, resulting in a
Fraud
French prosecutors have demanded Fiat face trial on fraud charges over the emissions-tampering scandal that struck Volkswagen, a source told AFP. This is the fourth trial demanded in France against major car makers, following cases against Volkswagen, Peugeot-Citroen, and Renault. Fiat is accused of selling vehicles with diesel engines that
Fraud
Three individuals, Kamaldeen Karaole, Stephen Olamigoke, and Johnson Omodusonu, have been sentenced to federal prison for their roles in a COVID-19 unemployment benefits fraud scheme, resulting in the theft of $520,910 from various state and federal programs. The defendants, who used stolen personally identifiable information to file false unemployment
Fraud
The Durban High Court proceedings continue to unravel the details of the R320-million Durban Solid Waste tender deal, which has implicated former eThekwini mayor Zandile Gumede and 21 co-accused in charges of fraud, racketeering, corruption, and money laundering. The State and defence are in disagreement over how a previous State
Fraud
Mina Tadrus, the mastermind behind a $5.7 million Ponzi scheme targeting friends, family, and members of the Egyptian-American Coptic Christian community, has been sentenced to 30 months in prison. Tadrus founded and operated Tadrus Capital LLC, a hedge fund that purported to use artificial intelligence-based algorithmic trading models, but
Fraud
The Pan-African Society for Social and Economic Change (PASSEC) has petitioned the Nigerian government, alleging serious irregularities in the Association of Senior Staff of Banks, Insurance and Financial Institutions (ASSBIFI). According to PASSEC, the current leadership of ASSBIFI, led by Mr. Olusoji Oluwole, has engaged in a disputed election process,
Fraud
A recent judgment by the High Court of Uganda in the case of Simbamanyo Estates Ltd v Equity Bank (U) Ltd, Equity Bank Ltd, and Bank One Ltd has provided critical clarity on the regulatory landscape for cross-border syndicated lending in Uganda. The decision closely follows the Supreme Court'
Fraud
A Federal High Court in Abuja has granted an interim forfeiture order for N20 million allegedly misappropriated through fraudulent contracts at the National Steel Council (NSC). The court's decision, made by Justice Emeka Nwite, follows an ex-parte motion presented by Ogechi Ujam, counsel for the Economic and Financial
Fraud
Three individuals, Kamaldeen Karaole, Stephen Olamigoke, and Johnson Omodusonu, were sentenced to federal prison for their roles in a COVID-19 fraud scheme that resulted in the theft of $520,910 in unemployment benefits from various state and federal unemployment programs. The trio used stolen personally identifiable information to file false
Fraud
Florida Representative Vern Buchanan and Representative David Schweikert, Chair of the Oversight Subcommittee on Ways and Means, have introduced the Digital Evaluation for Tax Enforcement and Compliance Tracking Act (DETECT Act), which aims to empower the Internal Revenue Service (IRS) to utilize emerging artificial intelligence (AI) tools to detect tax
Fraud
A panel of lawyers will hear a disciplinary case against John Pauciulo, a former partner at Eckert Seamans, this week, amid plans to double the cash sent to investors in the Philadelphia-based Par Funding scam. The scheme, led by founder Joseph LaForte and his associates, collected over $500 million from
Fraud
The Durban High Court case of former eThekwini mayor Zandile Gumede and her 21 co-accused has led to a disagreement between the State and the defence on how a previous witness established the number of households that needed to be serviced in a R320 million Durban Solid Waste tender deal.
