Sam Bankman-Fried, the owner of the failed cryptocurrency exchange FTX, has been denied bail after his arrest in the Bahamas at the request of the U.S. government on Monday. In a hearing that lasted more than three hours on Tuesday, Chief Magistrate Joyann Ferguson-Pratt ruled that Bankman-Fried’s $250,000 bail request would be denied on the basis that Bankman-Fried…
FTX Founder Sam Bankman-Fried Denied Bail in Bahamas After Arrest, Faces up to 115 Years in Jail
December 14, 2022
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AmericasBusiness & MarketsCompaniesCrime and IncidentscryptocurrencyeconomyFTXMarketsSam Bankman-FriedUSUS Newswire fraudWorld
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FTX Founder Bankman-Fried Denied Bail in Bahamas After Arrest, Faces Up to 115 Years in Jail
December 14, 2022
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AmericasBusiness & MarketsCompaniesCrime and IncidentscryptocurrencyeconomyFTXMarketsSam Bankman-FriedUSUS Newswire fraudWorld
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Sam Bankman-Fried, the founder and former CEO of the failed cryptocurrency exchange FTX, has been denied bail after his Dec. 12 arrest in the Bahamas at the request of the U.S. government. In a hearing that lasted more than three hours on Dec. 13, Chief Magistrate Joyann Ferguson-Pratt denied Bankman-Fried’s $250,000 bail request, citing a heightened flight risk…
Florida State Rep. Harding Indicted for Wire Fraud, Money Laundering, and Making False Statements
Florida state Rep. Joe Harding has been indicted on charges of wire fraud, money laundering, and making false statements related to COVID-19 relief funding. According to the Dec. 7 Indictment, the United States Department of Justice has indicted Harding on two acts of wire fraud by participating in a scheme to defraud the Small Business Administration…
Texas Couple Accused of Defrauding Paycheck Protection Program for $684,000
November 26, 2022
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2020 CARES ActCrime and IncidentsLocal NewsPaycheck Protection ProgramRegional-Local NewsTexasUSUS Newswire fraud
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A Texas couple is accused of defrauding the Paycheck Protection Program for more than $684,000. Patrick Kasong Muyej, 48, and Chisanga Mable Scott, 43, were indicted on one count each of conspiracy to commit wire fraud, U.S. Attorney for the Northern District of Texas Chad E. Meachum announced Monday in a news release. In March…
Man Gets Over 8 Years in Prison for $6.6 Million COVID Loan Fraud
November 15, 2022
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COVID reliefDepartment of Justice (DOJ)Local NewsPaycheck Protection ProgramRegional NewsRegional-Local NewsSouthern CaliforniaUSwire fraud
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A Riverside County man was sentenced Nov. 14 to 102 months in federal prison for falsely obtaining over $6.6 million in COVID-19 small business relief funds. Muhammad Atta, 39, of Corona, was also ordered by the judge to pay about $6.64 million in restitution. “It’s important that the sentence imposed today sends the message that…
Former Louisiana State Senator Charged With Wire Fraud
Former Louisiana state Sen. Karen Carter Peterson, a Democrat, was charged with one count of wire fraud by federal prosecutors on July 14 for her alleged role in a scheme involving using campaign funds to fund her gambling addiction. Peterson served as Louisiana state Senator for the 5th District from 2010 until 2022 and as the Chair…
Miami Man Loses $6 Million Home, Freedom in $115 Million Scam Involving Baby Formula
By David J. Neal From Miami Herald A 7,700-square-foot, four-bedroom, four-bathroom house and three units of an Aventura office building are the list of losses for a Golden Beach man after a massive commercial fraud that involved infant formula, eye-care products, and other products regulated by the FDA. Johnny Grobman, 48, won’t need the home…
Former Public Works Director in SF Pleads Guilty to Wire Fraud
A former San Francisco official pleaded guilty on Jan. 6 to a string of bribes and corruption during his years in office. His case is part of a larger investigation into the city’s corruption. Former San Francisco Public Works Director Mohammed Nuru officially pleaded guilty in federal court to honest services wire fraud. The 59-year…
China-Based Gree Electric Fined $91 Million for Failure to Report Dangerous Dehumidifiers
China-based Gree Electric and two of its subsidiaries, including one in the U.S., have agreed to pay $91 million to resolve criminal charges for not reporting to the Consumer Product Safety Commission (CPSC) that their faulty dehumidifiers could catch on fire. According to a court filing, Gree executives knew the defective dehumidifiers failed to meet…
Head of NYPD Sergeant Union Resigns After FBI Raids Office, Home
October 6, 2021
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Ed Mullins, the head of the NYPD’s Sergeants Benevolent Association, has resigned from his role just hours after FBI agents raided his home and the group’s Manhattan headquarters. Dozens of federal agents were seen carrying boxes out of the union’s Manhattan headquarters and loading them into a van on Tuesday morning as part of a “law enforcement…
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