Stamford Business Owner Sentenced for PPP Fraud
A Stamford business owner has been sentenced to more than three years in prison for a Paycheck Protection Program fraud scheme that involved more than $4 million in loans from M&T Bank and Citibank.
Manchester Resident Receives 14 Year Sentence in Fraud Scheme
A Manchester resident who led a $5 million lottery and romance fraud scheme has been sentenced to 14 years in prison.
Settlement for Company Involved in Mortgage Education Fraud Scheme
The owner of a California-based mortgage education course provider has agreed to cooperate with state agencies investigating loan originators who allegedly avoided taking required classes to maintain their mortgage licenses. Danny Yen, owner of Real Estate Educational...
Stamford Man Pleads Guilty to PPP Fraud
A Stamford man pleaded guilty in federal court last week to providing false information to banks and receiving more than $4 million in Paycheck Protection Program loans.
The Most Popular Banking and Lending Stories of 2019
2019 ends today, and what a year it was for Connecticut lenders. Here are the five real estate stories that you, our readers, read the most this year.
Financial Fraud More Fraught When Perpetrator is Known
When it comes to identity theft and other financial fraud, the perpetrator is sometimes close to home. Experts say theft by a family member or acquaintance is vastly underreported and is a difficult problem to solve.
How Banks Can Help Protect Seniors’ Homes
Elder financial abuse is “widespread and damaging,” with the average victim losing $41,000, and almost one in 10 losing more than $100,000. Sadly, the culprits are most often family members, but banks have ways to protect their older clients.
Ohio Woman Pleads Guilty to ATM Skimming in Fairfield County
An Ohio woman has pleaded guilty in federal court to using skimming equipment on ATMs to read customers’ card numbers, including some in Connecticut.
Colchester Woman Pleads Guilty to Stealing from Mystic Real Estate Firm
The bookkeeper for a Mystic developer and property owner has admitted to embezzling over $400,000 from the company.
Man Indicted for Fraud, Embezzlement
A New York man who ran a Connecticut-based nonprofit designed to find support and resources for people with chronic pain issues has pleaded guilty to embezzling about $1.5 million from the organization.
Marina Owner Admits Lying to the SBA to Receive Disaster Loan
An Old Saybrook man has waived his right to be indicted and pleaded guilty before U.S. District Judge Michael P. Shea in Hartford to one count of making false statements for the purpose of obtaining a Small Business Administration loan.
Waterbury Man Found Guilty of Fraud and Money Laundering
A Waterbury man has been found guilty of 21 fraud and money laundering offenses stemming from an investment scheme that defrauded victims of approximately $1.5 million.
Credit Card Fraudster Sentenced for Violating Supervised Release
A Hartford man was sentenced in Hartford yesterday to 14 months of imprisonment for violating the conditions of his supervised release.
Caribbean Real Estate Dream Turns into $100M Nightmare
Ever fantasize about fleeing the winter cold and getting in on the ground floor of a beachfront real-estate deal in which you double your money in a few years? If you’ve dreamed that dream, here’s how it could turn nightmarish.
Tobacco Wholesaler Admits Role to Defraud State of Connecticut
Rishi Malik, 46, of Fairfield, plead guilty today in New Haven federal court to charges related to role in a conspiracy to defraud the state of Connecticut of millions of dollars in taxes due on tobacco products imported into the state.
Father, Son Plead Guilty to $27M Health Care Scam
A father and son from California have pleaded guilty for their roles in a scheme that defrauded more than $27 million from Affordable Care Act programs in at least 12 states, including Connecticut.
Court Overturns Former Senator’s Campaign Fraud Convictions
The Connecticut Supreme Court on Friday overturned the campaign fraud convictions of former Bridgeport state Sen. Ernest Newton II and ordered a new trial for the outspoken Democrat
Study: Almost All Financial Service Firms Experience Some Form of Fraud
Nearly all financial service firms have experienced 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.
Florida Man Sentenced for Role in Stock ‘Pump and Dump’ Scheme
William Lieberman, 42, of Boca Raton, Florida, was sentenced Friday to 84 months of imprisonment, followed by three years of supervised release, for his role in a securities fraud scheme.
Digital Channel Fraud Mitigation: Evolving to Mobile-First
Digital channels are very attractive to financial institutions because the online and mobile channels enable FIs to offer products and services much more cheaply than in a branch or contact center environment.
