Items Tagged with 'FBI'

ARTICLES

  • SEC, FBI reportedly investigating Live Well Financial collapse

    Creditors' court documents say authorities are looking into defunct lender and its CEO
    Trouble continues to brew for Live Well Financial, the forward and reverse mortgage lender that unexpectedly went bust last month, as court documents reveal that authorities are looking into the lender. According to documents filed by Live Well’s creditors, the SEC, the U.S. Attorney's Office in the Southern District of New York, and the FBI’s Bank Fraud Division have all been poking around for information on Live Well’s dealings.
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  • Former Equifax manager sentenced to eight months house arrest for insider trading

    Fined $50,000 and forced to forfeit $75,979 for taking advantage of knowledge of the Equifax breach
    Former Equifax Manager Sudhakar Reddy Bonthu was just sentenced to eight months house arrest following his guilty plea admitting he used non-public information to profit off of the credit reporting agency’s massive data breach. Last year, just before Equifax announced that it had exposed the data of more than 148 million American consumers to hackers, Bonthu bought 86 “put” options in Equifax stock that expired on September 15, 2017, ahead of the subsequent drop in Equifax’s stock value in the wake of the breach.
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  • Feds arrest dozens in sweeping action against hackers targeting wire transfers

    Including those targeting real estate transactions
    The federal government announced Monday that it conducted a massive sweep and arrested nearly 75 people who allegedly participated in schemes designed to intercept and hijack wire transfers from businesses and individuals, including those involving real estate transactions. The operation also resulted in the seizure of nearly $2.4 million, and the disruption and recovery of approximately $14 million in fraudulent wire transfers.
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  • FBI, SEC reportedly looking into PACE lender Renovate America

    WSJ reports on inquiries, company responds
    In a lengthy release published in response to the WSJ article, Renovate America confirmed that the company has spoken to both the FBI and SEC about the the company’s business, but the company said that it had been repeatedly assured by federal law enforcement authorities that it is not the subject or target of any investigation.  
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  • Feds seek fugitive who fled after being convicted in $16 million mortgage fraud scheme

    Oscar Ortiz charged with failing to appear for sentencing
    Nearly a year ago, Oscar Ortiz, a 53-year-old contractor from the Houston area, pleaded guilty to conspiring to commit bank, mail and wire fraud for his role in a $16 million mortgage fraud scheme. Ortiz was due in court this week to receive his sentencing for that conviction, but when his sentencing hearing began, Ortiz was nowhere to be found.
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  • Senator Warren calls DOJ's financial crisis response an "abysmal failure"

    Wants to know why executives got off "scot-free"
    Thursday, Sept. 15, 2016 marked the eight-year anniversary of Lehman Brothers declaring bankruptcy, sending shockwaves through the economy and sending the U.S. into a recession. Sen. Elizabeth Warren, D-Mass., used the anniversary of the “failure of the fourth-largest U.S. investment bank” to loudly question again why individuals were not held responsible for the conduct that led to the financial crisis, and this time she did it armed with some disconcerting new information.
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