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Generally, scams start with casual inquiries from random people over the phone or through emails and social media invites, according to Christopher McGlynn, a CFP with Compacom. They can appear to ...
In early 2019, in the Kapa investment scam, the Philippine government shut down Kapa-Community Ministry International and its self-declared pastor, Joel Apolinario. [citation needed] In January 2020, the SEC filed a federal case against a Californian couple, Jeff and Paulette Carpoff, charging them of organizing a $910 million Ponzi scheme.
Fraudsters sometimes pay others -- for example, actors to pose as ordinary people turned millionaires, social media influencers, and celebrities-- to tout an investment on social media or in a ...
Securities fraud is becoming more complex as the industry develops more complicated investment vehicles. In addition, white collar criminals are expanding the scope of their fraud and are looking outside the United States for new markets, new investors, and banking secrecy havens to hide unjust enrichment .
Dennis Kozlowski, former CEO of Tyco International, convicted in 2005 of fraud and other crimes related to his receipt of $81 million in unauthorized bonuses, the purchase of art for $14.725 million and the payment by Tyco of a $20 million investment banking fee to a former Tyco director.
Social media is full of scammers promising guaranteed returns on investment, and consumers lost billions of dollars to them last year. Troy Gochenour, 50, of Columbus, Ohio, was conned out of ...
The U.S. Securities and Exchange Commission (SEC) has said that "these fraudulent schemes involve the purported issuance, trading, or use of so-called 'prime' bank, 'prime' European bank or 'prime' world bank financial instruments, or other 'high yield investment programs.' (HYIP's) The fraud artists ... seek to mislead investors by suggesting ...
The videos are being used in investment scams, such as romance swindles, and in other ways. ... Scammers can use AI technology to duplicate voices and trick people into sending money or revealing ...