Tag: Securities fraud
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$100M New Jersey deli fraudster James Patten sentenced to 21 months in prison
The notorious New Jersey deli fraud case led to losses of more than $5 million for victims that included two U.S. universities.
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Scam victims can owe taxes on stolen money. A bill in Congress could offer relief
A bill in the House would restore a pre-2018 rule that generally allowed a tax deduction for theft losses and would add other relief for fraud victims.
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Inside the Chinese fraud rings stealing billions from banks and retailers
Chinese organized crime groups are making as much as $1 billion annually in tap-to-pay fraud schemes targeting retailers and banks.
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Ex-Fed advisor gets over three years in prison for lying about China ties
The case marks one of the most prominent U.S. prosecutions alleging Chinese intelligence targeting of U.S. institutions, as Trump intensifies its pursuit of foreign economic espionage.
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Feds seek lower prison term for $100 million New Jersey deli fraudster — but some reasons why are hidden
James Patten is the third person who will be sentenced in the stock manipulation scheme related to Hometown International, a company that owned just one deli.
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House lawmakers approved a bipartisan bill to protect older adults from financial fraud. Here’s what to know
The Financial Exploitation Prevention Act of 2025 is aimed at preventing adults age 65 or older or those with disabilities from losing their money to fraud.
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Imposter scams led fraud reports to the FTC for fifth straight year in 2025, causing $3.5 billion in losses
The amount lost to imposter scams is part of $15.9 billion in total fraud losses reported to the Federal Trade Commission in 2025
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Binance to stop providing services to European clients after failing to obtain license: Financial Times
All crypto companies have to obtain a license under the bloc’s Markets in Crypto-Assets Regulation by July 1, or risk penalties.
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Identity theft victims face ‘unconscionable’ IRS delays, report says
Victims currently face wait times of almost two years to resolve their cases, according to the National Taxpayer Advocate.
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