In my post about illegal immigration, a commenter pointed out that I was lucky to avoid greater financial consequences from my “car accident.” It turns out that the maneuver where a car accelerates from a stop and then suddenly slams on the brakes is a common insurance scam. This tactic is known as the “sudden [...]read moreCar Insurance Fraud As A Side Hustle Is Not Worth The Money
After the collapse of Farfetch and its rescue by Coupang at the end of 2023, several shareholders felt they had been wronged. Two of them are now suing the company, accusing it of misrepresenting the difficulties of its business. New elements have recently been added to the proceedings. Shutterstock According to The Fashion Law, the [...]read moreShareholders sue over accusations of fraud
By Bloomberg Published Jun 17, 2024 Adidas AG is investigating allegations of corruption in China after receiving an anonymous letter exposing potential compliance violations by some employees. Shutterstock The German sportswear company is working with external legal counsel after receiving the letter on June 7, it said in an emailed statement. It’s the latest blow [...]read moreAdidas opens fraud probe in China after whistleblower letter
With the number of instances of wire fraud continuing to rise, many victims are turning to court to seek damages after a large portion of their life savings or business liquidity was stolen by scammers. According to a report published Thursday by wire fraud prevention firm CertifID, real estate agents, brokers and title companies are [...]read moreReal estate firms may be on the hook for wire fraud losses: CertifID
Digital fraud detection company BioCatch has a new majority shareholder: U.K-based private equity firm, Permira, is acquiring shares in the company “primarily” from existing investors including Bain Capital, Maverick Ventures, and Tech Opportunities, in a secondary market transaction that values BioCatch at $1.3 billion. Existing shareholders Sapphire Ventures and Macquarie Capital are also increasing their [...]read moreDigital fraud detection startup BioCatch hits $1.3B valuation as Permira buys majority stake
At Inman Connect Las Vegas, July 30-Aug. 1 2024, the noise and misinformation will be banished, all your big questions will be answered, and new business opportunities will be revealed. Join us. The leader of a five-person team that originated billions in loans for a New Jersey-based mortgage lender has been charged, along with one [...]read moreTop New Jersey Loan Mortgage Originator Charged with Fraud
Two former New Jersey-based mortgage loan originators have been charged with conspiracy to commit bank fraud by the U.S. Attorney’s Office, District of New Jersey according to an announcement by the U.S. Department of Justice (DOJ) and U.S. Attorney Philip Sellinger. Christopher Gallo has been recognized as a top-producing loan originator, at one point being [...]read moreDOJ charges one of America’s top LOs in alleged mortgage fraud scheme
Editor in Chief Sarah Wheeler sat down with Ike Suri, chairman and CEO of FundingShield, to talk about rising fraud risks, what keeps him up at night, and why AI is still far from helpful in his business of protecting clients. Sarah Wheeler: FundingShield just released its Q1 Fraud report, which showed that nearly half [...]read moreFundingShield’s Ike Suri on the limits of AI in fighting fraud
Wire fraud prevention firm CertifID and big four title firm Old Republic have entered into a strategic agreement to prevent mortgage payoff fraud, according to an announcement on Thursday. Mortgage payoff fraud occurs when a title company mistakenly sends payoff funds to a fraudulent bank account after receiving wire instructions that appear to be from [...]read moreCertifID and Old Republic partner to prevent fraud
Charles “Todd” Hill, 58, starred on “Flip It to Win It” in 2013. He has been ordered to pay $9.4 million in restitution for committing real estate fraud. At Inman Connect Las Vegas, July 30-Aug. 1 2024, the noise and misinformation will be banished, all your big questions will be answered, and new business opportunities will [...]read moreEx-HGTV Star Convicted Of Fraud Sentenced To 4 Years In Prison