fraud

Trevor Milton, founder and former chairman of Nikola Corp., was handed down three federal fraud charges Thursday morning for his alleged involvement in misleading investors and retailers about Nikola's true equipment capabilities.  On this episode of Freightonomics, Zach Strickland and Anthony...

As U.S. Attorney Audrey Strauss began citing the numerous lies alleged against Nikola founder Trevor Milton during a Thursday news conference to discuss the grand jury indictment, she utilized an apt phrase given his former company's position as a green-vehicle maker. "Today's criminal charges...

The owners of three purported Georgia-based trucking companies are facing wire fraud and theft of government property charges after federal prosecutors claim the couple set up shell companies to obtain $364,200 in funds through the U.S. Small Business Administration's Paycheck Protection Program (...

The government is now questioning Holmes's lawyers why their legal draft didn't address the mental health defense they've been appealing to earlier. What Happened: In Elizabeth Holmes' trial, for her fraudulent business practices at the blood-testing startup...

A Missouri woman was sentenced to six years and seven months in federal prison for embezzling more than $700,000 from the family-owned trucking company and farm where she worked. Once released from prison, Christen Diane Schulte, 35, of Washington, Missouri, will serve five years of supervised...

Cryptocurrency project DeFi100 (CRYPTO: D100) has informed its investors that it defrauded them of their funds. What Happened: According to a Saturday tweet by a cryptocurrency analyst, DeFi100 announced that it scammed its users in the following unkind and inelegant message: “We...

Sameer Ismail, the chief compliance officer at crypto finance firm Uphold, has been fired amid accusations of fraud. What Happened: According to a Friday Coindesk report, Uphold said Ismail “wrongfully and fraudulently misdirected” corporate and user funds totaling...

The former president of Pilot Co. wants a federal judge to recuse himself from overseeing the retrial of a fuel rebate fraud case against him and two of his former staffers and is also seeking to have his case moved from Tennessee to another state. Mark Hazelwood was the highest-level executive of...

A former executive at Netflix Inc (NASDAQ: NFLX) faces up to 20 years in prison after a jury in San Jose, California, found him guilty of fraud. Michael Kail was Netflix's vice president in charge of internet technology, Fox2 KTVU in the San Francisco area reported. Prosecutors accused Kail of...

Online payment fraud is expected to increase to more than $20 billion in 2021, according to a new report from Juniper Research. Fraud reached $17.5 billion in 2020. The firm said e-commerce is making it easier for thieves to target consumers, especially as online sales grow at merchants that are...

Four people, two from Utah and California, have been sentenced for their role in an $8 million telemarketing fraud scheme that promised investors that their business could extract gold from dirt. How It Unfolded: According to the U.S. Department of Justice, beginning in 2014 ...

Turkish police detained 62 people in an investigation related to the cryptocurrency exchange Thodex' fraud allegation earlier today. What Happened: According to Turkey's state-owned news agency Anadolu, there are 78 people involved in the Thodex case, but only 62 were...

SPACs are under attack. The Wall Street Journal today rounded up the short-selling activity surrounding special purpose acquisition vehicles, the path to going public that's in vogue these days. About 250 SPACs were launched in the U.S. last year and they've gotten hotter this year, drawing...

The United States Internal Revenue Service said in a statement on Monday it had identified multiple malicious actors taking advantage of the novel coronavirus (COVID-19) pandemic to make a profit. What Happened The IRS noted that the criminal activities extend beyond scamming taxpayers...

There’s nothing new about Nigerian prince scam emails – they usually follow the same pattern of someone needing help moving millions of dollars from an African country and the promise of a sizable cut of the money to the unfortunate victim. If you read through those emails, it is often...