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Tag: Wire Fraud

Another Huge Cash-Out Scheme Revealed

(Bank Info Security) Federal authorities have charged eight suspects in yet another ATM cash-out and cybercrime scheme that involved online account takeovers and prepaid card compromises. So far, four arrests have been made in the case, which also involved fraudulent ATM withdrawals and wire transfers to overseas accounts, as well as identity theft, in some…
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Chinese Citizen Sentenced in US for Cyber Piracy

(DFI News) Xiang Li, age 36, of Chengdu, China, was sentenced to 12 years in prison for conspiracy to commit wire fraud and criminal copyright infringement based on cyber theft and online piracy of over $100 million worth of sensitive, industrial-grade software and confidential data stolen from the internal server of a cleared defense contractor.…
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Con man exposed after Justin Bieber ruse

(CNN) — Waleed Ahmed grins for the camera, a sly smile on his face as he poses in front of a black Porsche parked on the street. At first glance, he looks like any other young guy hamming it up for an image to share with his buddies on Facebook. Yet looks can be deceiving.…
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Chinese seller of pirated software sentenced to 12 years in US prison

IDG News Service – The operator of a website that sold more than US$100 million worth of pirated software to customers worldwide was sentenced Tuesday to 12 years in a U.S. federal prison. Li Xiang, a 36-year old resident of Chengdu, China, was convicted of conspiracy to commit wire fraud and criminal copyright infringement for…
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With the FBI On Her Trail, Michele Bachmann Raises Money For Non-Existent Reelection Bid

(Politicususa) An FBI investigation into money laundering, wire fraud, and mail fraud has not stopped Rep. Michele Bachmann from continuing to raise money for a reelection campaign that she isn’t running. According to the University of Minnesota’s Smart Politics blog, Nearly two weeks after announcing she would not seek a 5th term from Minnesota’s 6th…
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Jury finds Rick Renzi guilty of some charges in corruption trial

TUCSON (AZ Central) – A federal jury on Tuesday found former Congressman Rick Renzi guilty on 17 of 32 felony charges brought against him, including conspiracy, wire fraud, extortion, racketeering, money laundering and making false statements to insurance regulators. The U.S. District Court jury returned its verdict on Renzi’s 55th birthday after nearly a month of trial.…
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Ex-Millennium Fund Manager Balboa’s Bond Fraud Trial Starts

(Bloomberg) Ex-Millennium Global Investments Ltd. portfolio manager Michael Balboa’s securities-fraud trial, in which he is accused of participating in a scheme involving Nigerian sovereign debt, began in federal court in New York. Balboa, who worked at Millennium from December 2006 to October 2008, was named in an indictment unsealed in March. He is charged with…
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