Articles Posted in Fraud

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Brooklyn DA Busts 32 Alleged Welfare Fraud Cheats: Nearly $1 Million in Fraud Alleged

Fraud is a broad term that refers to a variety of offenses involving dishonesty or “fraudulent acts”. In essence, fraud is the intentional deception of a person or entity by another made for monetary or personal gain.

Fraud offenses always include some sort of false statement, misrepresentation, or deceitful conduct. The main purpose of fraud is to gain something of value (usually money or property) by misleading or deceiving someone into thinking something which the fraud perpetrator knows to be false. While not every instance of dishonesty is fraud, knowing the warning signs may help stop someone from gaining any unfair advantage over your personal, financial, or business affairs.

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The pervasiveness of insurance fraud drives up costs for all consumers and costs the insurance industry billions of dollars each year. One authority estimates that the annual value of insurance fraud approaches $80 billion. Detecting insurance fraud is difficult because of the surreptitious nature by which the criminal perpetrates the fraud.

Depending on the specific issues involved, an alleged wrongful act may be handled as an administrative action or law enforcement may handle it as a criminal matter.

Generally, securities fraud occurs when someone makes a false statement about a company or the value of its stock, and others makes financial decisions based on the false information. Although the crime itself isn’t complicated, securities fraud can be particularly difficult to grasp if you lack an understanding of securities regulation. Below, you’ll find information on common forms of securities fraud and how to protect your assets.

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Bank of New York Melon Computer Tech Indicted for Identity Theft of 150 Employees and $1 Million Fraud

Identity theft and identity fraud are terms used to refer to all types of crime in which someone wrongfully obtains and uses another person’s personal data in some way that involves fraud or deception, typically for economic gain.

Unlike a robbery or burglary, identity theft often occurs without the victim’s knowledge. Most identity theft victims only find out after they see strange charges on their credit card statements or apply for a loan. While prevention is always the best policy, sometimes personal information is exposed through security breaches at banks or companies with which you do business. Thus, criminal identity theft can happen to even well-prepared consumers.

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Bagel Man Hides the Dough: H and H Bagels Owner Arrested for General Tax and Unemployment Insurance Tax Fraud

Insurance fraud occurs most often when an insured individual or entity makes a false or exaggerated insurance claim, seeking compensation for injuries or losses that were not actually suffered. Insurance fraud can also be committed upon customers, through 1) the sale of unlicensed or bogus insurance coverage to unsuspecting clients, or 2) an insurance broker or agent’s diversion or theft of insurance premiums paid by clients.

Insurance fraud refers to any duplicitous act performed with the intent to obtain an improper payment from an insurer. Insurance fraud is committed by individuals from all walks of life. Law enforcement officials have prosecuted doctors, lawyers, chiropractors, car salesmen, insurance agents and people in positions of trust. Anyone who seeks to benefit from insurance through making inflated or false claims of loss or injury can be prosecuted. The pervasiveness of insurance fraud drives up costs for all consumers and costs the insurance industry billions of dollars each year. One authority estimates that the annual value of insurance fraud approaches $80 billion. Detecting insurance fraud is difficult because of the surreptitious nature by which the criminal perpetrates the fraud.

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Under the law, white collar crime can describe a wide variety of crimes, but they all typically involve crime committed through deceit and motivated by financial gain. The most common white collar crimes are various types of fraud, embezzlement, tax evasion and money laundering. Many types of scams and frauds fall into the bucket of white collar crime, including Ponzi schemes and securities fraud such as insider trading. More common crimes, like insurance fraud and tax evasion, also constitute white collar crimes.

Fraud and financial crimes are a form of theft/larceny that occur when a person or entity takes money or property, or uses them in an illicit manner, with the intent to gain a benefit from it. These crimes typically involve some form of deceit, subterfuge or the abuse of a position of trust, which distinguishes them from common theft or robbery. In today’s complex economy, fraud and financial crimes can take many forms. The resources below will introduce you to the more common forms of financial crimes, such as forgery, credit card fraud, embezzlement and money laundering.

Many white collar crimes are frauds. Fraud is a general type of crime which generally involves deceiving someone for monetary gain. One common type of white collar fraud is securities fraud. Securities fraud is fraud around the trading of securities stocks, for example.

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Defendants ST, a Queens County resident, and International Mortgage Servicing Company (IMSC), a New Jersey limited liability company in which ST owns a half interest, were indicted by a New York County grand jury on 34 counts arising from an alleged scheme to steal millions of dollars through the imposition of allegedly inflated mortgages on Ocean House Center, a Queens County not-for-profit adult home for residents with mental disabilities.

On this appeal, defendants challenge New York County’s jurisdiction to prosecute five of these counts, each of which charges defendants with the class E felony of offering a false instrument for filing in the first degree; jurisdiction as to the remaining 29 counts, including the class B and C felonies of grand larceny in the first and second degrees, is uncontested. The challenged counts are based on defendants’ filing of allegedly false New York State and City tax returns, which did not reflect certain interest income derived from the mortgages held by IMSC on Ocean House.

Inasmuch as the evidence before the grand jury did not establish that defendants’ tax returns were either mailed from or received in Manhattan, or that defendants committed any other act in Manhattan establishing an element of the relevant offenses, the People relied on a theory of particular effect jurisdiction in order to establish venue in New York County with respect to these counts.1 This theory permits a criminal court of a particular county to exercise geographical jurisdiction, or venue, over an offense when even though none of the conduct constituting the offense occurred within that county such conduct had, or was likely to have, a particular effect upon such county or a political subdivision or part thereof, and was performed with intent that it would, or with knowledge that it was likely to, have such particular effect therein. Conduct constituting an offense has a particular effect upon a county when it produces consequences which, though not necessarily amounting to a result or element of such offense, have a materially harmful impact upon the governmental processes or community welfare of the particular county, or result in the defrauding of persons in such county.

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Have financial problems or hardships caused you to consider bankruptcy? Are harassing creditor calls, wage garnishments, frozen bank accounts, or the thought of losing your home weighing heavily on your mind?

If you are reading this page, you have probably been struggling to find a way to reduce your debts, but haven’t been successful in keeping creditors from hounding you. You may have considered bankruptcy before, but were hoping that you could work things out on your own. And, you may have even felt a little embarrassed to speak with someone about it…but don’t worry, you don’t have to do this alone.

With criminal debt settlement, a creditor oftentimes agrees to lower the outstanding debt of an eligible account by 30% or more, so you can pay off your debt.

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Under the New York Penal Law, a person is guilty of identity theft in the third degree when he or she knowingly and with intent to defraud assumes the identity of another person by presenting himself or herself as that other person, or by acting as that other person or by using personal identifying information of that other person, and thereby: 1. obtains goods, money, property or services or uses credit in the name of such other person or causes financial loss to such person or to another person or persons; or 2. commits a class A misdemeanor or higher level crime. Identity theft in the third degree is a class A misdemeanor.

Throughout New York City, from Manhattan and the Bronx to Queens and Brooklyn, prosecutors have seen an enormous increase in crimes relating to Identity Theft pursuant to New York Penal Law sections 190.78, 190.79 and 190.80. This increase in related crimes has resulted in extensive investigations and indictments of single individuals as well as global organizations such as the Western Express Cybercrime Group and its members. As a former Manhattan prosecutor who was the most senior ADA assigned to the Identity Theft Major Case Section upon that unit’s creation, I not only have extensive experience prosecuting and building cases against those accused of Identity Theft crimes, but representing those charged with these offenses as well. Before discussing scenarios involving these offenses, this entry will deal specifically with the crime of Identity Theft in the Third Degree (NY Penal Law 190.78) and the relevant underlying definitions. Future entries will address Identity Theft in the Second (NY Penal Law 190.79) and First Degree (NY Penal Law 190.80).

Under the New York Penal Law, offenses involving theft of identity; definitions. 1. For the purposes of sections 190.78, 190.79 and 190.80 of this article “personal identifying information” means a person’s name, address, telephone number, date of birth, driver’s license number, social security number, place of employment, mother’s maiden name, financial services account number or code, savings account number or code, checking account number or code, brokerage account number or code, credit card account number or code, debit card number or code, automated teller machine number or code, taxpayer identification number, computer system password, signature or copy of a signature, electronic signature, unique biometric data that is a fingerprint, voice print, retinal image or iris image of another person, telephone calling card number, mobile identification number or code, electronic serial number or personal identification number, or any other name, number, code or information that may be used alone or in conjunction with other such information to assume the identity of another person. 2. For the purposes of sections 190.78, 190.79, 190.80, 190.81, 190.82 and 190.83 of this article: a. “electronic signature” shall have the same meaning as defined in subdivision three of section three hundred two of the state technology law. b. “personal identification number” means any number or code which may be used alone or in conjunction with any other information to assume the identity of another person or access financial resources or credit of another person.

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Fraud is stealing, which is a crime, and it is a crime that affects everyone. When people commit health care fraud crimes, those actions contribute to rising costs of health care. Reducing health care fraud and abuse can help contain rising health care costs.

The most common kind of fraud involves a false statement, misrepresentation or deliberate omission that is critical to the determination of benefits payable. The most common examples of health care fraud include, but are not limited to:

1.)Billing for services, procedures and/or supplies that were not provided;

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Westchester County District Attorney Janet DiFiore, New York State Taxation and Finance Acting Commissioner Jamie Woodward and Yonkers Police Commissioner Edmund Hartnett announced that a yearlong investigation utilizing a multi-agency, multi-jurisdiction undercover operation carried out by the New York State Office of Tax Enforcement, Yonkers Police Department, New York City Police Department and Westchester County District Attorney’s office in which sales and purchases of more than nine million unstamped cigarettes resulted in a twenty one million dollar New York State cigarette excise tax stamp fraud and 21 individuals being arrested.

Also uncovered in the course of the investigation, an individual was arrested in the possession of five suspected homemade explosive devices, fourteen rifles, a pump action shotgun and thousands of rounds of ammunition.

On multiple occasions the defendants spent over sixteen million dollars purchasing the unstamped cigarettes from undercover New York State Tax Investigators.

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