Fraud

Who will pay for the UK’s multi-billion corporate tax refund? We all will

Big businesses are exploiting a gap between UK and European law in an attempt to claw back up to £55bn. That’s money we need for hospitals, care and schools<p>Imagine you are presented with a brilliant new wheeze to reclaim your taxes from more than 40 years ago: taxes that have long ago been spent on …

Tax Preparation

Alabama woman who allegedly faked cancer to get cash via GoFundMe faces federal charges

Jennifer Cataldo faces 15 federal charges along with state charges.<p>An Alabama woman now faces federal fraud charges almost a month after she was …

Bank Fraud

La Jolla and Carlsbad women among six accused in $22 million insurance fraud scheme

Six people, including two sisters from La Jolla and Carlsbad, face insurance fraud charges in Orange County for an alleged $22 million drug-testing …

San Diego

Contactless payment fraud soars to £7m

<b>The amount of money stolen from contactless bank cards and mobile devices has soared, it has emerged.</b><p>Almost £7m was taken in 2016, compared to £2.8m in 2015, according to Financial Fraud Action UK.<p>In the same period, contactless spending rose from £7.75bn to £25.2bn.<p>A judge recently slammed the …

UK News

Wells Fargo Turns Up Heat in Broker Hiring (WFC, MS)

Wells Fargo & Co. (WFC) is increasing its signing bonuses for well-connected brokers just as Morgan Stanley (MS) and other big banks are scaling back …

Former Property Wars Star Scott Menaged Arrested After Fraud Investigation

<b>Scott Menaged</b>, who starred on Discovery Channel's former show <i>Property Wars</i>, has been arrested for wire fraud and other charges following a Department …

Corruption

Childcare director jailed for four years over $3.6m of fraudulent benefit claims

Lawyers for Melissa Jade Higgins, who was convicted of 81 offences in November, have filed a motion of intention to appeal<p>A NSW childcare director who bought a pool, expensive car and house with $3.6m worth of fraudulently obtained federal government payments has been sentenced to at least four …

Child Care

Is Malta now Europe's 'pirate base' for tax?

<b>"Offshore", "tax haven" and more recently "Panama in the EU" are labels that Malta has done its best to shake off.</b><p>But when a team of journalists declared that the tiny Mediterranean island was a "pirate base for tax avoidance", it sent ripples of concern across the EU.<p>Malta currently holds the …

Migration

Prosecutors: Ex-NFL player is the victim of $4.5M fraud

A money manager stole more than $4.5 million over nearly a decade from an unnamed former NFL player who played several years for the Indianapolis …

Corruption

'Google paid just £36.4 million in tax on UK sales of more than £6 billion. What made this possible? A government not tackling tax avoidance'

<i>Catherine West is the Labour candidate for Hornsey & Wood Green, in London, in the 2017 General Election. She is also Labour's foreign affairs spokesperson.</i><p>In 2015, Google paid back taxes of £130 million to the Exchequer for the previous 10 years, a figure roundly considered trivial in comparison …

Taxes

Finance Minister Bill Morneau vows to close ’unfair’ tax loopholes

Canada's finance minister denounced "unfair" tax loopholes on Thursday and put Bay Street on notice that the Liberal government is committed to …

Canadian News

Data Mining to Find Tax Cheaters - Bloomberg

Driven by fear of prison and scandal, tens of thousands of Americans who hid money offshore have taken an amnesty deal offered by the U.S. Internal …

United States

Cristiano Ronaldo could follow in Lionel Messi’s footsteps — by getting charged with tax fraud

Lionel Messi and Cristiano Ronaldo may be rivals, but it appears now they might have the same opponent — the Spanish government.<p>A day after Spain’s Supreme Court upheld Messi’s 21-month prison sentence for tax fraud, news broke that Ronaldo may be facing similar charges, according to Spanish …

Soccer

UK gamblers rack up record losses as crackdown on industry looms

Government review into gambling industry expected to be published after the election<p>The losses accumulated by British gamblers hit a record high of …

Court rules Wells subject to penalty on foreign tax credits

NEW YORK – A federal court has ruled that Wells Fargo is liable for a negligence penalty in a tax case that involved foreign tax credits, but the bank prevailed in another part of the case that could mute any payment.<p>The case involves Structured Trust Advantaged Repackaged Securities, or …

Wells Fargo

Feds Shut Down Alleged Scam Promising Student Loan Relief & Forgiveness

A federal court has shut down a Florida-based operation that charged customers $1,200 up front and $50/month with allegedly false promises of getting …

Debt Management

Barcelona express Messi support after lost appeal in tax fraud case

The Argentine forward had an appeal against a suspended jail term denied on Wednesday, but his employers at Camp Nou continue to support their man<p>Barcelona have expressed their support for Lionel Messi following the Spanish Supreme Court's decision to reject his appeal against a suspended 21-month …

Soccer

Ad Fraud: As Tools Evolve, So Do the Schemes

Fears about ad fraud have been building as the methods for perpetrating fraud become more sophisticated. At the same time, the industry remains …

Jailed dentist Mark Walewski ordered to pay back £360K

<b>A dentist who was jailed for defrauding the NHS out of hundreds of thousands of pounds over six years has been ordered to pay £360,000 in compensation.</b><p>Mark Walewski, 69, who previously ran the New Dental Surgery in Hindhead, Surrey, admitted four counts of fraud.<p>He made more than £222,000 charging …

San Francisco fund manager pleads guilty to fraud conspiracy

NEW YORK (Reuters) - A San Francisco investment fund manager pleaded guilty on Thursday to conspiring to defraud investors by fabricating an impressive investing track record, New York federal prosecutors announced.<p>Nicholas Mitsakos, who ran a fund called Matrix Capital Markets, pleaded guilty to …

Corruption

Senator tarred 'Clouseau' over fraud case

A $165 million alleged tax fraud has triggered a heated row during a Senate hearing, at one stage prompting Finance Minister Mathias Cormann to label …

Government

Arista Notches Another Win Versus Cisco, Says Wells Fargo

Shares of networking equipment vendor <b>Arista Networks</b> (ANET) are up $2.60, or 2%, at $146.88, after <b>Wells Fargo</b>’s <b>Jess Lubert</b> this afternoon issued a …

Patents

Petrofac executive suspended amid fraud probe

<b>Shares in oilfield services firm Petrofac have dived almost 30% after it suspended its chief operating officer Marwan Chedid amid a fraud inquiry.</b><p>The Serious Fraud Office is probing the firm over allegations of "bribery, corruption and money laundering" relating to oil contractor Unaoil.<p>Petrofac …

Corruption

GM is latest automaker accused of diesel emissions cheating

General Motors is the latest automaker to be accused of designing a diesel engine that can cheat on emissions testing.<p>A civil lawsuit filed in federal court in Michigan on Thursday claims the diesel versions of the Chevrolet Silverado and GMC Sierra pickups produce higher levels of nitrous oxide …

S&P Dow Jones Indices

One in five ad-serving websites is visited exclusively by fraud bots

In web advertising, bots can be more lucrative than people<p>A growing part of the internet is devoted entirely to fraudulent advertising. According to a new report by White Ops, ad-fraud sites make up roughly 20 percent of ad-serving sites on the web, despite having no human traffic whatsoever. The …

Advertising

'Soup Nazi' Tax Evasion Case Holds Lessons For Every Business

Robert N. Bertrand, CFO of the Soupman, Inc. chain made famous with Seinfeld’s Soup Nazi character, has been indicted for tax crimes. The indictment alleges 20 counts of failure to pay Medicare, Social Security, and federal income taxes. Soupman, Inc. is based in Staten Island, and licenses the …

Social Security

Here's Why Wells Fargo's Earnings Have Dropped Two Years in a Row

It’s not as simple as you might think.<p>For years after the financial crisis, <b>Wells Fargo</b> (NYSE:WFC) found itself in a coveted position. By avoiding the …

Stocks

Barcelona football player Messi loses appeal in tax fraud trial

Spain's Supreme Court on Wednesday rejected an appeal by Barcelona football star Lionel Messi and stood by a Catalan regional court's 21-month prison sentence for tax fraud, court documents showed.<p>The five-times World Player of the Year is unlikely to go to prison, however.<p>Messi and his father …

Soccer

Ad fraud loss slides to $6.5 billion worldwide

Digital ad sales are up and vendors are clamping down on fraud schemes designed to siphon cash from the industry.<p>Digital advertising fraud remains a …

Advertising

World is plundering Africa's wealth for 'billions of dollars a year'

Research by campaigners claims aid and loans to the continent are outweighed by financial flows to tax havens and costs of climate change mitigation<p>More wealth leaves Africa every year than enters it – by more than $40bn (£31bn) – according to research that challenges “misleading” perceptions of …

Geography