Construction Fraud
US investigates how US$372 million vanished in hack after FTX bankruptcy
Federal prosecutors are investigating an alleged cybercrime that drained more than US$370 million from cryptocurrency exchange FTX hours after it filed for bankruptcy last month. The US Department of Justice (DoJ) has launched a criminal investigation into the stolen...
Burnaby RCMP issues alert about ‘virtual kidnapping’ scams targeting international students
Burnaby RCMP is issuing a public alert about virtual kidnapping scams, after a recent incident that targeted an international student living in Burnaby. The student, who is a Chinese national, was contacted by phone in late August by two people who told him they were...
Two top executives plead guilty to fraud in FTX case
Top FTX executives close to Sam Bankman-Fried, Caroline Ellison and Zixiao "Gary" Wang, have pleaded guilty to fraud and are cooperating with prosecutors. The pair were convicted "in connection with their roles in the fraud that contributed to FTX's...
Six Indians charged in multimillion-dollar tech scam in US, Canada
New York: Five Indian men and a woman have been charged in connection with a transnational technical support scam that targeted more than 20,000 victims, many of them elderly, in the US and Canada. Gagan Lamba, 41, and Harshad Madaan, 34, from New Delhi; Jayant...
Five contractors charged in Canadian social housing renovation fraud
In a rare preferred indictment that could have a ripple effect across Canada, five contractors in Manitoba have been charged in a conspiracy to commit fraud in social housing renovation projects. The federal government’s Competition Bureau announced Monday that the...
Bookkeeper, Krisandra Jacobs, Defrauds Squamish Nation of $855,000
On October 12, 2022, the BC Provincial Court sentenced Krisandra Jacobs to four years imprisonment and imposed a restitution order of $855,000 for a fraud she perpetrated on the Squamish First Nation. Justice Lynn Smith declared the fraud to be “brazen and flagrant in...
Disgraced founder of collapsed crypto exchange FTX set to testify to Congress next week
The former CEO of collapsed cryptocurrency exchange FTX said he is willing to testify under oath to lawmakers about what happened, but warned that he will be unable to answer all of their questions. In a series of tweets, Sam Bankman-Fried replied to California...
Denise Henn’s Fraud Sentence Reduced on Appeal
On November 8, 2022, the Ontario Court of Appeal reduced a bookkeeper’s fraud sentence from 12 month custodial to a two-year conditional sentence (house arrest) plus probation plus a $45,000 restitution order. Denise Henn’s original sentence was imposed by...
Binance Is Trying to Calm Investors, but Its Finances Remain a Mystery
Binance recently made a commitment to transparency, but it has a long way to go before it discloses enough meaningful information to give investors confidence in its future, accounting and financial specialists say. The world’s largest cryptocurrency exchange is...
Elizabeth Holmes’ ex-boyfriend sentenced to nearly 13 years in prison for Theranos fraud
A judge has sentenced a top aide and ex-boyfriend of fallen Theranos founder Elizabeth Holmes to prison for duping people into trusting the failed blood testing startup. US District Court Judge Edward Davila sentenced Ramesh "Sunny" Balwani to nearly 13 years in...
Greece opens abuse, fraud probe into famed charity
The Ark of the World has worked with underprivileged children for at least two decades. Greece has opened a probe into one of the country’s best-known child charities after numerous claims of alleged abuse and financial mismanagement, a justice ministry source told...
Here are the top holiday scams in Canada you should be on the lookout for this season
The Canadian Anti-Fraud Centre said over $400 million has been lost due to fraud this year. As the holiday season approaches, the Canadian Anti-Fraud Centre (CAFC) is warning of common scams that could dampen both people’s spirits and their wallets. According to the...
Anna Sorokin says Sam Bankman-Fried’s media apology tour is a scam: ‘He’s just trying to save himself’
The convicted scammer Anna Sorokin thinks Sam Bankman-Fried's media apology tour is insincere garbage, she told Insider, saying he's trying to lay the groundwork for a legal defense over his role in FTX's meltdown and the evaporation of billions of dollars....
Huawei CFO Meng Wanzhou escapes fraud charges
The dismissal is part of a deferred prosecution agreement reached with U.S. federal prosecutors last year in which Meng admitted to making misleading statements to HSBC regarding Huawei’s sales activities in Iran. A U.S. District Court judge in Brooklyn has dismissed...
Victims of alleged Chinese currency exchange scam want investigation into millions lost
Exchange business owner denies wrongdoing, says victim 'ought to have known' there was material risk of loss. An Dong Pan says he didn't have any concerns when he referred his client to a currency exchange business in Richmond, B.C. A Realtor for over a decade,...
‘I didn’t ever try to commit fraud on anyone,’ FTX founder Sam Bankman-Fried says
Cryptocurrency firm FTX went bankrupt earlier this month. The man at the centre of collapsed cryptocurrency exchange FTX made his first public appearance since the saga began, telling a New York audience on Wednesday that it was never his intention to commit fraud....
OPP warning of scams around holiday season
Over the last few weeks, police have investigated several gift card scams, offers involving bank loans and credit line scams and emergency gift card scams. The Killaloe Detachment of the Ontario Provincial Police (OPP) would like to remind community members to be...
Major Canadian Crypto Exchange Coinsquare Says Client Data Breached
The exchange claimed the breached personal data wasn't likely seen "by the bad actor” and customers' assets are “secure in cold storage and are not at risk.” Coinsquare, one of Canada’s largest cryptocurrency exchanges, may have been breached, but the company claims...
FTX tells court it has evidence Sam Bankman-Fried transferred assets to Bahamas government custody after bankruptcy
FTX in a bombshell emergency court filing Thursday said it has credible evidence that Bahamian regulators directed former CEO Sam Bankman-Fried to gain "unauthorized access" to FTX systems to obtain digital assets belonging to the company after it had filed for...
Met Police chief: If you get a text from us in next 24 hours – you’ve been a victim of fraud
Sir Mark Rowley, the Metropolitan Police Commissioner, has told the public if you get a text from the force in the next 24 hours - you have been the victim of fraud. Scotland Yard's most senior officer acknowledged that the warnings are fraught with problems, because...
Peel police arrest man in alleged ‘romance scam,’ believe there are more victims
A Brampton man has been arrested after allegedly receiving over $10,000 in a “romance scam,” and police believe there may be more victims. In a news release on Thursday, Peel Regional Police said an older adult victim sent money to the suspect to allegedly pay off...