Fraud

Fraud is the making of false representations or engaging in deceptive behavior in order to unlawfully secure financial or personal gain. 
News & Analysis as of

Trademark Trial and Appeal Board Sustains Opposition on the Basis of Fraud

Nationstar Mortgage LLC v. Mujahid Ahmad - The United States Patent and Trademark Office (USPTO) Trademark Trial and Appeal Board (TTAB or Board) sustained an opposition on the basis of fraud, finding that Ahmad’s...more

10 Fast Facts On Fraud

1. WHAT IS FRAUD? Fraud is a knowing misrepresentation of the truth or concealment of a material fact to induce another to act to his or her detriment. 2. HOW MUCH TIME ELAPSES BEFORE FRAUD IS DETECTED?...more

Changing Regulatory Regime Necessitates New Solutions To An Old Problem: 5 Elements Critical To An Anti-Fraud Compliance Program

US government regulators have become more aggressive in their detection and enforcement of fraud against the government. One of the key tools they are using to combat such fraud is the False Claims Act. Most FCA cases are...more

Second Circuit Affirms District Court’s Denial of Certification of Class of Investors Alleging Common Law Fraud Under New York Law

The Second Circuit affirmed the district court’s denial of class certification of a class of investors based on the appellants’ failure to satisfy the numerosity and commonality requirements of Rule 23(a). Following the...more

Facts about fraud: Fact #4 - Behavioral Red Flags

Facts About Fraud - We're more than half way through International Fraud Awareness Week. So we bring you our fourth fraud fact: Fraudsters may behave a little differently. Now that doesn't mean you need...more

Vascular Solutions Inc. and its CEO Face Criminal Charges for Selling Unapproved Medical Devices

Last week, the Civil Division of the U.S. Department of Justice (DOJ) filed an indictment charging Vascular Solutions Inc. (VSI) and its CEO Howard Root with (1) selling medical devices without the approval of the U.S. Food...more

Facts about fraud: Fact #3 - higher authority = more damage

International Fraud Awareness Week - November 16 - 22, 2014 - #fraudhurtsbad - Facts About Fraud - We continue our International Fraud Awareness Week with our third fraud fact: The higher up the corporate...more

Facts about fraud: Fact #2 - Small business fraud hurts more

Smaller business suffer greater from fraud. The bigger the business, the more employees, and the fraud costs skyrocket. Big businesses that have engaged in fraud end up paying 'gazillions' in violations, penalties, and...more

Bank That Accepted Stolen and Forged Checks From Check-Cashing Company Had Duty of Care to Verify Endorsements

Addressing an issue of first impression, the California Fourth Appellate District has decided that a check cashing service is not a bank for purposes of the fraudulent indorsement provisions of Section 3405 of the California...more

FCC Seeks Comments on Request to Exempt Fraud and Identity Theft Notifications from TCPA’s Coverage

The Federal Communications Commission (FCC) is seeking input on the American Bankers Association’s (ABA) petition requesting that the FCC exempt certain time-sensitive informational notifications from the Telephone Consumer...more

Nevada’s Business Judgment Rule: FDIC – 4; Management – 0

In recent weeks, the U.S. District Court has issued four separate rulings in cases brought by the Federal Deposit Insurance Corporation (FDIC) against former bank managers for breach of fiduciary duty. Here is a brief recap...more

Facts about fraud: Fact #1 - Collusion equals bigger frauds

International Fraud Awareness Week - November 16 - 22, 2014 - #fraudhurtsbad - Facts About Fraud - This week is International Fraud Awareness Week. We're cicking things off and spreading the word on the fight...more

Fraud in Virginia

Fraud cases in Virginia are not only difficult to prove, but can also be challenging to plead. The well-established standard that fraud must be pleaded with particularity diverges from the “notice pleading” test that permits...more

Seventh Circuit: No Fraud in Billing Medicaid More than Private Insurers for Drugs

Last Wednesday the Seventh Circuit affirmed the dismissal of a whistleblower suit brought by a pharmacist against his former employer, the Shopko pharmacy chain, for what he alleged was fraudulent billing of Medicaid by...more

Allegation That Court Itself Was Victim Of Fraud Causes Federal Judge To Recuse Himself, All Other Judges In The District

The biggest litigation you’ve probably never heard, the Moonlight Fire litigation, just took another twist. Following a huge Northern California wildfire, the State and the Feds sought tens of millions in damages from...more

FCC Accepting Comments on ABA Petition To Exempt Fraud Notifications from TCPA Requirements

The Federal Communications Commission (FCC) recently issued a Public Notice requesting comments on a petition by the American Bankers Association (ABA) to exempt time-sensitive informational calls to mobile devices from the...more

Prison fraud, bribery, and money laundering

Whistleblower tips are one of the most effective ways to uncover fraud and bribery - Every morning once I've grabbed my cup of "wake me up", I head to my desk and troll the internet for interesting stories and coverage...more

SEC Introduces “Control Person” Liability as Enforcement Action Weapon in Claim Against Municipal Officer for Misleading Bond...

The U.S. Securities and Exchange Commission recently settled the first securities fraud charges brought against a municipal official alleging “control person” status under the federal securities laws. The SEC’s settlement...more

Participation Not Required: SEC Charges Mayor as Control Person in Municipal Bond Offering

In an unprecedented exercise of its authority to charge municipal officials with “control person” liability, the Securities and Exchange Commission (SEC) recently announced fraud charges against the City of Allen Park,...more

American Bankers Association Asks FCC for Exemption From TCPA Liability

Why it matters - Seeking an exemption from Telephone Consumer Protection Act (TCPA) liability, the American Bankers Association (ABA) filed a petition with the Federal Communications Commission (FCC) to allow financial...more

Use of Porn Star Images in “Romance Fraud” Dating Profiles Fails to Support Trademark and False Advertising Claims

The plaintiff in Avalos v. IAC/Interactive Corp. called it “one of the biggest conspiracies ever executed on the internet” — the unauthorized use of images of adult film stars in fake online dating profiles. But in an opinion...more

Fraud Claim Against Lender Dismissed

"Courts have held that there is no duty on a lender to ensure that a loan is suitable for a borrower," wrote Judge Jones in a recent case dismissing a fraud and misrepresentation claim brought by a home owner against the...more

Iowa State Researcher Accused of Scientific Fraud

Here at Whistleblower Security, we’ve covered basically every type of fraud from phone fraud to check fraud to academic fraud to even food fraud. Now it’s time to talk about scientific fraud....more

SEC Charges City Mayor as a Control Person in Allen Park, Michigan, Enforcement Action

Thursday, the Securities and Exchange Commission (SEC) announced fraud charges against the City of Allen Park, Michigan (City), and two of its former officials—the former City Mayor and former City Administrator. It is the...more

Food and Hospitality Bites - Autumn 2014

IN THIS ISSUE: - Allergen labelling – the new requirements - Licensing and deregulation - Late Night Levy – Update - The new Tobacco Products Directive - The Horsemeat Scandal - The Alcohol Misuse Manifesto...more

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