Financial fraud includes activities like embezzlement, insider trading, and accounting fraud, inflicts substantial harm on society. It distorts the transparency and efficiency of financial markets, leading investors and regulators to make decisions based on false information, which can destabilize entire economic systems. The direct victims of financial fraud—ranging from individual investors to large corporations—can face devastating financial losses, potentially wiping out life savings or crippling business operations.
Class Action Investigation Underdog Fantasy Is Running an Illegal Sports Book EvilCorporations.com • Case No. 1:25-cv-01106 • 28 min read TL;DR Underdog Fantasy, headquartered in Brooklyn, New York, markets itself as a “fantasy sports” app. Federal lawsuit filed February 26,…
Nate Inc. CEO Alberto Saniger Charged with $42M AI Investment Fraud Corporate Misconduct Accountability Project Nate, Inc. · SEC Enforcement Action Nate Inc. CEO Alberto Saniger Charged with $42M AI Investment Fraud Alberto Saniger falsely claimed his shopping app used…
EvilCorporations.com • SEC v. GPB Capital Holdings, Case 1:21-cv-00583 • 46 min read $1.7 Billion Stolen from 17,000 Americans: The GPB Capital Ponzi Scheme How a New York investment firm took retirement savings, paid fake returns with victims’ own money,…
EvilCorporations.com • Case 8:24-cv-01626-KKM-AAS, M.D. Fla. • 38 min read Promised Forgiveness, Delivered Fraud: The $6.47M Student Loan Scam How a family-run operation in Sarasota, Florida, and Cali, Colombia, impersonated the U.S. Department of Education to rob broke student loan…
TL;DR From March 2, 2018 through September 15, 2021, Storm Bryant and Elijah Bryant III operated a Ponzi scheme under three shell companies: CapitalStorm LLC, GenerationBlack LLC, and Ncome LLC. They told clients they were trading forex on their behalf.…
FTC Complaint • Case 2:24-cv-00569 • Filed April 25, 2024 EvilCorporations.com • Case 2:24-cv-00569, W.D. Wash. • 35 min read Doxo Built Fake Bill-Pay Websites to Intercept Your Payments and Drain Your Account The FTC says Doxo’s two co-founders deliberately…
Financial Misconduct • FINRA Enforcement $50,000 Fine. $29 Million in Violations. The Math on Wall Street’s Wrist Slap. For eight months, Curvature Securities miscalculated the reserve fund legally required to protect its customers’ money. The error totaled more than $29…
EvilCorporations.com • FTC v. American Vehicle Protection Corp., Case No. 0:22-cv-60298-RAR (S.D. Fla. Feb. 8, 2022) • 19 min read Your “Extended Warranty” Was a Lie: How American Vehicle Protection Corp. Stole $6 Million From Car Owners TL;DR Who: American…
EvilCorporations.com • Case No. 2:20-cv-00864-HCN • 40 min read Why Did CMS Help Pyramid Schemes Process $93 Million in Fraudulent Charges? A Utah payment processor spent over a decade opening bank accounts for scammers, lying to regulators, and coaching fraudsters…
The Credit Repair Scam That Became a Nationwide Pyramid Scheme EvilCorporations.com • Case 2:22-cv-11120-BAF-APP, U.S. District Court, Eastern District of Michigan • 48 min read TL;DR Since at least 2015, Financial Education Services (FES) and its network of affiliated companies…