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.
Antitrust Price Fixing Corporate Accountability How Simmons Bought Silence A federal appeals court just blessed an $8 million (enough to pay a year’s groceries for roughly 8,000 families) settlement that shuts down every lawsuit against a chicken industry cartel player…
Investigative Report • Civil Contract Law • Mississippi Supreme Court They Bought the Company. They Inherited the Debt. Then They Tried to Pretend They Didn’t. EvilCorporations.com • Mississippi Supreme Court No. 2023-CA-00376-SCT • 63 min read TL;DR A small Mississippi…
Federal Investigation • Consumer Finance • Case No. 3:24-cv-00288 What Happens When Late-Stage Capitalism Makes Water a Luxury Aqua Finance, Inc. ran a door-to-door water treatment lending racket that left working-class families trapped in debt they never agreed to, with…
The $37 Million Deception of Seek Capital TL;DR Seek Capital and its CEO, Roy Ferman, are accused by the Federal Trade Commission (FTC) of running a predatory scheme targeting aspiring small business owners. The company promised business loans and lines…
FTC Investigation • Case 2:24-cv-07660-SPG-JPR “Your Husband Has Angered Some People. I Suggest You Have Him Remove the Reviews.” EvilCorporations.com • FTC v. Ascend Capventures Inc. et al., Filed 09/09/2024 • 50 min read TL;DR Two men, William Basta and…
TL;DR The Accused: NGL Labs, LLC and its executives Raj Vir and Joao Figueiredo. The Plaintiff: The Federal Trade Commission (FTC) and the District Attorney of Los Angeles County. The Scheme: The NGL app allegedly tricked its users, primarily teenagers,…
TL;DR An interconnected web of companies, including Legion Media and KP Commerce, allegedly engineered a massive unauthorized billing scam that took over $200 million from working people since at least 2021. The scheme relied on deceptive “free trial” offers for…
The Kingman House: Built on a $3.2 Million Lie TL;DR The Facts: Gaylen Rust’s company, Rust Rare Coin, ran a silver-trading Ponzi scheme called the “Silver Pool.” Investor Les Howell put in about $1.2 million and walked away with over…
TL;DR Long Leaf Trading Group, an “introducing broker,” systematically lost its customers’ money while collecting huge commissions. Under CEO James Donelson, one program lost $2,376,738 for clients. During that same period, the company raked in $1,235,413 in commissions from those…
The Napleton Deception Machine TL;DR The Napleton Automotive Group, a massive multi-state car dealership chain, was forced into a $10 million settlement with the Federal Trade Commission (FTC) and the State of Illinois. The company was charged with systematically sneaking…