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.
Student Loan Scam Drained Millions From Vulnerable Borrowers Corporate Misconduct Accountability Project Intercontinental Solutions LLC · Federal Trade Commission Enforcement Action with Stipulated Permanent Injunction Student Loan Scam Drained Millions From Vulnerable Borrowers Intercontinental Solutions and Express Enrollment deceived struggling…
FTC Lawsuit: Wisconsin Auto Dealer Charged Secret ‘Racial Tax’ to American Indian Customers The Gist of the Grift Who: Rhinelander Auto Center, a group of dealerships in Wisconsin, and its general manager Daniel Towne. The Accusation: A federal lawsuit by…
BlueSnap Knowingly Processed Payments for Telemarketing Scam Artists Corporate Misconduct Accountability Project BlueSnap, Inc. · FTC Enforcement Action BlueSnap Knowingly Processed Payments for Telemarketing Scam Artists FTC alleges payment processor BlueSnap ignored fraud warnings and helped debt-relief scammers steal tens…
Asbury Automotive Charged with Racist Add-On Scams at Texas Dealerships Corporate Misconduct Accountability Project Asbury Automotive Group, Inc. · FTC Administrative Complaint Asbury Automotive Charged with Racist Add-On Scams at Texas Dealerships FTC alleges the auto giant charged Black and…
The Facts Case: CFPB Consent Order, File No. 2025-CFPB-0003. Corporation: American Honda Finance Corporation. Timeframe: Violations occurred from January 1, 2019, to December 31, 2024. Affected: Nearly 85,000 consumers who accepted COVID-19 payment deferrals. The Misconduct Honda promised to report…
Draper & Kramer’s Redlining Scheme What: Federal lawsuit by the Consumer Financial Protection Bureau (CFPB) against Draper & Kramer Mortgage Corporation (DKMC). Case Number: 25-cv-00605, filed in the U.S. District Court, Northern District of Illinois. When: From at least 2019…
System Failure The Receipts THE ACCUSED: Vanderbilt Mortgage and Finance, Inc., a subsidiary of Clayton Homes, which is a subsidiary of Berkshire Hathaway, Inc. THE CHARGE: Systematically originating predatory mortgage loans for manufactured homes to financially vulnerable people, knowing they…
Grubhub’s ‘Pricing Shell Game’: Deceiving Diners, Exploiting Restaurants, And Lying To Drivers TL;DR Grubhub lures customers with low “delivery fees” then secretly adds hefty “service” and “small order” fees at the final checkout screen, often doubling the price. The “free…
They Took $18.25 Million for Cancer Patients. They Kept 99% Of It. TL;DR From 2017 to 2022, the Women’s Cancer Fund, run by Gregory B. Anderson, solicited over $18.25 million in donations. The charity promised donors their money would directly…
The $20.3 Million Student Debt Lie TL;DR A network of shell companies, operating as a common enterprise, extracted over $20.3 million from people buried in student loan debt. They used high-pressure telemarketing and deceptive mailers to make false promises, including…