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.
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…
The $100 Million ‘Simple Health’ Scam That Sold You Lies Instead of Insurance TL;DR The Scam: A network of Florida-based LLCs, fronted by Simple Health Plans and led by CEO Steven J. Dorfman and Chief Compliance Officer Candida L. Girouard,…
TL;DR Adobe, one of the world’s largest software companies, was sued by the U.S. Department of Justice on behalf of the FTC in June 2024 for deliberately hiding a cancellation fee worth up to hundreds of dollars from customers signing…
Cerebral’s Deception Machine THE RECEIPTS: FTC vs. CEREBRAL, INC. The Facts: The United States, on behalf of the Federal Trade Commission, filed a lawsuit against telehealth giant Cerebral, Inc., its former CEO Kyle Robertson, and other associated entities. The case,…
Lyft’s Calculated Deception TL;DR The Federal Trade Commission is suing Lyft, Inc. (Case No. 24-cv-7443) for using unfair and deceptive ads to recruit drivers. Lyft systematically advertised inflated hourly pay rates by basing them on the top 20% of earners,…
American Financial Benefits Center: A Predatory Loan Scheme Unmasked TL;DR The Scam: American Financial Benefits Center (AFBC) and its affiliates ran a deceptive telemarketing operation targeting people with student loan debt. The Misconduct: They illegally charged hundreds of dollars in…
CFPB Corners Block, Inc: A Pattern of Neglect Freezes Out Cash App Users TL;DR The Facts: The Consumer Financial Protection Bureau (CFPB) initiated proceedings against Block, Inc., operator of Cash App, for widespread violations of consumer protection laws under File…
Capital One’s $2 Billion Bait and Switch TL;DR Capital One aggressively marketed its “360 Savings” account with promises of “top,” “best,” and “highest” interest rates, encouraging millions of customers to deposit their money and trust the bank to deliver. In…
Your Dispute is Designed to Fail TL;DR The Consumer Financial Protection Bureau (CFPB) is suing Experian, one of the largest credit reporting agencies in the country, for systematically violating federal law. The case number is 8:25-cv-00024. Experian’s entire system for…