Long Island investment advisor convicted of embezzling $1 million to fund lavish life
A former investment adviser was convicted of wire fraud, investment adviser fraud, and money laundering for misappropriating over $1 million from clients. [ more ]
Beverly Hills scammer pleads guilty to $18-million cannabis con
Con artist Mark Roy Anderson pleaded guilty to duping investors of over $18 million with false claims of a cannabis empire.
Anderson's history of swindling dates back three decades, with the latest scheme involving a non-existent hemp farm and misleading investment pitches. [ more ]
Crypto scams more costly to US than ransomware, feds say
Investment fraud led to the largest financial loss in cybercrimes last year at $4.57 billion, mostly targeting victims seeking quick returns through cryptocurrency.
Scammers utilize social engineering tactics like romance or confidence scams to transition into crypto investment fraud, along with appealing scams claiming to recover lost funds. [ more ]