The crypto winter reckoning is upon us, and individuals in thousand-dollar suits are now heading to Club Fed for an extended period after they were accused of fraud and making illegal donations to political campaigns. As of now, everyone around Sam Bankman-Fried, the former CEO of FTX, appears to be…
Most folks do not understand how our economic system really works. What is a bank? What is a security? What is a corporation? Folks who have general ideas about what the concepts mean tend to be misinformed. As an example, most folks believe that banks use deposits to issue loans.…
Rahul Shah became the first person in the Chicago area with the dubious distinction of defrauding the federal government for coronavirus relief funds. Shah applied for a $441,000 federal loan earmarked for small business relief during the coronavirus pandemic. When confronted concerning the suspicious forms used to apply for…
Yesse Yehuda, the politically-connected head of the FORUM non-profit, has been charged by federal authorities for misappropriating $200,000 in funds earmarked to develop south suburban properties and fund a workplace training program. Yehuda has been charged with eight counts of bank fraud and seven counts of wire fraud. Where Did…
Chicago police have arrested and charged Alicia Newby who allegedly stole the identities of several people, purchased thousands of dollars of merchandise online, and had the merchandise mailed to dummy addresses. One of the people whose identities she stole was Taraji P. Henson, who is a star in the hit…
On January 17, a man from Winnetka was given a five-year federal prison sentence for fraud. 50-year-old Thomas Lindstrom led a scheme that cost his customers almost $14 million dollars in losses. As a result, the Northfield-based company that employed him was forced to close its doors. The former options…
The complexity of the securities and commodities fraud case list means that the legislation must be written in such a way as to encapsulate all the various forms of criminality that are involved. Typically, this means that there are many agencies that support the work of the prosecutor even if…
The crime of bank fraud is sometimes thought of as being harmless given the fact that it involves big powerful corporations and rarely involves any violence. However, the courts take it seriously and are quite capable of imposing significant penalties for it. The technical definitions of the crime include the…