Fraud

NJ Deli worth $100M?

Director

Dec 21, 2023 — 1 min read

The SEC charged Peter L. Coker Sr., Peter L. Coker Jr., and James T. Patten for market manipulation schemes, including inflating the share price of Hometown International, a New Jersey deli. The deli, with less than $40,000 annual revenue, saw its share price rise from $1 to nearly $14, resulting in a $100 million market cap. The defendants aimed to use inflated stock for reverse mergers, intending to sell shares at high prices before being exposed by news articles.

For more details, you can read the full press release on the SEC's website

https://www.sec.gov/news/press-release/2022-172

Tooth Fairy Fraud...

Rene Gaviola, operator of Floss Family Dental Care in Houston, pleaded guilty to a $6M Medicaid fraud, involving fake claims for pediatric dental services and employing an unlicensed individual. He also paid kickbacks for patient referrals and laundered money. Sentencing is set for April, with potential for significant prison time

Nigerian Prince in jail?

Amos Prince Okey Ezemma, a Nigerian national, was arrested and arraigned in connection with an inheritance fraud scheme targeting the elderly in the U.S., involving personalized letters falsely claiming entitlement to a multimillion-dollar inheritance. Ezemma and five co-defendants, already convicted and sentenced, operated the scheme for over five years,

Short Term Rental Fraud - bait n switch

Shray Goel and Shaunik Raheja are indicted on federal fraud charges for running a double-booking, bait-and-switch scam through online rental platforms, including Airbnb, amassing over $8.5 million and involving discrimination against Black people. The scheme involved double-booking nearly 100 properties across 10 states, canceling overbooked guests with false excuses,

Digital Tokens and Identities Thwarting Fraud

In 2023, while artificial intelligence (AI) dominated headlines, especially regarding its impact on payments, other technologies like network tokenization and digital identities are revolutionizing transactions and securing them against 21st-century fraud. Network tokenization enhances security in digital commerce by replacing sensitive payment details with tokens that are less prone to

Read more

Tooth Fairy Fraud...

Nigerian Prince in jail?

Short Term Rental Fraud - bait n switch

Digital Tokens and Identities Thwarting Fraud