Some frauds are quite audacious and yet quite simple. It is common for the building company undertaking work on your premises to put up advertising hoarding to announce their presence. Fraudsters have been contacting the client (often a school or university) to advise them of a change in bank details for the building company. A neat way to divert funds […]
A collection of labor and community groups filed a complaint with the Internal Revenue Service accusing Wal-Mart Stores Inc’s charitable foundation of violating its tax exempt status by using donations in an attempt to facilitate store openings in urban areas.
In the complaint, dated Monday and addressed to IRS Commissioner John Koskinen, the group claims the Walmart Foundation made donations to […]
The world awoke Wednesday morning to the news that a number of high-ranking FIFA officials had been arrested by Swiss authorities in a Zürich hotel, and were facing extradition to the USA on charges of racketeering, money laundering and wire fraud.
And there’s more. A few hours later, the Swiss announced that they had also been busy with their own investigation, […]
Five banks will pay the Department of Justice nearly $3 billion in fines and penalties for their manipulation of U.S. dollar and Euro exchange rates, which the DoJ characterized as occurring “almost every day for five years” through private chat rooms, benefiting their trading positions but harming countless consumers and investors around the world. Separately, the Federal Reserve said on […]
Four charities that claimed to be helping cancer patients were actually lining the pockets of their executives, the Federal Trade Commission said in a complaint filed against the Cancer Fund of America, Children’s Cancer Fund of America, the Breast Cancer Society, and Cancer Support Services.
In one of the largest charity fraud cases ever filed, the executives stand accused of stealing […]
The popularity of nonprofit crowdfunding is undeniable. Last year alone, it is estimated that $5 billion was raised through global crowdfunding with about 30 percent of that total going to social causes. While that figure pales in comparison to the approximately $300 billion raised by charities in the US over the same time period, the number of donation and reward-based […]