Fraud charges against owner of Jackson Hewitt franchises

On Tuesday, the U.S. Justice Department filed civil injunctions against five Jackson Hewitt franchises, including the corporations that operate the franchises and 24 people who work at those franchises. The corporations in question operate over 125 Hackson Hewitt locations in Atlanta, Chicago, Detroit and Raleigh-Durham. Farrukh Sohail owns the five corporations in this suit, and … Read more Fraud charges against owner of Jackson Hewitt franchises

Stockbroker pleads guilty to money laundering

John Burch, a former stockbroker with Wachovia Securities, has pleaded guilty to federal charges of laundering over $300,000 received through bribery and racketeering. Burch opened multiple brokerage accounts during 2001, 2002, and 2003 to launder criminal proceeds from Milt Morris. Transactions were broken down into small deposits to hide the transactions. Burch also lied to … Read more Stockbroker pleads guilty to money laundering

Have You Been Taken by Mortgage Fraud?

I read a great post on the Bankruptcy Law Network. Of course, their example is exactly like a situation someone recently brought to my attention. Jonathan Ginsberg writes the following:

Here’s how one version of a classic mortgage fraud scheme works: my client is approached by a friend or acquaintance with an opportunity to participate in a profitable real estate investment. The “friend” has a friend who is in the real estate business and he knows of a neighborhood where there are good deals on rental properties. In many cases these rental properties already have tenants. The “friend” can also arrange financing in which my client does not have to put any money down and the debt service (i.e., the mortgage) will be covered by the rental income.

Read moreHave You Been Taken by Mortgage Fraud?

Wall Street Journal story reveals another Usana executive with falsified credentials

A story in the Wall Street Journal on Saturday reported on the Denis Waitley credential problem, as well as another Usana executive with credential problems. After trading closed on Friday, Usana announced that director Waitley was stepping down after an “error” with his credentials. The fact is that Waitley did not have the Masters degree … Read more Wall Street Journal story reveals another Usana executive with falsified credentials