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In October 2002, he pleaded guilty to charges of securities fraud, bank fraud, obstruction of justice, and perjury. [59] Ferdinand Ward, financial swindler in the late 1800s; Dina Wein Reis pled guilty to conspiracy to commit wire fraud in May 2011, having duped corporations out of tens of millions of dollars. [60]
Kathua rape case; Punjab National Bank Scam: A fraudulent letter of undertaking worth ₹11,600 crore (US$1.77 billion) was issued at the Punjab National Bank branch in Brady House, Mumbai, making the bank liable for the amount. [79] The fraudulent transactions, linked to Nirav Modi, were first noticed by a new employee of the bank. [80]
The 2016 Indian bank data breach was reported in October 2016. It was estimated 3.2 million debit cards were compromised. It was estimated 3.2 million debit cards were compromised. Major Indian banks , among them SBI , HDFC Bank , ICICI , YES Bank and Axis Bank , were among the worst hit. [ 1 ]
[35] [36] Pleaded guilty to conspiracy to commit access device fraud and bank fraud, access device fraud, bank fraud, intentional damage to a protected computer, and aggravated identity theft. 1 February 2013 Extradited from Romania and sentenced to 144 months in U.S. federal prison [37] Andrew Auernheimer: Weev United States (at time of ...
Under federal law, bank fraud in the United States is defined, and made illegal, primarily by the bank fraud statute in Title 18 of the U.S. Code. 18 U.S.C. § 1344 states: [15] Whoever knowingly executes, or attempts to execute, a scheme or artifice— (1) to defraud a financial institution; or
In October, U.S. officials said TD bank employees received at least $57,000 in gift cards in 2020 and 2021 from one criminal who moved more than $400 million in transactions through the bank.
After 3 years, both banks were put into bankruptcy, a new nationalized bank was created and the assets of the two bankrupt banks and the bank accounts of local account holders were transferred to the new bank and the local depositors were made whole by stealing about $180 million of money belonging foreign depositors, who lost their entire savings.
This broker goes to another bank and tries to sell the securities and vice versa for buying. Since Mehta was a renowned broker, he cheques issued in his name instead of the bank. When the bank wanted money for the securities, he approached another bank and repeated the same process, and invested the bank money in the stock market. [10]