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He also donated large sums of money to political causes. In 2020 he was convicted of bribery and conspiracy to commit wire fraud, and sentenced to seven years and three months in federal prison. The conviction was overturned by a federal appeals court in June 2022 pending a retrial. He was convicted of the same charges at a new trial on May 15 ...
A Colorado businessman convicted of fraudulently siphoning hundreds of thousands of dollars from an online fundraiser that raised $25 million to build a wall along the U.S. southern border was ...
The Bankers Life and Casualty Company was established in 1932 as a mutual life insurance company in Chicago, Illinois. [6] In contrast to most other life insurance companies, whose costs included salaries for accountants, sales agents, officers, and actuaries, Bankers Life minimized its overhead as a means of undercutting the monthly insurance premiums of its competitors.
In 2018, he began co-hosting the AARP podcast The Perfect Scam about scammers and how they operate. [ 43 ] He has appeared in the media a variety of times, including three times as guest on The Tonight Show , an appearance on To Tell the Truth in 1977, [ 44 ] [ 45 ] [ 46 ] and a regular slot on the British network TV series The Secret Cabaret ...
Sobs of relief broke out in a federal courtroom in Kansas on Monday as dozens of people whose life savings had been embezzled by a bank CEO learned that federal law enforcement had recovered their ...
Nearly all bank customers, or 92%, said they were “likely to reuse their bank” after the institution resolved a case of fraud. Most fraud victims said they still felt pretty good about their bank.
Regardless, there was fraud and insider abuse in many cases. [42] [43] The Crime Control Act of 1990, after the crisis, established a special counsel to investigate and prosecute fraud in financial institutions. Between 1988 and 1992, the Department of Justice sent 1,706 bankers to prison and found guilty verdicts in 2,603 cases. [44]
Colorado Attorney General John Suthers won a $2.5 million judgment against an immigrant aid service he filed a lawsuit against for defrauding hundreds of people who needed federal forms.