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The case, which is currently pending in U.S. District Court in Pennsylvania, highlights a legal loophole that consumer lawyers say leaves banking customers vulnerable to check and wire-transfer fraud.
The suit seeks recovery of $70 million in allegedly fraudulent transfers. [66] On November 17, 2010, Picard filed a clawback lawsuit seeking recover of $20.4 million in false profits from Melvyn I. Weiss and David J. Bershad, who had both previously pleaded guilty to racketeering charges in an earlier securities fraud case involving kickbacks ...
The NY AG alleges that Citi gets customers to sign “coerced” affidavits that allows the bank to treat claims of fraud to narrow commercial laws on wire transfers instead of the more ...
As these networks are used by banks to settle accounts with each other, rapid or overnight wire transfer of large amounts of money are commonplace; while banks have put checks and balances in place, there is the risk that insiders may attempt to use fraudulent or forged documents which claim to request a bank depositor's money be wired to ...
Real estate wire fraud is becoming increasingly common in New Jersey. ... which has a full Fraud Recovery Services Division that operates 24/7. ... And if you sent the money using wire transfer ...
An overpayment scam, also known as a refund scam, is a type of confidence trick designed to prey upon victims' good faith.In the most basic form, an overpayment scam consists of a scammer claiming, falsely, to have sent a victim an excess amount of money.
Mail fraud was first defined in the United States in 1872. 18 U.S.C. § 1341 provides: Whoever, having devised or intending to devise any scheme or artifice to defraud, or for obtaining money or property by means of false or fraudulent pretenses, representations, or promises, or to sell, dispose of, loan, exchange, alter, give away, distribute, supply, or furnish or procure for unlawful use ...
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