On 1-12-2016 at about 1715 hrs I was dispatched to a theft report, which occurred at the Seasons on Lea Hill 12722 SE 312TH ST, Auburn/King/Wa. Upon arrival I contacted the victim, Armando Chavez at his apartment 6A. Armando stated that several days ago, no precise date, he went to his bank to deposit money into his account. Armando stated he banked at Alaska USA. Armando was advised by a teller that he had a negative money in his account and it looked as if someone had attempted to deposit money from his account.…
I file this complaint against United Bank 129 Main Street, Beckley, West Virginia. United Bank facilitated a lengthy fraud-for-profit scheme. Former United Bank Vice President Michael Farris, United Title employees, United Bank’s escrow attorney James Sheatsley, United Bank Vice President Larry Conway, and other United Bank employees took part in the criminal enterprise. In addition, Zaferatos Appraisal, United Bank’s exclusive appraiser, performed inflated appraisals in all properties used in the scheme.…
Tallahassee Bean Counters (TBC) – GOLD Final Audit Fraud Report: 1. Who committed the fraud? 2. How was the fraud committed? 3.…
Elizabeth Calderon, 39, Salinas, California, and Esther Sanchez, otherwise called Trinidad Carrillo, 54, Salinas, California, were arraigned by an elected excellent jury on charges of documenting false assessment forms, burglary of government stores, exasperated wholesale fraud, putting forth false expressions to governmentally protected establishments, and scheme, Calderon and Sanchez are accused of scheming to present an advance application to Bank of America that contained false data and was bolstered by forged archives. As per the prosecution, starting approximately November 24, 2010, and proceeding to the present, Calderon has been an expert government form preparer and a large portion of the charges against Calderon emerge from this expense work Calderon and Sanchez were captured in Salinas and showed up this evening in government court in San Jose before the Honorable Paul S. Grewal, U.S. Officer Judge. Both respondents' next appearance is booked for October 13, 2015 at 9:00 AM before the…
The article “Wells Fargo Chairman, CEO John Stumpf Retires; Board of Directors Elects Tim Sloan CEO” by Oscar Suris, appears in the Business Wire newspaper. Wells Fargo has announced the Chief Executive Officer, John Stumpf, has informed the company’s board of directors that he is retiring. As a result, the board has elected Tim Sloan, Chief Operating Officer, to follow as the new CEO. The article continues by giving readers background information about John Stumpf’s position in the company. John Stumpf has dedicated his professional life to banking, successfully leading Wells Fargo through the financial crisis, and helping to create one of the strongest financial services companies.…
It was only two months ago when Wells Fargo, a megabank that was regarded as one of the better-run and more-reliable in the industry, was exposed to one of the biggest financial scandals since the financial crisis of 2008. The reason? Greed. The same greed shown in Wall Street 8 years ago that left the economy crippled.…
On 09/14/2016, upon review of the monthly travel card reports covering 08/13/16 through 09/12/16, it was discovered that Detroit FAM Timothy Butterfield had a returned check fee of $25.00 (Non-Sufficient Funds). According to FAM Butterfield, the non-sufficient fund amount was to pay the travel card period ending 08/12/2016. The amount due for that billing period was $2676.00. The non-sufficient fund amount was paid prior to the billing due date; however, JP Morgan Chase did not submit the personal check for payment until 8/18/2016. FAM Butterfield assumed the payment had cleared his bank shortly after he made the payment and withdrew monies from his account, which dropped it below the balance of $2676.00.…
White-Collar crimes are usually non-violent crimes which occur in corporate structured organizations. In the words of Edwin Sutherland, a crime committed by a person in a high status position and respectability in the course of their profession or occupation (Brody and Kent 2010). Financial fraud, embezzlement, insider trading, identity theft, and forgery are a few examples of crimes of a corporate nature. A white-collar crime described as “the largest Ponzi-type scheme in Canadian history” (Ewart 2015) by Gary Sorenson, 71, and Milowe Brost, 61 took place in Calgary Alberta 2015. The pair had allegedly deceived and conned large corporations, by way of taking funds from new investors for various investments in their fictional gold enterprise,…
Kal Financial is a mortgage brokerage firm that is located in Campbell, California. They are the American Financial Network, Inc. that is doing business as Kal Financial. Their loan products include 30 year fixed, 15 year fixed, 10 year ARM, 7 year ARM, 5 year ARM, 3 year ARM hybrid, and 1 year ARM. The 1 year ARM includes the 1 year T-bill, 1 year T-average and 1 year T-spot. They are the low rate experts.…
It would also be important to look into transaction descriptions. It is often the case that a fraudulent transaction will be paired with very little or no description at all. Through pattern and frequency analysis we could single out transactions that prove whether or not this type of entry was in fact fraudulent or not. Understanding industry regularities could also prove to help us in successfully identifying the fraudulent entries in…
JPMorgan Chase is an American multinational bank and holding company. That provide the financial services to different sectors of the country. Headquarter of the bank in in New York City. This bank is the largest bank of United States that extends its operations in different cities of the state. By comparing its assets with the all the banks of the world, this ban ranks in 16th position.…
Private Banking Versus Shadow Banking There are two types of banking secrecy systems Switzerland takes part in, shadow banking and private banking. The shadow banking system points to the financial intermediaries associated with enabling the creation of credit across the world financial system whose members are not subject to regulatory oversight. Any unregulated activity by regulated institutions is also termed shadow banking (International Monetary Fund, 2014). Private banking, however, is individualized banking and financial services that are customarily given to banks that service wealthy high net individual clients (Moosa, 2015). This paper explains shadow banking in general but specifically shadow banking in Switzerland.…
Introduction The key tenant of choosing a specific firm for analysis, is one having the history of outsourcing their Information Technology (IT), to a third party, only to regret the decision, and return, or back source, the IT service. An excellent example being the current largest bank in the United States; JP Morgan Chase. In 2004 JP Morgan Chase cancelled the remainder of a seven year, $5 billion IT contract with IBM.…
What are ethics and its importance in business today? Ethics is “a system of moral principles”1 and depends on each individual culture of what it’s considered ethical. Ethics is an important part of every business because following the principles of moral gives a promising image of the company to stakeholders. Moreover, ethics, legalities and other situations are what drive personnel to make the right decision.…
In the year 2000, Americans gambled away over two billion dollars over the internet (Hammer). The internet brings the unimaginable into a virtual reality. Although Americans utilize the internet as a source of communication, they use the complex system for entertainment purposes. One of the most dangerous and controversial form of entertainment on the internet narrows down to online gambling websites. On and off, online gambling websites have been legal and illegal.…