The investigation found that: * State regulators had allowed more than 10,000 convicted criminals to peddle mortgages in Florida between 2000 and 2007 while the state's mortgage fraud rate was spiraling to the highest in the nation. * More than 4,000 licensed brokers had cleared background checks after committing crimes that state law specifically required regulators to screen, including fraud, bank robbery, racketeering and extortion. * The former criminals allowed into the industry had committed more than $85 million in mortgage fraud by the time the first installment of the series ran. * When the state investigated brokers already in the business, there was almost no punishment for wrongdoing. The PACER match turned out to be important because Florida law specifically required regul...
LAKELAND Centenarian dies in house blaze
...COURTS. Snack food exec admits to fraud. An executive for Brimhall Foods Co. has pleaded g...Bank fraud carries punishment of up to 30 years in pris...
... of them--are responsible for the medical fraud, the oil spill, the price fixing, and the illegal ...(91) The Supreme Court held in First National Bank of Boston v. Bellotti (92) that corporations have ...
This article examines the federal government's growing use of 18 USC § 1346 to prosecute public company executives for breaching their fiduciary duties. Section 1346 is a controversial but under-examined statute making it a felony to engage in a scheme "to deprive another of the intangible right of honest services." Although enacted by Congress over twenty years ago, the Supreme Court repeatedly declined to review the statute, until now. The questions before the Supreme Court are of particular interest to public company executives and their professional advisors. Traditionally, Delaware law has governed the content and enforcement of executives' legal duties, largely protecting public company fiduciaries from civil liability. Now, with the emergence of honest services fraud as a weapon ...
... to the perceived need for greater punishment and deterrence of corporate malfeasance. Disloyal ... complex debt instruments imperiled the giant bank and threatened its survival. Citigroup posted a $2...
... used false identification to fraudulently gain access to money from five separate accounts at various banks and to open a credit account with an electronics ... bank fraud, "shall, in addition to the punishment provided for such [listed] felony, be sentenced to...
... Edwards pleaded guilty to one count of bankruptcy fraud in violation of 18U.S.C. § 152(9) and one c... for the law, and to provide just punishment for the offense," 18U.S.C. . § 3553(a)(2)(A), the...
... felony," as that term is used in the punishment enhancementstatute. See James v. United States, 55... (USFA) maintains theworld's largest data bank on fires. It secures participationfrom over one-t... obviously nonrisky felonies like insurance fraud or misappropriation of escrow funds, legislatures ...
... their criminal convictions and sentences for bank fraud in violation of 18 U.S.C. § 1344, conspirac... done: (2) make more burdensome the punishment for a crime, after its commission; or (3) deprive ...
Mortgage fraud, a white-collar crime committed against lending institutions, has grown tremendously over the past few years across the United States. Mortgage fraud has community implications, and does not follow traditional categories of white-collar crimes, which usually are limited in the types of victims affected. Because of the negative externalities that emanate from neighborhoods hit by cases of mortgage fraud, the ramifications of this crime have long-lasting and harmful effects for multiple parties, in terms of quality of life and financial hardship. This paper explains the implications that mortgage fraud can have on both affected neighborhoods and public administrators. Future research opportunities are also addressed regarding this complex phenomenon. Finally, a brief list o...
...While it is true that banks and lending institutions suffer losses due to mort... of getting caught are minimal, the punishment is negligible, and the social stigma attached to t...
... their criminal convictions and sentences for bank fraud in. violation of 18 U.S.C. § 1344 , co... more burdensome the punishment for a crime, after its commission; or (3) deprive....
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