This item was referred by VFA (Valic Financial Advisors) that Michael Bocskey (The Client) has alleged an unknown person has committed fraud against his account by changing the banking instructions and requesting an Electronic Funds Transfer (EFT) for $6,000.00 to be sent to Sycamore Bank.
The Client purchased a brokerage account with a transfer from First Energy Corp for $447,000.00 on October 11, 2005.
The company received an EFT request in the amount of $6,000.00 from an Individual Retirement Account to a joint bank account on Client’s file at Huntington Bank account number 041000153 and routing number 02660466338. VFA Operations notified the agent that a Standing Payment Instructions was required to establish the EFT link and process the funds to a joint bank account. Later that day, the company received Standing Payment Instructions to add Sycamore Bank account number 4518049 and routing number 084202086 with an electronic signature for Michael J Bocskey. …show more content…
The agent informed the Client based on their email conversations, he requested the Company to change the banking instructions to Sycamore Bank and the funds had been processed. The Client stated he had not requested any change from Huntington Bank to Sycamore Bank nor had he had email conversations with the agent. The agent confirmed his Client’s email address and stated he would notify his District Manager (DM) and Sycamore Bank to freeze the
On Friday, 09/23/2016, at approximately 0830 hours, I, Deputy Stacy Stark #1815 met with the reporting party, James R. Boucher (M/W, DOB: 07/25/1959) at the Jackson County Sheriff’s Office. I requested James R. Boucher to come to the Jackson County Sheriff’s Office to review the Wal-Mart video footage I collected and identify the suspect, James Roy Boucher (M/W, DOB: 03/16/1978) on the video footage.
One of the most recent white-collar crime involved Wells Fargo, a banking and financial services provider. In 2016 San-Francisco based bank Wells Fargo (WFC) employees secretly created millions of unauthorized bank and credit card accounts without permission of their customers. Opening about 1.5 million fraudulent deposit accounts and submitting 565,443 credit card applications allowed Wells Fargo employees to boost their sales targets and receive bonuses. Consequently, customers were wrongly charged fees for accounts they did not know existed. In this business crime scenario, Wells Fargo involved to pay $185 million in fines and refund $5 million to affected customers. Also, around 5,300
Le-Nature was a Latrobe Pennsylvania based beverage maker owned by Gregory Podlucky, who is now serving a 20 year prison sentence in New Jersey’s Ft. Dix Federal Corrections Institute. Gregory Podlucky was the admitted ring leader, but in all 5 people plead guilty and another 3 took their chances at trial, where they were all found guilty as well. Le-Nature went into bankruptcy in 2006, and 3 years later they were indicted by the federal government being accused of scamming investors and banks out of more than 800 million dollars. The accounting fraud was an elaborate Ponzi scheme and financial statement fraud. Company officials created false documents, invoices, customer checks, and statements to record activity that never occurred.
As what it came to be as one of the notorious case of fraud in the mid-1980s; the electronic store well known as (Crazy Eddie), its owner Eddie Antar and CFO Sam Antar committed every possible act fraud there is. Just to mention two of which they perpetrated; tax evasion and securities fraud. Basically, the tax evasion was committed for many years, it was not until the company became public in 1984 that their wrong doing near its end. Once Crazy Eddie went public, a new set of rules took place, such as compliance with the Securities Exchange Commission and the scrutiny of its investors. Soon, they both realized that their long committed fraud was nearing its end, when an external audit found the real numbers on the company’s inventory, revenues,
Two individual employees wanted to complete their assignment for their company. But, did their strategy go about accuracy? Karel Svoboda works for Rogue Bank. Svoboda is a credit officer who needed Alena Robles, independent accountant, assists to evaluate and approved his employer’s extensions of credit to clients. In order to complete the task, Svoboda needed to access the nonpublic information about the clients’ personal information related to the company such as their profits and performances. Instead of appropriately following the company policy, Svoboda and Robles created a plan to utilize this data to exchange securities. According to their plan, Robles exchanged the securities of more than twenty unique organizations and benefitted by
Client also agrees to forward all mail received regarding their credit file to The Dynamic Credit Repair Services, LLC as soon as they receive items from any of the three credit bureaus, Equifax, Experian, and Trans Union, or any response from any of the client's creditors in response to any
Therefore, as the Carle Financial Assistance program has approved our application, we understand that the balance of $1,748.90 indicated in the table above should be covered by the CFA. So, we assume that your letter inviting us to apply to financial assistance is a mistake and not a bad joke. You can find attached the letters we have received from you showing you have approved our financial assistance between November 2016 and November
- Verify email address. At 3:40, Krista advises the third party that the team member from CR Servicing put in a request to have the document sent, however, he did not advise Krista of this on the warm transfer. Furthermore, the Docs Team noted the loan in AMP on 2/19 that they sent the doc request. We want to ensure we are setting the correct expectations for our clients and verifying the email address prior to submitting a doc request.
Marco “Marlo Kaitlin,” a former Wells Fargo employee, claims she was harassed and mocked to the point that brought her near to suicide. Her lawsuit against Wells Fargo was filed with Los Angeles Superior Court last July 14th. She alleged wrongful termination, discrimination, harassment, hostile work environment, retaliation, and intentional and negligent infliction of emotional distress on the part of Wells Fargo. She claims it all started with her decision to transition from a man to a woman.
In many ways, this transition for banks to remove this extra oversight intity from banks and other financial corporations could cause a positive development. I believe this is for the fact of this product being costly for bank financials and expending their partnerships. Financial sectors such as BB&T corp., SunTrust Bank Inc., and Zion, citizens Financial group Inc. all failed the stress test administrated by the Fed reserve in the past. Institutions must build and fund a system that meet the expectations of the Fed’s, that alone could cost firms somewhere between ten million dollars or higher. In the past for banks to payout dividends to stockholders, banks had to complete detailed financial and risk exams. This would be the largest increase in the financial rule book, by raising
On Thursday, August 21, 2014 it was announced that the Department of Justice has reached a $16.65 billion settlement with Bank of America Corporation. This was the largest civil settlement with a single entity in American history (Sienkiewicz, 2012). The settlement with Bank of America Corporation was from when the company knowingly marketed and sold toxic loans (“Bank of America to pay $16.65 Billion in historic justice department settlement for financial fraud leading up to and during the financial crisis | OPA | department of justice,” 2014). However, at the time it was not only Bank of America that was being unethical. Two other major financial companies; Country Wide Financial and Merrill Lynch were also
Wall Street's demand for high growth motivated Peregrine Systems' executives, to fraudulently inflate revenues and stock prices. According to the SEC, "Peregrine filed materially incorrect financial statements with the commission for 11 consecutive quarters." Steven Spitzer, a member of Peregrine's sales team admitted to meeting regularly with senior management near the end of the quarter to determine how much revenue was needed to exceed Wall Street's expectations. The primary fraud committed by Peregrine was done by inflating revenue by booking revenue when sales never occurred. By recognizing revenue from sales that never occurred, the accounts receivable balance and net income were fraudulently overstated; the accounts receivable would never be collected, because the merchandise was never sold. To cover up their high, outstanding, accounts receivable balance as a result of booking sales that did not occur, Peregrine fraudulently engaged in financial agreements with banks.