Tag Archives: fraud

Silk Road Rogues: Federal Agents Arrested For Theft, Extortion, Fraud – 31 March 2015

RT logoTwo federal investigators working on the black-market website Silk Road went ‘breaking bad’ along the way, claims a DOJ document, charging them with a variety of crimes including Bitcoin theft and extortion.

The Department of Justice indictment charges 46-year-old former Drug Enforcement Agency (DEA) special agent Carl Mark Force IV, and 32-year-old former Secret Service agent Shaun W. Bridges, with wire fraud and money laundering. Force was also charged with theft of government property and conflict of interest. The federal criminal complaint was issued on March 25 in the Northern District of California, but was sealed until Monday.

Read More: Jury finds Ross Ulbricht guilty on all counts over Silk Road website

Force and Bridges were part of the Baltimore-based federal task force charged with investigating Silk Road, the underground marketplace for illicit goods and services shut down by the FBI in 2013. The website’s creator, Ross Ulbricht, denied federal accusations that he operated the site under the name “Dread Pirate Roberts.”

Read the full story at: www.rt.com / link to original article

The Derivatives Nightmare : A Fraud Far Beyond Fractional Reserve Banking – 2 Parts – 12 June 2012

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Abacus Bank Indicted For Mortgage Fraud; More Prosecutions To Come? – 10 June 2012

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Citigroup to Pay Millions to Close Fraud Complaint

Citigroup to Pay Millions to Close Fraud Complaint. via http://www.2012IndyInfo.wordpress.com thanks to Pat Donworth and Laura Tyco

by Edward Wyatt published 19 October 2011.

WASHINGTON — As the housing market began its collapse, Wall Street firms and sophisticated investors searched for ways to profit. Some of them found an easy method: Stuff a portfolio with risky mortgage-related investments, sell it to unsuspecting customers and bet against it.

Lucas Jackson/Reuters

Robert Khuzami of the S.E.C. said the bank should have been more forthcoming.



Citigroup on Wednesday agreed to pay $285 million to settle a civil complaint by the Securities and Exchange Commission that it had defrauded investors who bought just such a deal. The transaction involved a $1 billion portfolio of mortgage-related investments, many of which were handpicked for the portfolio by Citigroup without telling investors of its role or that it had made bets that the investments would fall in value. Continue reading