Articles Tagged with financial

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A woman from Colorado is facing several felony charges for allegations that she fraudulently accepted unemployment benefits while earning unreported money from jobs at the same time.

36-year-old Meadoe R. Croker began a claim for unemployment benefits beginning in January 2015 and started receiving checks shortly thereafter. She additionally renewed her claims in January 2016 and 2017.

Random audits are performed through the Colorado Department of Labor and Employment and a company in Grand Junction that Croker allegedly worked for was chosen to have their accounts examined. It was discovered that Croker was purportedly an employee of the business while she was still accepting her unemployment checks, and an investigation was opened.

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A federal investigation of a company in Irvine that offers financial and insurance services has led to charges for three executives of the firm who have allegedly been found to have stolen investments totaling over $4 million from several elderly clients.

50-year-old Mehmet Fatih Biyikoglu is the CEO and founder of Five Star Financial Services, LLC, a financial management and insurance firm in Orange County. 58-year-old Anna Marie Holt serves as the company’s president and chief operating officer, and Ida Shaghoian, 38, was a sales agent who was also once married to Biyikoglu.

The company practices have been under investigation that has led to accusations against Biyikoglu, Holt, and Shaghoian purporting that between 2014 and 2015 they recruited clients, typically elderly people, and assured them that if they invested into certificates of deposit they would earn significant returns. Instead of taking the clients’ money and putting it into a JP Morgan Chase Bank CD account as promised, the suspects have been accused of taking over $4 million in investments and using the cash for personal items such as real estate, jewelry, and expensive automobiles.

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An ex-insurance agent from San Clemente has been accused of using fraudulent practices to profit off of investments he made for at least six elderly clients in Southern California.

55-year-old Mark Malatesta, a man employed as a licensed insurance agent, was taken into custody on Monday after the California Department of Insurance detectives found what they believe is supporting evidence that he was taking part in a monetary ruse which cost his former clients over $1.6 million. The alleged victims were reported as senior citizens, who are said to be a target demographic of an increasing number of deceptions designed to cheat them out of their money, as reported by Insurance Commissioner Dave Jones.

Malatesta has been accused of a procedure called “churning,” wherein a broker who typically has permission to make independent determinations on how to invest money from the client’s account performs transactions “chiefly to generate commissions that benefit the broker,” as described by the U.S. Securities and Exchange Commission.

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A man suspected of assisting in transporting illegal aliens into the United States for profit and without regard for their safety entered a plea of guilty at his arraignment on Monday.

As stated in court records, on July 23, 2017, San Antonio Police investigated a call leading them to a tractor-trailer parked behind a Walmart. Several illegal aliens were discovered standing while others were lying near the back of the trailer, and 61-year-old James Matthew Bradley Jr. was in the driver’s seat.

Among the 39 people found by police four of them were unaccompanied minors between the ages of 14 and 17. Eight of the aliens were found deceased in the trailer and two died later in the hospital. The illegals interviewed claimed the trailer carried up to 200 people during the course of the transit, and cited varying amounts Bradley had charged for the transportation services. Bradley affirmed that these allegations were true. He is being held pending sentencing on January 22, 2018 and faces a penalty as high as life in prison.