#bank-fraud

#bank-fraud

By August 2025, top executives of auto lender Tricolor knew they were in trouble: The company had pledged approximately $2.2 billion of collateral to lenders and investors, but only had approximately $1.4 billion of real collateral, Manhattan federal prosecutors said on Wednesday. Founder Daniel Chu and the company's Chief Operating Officer David Goodgame, who were arrested and charged with bank fraud and wire fraud on Wednesday, planned to frighten at least one lender into a favorable deal, prosecutors allege.

It would be "unjust" to now jail a former Bank of Ireland employee who stole almost €200,000 from a branch and its customers before attempting to set the building on fire, the Court of Appeal has found, despite ruling that her original fully suspended sentence and community service order were too lenient. Maureen McCormack (53) maintained that she stole the money to pay for debts incurred for IVF treatment.

Small-business owner Johnny Carroll only got refund after a year of pleading and the company eventually said it had been a 'malware incident'

A man was arrested Thursday on suspicion of serving as a courier in a cash scam that targeted Windsor residents, authorities said. Investigators said scammers posed as federal officials and told victims their bank accounts had been compromised, instructing them to withdraw cash that would then be collected by a courier. Detectives with the Sonoma County Sheriff's Office organized a sting operation and arrested 56-year-old Zhengning Chen, of Oakland, when he arrived to pick up money from one of the victims, officials said.

SANTA CLARA - A South Bay woman was sentenced Wednesday to 1½ years in federal prison for fraudulently obtaining more than $2.8 million in pandemic relief funds, prosecutors said. Cassie Will-Darnall, 53, of Santa Clara, previously pleaded guilty to one count of bank fraud and one count of wire fraud stemming from a pair of Paycheck Protection Program, or PPP, loans she secured, according to the U.S. Attorney's Office.

"Awareness campaigns are important, but they only go so far," said Jessica Fraser of Timmins, Ont., who lost $10,000 in a TD bank scam in June. TD Bank, which is listed as a "champion" on the coalition's campaign website, refused her request for a refund. "They're supposed to be the gatekeepers of my money and I trusted them to safeguard me," she said. "Instead, I'm left carrying the burden."

Donald Trump has pardoned reality TV stars Julie and Todd Chrisley, convicted of fraudulently taking over $30 million in loans from banks.