fraud

Texas firm says it lost $60M in a bank wire transfer scam

Texas-based carbon black company Orion informed investors that it lost $60 million after falling victim to a criminal scheme that resulted in “multiple fraudulently induced outbound wire transfers to accounts controlled by unknown third parties.”  No further specifics were given, but these schemes typically involve fraudsters tricking employees at a company — often in finance […]

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SEC charges crypto firm NovaTech with fraud

The U.S. Securities and Exchange Commission (SEC) is suing a crypto startup, NovaTech, for allegedly fraudulently raising more than $650 million from over 200,000 investors, many in the Haitian-American community. The SEC frames NovaTech, founded in 2019 by husband-and-wife duo Cynthia and Eddy Petion, as a multi-level marketing (MLM) scheme — one that lured investors

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Meta, Match, Coinbase and others team up to fight online fraud and crypto scams

Hosting scams on your platform is bad for business, which is why on Tuesday, a group of major tech companies including Match Group, Meta, Coinbase and others are jointly launching a new coalition to take on online fraud across dating apps, social media and crypto. The new coalition, Tech Against Scams, will work together to

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