White Collar Crime

Find the latest news on a full range of frauds committed by business professionals and government officials, including mortgage fraud, securities fraud and heath care fraud.

Feb 15, 2011

The U.S. Securities and Exchange Commission (SEC) claims that a former chief executive and two former chief financial officers at mortgage lending specialist IndyMac Bancorp committed securities fraud by hiding the financial condition of the bank, Reuters reports.

The charges reportedly come after the California-based lender was seized by regulators during the early stages of the economic crisis in July 2008.

Feb 4, 2011

Cyrus Vance, the Manhattan district attorney, has called for an expansion to a state law regulating his authority to combat white collar crime, reports WNYC.

Speaking before the New York City Bar Association, Vance urged lawmakers to expand the Martin Act, saying that its penalties were too lenient and did not take into account the amount of money involved in a given crime.

"A broke who fraudulently deprives one customer of $500 is subject to the same penalty as a high-level market manipulator who deprives the investing public of hundreds of millions of dollars," sa

Jan 25, 2011

Florida day care operator Barbara Rochelle Cummings has pleaded no contest to charges of aggravated white collar crime, reports the Gainesville Sun.

Cummings, 45, previously ran two day care centers in Gainesville and Starke, Florida.

Jan 14, 2011

Luther Strange, the newly-elected attorney general of Alabama, has announced that reducing white collar crime and corruption in the state will be one of his top priorities when he takes office next week, reports WSFA.

As part of his focus on white collar crime, Strange named the members of a public corruption team. The group, which is comprised of former federal law enforcement officials and legal professionals, will work to fight and investigate white collar crime in the state.

"I think if you don't make it a priority then people will...

Jan 5, 2011

Ronald Partee, a former executive of a Missouri charitable foundation, pleaded guilty this week to embezzlement and money laundering after he reportedly took more than $1 million from his employers, reports the St. Louis Post-Dispatch.

Partee, who worked as part of the executive team in the finance department of MERS/Missouri Goodwill Industries, reportedly used falsified bills, invoices and letters to get the organization's accounts payable department to write checks that he later cashed on his own.